Marketing concept for Imecon AG Analysis and recommendation for new market segments
Even though a business expansion opens up new opportunities, it also exposes businesses to sometimes unforseen risks. Thus, a carefully executed market analysis, as well as a thought-out marketing concept, are crucial for entering into related markets.
Nussbaum Lukas & Sidler Michel, 2020
Bachelor Thesis, Imecon AG
Betreuende Dozierende: Markus Rach
Keywords: Market potential, microbreweries, non-alcoholic beverages, Switzerland, Austria, Germany, word of mouth, client acquisition, software, marketing mix, market analysis
Imecon AG, a software developer for beverage producers, would like to expand into new markets, such as microbreweries and non-alcoholic beverages. However, knowledge of the targeted market characteristics is lacking. Thus, the company has assigned the students with this Bachelor Thesis, assessing and evaluating both markets in Switzerland, Austria and Germany. For that, the characteristics of each of the described segments shall be outlined. In the next step, actions that potentially ease the entry into the respective segments ought to be introduced.
The project team decided on applying three models: Porter's Five Forces (identifying market environment), the 7Ps marketing mix (capturing Imecon's current business situation, comparing it to customer behaviour in the respective segments), and the customer journey model that serves as a structural approach in the elaboration of the marketing plan.
In this Bachelor Thesis, secondary sources and primary sources were combined. As primary sources, the project team contacted over 300 potential clients, following 23 held interviews with companies that operate in the bespoke market segments.
In general, the study finds that companies in the examined segments are not fully aware of the benefits a software solution would bring along. Moreover, only a few interviewees in the segments have heard about Imecon AG and its software (PRIME). Hence, the market penetration rate for software-based solutions is relatively low.
With the market and customer behaviour analysis, the project team identified the significance of word of mouth for both segments in all three countries. When it comes to acquiring reliable information about software solutions, beverage producers mostly asked their competitors. Thus, the marketing plan introduces measures that support Imecon AG in boosting the effectiveness of word of mouth, with the ultimate goal to increase customer awareness. As soon as the initial barrier of uncertainties is removed, subsequent actions that are directed towards customer acquisition are excerpt. On the other hand, with open innovation, the thesis proposes measures to strengthen the bonding with existing customers.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: Strategie, Marketing & Kommunikation