Global marketing research for an innovative wellness company : Case Zenestar
Mattila, Oskari (2020)
Mattila, Oskari
2020
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2020120726698
https://urn.fi/URN:NBN:fi:amk-2020120726698
Tiivistelmä
The wellness industry is witnessing rapid growth and its customers are constantly looking for new products and services to improve their physical and mental health. Finnish saunas are well-known around the world along with their health benefits. Many Finnish sauna providers are looking for new markets across the borders to escape the saturated Finnish sauna market. Finding a new market for innovative Finnish sauna/wellness products is the core theme of this thesis.
The main objective of this thesis is to help the management of the case company, Zenestar, research a potential market. Zenestar commissioned four different theses to research potential markets to enter. The author chose the United States market. The US has become the center of the wellness industry as one of the top destinations for wellness tourists. The US is too big for single market research, therefore it must be divided into smaller segments such as a single state or city. The author has chosen New York City as the target market. The global market research aims to study the case company’s competitiveness in the potential market while considering factors such as the local competition, trade barriers, and the market environment.
The framework of this thesis consists of a theoretical part and an empirical part. The relevant theories concerning the empirical part, global marketing research, are addressed in the theoretical part of this thesis. Also, an internal analysis of the case company is utilized to add value to the empirical section.
The results of the research point out that there is a demand for products like Zenestar wellness space in international markets. This result was concluded with a competitor analysis that indicated the current market trends and demand for new products.
The main objective of this thesis is to help the management of the case company, Zenestar, research a potential market. Zenestar commissioned four different theses to research potential markets to enter. The author chose the United States market. The US has become the center of the wellness industry as one of the top destinations for wellness tourists. The US is too big for single market research, therefore it must be divided into smaller segments such as a single state or city. The author has chosen New York City as the target market. The global market research aims to study the case company’s competitiveness in the potential market while considering factors such as the local competition, trade barriers, and the market environment.
The framework of this thesis consists of a theoretical part and an empirical part. The relevant theories concerning the empirical part, global marketing research, are addressed in the theoretical part of this thesis. Also, an internal analysis of the case company is utilized to add value to the empirical section.
The results of the research point out that there is a demand for products like Zenestar wellness space in international markets. This result was concluded with a competitor analysis that indicated the current market trends and demand for new products.