Value based pricing and marketing of marine engines

Objective of the thesis is to create a value based pricing model for marine engines and study the feasibility of implementing such model in the sales organization of a specific segment in the case company’s marine division. Different pricing strategies, concept of “value”, and how perceptions of value can be influenced through value based marketing are presented as theoretical background for the value based pricing model. Forbis and Mehta’s Economic Value to Customer (EVC) was selected as framework to create the value based pricing model for marine engines. The EVC model is based on calculating and comparing life-cycle costs of the reference product and competing products, thus showing the quantifiable value of the company’s own product compared to competition. In the applied part of the thesis, the components of the EVC model are identified for a marine diesel engine, the components are explained, and an example calculation created in Excel is presented. When examining the possibilities to implement in practice a value based pricing strategy based on the EVC model, it was found that the lack of precise information on competing products is the single biggest obstacle to use EVC exactly as presented in the literature. It was also found that sometimes necessary communication channels are missing and that there is simply a lack of interest from some clients and product end-users part to spend time on studying the life-cycle costs of the product. Information on the company’s own products is however sufficient and the sales force is capable to communicate to sufficiently high executive levels in the client organizations. Therefore it is suggested to focus on quantifying and communicating the company’s own value proposition. The dynamic nature of the business environment (variance in applications in which engines are installed, different clients, competition, end-clients etc.) means also that each project should be created its own EVC calculation. This is demanding in terms of resources needed, thus it is suggested to concentrate on selected projects and buyers, and to clients where the necessary communication channels to right levels in the customer organization are available. Finally, it should be highlighted that as literature suggests, implementing a value based pricing strategy is not possible unless the whole business approach is value based.

Service product internationalisation : market selection for new service products in a multinational financial service firm

The significance and impact of services in the modern global economy has become greater and there has been more demand for decades in the academic community of international business for further research into better understanding internationalisation of services. Theories based on the internationalisation of manufacturing firms have been long questioned for their applicability to services. This study aims at contributing to understanding internationalisation of services by examining how market selection decisions are made for new service products within the existing markets of a multinational financial service provider. The study focused on the factors influencing market selection and the study was conducted as a case study on a multinational financial service firm and two of its new service products. Two directors responsible for the development and internationalisation of the case service products were interviewed in guided semi-structured interviews based on themes adopted from the literature review and the outcome theoretical framework. The main empirical findings of the study suggest that the most significant factors influencing the market selection for new service products within a multinational financial service firm’s existing markets are: commitment to the new service products by both the management and the rest of the product related organisation; capability and competence by the local country organisations to adopt new services; market potential which combines market size, market structure and competitive environment; product fit to the market requirements; and enabling partnerships. Based on the empirical findings, this study suggests a framework of factors influencing market selection for new service products, and proposes further research issues and methods to test and extend the findings of this research.

Production unit’s overhead cost allocation with activity-based costing in food industry enterprise

The main objective of this Master’s thesis is to develop a cost allocation model for a leading food industry company in Finland. The goal is to develop an allocation method for fixed overhead expenses produced in a specific production unit and create a plausible tracking system for product costs. The second objective is to construct an allocation model and modify the created model to be suited for other units as well. Costs, activities, drivers and appropriate allocation methods are studied. This thesis is started with literature review of existing theory of ABC, inspecting cost information and then conducting interviews with officials to get a general view of the requirements for the model to be constructed. The familiarization of the company started with becoming acquainted with the existing cost accounting methods. The main proposals for a new allocation model were revealed through interviews, which were utilized in setting targets for developing the new allocation method. As a result of this thesis, an Excel-based model is created based on the theoretical and empiric data. The new system is able to handle overhead costs in more detail improving the cost awareness, transparency in cost allocations and enhancing products’ cost structure. The improved cost awareness is received by selecting the best possible cost drivers for this situation. Also the capacity changes are taken into consideration, such as usage of practical or normal capacity instead of theoretical is suggested to apply. Also some recommendations for further development are made about capacity handling and cost collection.

