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Marketing Presentation: Soul Tea Company Idea

Marketing 11 Final Project
by

Sophia Bosa

on 4 June 2013

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Transcript of Marketing Presentation: Soul Tea Company Idea

Soul Tea By Sophia Bosa and Joanne Yoon Soul Tea Product Description Say goodbye to bland and overpriced tea instead start your morning with our fresh and invigorating Soul Tea! our Soul Tea is a 100% organic blend of flavorful tea leaves from exotic places around the world including. INDIA
THAILAND
CHINA
SOUTH AFRICA Soul tea specializes in making eight classic teas with a twist ! these teas include: Rich and deep Dark Tea Blends. Black Tea Classic flavors like Orange Pekoe and English Breakfast.
Or go with our more exotic Darjeeling's tea from Northern India.
ranging from rich and bold flavour to dark and woody flavor we have the perfect black tea for you.
$4.00-$14.00/ 5 Grams depending on the blend you choose. Rooibos Tea Bold flavor but don't worry, there's no need to add sugar this tea is very naturally sweet already !
Caffeine free.
Comes from the very special 'Rooibos Plant' which, only grows in a very small part of South Africa.
So our customers can get decadent flavor without all the calories.
$6.00-$8.00/5 Grams depending on the blend you choose. Oolong Tea Flavor is a mix of the favorite's Green Tea and Black Tea.
Oolong needs to be steeped much longer than regular tea because the leaves are rightly rolled.
An ancient flavor that you will love.
$8.00-$12.00/ 5 Grams depending on the blend you choose. Pu'erch Tea Perfect for people with stomach problems.
used in china to aid in digestion for over 1800 years.
of very high value in china, and once you taste it we are sure you will feel the same.
$6.00-$10.00/5 Grams depending on the blend you choose. Flowery and sweet Light Teas. Green Tea most favored and consumed tea in the entire world.
has a list of health benefits that never end.
very versatile. from classic earthy green teas to a more creamy Matcha green tea.
$7.00-$20.00/5 Grams depending on the blend you choose. Mate/ Guayusa Tea regeneration tea.
super energizing from South Africa.
a blend of calm flavors that will do anything but calm you down.
people in the amazonian region have been steeping it for over 2000 years.
$4.50-$8.00/ 5 Grams depending on the blend you choose. White Tea most light and refreshing.
perfect cold or hot.
made from buds picked at a young age so you get a fresh and flowery taste,
praised for natural sweetness and health benefits.
$7.50-$16,00/ 5 Grams depending on the blend you choose. Herbal Tea one of the most versatile teas that we sell.
this tea can literally go for any pallet.
from chamomile to Mint, or more exotic flavors with berries.
Caffeine free.
$5.00-$8.00/ 5 Grams depending on the blend you want. Target Market Soul Tea has a versatile amount of flavors making it a tea for the person who likes bold or light flavors. although our product can be enjoyed by people of all ages we do wish to market to people ages 15-40. The reason for this is because the people in this specific group are the “now” generation. We want our product to be the in product, something that is considered to be a “new” and “modern”. A better version of the same old tea people are drinking on a day to day basis. With all of these different flavors and styles of tea we are able to market our product to various types of ethnicity. allowing for a much larger target market. Soul Teas Company also has the upper hand, this is based on the fact that we have teas that are from all over the world. Our product is also perfect for both Men and Women. The reason for this is because the people in this specific group are the “now” generation. We want our product to be the in product, something that is considered to be a “new” and “modern”. A better version of the same old tea people are drinking on a day to day basis. Soul Tea Can Be Enjoyed All Around The World ! Soul Tea is a high Quality tea.
The tea leaves we produce are 100% organic.
They are also 100% FAIR TRADE CERTIFIED.
