Marketing research within product development process for an innovation in firearms industry

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School of Science | Master's thesis
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Date

2013

Department

Perustieteiden korkeakoulu

Major/Subject

Koneensuunnitteluoppi

Mcode

Kon-41

Degree programme

Language

en

Pages

95

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Abstract

How could an innovation be successfully positioned if the nature of industry does not accept radical change? What are the tools to estimate brand personality of a brand extension? Who are the potential customers of proposed product and how to gain a new customer base if the industry is aiming mostly towards loyal customers? Firearms industry is traditional and conservative. Though some new trends sometimes pop up it is difficult to say what the chance for an innovation to succeed is. During PDP process a radically new product was developed and first full-functional prototype built. Technological and design platforms were though over. But what would be the best marketing strategy for a new product? Literature review has identified "4P's" marketing mix that due to its elegancy serves as the best canvas for marketing analysis. Using marketing mix as a canvas for the study, various brand ideas were added to the "4P's" model. As a result, theoretic aspects of marketing and branding were presented and served as a foundation for empirical study. The empirical part included 13 interviews at IWA and EXA hunting exhibitions and a survey that was distributed mainly in Finland during April 2013. The aim of interviews was to access the nature of industry and find out what would be a potential market for the product if any. Most of respondents were representatives of Sako's distribution channels around the globe. Insights gained during interviews then formed the basis for a survey that focused on potential users' evaluation of product's attributes and brand personality. Based on gathered data conclusions on main marketing aspects were driven along with a brand personality for parent brand. These findings serve as a solid base for further product development and as a benchmark for further research.

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Supervisor

Ekman, Kalevi

Thesis advisor

Ekman, Kalevi

Keywords

product development, marketing mix, brand equity, brand identity

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https://urn.fi/URN:NBN:fi:aalto-2020122859594

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[dipl] Perustieteiden korkeakoulu / SCI