MARKET POTENTIAL FOR 360-DEGREE PHOTO AND VIDEO AND VIRTUAL REALITY SERVICES IN MOSCOW – CASE COMPANY: 360FINLAND Oy

The thesis provides a market research of 360-degree photo and video and virtual reality services in Russia, in particular Moscow. The aim of the study is to figure out the potential of the Moscovian market and furthermore to create an entry market strategy for a small Finnish company. The virtual reality market is growing in Russia and globally. Russian companies use the solutions provided by virtual reality and are going to use it more. Moscow is the largest metropolis and a highly developed market ideal for expanding business activities in the country. Restaurants, hotels, real estate companies, manufacturing companies, marketing agencies, and cultural establishments are six target segments that were selected to provide with the 360-degree and virtual reality services of 360Finland Oy in Moscow. The conducted interviews revealed that respondents are interested in 360 and virtual reality services. They pointed out that price is the key factor regarding purchasing the services. Efficiency, portfolio, and the party offering the services are the other mentioned factors. There are plenty of competitors on the market in Moscow, and the price of the services needs to be carefully monitored in order to stay competitive. In the beginning, the company can offer only 3D environment services on the Moscow market. Partnership with a marketing agency and direct exporting are the chosen ways of entering the market for 360Finland Oy. In order to find potential customers and partners in Moscow, cold calling and emailing as well as participation in exhibitions and trade shows are recommended promotional activities