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Verma, Vishal (2005) A Research on Consumer Behaviour in the Industrial Valve market and Entry Strategy for Advanced Valve Technologies. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

The importance of successful innovation for the long-term performance of companies can hardly be exaggerated. Although pioneers outsell late movers in many markets, in some cases innovative late entry has produced some remarkably successful brands that outsell pioneers.

The central theme of this dissertation is to design a market entry strategy for Advanced Valve Technologies (AVT) to launch their product in the industrial valve market. AVT is a valve manufacturing company based in UK. AVT is the world leader in applying reinforced composite technologies to valves and related products. Their range of fully rated products offers outstanding corrosion resistance and a compelling cost of ownership in the Chemical, Offshore & Marine markets.

This dissertation considers various strategies for a firm contemplating entry in a market dominated by an entrenched competitor. Drawing on behavioral research on consumer preference formation, an entry strategy model was developed that reflects differing consumer responses to similar products offered by the dominant brand and later entrants. From the resulting aggregate market response model, we derive several competitive implications, notably (1) sources of advantage to the firm, (2) reasons for customer satisfaction and (3) reasons for the best performance of the firm.

Various propositions were made encompassing framework for the product entry strategy research. Critical measurement issues in entry research were raised and dealt. In the analysis, various components in the end user market were focused. The potential market size, consumer purchase behaviour, the reasons for choosing a particular type of brand, reasons for the end users switching brand of the firm was analyzed. A correlation analysis between various variables and customer satisfaction gave a picture of why the end users switch to different brands. The model was then empirically tested and found to explain substantial variance in long-term performance. Finally, recommendations were made for AVT to enter into the market with its unique product characteristics.

Item Type:	Dissertation (University of Nottingham only)
Keywords:	Consumer Behaviour, Market Research, Entry Strategy
Depositing User:	EP, Services
Date Deposited:	08 Dec 2005
Last Modified:	09 Jun 2018 23:31
URI:	https://eprints.nottingham.ac.uk/id/eprint/20080

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