We do not use artificial flavoring. This means that we are getting you a high qualtiy tea that is good for you, for the people around you, and for your earth at a reasonable price. Our tea is not for only for the wealthier customer, we have created our prices based on what the average person can afford. Whether you’re a person who enjoys sitting down and relaxing with a big mug of tea, or a person who’s always on the run our tea will be your favorite cup! Whether it’s a hot or cold day you can have our tea iced or warm, however you want it we can do it. Trends Some trends we are noticing in this market segment are: 1. Being Eco-Friendly In the past ten years the world has been going with more "eco friendly" approaches.
this includes organic products.
things that are good for the earth around us.
our tea hits all of theses points because we are : 100% organic with no artificial flavoring.
our products and paper bags used to steep tea are 100% bio-degradable.
we do not use harmful pesticides during harvesting. so we do not harm bugs, or plants on our farms. 2. Healthy Eating. recently people have strayed from unhealthy and artificial products and gravitated toward more natural ones.
people want things that taste good and are good for them.
this is why we have made our products 100% organic, and with no artificial flavoring. so the only thing being added to our leaves is what you put in yourself. Recently for 2013..... a diet from thousands of years ago comes back. called the 'Paleo Diet' based on what our ancestors use to eat thousands of years ago. it consists of 100% organically grown products including: eggs
dairy
meat
vegetables and fruit this means that our tea fits perfectly in with this diet because we use the most raw ingredients. In addition to dieting...... women of 2013 have been doing lots of cleanses and detoxes. Our teas can act as detoxes and cleanses as well as be apart of one your already on! 3. Fair Trade fair trade has become a huge part of the food and drink industry. you will see the logo on cocoa, coffee, chocolate, sugar, and many other products.
At Soul Tea all of our products are certified Fair trade. this means that: The farmers and workers who harvest our tea received a fair price for the crop,
Being fair trade means that we help people to compete in the global marketplace through direct, long-term contracts.
This market access lifts farming families from poverty through trade which keeps food on the table, children in school and families on their land. Look for these stamps and logos on our product packaging. they prove that we are certified Fair Trade. Market Segment This is a Pie Graph representing how the drink market is divided into segments. to the left you will see a graph representing how the drink industry is divided. tea only having 12%.
although this is only 12% we are looking at every possible type of drink, and we only want to focus on tea. even though tea is only at 12% right now, we at Soul Tea do believe that the tea industry is growing due to the rapid demand of organic and all natural products in the past few years. Organic food growth demand over the years as you can see demand for organic products jut keeps on going up.
this means that people do want all organic products.
and we can give get those to them. The Competitive Market we do realize that there are many other companies in this segment who flourish in it. For Example : Starbucks Davids Tea TAZO Tea Murchie's Above are companies that control the market and are most popular in Down Town Vancouver BC. All of these cafes and companies have become a favorite in Vancouver, where we wish to have or first cafe.
Our goal is to become as popular and as much of a favorite to our customers as they are to theirs.
Although these businesses have been at it for a long time we do believe that we can come out and WOW the competition. we are very different from the other tea companies.....
For example one of Davids's Tea tea's called “bamboozled” on the back packaging promises “Juicy flavors in this all natural blend” but, upon closer inspection and reading the ingredients one can read that they are not in fact all natural at all listing that one of they ingredients is “Artificial Flavoring”.
Here at Soul we wish to scrap the idea of artificial flavors completely, because the whole point of tea is to have something tasty and healthy.
This is where we will have the upper hand. We use 100% all natural and organic products. So you know exactly what you’re putting in your body when you drink it.
This and our exotic flavors are what will set us apart from the competition. Soul Teas Look this is just one example of the interior style of our tea cafe.
as you can see there is an open bar to smell and test your tea, and our products are all out in the open with ingredients listed on the back so you know exactly what you're getting. The Exterior these are some photos of our exterior look. as you can see we wish to go for a modern look with raw pieces. the great thing about this look is that it is very inexpensive to make but still gives us the look we're going for. with lots of natural light coming through the front and plenty of seating space inside and out our cafe is the perfect place fr you to enjoy your tea. S.W.O.T Strengths Soul teas strengths are that we sell 100% organic teas.
