Business Project on Marketing Management

Business Project onMarketing ManagementKanishka Tekwani XII - GAcknowledgements I, Kanishka Tekwani, would like to take the opportunity to thank my school for giving me the opportunity to present my work and showcase my talent. I would also like to thank my Business Studies teacher, Ms. Suganthi Pandian for her constant guidance and support. Last but not the least, I would like to show my gratitude towards my family and friends for their moral support and help.TitleMarket Research for understanding concept and Marketing Mix in case of the chosen product.ContentsWhy I have selected the product, Iced Tea?

As the temperatures go up, the need for an escape from the scorching heat becomes a need than a want. Iced tea is a form of cold tea, usually served in a glass with ice. It may or may not be sweetened.Five Competitive brandsLiptonNesteaSnappleTazoHonest Tea

Evolution of Iced TeaIced tea, which was first served about the time the first tea bags were created by Sullivan, was also invented inadvertently. It was first introduced at the 1904 Worlds Fair in St. Louis. Richard Blechynden, a tea producer and plantation owner from India, had set up a booth to promote his black teas. The sweltering summer heat and humidity prompted him to serve the tea over ice, just to get people to try it. It became an instant hit at the fair. In the 100 years since then, consumption of iced tea in the U.S. has grown to over 40 billion cups per year.Ever since it was invented, iced tea has steadily gained popularity. From its early beginnings as an alcoholic punch to now, as a popular thirst quencher, iced tea has become a bigger and bigger business. A multi-billion dollar one, in fact. And the draw of billions of dollars has made hundreds of iced tea brands available. Iced tea is popular with people who want a nonalcoholic alternative at mealtime.

License to make Non-Alcoholic Beverages(a) No person shall manufacture for sale in bottles or jugs any soft drink or other nonalcoholic within this State without having first applied for and having received a license from the Department of Health and Social Services. (b) The application shall contain the name of the applicant, the applicant's address and the location of the applicant's manufacturing plant or plants, the name of the beverage or beverages to be manufactured and such other pertinent information as shall be prescribed by the Department of Health and Social Services in pursuance of this chapter. (c) The application shall be accompanied by a fee of $25, upon receipt of which application and fee the Department of Health and Social Services shall issue to the applicant a license for the manufacture of the beverages mentioned in this section. (d) the Department of Health and Social Services shall have authority to approve artificial sweeteners for use in carbonated beverages. Competitors Unique Selling Proposition Liptonnaturally refreshing flavors. deliver outstanding on-the-go refreshment.To help maintain hydration and health Nesteaexpertly blending tea and fruit to give a refreshing, great tasting and naturally good drink.Drink chilled for ultimate taste enjoymentRefresh your senses.SnappleAll-Natural refreshment.Riding a wave of diet beverage maniaUnadulterated food productsTazoTazo is life, reblendedEach cup is a story, unfolding with every sip.natural ingredients and sweeteners.Honest Teaembrace the simplicity of tea water and leavesmakes it easier for people to enjoy lower calorie refreshment.organic bottled tea and a naturally decaffeinated tea

Price Price is the amount paid in exchange or a commodity or service. Price of the product depends on competition in the market, governmental regulations, demand of the market, quality and quantity of the product.

LiptonSelling Price to customers : Rs.35Selling Price to retailers : Rs. 33Selling Price to wholesalers : Rs.31.5

NesteaSelling Price to customers : Rs.20Selling Price to retailers : Rs. 18.75Selling Price to wholesalers : Rs. 18

SnappleSelling Price to customers : Rs.26Selling Price to retailers : Rs. 24.5Selling Price to wholesalers : Rs.22.5

TazoSelling Price to Customers : Rs.22Selling Price to Retailers : Rs. 20.5Selling Price to Wholesalers : Rs. 19.5

Honest Tea Selling Price to Customers : Rs.18Selling Price to Retailers : Rs.17.5Selling Price to Wholesalers : Rs.16

The profit margin of the retailer is 6% and that of the wholesaler is 4%.

Brand Name : Refresh

Tagline : Cool to the CoreFeatures : Variant flavors and rich in Antioxidants.No artificial sweeteners.The essence and taste of tea is revived.It helps relax and restores energy.

Refresh RangesHoney and GingerAvocadoCitrus MixVery BerryGrapefruit

Label

Packaging of RefreshCan 250 ml

Sachet Serves 6

Bottle 550 ml

Carton 1 Liter

Selling price of RefreshTo the Customers = Rs. 25To the retailers = Rs. 23.5To the wholesalers = Rs. 22.5

Promotion of my brandTV Advertisements : This is the best mode to advertise a product like iced tea as it has wide and speedy reach to customers. It combines the power of sight and sound and thus have a direct impact on the minds of its viewers.

Outdoor Advertising : Electronic displays, Billboards, Posters and Hoardings are used in this mode of advertising . It remains valid for a longer duration of time.

Transport Advertising : This mode covers a wide range of mobile customers. It is economical and within reach of all classes of entrepreneurs.

Quantity Plus : Offering more quantity for no extra cost.

Price off : Offering a discount in the price for a specific period.

My Unique Selling PropositionThe unique selling proposition of Refresh is its health factor as it includes vitamins, proteins and other nutrients) and no artificial flavors.It quenches thirst and revives body, mind and soul.

Means of Transport1) Airplanes : Air Transport is used to transport the iced tea across international borders so as to make it available to worldwide customers.2) Shipment Consignments : Sea Transport is used to transport large quantities of iced tea to different countries.3) Trucks : Regional and National distribution is done via land transport. This proves to be economical and feasible.

DistributionIndirect channels are used for the distribution of Iced Tea.This is done via wholesalers, retailer and agents. This is done as :Iced Tea is a consumable product with good shelf life.The market for Iced Tea is wide and scattered. Also indirect channels are preferred for national and international distribution.Intense competition between brands prevails in the market,

WarehousingRefresh Iced Tea is stored in a warehouse with both refrigerator and normal shelf facilities.It should have the right temperatures to store bottled, canned and carton iced tea.There should be sufficient space to accommodate adequate stock of both refrigerated and sachets of Iced Tea.

Social MessageRefresh Iced Tea quenches thirst like no other. Its healthy and replenishes energy. Its vibrant colors and flavors will attract people of all ages.It is an economical drink. Its discount and quantity plus offers make it even more accessible to lower middle class customers.The bottles, cans and cartons are all bio degradable hence even environmental protection is taken into consideration will manufacturing Refresh Iced Tea.

OUR OWN ENGLISH HIGH SCHOOL DUBAI

Certified that this project report Market Research concept and Marketing Mix in case of the chosen product is the bonafide work of Kanishka Tekwani who carried out the project work under my supervision.

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