Development and validation of a genotype 3 recombinant protein-based immunoassay for hepatitis E virus serology in swine

Hepatitis E virus (HEV) is classified within the family Hepeviridae, genus Hepevirus. HEV genotype 3 (Gt3) infections are endemic in pigs in Western Europe and in North and South America and cause zoonotic infections in humans. Several serological assays to detect HEV antibodies in pigs have been developed, at first mainly based on HEV genotype 1 (Gt1) antigens. To develop a sensitive HEV Gt3 ELISA, a recombinant baculovirus expression product of HEV Gt3 open reading frame-2 was produced and coated onto polystyrene ELISA plates. After incubation of porcine sera, bound HEV antibodies were detected with anti-porcine anti-IgG and anti-IgM conjugates. For primary estimation of sensitivity and specificity of the assay, sets of sera were used from pigs experimentally infected with HEV Gt3. For further validation of the assay and to set the cutoff value, a batch of 1100 pig sera was used. All pig sera were tested using the developed HEV Gt3 assay and two other serologic assays based on HEV Gt1 antigens. Since there is no gold standard available for HEV antibody testing, further validation and a definite setting of the cutoff of the developed HEV Gt3 assay were performed using a statistical approach based on Bayes' theorem. The developed and validated HEV antibody assay showed effective detection of HEV-specific antibodies. This assay can contribute to an improved detection of HEV antibodies and enable more reliable estimates of the prevalence of HEV Gt3 in swine in different regions.

Sensor communication in Smart cities and regions: An efficient IoT-based remote health monitoring system

Recent advances in Information and Communication Technology (ICT), especially those related to the Internet of Things (IoT), are facilitating smart regions. Among many services that a smart region can offer, remote health monitoring is a typical application of IoT paradigm. It offers the ability to continuously monitor and collect health-related data from a person, and transmit the data to a remote entity (for example, a healthcare service provider) for further processing and knowledge extraction. An IoT-based remote health monitoring system can be beneficial in rural areas belonging to the smart region where people have limited access to regular healthcare services. The same system can be beneficial in urban areas where hospitals can be overcrowded and where it may take substantial time to avail healthcare. However, this system may generate a large amount of data. In order to realize an efficient IoT-based remote health monitoring system, it is imperative to study the network communication needs of such a system; in particular the bandwidth requirements and the volume of generated data. The thesis studies a commercial product for remote health monitoring in Skellefteå, Sweden. Based on the results obtained via the commercial product, the thesis identified the key network-related requirements of a typical remote health monitoring system in terms of real-time event update, bandwidth requirements and data generation. Furthermore, the thesis has proposed an architecture called IReHMo - an IoT-based remote health monitoring architecture. This architecture allows users to incorporate several types of IoT devices to extend the sensing capabilities of the system. Using IReHMo, several IoT communication protocols such as HTTP, MQTT and CoAP has been evaluated and compared against each other. Results showed that CoAP is the most efficient protocol to transmit small size healthcare data to the remote servers. The combination of IReHMo and CoAP significantly reduced the required bandwidth as well as the volume of generated data (up to 56 percent) compared to the commercial product. Finally, the thesis conducted a scalability analysis, to determine the feasibility of deploying the combination of IReHMo and CoAP in large numbers in regions in north Sweden.

Model-based testing of software systems : functionality and performance

Software is a key component in many of our devices and products that we use every day. Most customers demand not only that their devices should function as expected but also that the software should be of high quality, reliable, fault tolerant, efficient, etc. In short, it is not enough that a calculator gives the correct result of a calculation, we want the result instantly, in the right form, with minimal use of battery, etc. One of the key aspects for succeeding in today's industry is delivering high quality. In most software development projects, high-quality software is achieved by rigorous testing and good quality assurance practices. However, today, customers are asking for these high quality software products at an ever-increasing pace. This leaves the companies with less time for development. Software testing is an expensive activity, because it requires much manual work. Testing, debugging, and verification are estimated to consume 50 to 75 per cent of the total development cost of complex software projects. Further, the most expensive software defects are those which have to be fixed after the product is released. One of the main challenges in software development is reducing the associated cost and time of software testing without sacrificing the quality of the developed software. It is often not enough to only demonstrate that a piece of software is functioning correctly. Usually, many other aspects of the software, such as performance, security, scalability, usability, etc., need also to be verified. Testing these aspects of the software is traditionally referred to as nonfunctional testing. One of the major challenges with non-functional testing is that it is usually carried out at the end of the software development process when most of the functionality is implemented. This is due to the fact that non-functional aspects, such as performance or security, apply to the software as a whole. In this thesis, we study the use of model-based testing. We present approaches to automatically generate tests from behavioral models for solving some of these challenges. We show that model-based testing is not only applicable to functional testing but also to non-functional testing. In its simplest form, performance testing is performed by executing multiple test sequences at once while observing the software in terms of responsiveness and stability, rather than the output. The main contribution of the thesis is a coherent model-based testing approach for testing functional and performance related issues in software systems. We show how we go from system models, expressed in the Unified Modeling Language, to test cases and back to models again. The system requirements are traced throughout the entire testing process. Requirements traceability facilitates finding faults in the design and implementation of the software. In the research field of model-based testing, many new proposed approaches suffer from poor or the lack of tool support. Therefore, the second contribution of this thesis is proper tool support for the proposed approach that is integrated with leading industry tools. We o er independent tools, tools that are integrated with other industry leading tools, and complete tool-chains when necessary. Many model-based testing approaches proposed by the research community suffer from poor empirical validation in an industrial context. In order to demonstrate the applicability of our proposed approach, we apply our research to several systems, including industrial ones.