Soul tea is all certified fair trade.
We do not use any artificial flavoring.
We are great quality tea for a reasonable price.
This means that we are dipping into a market that is growing larger and larger every day because people want things that are fair trade and organic because the whole idea of all natural and eco-friendly is coming back. Weakness's Soul tea is not as big and well known as other tea companies.We only have two stores in down town Vancouver and other companies have many more.It is hard to get into a market segment where customers are very loyal to the company where they purchase their drink whether it’s Starbucks or David's Tea.
We will have to convince them that it’s worth it to try our product.
We do not have the top of the mind awareness yet.
We do not have as much advertising as other companies. Opportunities We will have many opportunities to gain customers. We have a chance to get the people who really want something that is highly organic but who cannot get access to it. Another window of opportunity is that once we grow we will be able to have more stores around the lower main land which will then allow us to get even bigger as a whole and bring in more money Because our products (tea) are from all around the world and follow ancient tea practices from different places our product can relate to a more international market, which in the future could allow us to branch out and sell our product around the world. Threats If our business is successful then other companies may see this and want to copy our idea because they might see that the market is going up and they will want to dip in and take some of our customers.Natural elements are also a threat for our company. If there is a drought in some of the places where we harvest our tea, which could be a huge problem for us. If we are un able to produce enough tea to satisfy our customer demand then this could cause us to lose some profit.Other companies like Starbucks and David’s tea can buy their tea in bulk there for making it much cheaper for them to sell. Whereas we are fair trade and we cannot buy in bulk there for making our product much more difficult to produce. Because of this other companies could be able to sell their tea at a cheaper price. Goals and Objectives Strategies Action Plan and Implementation What are we asking you for ? The End we wish to have at least 2 stores in down town Vancouver and the lower main land in the next year. In areas where people frequently go. Such as: Downtown Vancouver
Edgemont Village
Park Royal
English Bay
Metrotown
Lonsdale
Lynn Valley Places where people enjoy spending time or live near by. So that our locations are close and easy to access. On top of this creating a comfortable place for our customers to enjoy their tea. The average tea shop makes around $300,000- $600,000 a year. depending on our locations rent in a year should cost: A space in Down town Vancouver on Pender street near Gas Town, Waterfront Station and down the street from the SFU's downtown campus is $3,951 per month.
That's roughly $47,412 per year (for a 400 square foot spot). spaces in all of the locations that we wish to be range from $40,000-$75,000 To become a well known Cafe in the next year. This means getting out into Vancouver. We will make our Cafe and products known by: Advertisements! we wish to be something that is talked about. on blogs, in magazines and in food articles. as well as having adds posted around Vancouver. as well as this our products packaging is very unique there for it almost sells and defines itself. Chit Chat! Although we want to have advertisements around town, and we want our store to be recommended by magazines and blogs our products can also become well known by people talking about it. when more people try our products and like them we will gain top of the mind awareness. there for they will recommend us to their friends and family almost doing the advertising for us, if we get people who know lots of people for example the Real House Wives of Vancouver talking about our cafe and products then our customer amounts could increase because we were recommended by someone of higher status in Vancouver. With the same or just as much status as our competition in the Vancouver Area! to become a carbon neutral company. Being Carbon Neutral: being a FAIR TRADE company and striving towards being very "Eco-friendly" we want to make our shops Carbon Neutral. meaning that we would have a reduced carbon foot. we can reduce our carbon footprint by : Making our packaging out of recycled products.
And using less and more efficient energy to make our products.
As well as making our products 100% biodegradable. These are all things that we can do to make our company more Carbon Neutral! Acting on this we would like to be a 75% Carbon Neutral company in the next 3-4 years. Within Our Company: Around The World: in around 8 years our company could: invest in tea producing nations. at a grass roots level to help promote community development and stability.
investing in wind farm companies. in areas such as New Zealand. this will help to offset our energy consumption. therefor reducing our carbon footprint. The Unique Packaging Not only does Soul Tea have unique flavors and exotic teas but we also have some very unique packaging. We are the first tea company in Vancouver to do tea in this type of a package. There for we are something new and refreshing, something that consumers haven't seen before. The Idea Our tea packaging is meant to look like a flower.
