FLOATEA company Essay

1. Executive SummaryFLOATEA company was founded in Manila, Philippines in 2013 by Joseph Ventinilla, Shi Gerard, Grace Cervantes and Eddie Velizano, with the vision to machinate the consumers about fine draw tea leaftimes. FLOATEA is an organization that offers different variants of take out teas that testament tumble you special fix. Se comparabilityating it from the opposite pearl take out tea shops, FLOATEA (Float Ice convulse + milk Tea) is an extraordinary kind of pearl milk tea because of its fantastic delicious taste. A freshly brewed tea with the best crank work excel mixed with your favorite flavors. It is a combination of creamy icing cream, sweet, and salty that leave behind balance the reclaim sweet spot.We wait on milk teas such as winter melon milk tea, caramel milk tea, strawberry milk tea, chocolate milk tea, and vanilla milk tea. These flavors of ours get out give individually individual a taste that will never be forgotten. We as well as cater the best ice cream flavors as a topping for the preferred milk tea. We provide HEALTHYLICIOUS and SWEETYLICIOUS ice cream flavors.Our position in the securities indus castigate is ground on the way our product is being delimit by our consumers turning the important factors such as impairment, quality, product syllabus, and application. FLOATEA in like manner take on the relationship selling that aims delight rather than satisfaction. FLOATEA asss kids (middle to college crystallise) who had a great entrust of thirst to barter for premium milk teas. It also targeted the ones who argon ofttimes visiting to the place of Bonifacio High Street like family, couples that go at that place for dating.2. Current merchandise SituationThe global tea production offshoot rate in 2006 was more than 3% to reach anestimated 3.6 million. The expansion was chiefly due to record crops in China, Viet Nam and India. Production in China add-on 9.5% over the record in 2005, to 1.05 millio n. in 2006, by dint of Government policies to step-up rural household incomes. Expansion of 28 percent in Viet Nam gave an proceeds signal of 133,000 as tea bushes reached optimum yields. India had a 3% increase in harvest out puzzle of 945,000 for the class. This growth offset other major countries, Kenya and Sri Lanka, where out drift declined by 6 and 1.6%, respectively.The milk tea craze continues to grow in the Philippines, as a result of the rapid expansion of kiosks selling milk tea. These include brands such as Gong Cha and Cha Time. These outlets have reinvigorated the market and are capturing students and young professionals as their consumer base. Due to the introduction of these chained foodservice outlets, Philippine consumers are being exposed to more tea flavours and variants, further increase the sophistication of the market. Unilever Philippines Inc had an overall value share of adjoiningly 25% in 2012, and was the leading brand manufacturer in tea through i ts best-selling(predicate) brand Lipton, one of the scratch line tea brands in the country. Unilever Philippines Inc produces a wide-cut variety of teas, covering black, fruit/herbal, green and pulse tea. Its affordable prices and tough distribution harbor it a popular choice among consumers.Milk tea is likely to grow even more over the forecast period. instant(prenominal) tea, in particular, has minimal penetration in the market. It is priced on a par with instant coffee, giving it the potential to compete with instant coffee brands. With the right marketing and advances, and improved distribution, it could take some market share from instant coffee.3. Threats and Opportunities Analysis invigorated services help FLOATEA to better meet their guests take. These services butt joint FLOATEAs business and diversify their guest base. New technology helps FLOATEA to better meet their customers demand with pertly and improved products and services. Technology also get alongs competitive barriers against rivals. New products can help FLOATEA to expand their business anddiversity their customer base.They have a strong competitors and their threats are the Zen Teas, Infinitea, Chat time and other milk tea beverages. Infinitea serves a wide variety of tasty and refreshing true(p) pearl milk tea drinks for all you fanatics out there. Guaranteed made from light speed% freshly brewed loose-leaf teas of high quality for an overall healthier lifestyle. Chatime is the next tailor in beverages. A unique Tea concept that is dedicated to make Tea a healthier, refreshing and fun alternative to Coffee. Unlike the handed-d hold Tea houses in the Far East, Chatime is making great inroad in marketing tea to the mass populace. Chatime unbuttoneded its first outlet in the year 2005 in Taiwan and also the number of stores which is approaching to 1000 in 80 cities in four continents worldwide. You can now find Chatime in the US, Canada, Australia, Taiwan, China, Malays ia, Indonesia, Philippines, Vietnam, Singapore, UK and India.4. Objectives and Issues food marketing ObjectiveTo offer consumer best health advantage through FLOATEA.To establish as market leader in herbal tea industryTo enable FLOATEA to satisfy, fulfill the consumers personality & lifestyleTo increase FLOATEA popularity as an icon in Tea product.Issue Analysis master(prenominal) issues that should be addressed in the Action PlanCompany needs to gain experience in the market placeAggressive promotion efforts to establish brand name and gain market share5. Marketing schemeSeparating it from the other pearl milk tea shops, FLOATEA (Float Ice Cream + Milk Tea) is an extraordinary kind of pearl milk tea because of its eccentric delicious taste. A freshly brewed tea with the best ice cream topping mixed with your favorite flavors. It is a combination of creamy ice cream, sweet,and salty that will balance the right sweet spot.Our position in the market is based on the way our product i s being define by our consumers considering the important factors such as price, quality, product class, and application. FLOATEA also consider the relationship marketing that aims delight rather than satisfaction. Floatea target middle class (middle to college class), young professional (new graduates), and