Integration of marketing research data in new product development. Case study: Food industry company

The aim of this master’s thesis is to provide a real life example of how marketing research data is used by different functions in the NPD process. In order to achieve this goal, a case study in a company was implemented where gathering, analysis, distribution and synthesis of marketing research data in NPD were studied. The main research question was formulated as follows: How is marketing research data integrated and used by different company functions in the NPD process? The theory part of the master’s thesis was focused on the discussion of the marketing function role in NPD, use of marketing research particularly in the food industry, as well as issues related to the marketing/R&D interface during the NPD process. The empirical part of the master’s thesis was based on qualitative explanatory case study research. Individual in-depth interviews with company representatives, company documents and online research were used for data collection and analyzed through triangulation method. The empirical findings advocate that the most important marketing data sources at the concept generation stage of NPD are: global trends monitoring, retailing audit and consumers insights. These data sets are crucial for establishing the potential of the product on the market and defining the desired features for the new product to be developed. The findings also suggest the example of successful crossfunctional communication during the NPD process with formal and informal communication patterns. General managerial recommendations are given on the integration in NPD of a strategy, process, continuous improvement, and motivated cross-functional product development teams.

Stability studies and shelf life estimation of a soy-based dessert

This work is aimed at evaluating the physicochemical, physical, chromatic, microbiological, and sensorial stability of a non-dairy dessert elaborated with soy, guava juice, and oligofructose for 60 days at refrigerated storage as well as to estimate its shelf life time. The titrable acidity, pH, instrumental color, water activity, ascorbic acid, and physical stability were measured. Panelists (n = 50) from the campus community used a hedonic scale to assess the acceptance, purchase intent, creaminess, flavor, taste, acidity, color, and overall appearance of the dessert during 60 days. The data showed that the parameters differed significantly (p < 0.05) from the initial time, and they could be fitted in mathematical equations with coefficient of determination above 71%, aiming to consider them suitable for prediction purposes. Creaminess and acceptance did not differ statistically in the 60-day period; taste, flavor, and acidity kept a suitable hedonic score during storage. Notwithstanding, the sample showed good physical stability against gravity and presented more than 15% of the Brazilian Daily Recommended Value of copper, iron, and ascorbic acid. The product shelf life estimation found was 79 days considering the overall acceptance, acceptance index and purchase intent.

Rosemary extract and celery-based products used as natural quality enhancers for colonial type salami with different ripening times

This study aimed to evaluate the use of rosemary (Rosmarinus officinalis) extract (RE), celery (Apium graveolis), and low levels of NO3 and NO2 as natural agents to enhance the quality of colonial salami. Salami was produced according to three treatments: (A) Control: 0.1% curing salt; (B) Rosemary: 0.05% curing salt + 0.5% RE (rosemary extract); and (C) Rosemary+celery: 0.14% Veg 503 + 0.27% Veg 504 (sea salt plus celery) + 0.5% of RE (rosemary extract). There was no effect (P > 0.05) of the treatments on water activity, Na content, and residual NO3 and NO2. Fatty acids C18:2 and C20:4 were reduced (P < 0.05) during the ripening period in the Control treatment indicating possible oxidation. The use of celery resulted in lower pH values (P < 0.05) in the salami. Reduced addition of NO3 and NO2 resulted in salami lighter in color (higher L* values, P < 0.05) at the 12th day of ripening. In conclusion, celery-based products proved to be an effective source of NO2 and NO3 for color development, but the low pH of the product indicates the need for better evaluation of its use in fermented salami. The RE (rosemary extract) reduced fat oxidation in salami, but this needs further evaluation.

