scenario Introduction Our project is that a local foreign co

scenario:

Introduction: Our project is that a local foreign company entering another country. So based on this we choose to take Indian tea to turkey. We are choosing Turkey just because their people are the top consumer of tea all around the world. There is something you should know about Turks, they love their tea. Love might not even be a strong enough word; their lives are wholly consumed by the ingestion of tea. There is no facet of Turkish life in which drinking tea is not an acceptable behavior. While Turkey is almost certainly better known for its Turkish coffee, tea for Turks is the overwhelming drink of choice. In fact it is so popular that Turks are now the number one consumers of tea in the world per capita, even surpassing England and China. Wherever you go in Turkey, tea or coffee will be offered as a sign of friendship and hospitality, anywhere and anytime, before or after any meal. They never offer anyone juices and drinks. Tea consumption here is so great that the average Turk consumes almost 7 pounds of tea per year. This is the reason that why we are taking our Indian tea to turkey. India is on number 2 in producing tea and turkey is on number 5. So our tea brand name which we are going to introduce in Turkey is “caylacious” and slogan is “Rise and Shine” and we are introducing a new grape flavor tea in Turkey. The most widely used brand of tea in Turkey is Caykur Rize tea. Caykur produce many variations of tea but they are not producing and selling the grape flavor tea and this is the reason that why we choose grape flavor. Grape flavor tea has so many benefits, Grape leaves, roots, seeds and the vines have been used for centuries for its health benefits. Grape leaves have been used as an anti-inflammatory, for their high antioxidant content, to improve blood circulation, support weight loss by improving metabolism, to relieve stomach aches, reduce acid reflux, relieve headaches, remove water retention, detox the liver, reduce high blood pressure, and many more. The leaves that are popularly used to make tea are rich in vitamins A, C, riboflavin, niacin, foliate, pantothenic acid, and thiamine. Grape leaf tea known for its delicious sweet taste is commonly used to treat stomach-aches, diarrhea, and thrush. Grape Leaves contain stilbene syntheses’ which is an enzyme that helps create resveratrol(reduce risk of coronary disease and cancer) in the body. Grape Leaves are great for the skin because they contain lots of vitamin E, polyphones like green tea and other natural ingredients that age related lines and dry skin. Grape leaves are very low in calories because they contain no fat and almost no digestible carbohydrates or sugar. A handful of grape leaves have less than 30 calories, which is probably less energy than it takes for you to chew, swallow and digest them, which makes its tea a good choice for weight loss. As people are becoming more health conscious now a days and it’s a plus point for us that Turkish people are very much fond of tea and Caykur who is the biggest seller of tea in Turkey is not producing this flavor that is why we choose to go with this. The Target market which we choose to serve is people who are the age of 25 to 50. We are targeting both youth and old because for oldies grapes flavor helps in saving person from so many diseases and flow blood easily. And as our youth are more health and skin conscious so it helps in loss weight, making skin glower, etc. the reason of taking this tea to Turkey from India is just to expand our business and let people aware about us. Competitor analysis: While doing competitor analysis we’ve find out following competitors in turkey • Oralet (flavor tea) Oralet in Turkey is our biggest competitor the reason behind this is that they are offering flavor tea like it’s a fruit tea with flavors such as orange, apple, lemon, and cherry. They are offering these flavors but are not offering grape flavor. It’s a benefit to us but the threat is also there that they are already present in market so they tried to not to let us enter in the market. Because offering a new flavor with more benefits can either hurt them because we are also coming with flavor tea and they are also dealing in flavor tea. So they take steps not to let us enter in market. But we have to compete and make a good place. We can tackle with it by linking our distribution with Caykur who is the biggest seller of tea in Turkey. Here we are dealing Caykur as a competitor but as a distributor. • Hazerbaba HazerBaba is also selling tea in different flavors like green apple tea, lemon tea, honey ginger tea, pomegranate tea, apple tea. As they are also dealing in flavors so it is also our competitor. And to cope up with this threat we have to let people aware of the thousands of benefits of grape tea. As Caykur has excellent online presence so by linking our brand with caykur, people can trust us more easily due to strong position of caykur in market. We can advertise through different online channels as caykur is doing. We can also use a model or a celebrity who have strong fan following in Turkey to let people aware about grape tea and its benefits. We can also get certification from food authorities to attract people towards us because people are more health conscious now a day. Doctors can also help us if they recommend it to their patients or the people they know or either we can use doctors in advertisements. Life cycle of product: Our product have longer life cycle. As the introductory stage is more expensive (while coming in a new market) among all stages of life cycle so start with the small size of market which means sales are low but it will increase with time as people become aware of it. On the other hand, the cost of things like research and development, consumer testing, and the marketing needed while coming in a new market can be very high, especially if it’s a competitive sector. After that, the growth stage started. Now company start earning profits this makes it possible for businesses to invest more money in the promotional activity to maximize the potential of this growth stage and to attract more customers and capture great market. Then comes the maturity stage, in this the product is established and the aim for the manufacturer is now to maintain the market share they have built up. This is probably the most competitive time to invest wisely in any marketing they undertake. Then comes decline stage, it’s the situation when market becomes saturated, it means that all the customers have used the product and switching to different type of product but we can use certain strategies to sustain our position in market. We can do Re packaging means after some time we can change our packaging to bring change or we can either provide in different shapes of packaging which attract customers. We can either provide our product in the packaging which looks like grapes or looks like a slim body structure as grape tea helps in losing weight. Second strategy is discounting means re-pricing the product by discounting it so it can reach out to a target market that has typically seen the product as being just out of reach. We can capture more customers who are price conscious by using it.

http://atdaa.com/all-you-want-to-know-about-turkish-tea-culture https://healthybenefits.info/the-health-benefits-of-grape-leaf-tea/ http://turkishtravelblog.com/turkish-tea-types-caykur/ http://productlifecyclestages.com/ http://smallbusiness.chron.com/product-life-cycle-extension-strategies-3280.html

Please provide Strategies and 4P\'s of marketing ASAP.

Thanks

Solution

Ans: Marketing strategy adopted by the company is Laggard entry strategy.The company is focusing on a single segment.The company is an imitator where they are introducing the same product that is Tea but in a different flavor.

Here the company has adopted a distribution strategy to enter turkey tea market .It is an agreement to distribute another firm\'s products.They have chosen caykur for handling distribution in turkey. It is a common strategy to reach international markets without the cost of developing a distribution network.

Their promotional strategy is similar to caykur both are focusing on online marketing . Already caykur has a strong hold in it. Online marketing will help the company to promote its grape flavor tea among its target market.

Ans 2. 4P\'s of marketing for the indian company are as follows:

a. Product: The company is providing unique flavor in tea (grape). Consumers in turkey has the highest consumption rate all over the world. There are many companies that provide different flavours in tea. Grape flavor is newly introduced in the company. Product features of grape tea is focusing more on health benefits, which makes it unique and competitive from other company\'s product.

b. Price: Company is in introductory stage where it cannot reduce the price of the product. It can price the tea at the same price of the competitors to get a competitive edge over the product.

c. Place : Company has chosen Caykor as distribution source for entring the market.Since its all together a new country its better to choose the company that has already established itself in the turkey market. It becomes easier to reach the target customer. There is no need to build a new distribution channel as they have already established one.

d.Promotion: It represents various aspects of marketing communication.Caykor is already having its presence in online marketing which will help indian company to easily promote their product through online marketing. It can also adopt Televsion advertising and bill boards for promoting their product.