MARKET RESEARCH STUDY FOR STARTUP COMPANY WITH FOCUS ON CARBON FOOTPRINT TRACKING AND MANAGEMENT

Abstract

The purpose of this study is to provide business expansion strategy recommendations for a start-up company specialized in carbon footprint tracking and management. The recommendations are derived from in-depth market research, analysis and first-hand interviews of individuals who are experts on the subject and possible end-users. Goals: The goal is to provide recommendations that are viable for business expansion, namely, strategies that will help the company grow its customer base and expand into new markets while increasing its competitiveness. Scope: The scope of this study covers market research and analysis, which include internal and external business environment scanning, analysis of competitors, existing markets and potential customers. Research Methods: The two main methods used are primary data research and secondary data research. The primary data research was conducted via interviews of individuals while secondary data research was conducted through researching data via reputable sources on the internet. Findings: It was found that the company is in a good position to exploit the existing market due to climate change, however, they should expand their services to service more customer and limit their expansion to EU and N. America region.