MARKET OPPORTUNITIES IN NIGERIA (Case study: Rideascout’s zero emission vehicle and Lagos market)

ABSTRACT
Nigeria, the economic heartbeat of Africa and the most populous black nation on Earth is plagued by a continuing threat of pollution proliferation spreading through her like a cancer, crippling economic buoyancy and adversely affecting the quality of life of her people and the environment. The devastating effects of air pollution are felt mainly in the metropolis of the world with both developed and developing cities having to face this demon. Several efforts have been channeled into stemming the tide of this increasingly adverse phenomenom but all efforts have proved abortive so far. Sometimes for inadequate funding and other times as a result of deficient environmental preservation policies and education, hence the need to develop an unorthodox alternative to tackling this menace. Rideascout, a Finnish startup mainly into engineering activities and related technical consultancy are developing a Zero Emission Vehicle which aims to be a solution at tackling air pollution. In order to learn about prospective markets and understand the viability of their produt in said markets, the company decided to carry out a voracious market research. As an active part of the research exercise, I hope this thesis will provide an amalgam of knowledge and information on how the product can have a seamless transition into Nigeria as a whole and Lagos in particular as well as its possible uses.

This literature attempts to conduct a holistic analysis of the Nigerian market and explore ways in which the Zero Emmision Vehical can penetrate and thrive in the prospective market.

The author employed deductive reasoning and qualitative research as the primary methods of collating the pieces of information used in this text. All of the information utilized in this thesis was gathered from disparate sources. Primary data were assembled through a series of unstructured interviews with prospective consumers as well as the manufacturers. While secondary data were collated from different reliable sources varying including journals, books, internet sources, and articles.

Theoretically, this thesis employs PESTEL analysis and Porter’s Five Forces as the main marketing tools to evaluate external factors including the current market situation, as well as competition, opportunities, and threats while the Empirical part is made up of three subsets also backed by PESTLE analysis.

Porter’s Five Forces was employed in the analysis and examination of the competition in the auto industry, as well as draw up possible strategy development and market entry suggestions.

The thesis therefore advocates for Lagos as a possible prospective market as there lies untapped potential and a sea of prospective customers in Nigeria’s Center of Excellence should the case company consider entering into the international market.

Key words: air pollution, climate change, PESTEL, environmental policies, metropolis, buoyancy, seamless, unorthodox, qualitative, Porter’s Five Forces, deductive, Scouter, emerging market, industry analysis, consumer analysis, innovation.


TABLE OF CONTENTS

1 INTRODUCTION
            1.1 Background and Motivation
            1.2 Thesis objective, questions and limitation
            1.3 Research Method & Methodology
            1.4 Theoretical framework
            1.5 Thesis structure
            1.6 Scope

2  MARKET OPPORTUNITIES IN EMERGING MARKETS
            2.1 Emerging Markets
            2.1.1 Definition
            2.1.2 General Characteristics
            2.2 Market Opportunities in Emerging Markets

3 SITUATION ANALYSIS
            3.1 Country analysis
            3.1.1 Politics
            3.1.2 Economics
            3.1.3 Social
            3.1.4 Technology
            3.1.5 Environmental
            3.1.6 Legal
            3.2 Industry analysis
            3.2.1 Rivalry among existing competitors
            3.2.2 Bargaining power of suppliers
            3.2.3 Bargaining power of buyers
            3.2.4 Threat of new entrants
            3.2.5 Threat of substitutes

4  NIGERIA: COUNTRY & MARKET ANALYSES
            4.1 PESTEL analysis of Nigeria
            4.1.1 Political
            4.1.2 Economy
            4.1.3 Social
            4.1.4 Technology
            4.1.5 Environmental
            4.1.6 Legal
            4.2 Industry analysis
            4.2.1 Substitute products
            4.2.2 Threat of new entrants
            4.2.3 Bargaining power of buyers
            4.2.4 Bargaining power of buyers

5 CONSUMER ANALYSIS
            5.1 Consumer characteristics
            5.2 Methodology and Sampling
            5.2.1 Interview questions
            5.2.2 Respondent selection
            5.2.3 Inference

6 CONCLUSION
            6.1 Findings
            6.2 Suggestions for further research
            6.3 Reliability and Validity

7 SUMMARY
REFERENCES
APPENDICES


1     INTRODUCTION
This chapter serves to introduce the main ideas and concept of this thesis. It is aimed at giving a coincise view of the author on the research background and motivation, methodology, objectives and questions, theoretical framework, scope, structure, and limitations. If at the end of this chapter the readers are able to get the main idea and know what to expect from subsequent chapters, then it would have served its purpose.


1.1     Background and Motivation
The author’s motivation to work on this case is borne out of sheer enthusiasm for environmental conservation, and this case presented me with the perfect opportunity to channel my innate desire for a more ergonomic city into exploring ways to introduce a zero emission vehicle into one of the most populous and pollution ravaged cities in the world.

Rideascout are the commissioners of this thesis and also the sole beneficiaries of the findings from this work. Rideascout is a Finnish start-up company who operate in the technology industry. They are developing an innovative vehicle that in their own words “will change the future of transportation”. (Pitkanen 2015.) The name of this innovative vehicle is Scouter, and its components will include cycling pedals, four wheels, a driver and passenger seat, battery panels, and would run at a speed of about 25km/hr. (Pitkanen 2015.)

In an attempt to explore the possibilities of scouter entering and thriving in the Nigerian market, my research employed two major marketing tools namely PESTLE and Porter’s Five Forces as well as interviews conducted by asking prospective consumers from varying backgrounds pertinent questions that could shed more light on the research and the results provide solid blueprints for the marketing strategy and potential.


Lagos which is often referred to as the confluence of Nigeria’s financial markets and Africa’s most populous city, has been particularly ravaged by air pollution and with her population showing no signs of reducing, it has been subjected to diverse forecast of the negative impacts of changing climatic conditions mainly caused by pervasive air pollution and immediate solutions are being sort to tackle this menace (World Bank 2015).

This research will show the potential of Lagos as a viable destination for scouter; as well as suggest possible ways those potentials can be tapped.

Nigeria is seen by the author as a viable destination because it is home to about 181.6 million people (CIA US 2015) and Lagos being the commercial nerve center of Nigeria is home to about 13.1 million people (CIA US 2015) which is more than twice the population of Finland. Road transportation is the main source of transport around the Lagos metropolis and according to most recent source found, there are about 7 million registered vehicles plying the Nigerian road daily with over 200,000 registered yearly in Lagos (FRSC 2009) and motorcycles are said to be almost double that figure (unofficial documentation) while bicycles are very unpopular in the Lagos metropolis. This lack of emission free mode of transport has contributed immensely to the air pollutioin that has ravaged the ever vibrant West African city, thus a colossal need for new means of transport in order to preserve the environment.

For more International Business Management Projects click here
================================================================
Item Type: Project Material  |  Attribute: 61 pages  |  Chapters: 1-5
Format: MS Word  |  Price: N3,000  |  Delivery: Within 30Mins.
================================================================

Share:

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Search for your topic here

See full list of Project Topics under your Department Here!

Featured Post

HOW TO WRITE A RESEARCH HYPOTHESIS

A hypothesis is a description of a pattern in nature or an explanation about some real-world phenomenon that can be tested through observ...

Popular Posts