Browsing by Subject "4P"

This study aims to find out if differentiation of the features of the 4P of the product milk can create value to customers in a particular customer segment. Creating value is in the core in every company´s actions. Customers buy products and services that create value to them and are willing to pay from the value they get. The more the product creates value, the more the customers are willing to pay. This study focused on the customer segment of young women with academic background who live in the capital region. Milk is a bulk product consumed widely in Finland. The product also has significant role in the nutritional history of the country and has a big role in Finnish nutritional recommendations. However the consumption of milk has decreased over the years. The theoretical background of this study is based on the following theories: marketing strategy and the 4P, customer value and differentiation. These theories formed the theoretical framework which gave the focus to the empirical experiment. The approach of the study was qualitative because qualitative research aims to understand the phenomenon it studies and the approach is more suitable for analysing verbal data. Qualitative research wants to get a deeper understanding and it gives room for individual´s thoughts and experience. The study was executed and a group interview using theme interview methods. For the study chosen features of the 4P of the product milk were differentiated and group interview focused on them. The differentiated features were the following. For product organic milk and milk with added protein, for price milk with a lower price, for place online shopping and for promotion advertising milk on social media. The findings of this study were that in some cases differentiation of the features if the 4P of the product milk can create value for customers but in most cases it does not. The focus group felt that the most valuable differentiated feature of the 4P was organically produced milk and other factors that supported the well-being of the production animals and the environment. If a company selling or producing milk tries to create value to its customers through differentiation of the features of the 4P, it needs to consider carefully which features to focus on.