The tea market of Bangladesh is growing rapidly. Tea sales have increased over the past years with the number of tea stalls offering sit down services. Most of the peoples of Bangladesh have accepted tea as an affordable refreshing beverage. We have surveyed different stores of Dhaka in order to create a new tea brand for the consumers researching on the current tea brands. After researching the market we came to know about the existing tea brands of Bangladesh. Our research led us to the top five tea brands of tea. They are as follows Ispahani Mirzapur, Lipton Taaza, Tetley, Finlay & HRC. They became the top five tea brands because of their quality, cost effectiveness & good marketing strategy. Most of them started as foreign brands, but now they produce and market locally. We analyzed the existing tea brands in the market for their composition, features, forms & product levels. Then we tried to reveal the pricing strategies of our rivals. The place, promotions & advertisements scrutiny came afterwards & thus we acquired a very good concept of the tea product line.
After all the research, we started building our own brand of tea “Real Tea” by analyzing all the gathered data. We will be exerting three new flavors of tea as mint, lemon & ginger as well as regular black tea. We plan to be different from our major competitors, as they don’t offer flavored tea. Our major concern would be on pricing, promotion s & building relationship with the consumers. We have chosen people of all age & society as our customers, but flavored tea will mainly focus towards youngsters. We will also try to follow product line filling & skimming pricing slightly as we want to accomplish intensive distribution & perform major promotions in all accessible sectors. It is essential for us to gain profits as well as building a good customer relationship. Our promotional activities will be intense but it will be of an emotional level. We will try to portray the fact that we all can do good for the society, for ex – through recyclable paper packaging. Shortly after establishing our brand name in the market we will set off for dynamic pricing depending on the sales. Therefore after the execution of our marketing strategy it will be possible to launch our product in the market. Our company will always be open to suggestions and change depending strictly on customer demands and feedback.
Purpose and Introduction:
Tea is a traditional beverage made from stepping the processed leaves or buds into water. It also refers to the aromatic beverage prepared from the grains of tea leaves with hot or boiling water. After water, tea is mostly referred beverage in the world. It has a hot, slightly bitter, astringent flavour which many enjoy. Most of the people of Bangladesh drink tea as a refreshment drink, but now a day it has become a habit of many. The different tea companies of Bangladesh are trying to innovate new ideas to capture peoples mind. Some of the tea companies in the have succeeded capturing the minds of the customers while others are busy to establish their brand name on peoples heart. Most of the companies have strong determination& follow excellent marketing strategy. Most of the companies are evaluated by their market growth rate & relatively market share. Although there is not much difference between the tea of different companies but the companies try to differentiate from each other targeting a specific group. As most of the people are heath conscious being aware of that different companies try exclusive methods to please people assuring the better quality of tea. Another consideration of buying the tea is based on pricing. In this case pricing strategy is needed badly. While researching on the pricing strategy we found that some companies are using market skimming while others relay on market penetration. Companies also try to say that their products are unique from their rivals. Companies try to capture...