Stability of cassava flour-based food bars

The consumption of Brazilian cassava has been reduced due to a lack of adjustment to the modern lifestyle. To reverse this trend, new products could be developed specifically targeted to high-value niche markets. Cereal bars stand out as fast food high in nutritional value. A bar formula mimicking cereal bars was prepared using a mixture of Brazilian cassava flour, hydrogenated vegetable fat, dried bananas, ground cashew nuts, and glucose syrup. After being pressed, the bars were dried for 1 hour at 65 °C, packaged in films, and stored under ambient conditions. Its stability was continuously monitored for 210 days in order to ensure its safety and enable its introduction to the market. Texture loss was observed in the packed bars after 90 days of storage, but the sensory characteristics allowed the testers to perceive this tendency after only 30 days of storage. However, chemical, physical, and microbial analyses confirmed that the bars were safe for consumption for 180 days. The results showed that a 45 g cassava flour-based bar enriched with nuts and dried fruits can meet 6% of the recommended daily fiber intake with a caloric value between that of the common cereal bar and that of an energy bar. Adapting the formula with ingredients (fruits, nuts) from different regions of Brazil may add value to this traditional product as a fast food.

Modeling and kinetic study of bio-ethanol production from soy protein concentrate by-product

Abstract The aim of this work was to evaluate a non-agitated process of bioethanol production from soybean molasses and the kinetic parameters of fermentation using a strain of Saccharomyces cerevisiae (ATCC® 2345). Kinetic experiment was conducted in medium with 30% (w v-1) of soluble solids without supplementation or pH adjustment. The maximum ethanol concentration was in 44 hours, the ethanol productivity was 0.946 g L-1 h-1, the yield over total initial sugars (Y1) was 47.87%, over consumed sugars (Y2) was 88.08% and specific cells production rate was 0.006 h-1. The mathematical polynomial was adjusted to the experimental data and provided very similar parameters of yield and productivity. Based in this study, for one ton of soybean molasses can be produced 103 kg of anhydrous bioethanol.

Lean Product Management – Enhancing Product Managers' Ability to Create Value

The purpose of this master’s thesis was to study the opportunity to apply Lean practices to product management function which happens in an office environment. Since product management plays an important role in the company’s success story, it’s important to have it functioning as effectively as possible. The goal was to find those Lean tools and methods that fit the best to the needs of product management. The research was conducted as a qualitative action research which comprises a comprehensive literature review and a single case study. Theoretical information about Lean Thinking and product management was collected from articles, literature and Internet sources. Moreover, empirical data was collected by conducting interviews in the Case Company’s product management department in order to gain an in-depth understanding of product management’s problematics. The results indicate that most of the product management challenges could be overcome by applying Lean practises. Based on the usability rate, which has been discussed in the empirical part of this study, the most suitable Lean practises for product management function are: value stream mapping, Kanban and KPIs.

The role of product features on buyer-supplier collaboration in packaging industry

The thesis presents the study relative to the collaboration between suppliers and buyers in packaging industry with the impact of product features. The main purpose of this study is to examine the importance of product characteristics on collaboration to develop better packaging and to figure out how buyer-supplier collaboration in the supply chain perspectives is conducted and managed in packaging industry. The theoretical part reviewed some basic frameworks of collaboration including the scopes and levels of collaboration, risks as well as powers of collaboration, relationship and some key factors for successful collaboration. Followed by the overviews of packaging industry with the main issues related to product characteristics in packaging. By using the qualitative method, secondary data consisting of articles, reports, websites and primary data through interviewing some well-known packaging companies and case companies are collected in the thesis. The empirical result emphasized the importance of product features’ analysis in packaging industry since it plays a central role in the materials, design process, production and innovation with the role of collaboration. Collaboration in packaging is vital for packaging companies to survive and grow in the competitive environment. Finally, some key factors for effective collaboration were summarized based on the perspectives of packaging companies. It is highly recommend building a long-run collaboration with their customers due to undeniable benefits With increasingly importance of collaboration in packaging industry, further studies may be conducted.

