Market Research in Business
Background Information
Bubble tea is originated in tea shops in Taiwan during the 1980s, which consist of pearl milk tea and other similar tea and juice beverages. The tea and the flavoring was shaken vigorously to produced frothy bubbles in the beverage.
Bubble tea begins its international recognition spreading from Taiwan to other Asian countries before travelling to North America via the Asian community in Vancouver and the West Coast. Now bubble tea can be found across the country.
The competition of bubble tea is very stiff in Singapore due to the ease of entry as starting capital, labor and equipment cost are low, specialized knowledge is also not really required. There we can find bubble tea shops everywhere from shopping malls to housing estates. Apart from the famous bubble tea brandings like Sweet talk and KOI, there are still many other small ones, and with the presence of so many bubble tea brandings and choices, none of them is large enough to dominate the industry.
With the high level of competition, more ideas to improve business is needed from advertising, promotions to other services. As of today, one of the services provided by a few bubble tea companies will be deliveries. And according to our background research, many of these delivery services are made with requirements of minimum purchase or within their range of service. Therefore, our client is now considering the possibility of enhancing the service in targeting households. This will be classified under existing products; new markets under the Strategic Framework For Market Research In Business
Expansion as show in figure 1.1
Figure 1.1 Strategic Framework For Market Research In Business
Expansion
[pic]
Aims and Objectives
The overall aim of the study is 'to measure the profitability of delivering bubble teas to household'.
The three specific objectives include;
1) To examine how popular bubble teas are needed in household settings
2) To identify attitudes
Bubble tea is originated in tea shops in Taiwan during the 1980s, which consist of pearl milk tea and other similar tea and juice beverages. The tea and the flavoring was shaken vigorously to produced frothy bubbles in the beverage.
Bubble tea begins its international recognition spreading from Taiwan to other Asian countries before travelling to North America via the Asian community in Vancouver and the West Coast. Now bubble tea can be found across the country.
The competition of bubble tea is very stiff in Singapore due to the ease of entry as starting capital, labor and equipment cost are low, specialized knowledge is also not really required. There we can find bubble tea shops everywhere from shopping malls to housing estates. Apart from the famous bubble tea brandings like Sweet talk and KOI, there are still many other small ones, and with the presence of so many bubble tea brandings and choices, none of them is large enough to dominate the industry.
With the high level of competition, more ideas to improve business is needed from advertising, promotions to other services. As of today, one of the services provided by a few bubble tea companies will be deliveries. And according to our background research, many of these delivery services are made with requirements of minimum purchase or within their range of service. Therefore, our client is now considering the possibility of enhancing the service in targeting households. This will be classified under existing products; new markets under the Strategic Framework For Market Research In Business
Expansion as show in figure 1.1
Figure 1.1 Strategic Framework For Market Research In Business
Expansion
[pic]
Aims and Objectives
The overall aim of the study is 'to measure the profitability of delivering bubble teas to household'.
The three specific objectives include;
1) To examine how popular bubble teas are needed in household settings
2) To identify attitudes