professional (working stage). And most especially those people who are near and often there at the place dating and visiting. Floatea also has targeted the people who are Milk Tea lovers who want to experience and try something new about Milk Tea. Also, Floatea has targeted people who love ice cream. Milk Tea and ice cream all in one.Service StrategyOur strategy would be, were going to launch in our limb a mini-museum in spite of appearance where in people who go there would be entertain and educate about milk teas and ice creams.We think of set a creativeness side where in people can redact or mail service whatever they want to say. They can draw and create verbally on the positioning it and post it on our walls with different kinds of colours of paper. Were going to put entertainment side where there is a playstation and xbox Kinect wherein they can play for extra when they buy FLOATEA from us.Pricing StrategyOur pricing type is value-based pricing that is based on the customers perceived value of our product depending on the quality and service we could offer to them. We believe that our product is competent adequacy to be one of the best and delicious milk teas that they could ever experience. forwarding StrategyPromotion in Bonifacio High Street (BHS)We will press our product in Bonifacio High Street by spreading the word in the social networking sites about our product. Also, for the first day, the first 30 customers will have the floatea for exempt. We will be giving out flyers starting in the malls Market Market and SM Aura, and from Serendra to the other buildings in Bonifacio High Street. another(prenominal) than that, we will be p osting short video of our product together with the other information aboutit in the social networking sites.We will also be having our own website for further information.DemographicFloatea target middle class (middle to college class), young professional (new graduates), and professional (working stage) who had great desire of thirst to purchase premium milk teas. And most especially those people who are near and often there at the place dating and visiting.PsychographicOn the grounding of psychographic, Floatea has targeted the people who are Milk Tea lovers who wants to experience and try something new about Milk Tea. Also, Floatea has targeted people who loves ice cream. Milk Tea and ice cream all in oneTechnographicPeople who uses social-networking sites like Facebook, and Twitter.Market positioningWe are positioning the floatea as the most catchy and unusual taste, and would provide the unforgettable experience to each and every customer. As we serve the unique teas that br azenly gets the creamiest ice cream on top of milk tea. But flexible to be adjusted the taste bt adding or to diminish its toppings by customers own choice.Target SegmentCustomer NeedsBenefits midst class ( middle to college) consumer marketSatisfaction queer drinking experienceSocial belongingPriceSocial standingPremium priceGood looking impudentYoung professional ( new graduates) product line MarketSatisfactionTo remove evince in workUnique drinking experienceEasy to take outQualityRefreshingProfessional ( working stage) Business MarketSatisfactionTo remove stress in workTo relaxHealthy lifestyleHealthier than well-situated drinksConvenientNutritional informationQualityHealthier alternative to unplumbed sugar6. Action Programs2013JanuaryFirst week of January start of a New Year our first branch and product FLOATEA will be open to people on Bonifacio High Street on 7th channel near Market Market, SM Aura and other restaurants there. Will be also giving free milk teas with a ny flavours they want for the first 30 costumers.FebruaryOur company would start providing boostments for our consumers especially our target market to pluck them of our product. Will be giving out flyers and promos away from us to advertise and let them know about us.MarchWe launch in our branch a mini-museum inside where in people who go there would be entertain and educate about milk teas and ice creams.AprilWe would be belongings a bazaar convention that gives away prizes from raffle draws, special discounts for dealers, and partnerships to companies. An addition in advertisement will also be made where target market.MayWe will be having our own website for advertisement and will give out flyers and posters directly to our possible buyers and consumers.JuneWe innovate our main branch and put entertainment side where there is a playstation and xbox Kinect wherein they can play for free when they buy FLOATEA from us.JulyBecause many buyers and people go to our place we build a second floor for our customers to have more space to stay and quiver in when they buy milk tea from us.AugustWe think of putting a creativity side where in people can put or post whatever they want to say. They can draw and write on the post it and post it on our walls with different kinds of colours of paper. kinsfolkWe put a drive thru for people who are in a hurry and buy FLOATEA without leaving their carsOctoberAfter innovation, we expand our FLOATEA business and build more branches to different places in Pasig, Mandaluyong, Makati and Manila. In different branches they have their own theme and marketing strategy.NovemeberWe plan to have our own brand ambassador which would be Kuya Kim, Matteo Guidicelli and Sarah Geronimo for their outstanding know about health, lifestyle and popularity. Because of this our product will be more known for people and we will be adverstide in tv and commercials.December January 2014We prepare and countdown for our 1 year anniversary in our main branch and will be having a programs such as activities, games, education talk and teaching about milk teas and healthy supporting while having a free FLOATEA for everyone for the first 100 customers7. ControlsMarketing managers of FLOATEA are encouraged to re-examine their goals and objectives on a bi-weekly basis and assess advantage and shortcomings. Based on their evaluation results, they are encouraged to make earmark changes to drive the company forward. Each objective in this plan is smart, and should be evaluated monthly to see if the company and marketing program is on course to achieve it.