PRODUCT DATA MANAGEMENT FOR FINNISH SMALL AND MEDIUM-SIZED MANUFACTURING ENTERPRISES - Towards a viable information system concept

Product Data Management (PDM) systems have been utilized within companies since the 1980s. Mainly the PDM systems have been used by large companies. This thesis presents the premise that small and medium-sized companies can also benefit from utilizing the Product Data Management systems. Furthermore, the starting point for the thesis is that the existing PDM systems are either too expensive or do not properly respond to the requirements SMEs have. The aim of this study is to investigate what kinds of requirements and special features SMEs, operating in Finnish manufacturing industry, have towards Product Data Management. Additionally, the target is to create a conceptual model that could fulfill the specified requirements. The research has been carried out as a qualitative case study, in which the research data was collected from ten Finnish companies operating in manufacturing industry. The research data is formed by interviewing key personnel from the case companies. After this, the data formed from the interviews has been processed to comprise a generic set of information system requirements and the information system concept supporting it. The commercialization of the concept is studied in the thesis from the perspective of system development. The aim was to create a conceptual model, which would be economically feasible for both, a company utilizing the system and for a company developing it. For this reason, the thesis has sought ways to scale the system development effort for multiple simultaneous cases. The main methods found were to utilize platform-based thinking and a way to generalize the system requirements, or in other words abstracting the requirements of an information system. The results of the research highlight the special features Finnish manufacturing SMEs have towards PDM. The most significant of the special features is the usage of project model to manage the order-to-delivery –process. This differs significantly from the traditional concepts of Product Data Management presented in the literature. Furthermore, as a research result, this thesis presents a conceptual model of a PDM system, which would be viable for the case companies interviewed during the research. As a by-product, this research presents a synthesized model, found from the literature, to abstract information system requirements. In addition to this, the strategic importance and categorization of information systems within companies has been discussed from the perspective of information system customizations.

Exploring the impact of celebrity endorsement and product class involvement on advertising effectiveness: an eye tracking approach

Celebrity endorsement has increased in popularity over the past decades and companies are willing to spend increasingly excessive amounts of money into it. Even though multiple studies support celebrity endorsement, further research on its impact on advertising effectiveness is called for. Fur-ther, the role of consumers’ product class involvement in advertising needs to be further studied. The purpose of this study is to explore if consumers’ product class involvement and exposure to celebrity endorsers affect consumers brand recall. Supported by earlier studies, brand recall was used as a measure for advertising effectiveness in this study. In general, a psychological approach was chosen for building the theoretical framework. Concept of classical conditioning was presented in order to understand why people act how they do. Balanced theory and meaning transfer model were presented in order to study how celebrities can be used effectively in advertising context. Further, the importance of product class involvement in advertising effectiveness was evaluated. Hypotheses were formulated based on a literature review of the existing research. Because of the versatility of the research design, a mixed methods approach for this study was adopted. Empirical part of the study was conducted in three stages. First, a pre-test was conducted in order to choose suitable product endorsers for the advertisement stimuli used in the experiment. Second, an eye-tracking experiment with 30 test subjects was conducted in order to study how people view advertisements and whether the familiarity of the product endorser and consumers’ product class involvement affects brand recall. For the experiment, a fictional brand was created in order to avoid bias on brand recall. Third, qualitative interviews for 15 test subjects were conducted in the post-experiment stage in order to gain deeper understating of the phenomenon and to make sense of the findings from the experiment. Findings from this study support celebrity endorsement by suggesting that a famous spokesperson does not steal attention from brand information more than a non-celebrity product endorser. As a result, the use of a celebrity endorser did not decrease brand recall. Results support earlier research as consumer’ higher product class involvement resulted in a better brand recall. Findings from the interviews suggest that consumers have positive perceptions of celebrity endorsement in general. However, the celebrity–brand congruence is a crucial factor when creating attitudes towards the advertisement. Future research ideas were presented based on the limitations and results of this study