We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Strategy for Introducing a New Product - Research Paper Example

Comments (0)
Name Institution Course Instructor Date Strategy for Introducing a New Product Tetley tea is a company that has persisted in the market for a long time. Its history reveals that it has existed for more than hundred and seventy years. Tetley’s presence in the market for long has seen it expand to over 70 countries selling its products…
Download full paper

Extract of sample
Strategy for Introducing a New Product

Download file to see previous pages... The company has loyal customers in the market because of its persistence. Today, it is still a dominant player in the tea industry in most of its countries. Tetley is just about to introduce a new product into the market. However, before the launch, the company needs to establish whether the market will accept the new product. In addition, the company needs to identify the specific target in the market. This paper will examine the market trends in order to provide the answers to these issues. Tetley has had immense impact in the market. It is through their marketing strategies that they have managed to win a large market share. Through this therefore, the company owns the credit for innovating tea bags in the early 1900s although the venture came after accidental realization that tea bags were a possibility in packaging. The company has its roots in the United Kingdom where its founders started out venture. The company has posted growth in several other countries. Despite the competition that has grown over time as new entries in the tea industry, Tetley tea still dominates the United Kingdom market. Tetley group has several sister companies operating separately. The entire sister companies offer unique brands to the region in which they operate. In 2011, Tetley dominated the market achieving 24% retail value in Canada. Tea products had a retail growth value of 4%. The volume growth in the same year was 1 %. The Canadian market posted C$ 547 million. The Canadians prove to be a good market for tea. They easily try out new tea products with the right persuasion (Masterson and Pickton, 2010:85). Tetley’s products did well in the Canadian market with black tea special brand scooping a 44% share followed by green tea with 31% while standard black tea got 18 %, which was a one percent rise from 2010. In addition, the herbal tea and fruit ranges of products as well as the color therapy proved a real success in the Canadian market. Future prospects indicated a growth in tea sales by 2016. In the United Kingdom, tea prices recorded an increase in 2010. Black tea made more sales in the market though it portrayed minimal growth. Herbal and green tea exhibited more growth in the market because of the health benefits. 12% of total sales of tea were the herbal and green tea. Most of the sales of tea were to people above 65 years accounting for 88% of consumption. Tea consumption was relatively lower for the younger generation. Tea is receiving competition from other products among the younger generation and the 90% breakfast tea sales were going down. The trends in 2011 changed because of the campaigns on the benefits of tea. This year saw Unilever take a lead in the percentage of sales. In the United States of America, tea exhibited an increase in popularity in 2011 because of the increased awareness of tea benefits on health. Tea posted a growth of 2% reaching 72278 tonnes. In this market, Unilever was leading in the percentage of sales. The tea industry in America is likely to show a 10% growth by 2016. The healthier products such as herbal tea, iced tea, and fruit-varieties stand a chance to indicate growth because of the health benefits (Masterson and Pickton, 2010: 86). The Indian market trends portrays that black tea, the standard variety still dominates because of the Indian cultural and traditional set up (Pride et al, 2011:131). ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
International marketing plan strategy to pentrate new market
In addition, increase in travel and tourism has also led to the growth of this industry segment. However, in the recent past airline industry market players have faced crisis situations due to the recent financial crisis which has robbed a major share of the profitability of the players of the airline industry.
16 Pages(4000 words)Research Paper
Marketing a New Product
s a large number of international brands under its banner. International brands like Skoda, Audi, Seat, and Bentley among others are encompassed by Volkswagen under its banner. Apart from just designing and manufacturing automobiles the group also works to render large number of services to its consumer profile.
8 Pages(2000 words)Research Paper
An Effective Marketing Strategy to Market Kashi's New Steam Meals in Singapore
The success of the company lies in the fact that it understands the lifestyle of modern world, the time constrict followed by people, and the increasing demand for organic food products. Kashi is a partner in the Non-GMO project and aims to make its products Non-GMO Project verified by 2015 with 70% organic content (Kashi, 2012).
19 Pages(4750 words)Research Paper
The swot analysis for introducing new product from apple company
When introducing new products innovation in products give an edge to the company, and thus they are able to penetrate the market. However, if the product is radical or discontinuous, then it plays a greater role on market capture (Veryzer, 1998). Apple Inc Apple Inc is a major digital asset management company that manufactures both hardware and software.
4 Pages(1000 words)Essay
New Product Deployment
The company allocates huge money on research and product development. The philosophy of the company is business starts with marketing and ends with marketing but marketing starts with marketing research and marketing research starts with consumer behaviour.
7 Pages(1750 words)Research Paper
Steps in Introducing a New Product in the Market

According to this case study, the success of a new product in the market mainly depends on a calculated risk that is based on thorough market research. The company took time to research about the needs and interests of the customers and it emphasised on the aspect of quality which helped it to gain a competitive advantage over other players in the same industry.

2 Pages(500 words)Case Study
New product
These refer to the expenses that the organization has the ability to change in the course of the production process. Some of the controllable expenses regarding the operation of the business include transportation cost, utility
5 Pages(1250 words)Research Paper
New Product Paper
Fuel charges are increasing day by day and consumers are getting more aware about the benefits of eco-friendly products (“Nearly Half Of Adults Are More Inclined To Buy
5 Pages(1250 words)Research Paper
The New Product Marketing Strategy
27). Bravia is a product promotional name that replaces the “LCD WEGA” which Sony used for their LCD TVs. As such all Sony high – definition flat-panel LCD televisions use the BRAVIA logo. Bravia televisions and their components are manufactured n Sony’s plants
12 Pages(3000 words)Essay
New Product Packaging

The writer insists that creative packaging will make the product successful, hence, our objective first will be creating a very attractive packaging that will emotionally connect with the consumers. The package must present the product fresh and appealing. The selection of the color is essential this will trigger the emotional engagement.

4 Pages(1000 words)Research Paper
Let us find you another Research Paper on topic Strategy for Introducing a New Product for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us