Something that is lovely to look at, and smells great just like our tea leaves
The colors of the packaging vary depending on the types of tea that you choose to purchase.
With this origami style packaging Soul Tea makes drinking tea fun and beautiful. to create a safe and warm environment in our shops for our customers and staff. we can do this by: having well trained staff, and teaching them all about the tea art and all of its history. so that if you have any questions about our company, our tea, or about steeping we will be able to answer them for you.
staff that is happy to be working at our company and ready to serve you. people who are social and have inviting personalities.
as well as inviting staff we want our stores to be comfortable and relaxing a place where modern meets with natural and urban feel. being able to create community developing programs in the nations where our tea is produced. At Soul Tea We Are All About Giving Back.... one of our goals is to give back to the communities harvesting our tea. we want to help to build schools and homes for people who do not have them. and to help build wells and get them the things that they need on a day to day basis that they don't have. this will help our company to stay true to our FAIR TRADE and ECO FRIENDLY reputation. We wish to start doing this in the next 3-5 years. the 5 P's of Marketing in relation to Soul Tea Product Price Promotion Place The Four types of Marketing we would like to invest in are : Magazine Blogs and Chit Chat Television fun and colorful packaging that is unique.
100% FAIR TRADE Products.
100% organic products.
reasonable prices.
healthy for you, for the environment, and for the people around you. our prices range from $4.00-$20.00 depending on the type of tea you choose.
these are fairly reasonable prices considering how they are made and how they are organic/ fair trade.
we will have promotional deals like stamp cards. where if you buy 10 of our products you get a free cup of tea.
we will also have free Wi-Fi in all cafes so you can get work done or simply socialize over the internet while sipping on your tea. promotions include sales on some of our products.
stamp cards.
bring in your own mug and we will take 10 cents of your drink.
and many other promotions throughout the year such as seasonal and birthday related. Our products can be found at any of our Vancouver or Down town locations.
also we hope to have an online store in the next year where you can learn about our company, donate money to certain foundations we support, and purchase our products. Soul Tea wishes to be featured in well known food magazines such as: Food Network Magazine
Chatelaine Magazine
Vancouver Magazine
We wish to be recommended by them, this would increase the amount of customers that we have because its such a well known magazine for things such as food and drink.
As well as this it will let people in America know who we are because it is an American magazine which is also sold here. This magazine is Canadian and will help us to show our product to the rest of Canada. as well it is read by many people.
This is a fashion and food magazine, and being featured in it would be a huge deal for our company. Vancouver magazine is closest to home for us. being recommended by them would make soul tea a "Hot Spot" in Vancouver causing more people to want to check us out. Not only do we wish to be talked about in magazines but also on blogs. there are many food and fashion blogs with people who talk about the next hot spot to get a treat on the go. We want to be that place.
As well as being featured by blogs we need to be what everyone's talking about. this is how David's Tea got so big, People talk about what they love and other want to try it out for themselves.
It is a cheap and effortless way for us to get customers. For Soul Teas Advertisement and marketing this is where we wish to focus most of our time.
We feel that by having commercials that are all about being unique and all natural that we will be able to attract customers.
We will do this by only having one commercial to being with because it is so expensive to do television commercials.
Our commercials will be modern and unique, with a fun twist.
People We want to create a great experience for the customer.
There for we will hire staff that know what they are doing and talking about.
Staff who know all about our products, and about the art of tea so that they will be able to answer any of the questions you have.
As well, we wish to create a happy and positive environment with workers who are happy to be working for our company that are approachable and kind. considering that we are a small business and we will need a solid amount of money to start our company and pay for advertisements we will need around $ 80,000 So that we can really get our company started.
Pay for advertisements.
As well as to do what we can to make our company well know in all of Vancouver.
Thank you For Your Time!
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