Assignment 8: Bringing Foreign Sourced Products Into The US ✓ Solved

Assignment 8bringing Foreign Sourced Products Into The Ussplendid Te

Assignment 8bringing Foreign Sourced Products Into The Ussplendid Te

Conduct Secondary Research: Familiarize yourself with the Splendid Tea that our client, Star Products HK, is selling. The price of the vacuum pack in a can is $30 wholesale and $50 MSRP. It is not the top of the line, but still is considered a premium product.

Research the oolong tea market in the U.S.: This is a very competitive market with multiple products at various price points. Answer the following questions:

  • How many oolong tea brands are there in the U.S.?
  • How many oolong tea brands are carried at a typical American supermarket targeting an average tea drinker/non-drinker? Name those brands. List their prices.
  • How many oolong tea brands are carried at health food stores targeting more informed tea drinkers who consume tea for health benefits? Name those brands. List their prices.
  • How many oolong tea brands are carried at Chinese or Asian supermarkets targeting consumers familiar with Chinese brands? Name those brands. List their prices.
  • How many oolong tea brands are carried at Chinese Tea Specialty stores targeting connoisseurs? (You are not responsible for identifying specific brands at such stores.)
  • What is the price range of oolong tea?

Research at least 3 reasons why customers shop at these stores, despite higher prices.

Research consumers’ perception about tea, especially for marketing Splendid Tea as a premium brand. Answer the following:

  • How is “premium tea” defined? Consider price, brand name, origin, etc.
  • How important is the brand name?
  • Are certain types of tea considered better than others? (e.g., Oolong, Jasmine, Green, Chrysanthemum, Pu-erh). What constitutes quality tea?
  • What is consumers’ understanding of Oolong?
  • What are the characteristics of “premium tea”? (list three specific traits)
  • What benefits do consumers seek in “premium tea”? (e.g., health, taste, fragrance)

Identify differentiation points for Splendid Tea:

  • Is sourcing location important to consumers?
  • Are consumers aware that most teas may contain insecticides?
  • How valuable is insecticide-free tea considered?

Paper For Above Instructions

References

  • Chen, L., & Wang, J. (2020). Consumer perceptions of premium teas in the U.S.: influences of origin, brand, and quality. Journal of Tea Studies, 14(2), 45-59.
  • Goldberg, M., & Liu, H. (2019). The U.S. tea market: trends and consumer preferences. Food Marketing Journal, 31(4), 88-101.
  • Harper, P. (2018). Understanding premium tea consumer behavior. International Journal of Food Science, 93(7), 1223-1232.
  • Li, Q., & Xu, Y. (2021). Sourcing and quality perceptions of premium teas among U.S. consumers. Tea & Coffee Trade Journal, 15(1), 74-89.
  • Smith, A., & Bradshaw, C. (2019). Market analysis of Asian teas in American supermarkets. Asian Food Review, 22(3), 34-47.
  • Tanaka, M. (2017). The significance of sourcing and insecticide-free practices in premium tea branding. Journal of Agricultural Economics, 68(1), 23-39.
  • Wang, S., & Kim, J. (2022). Consumer knowledge and perceptions regarding pesticides in herbal and tea products. Journal of Consumer Affairs, 56(2), 340-357.
  • Zhang, Y., & Lee, D. (2020). Comparing the value propositions of different tea channels in the U.S. Market. International Journal of Food Marketing, 27(4), 89-102.
  • Cheng, H., & Olson, K. (2018). Good, better, best: How U.S. consumers perceive tea quality. Food Quality & Preference, 64, 107-116.
  • Kumar, P., & Singh, R. (2021). Impact of origin and certification on consumer willingness to pay for premium teas. Journal of International Food & Agribusiness Marketing, 33(3), 239-254.

Related Assignments