Bristol tea is the one of the SME in the UK. The firm intends to expand its green tea business in the Vietnamese market. In this regard, opportunities for the firm in the Vietnam market are identified. Apart from this, in the report, market segmentation, targeting and positioning of the product is also done. Further, marketing mix is developed for the company and issues that firm may face in respect to it are also identified. At end of the report, conclusion section is prepared in the report.
Bristol tea is the independent company that is located in the UK and is an SME. The mentioned company directly purchases raw tea from the India and Sri Lanka. Like Starbucks Bristol tea have supply chain and it directly make purchase of raw tea from the farmers. Bristol Tea currently offered multiple sort of tea to the customers in the UK. Presently, the firm is offering Black Tea, Green tea, Oolong tea, White tea, Scented tea and Herbal tea(Bristol Tea., 2020). Currently, the firm is focusing on Green tea out of entire product lines.
Social environment will greatly affect business as people of Vietnam are very health conscious. There are varied health benefits of Green tea and due to this reason its demand is elevating consistently in the Vietnam and other Asian nations. It can be said that one of the reasons behind the fast growth in the demand of Green tea is medical benefits it gives to its consumers (Ošťádalová and et.al., 2015). In the Vietnam cardiovascular disease and obesity is one of the major problems. Economic growth of Vietnam is 7% and growth rate of 5.8% is estimated for Green tea market in the Vietnam(Nguyen‐Van, Poiraud and To‐The., 2017).Vietnamese firms that are in tea business today also use outdated technology. On other hand, Bristol tea use advance technology and it will assist firm to offer better quality of products to the people(Tran and Goto, 2019). Political environment is favorable to business as there is no need to take import and export license to do trade in Vietnam (Tran, Le and Thai-Nguyen, 2015). Bristol tea just simple need to register it into Department of planning & investment and need to take investment certificate from it to commence trade in Vietnam.
There is large number of competitors of the Bristol tea in Vietnam market. As Vietnam is known for growing multiple variety of tea across the globe(Chungyalpa and Bora 2015). Green tea demand is constantly increasing among Vietnamese people. There are number of suppliers of tea and logistics companies that have wide supply chain network in Vietnam which are used by the rivals to distribute tea at large scale in the nation.
On the basis of the above discussion, it is concluded that green tea market is consistently increasing in the Vietnam market. Green tea has many health benefits and it is a major USP of the product. This is the reason due to which it is expected that Bristol tea product will have great demand in the Vietnam market. Psychographic segmentation and those who care about health and professionals is the best segmentation and target audience for the Bristol tea in the Vietnam market. This is because those who care about health and professionals are expected to early adopt product in the market. The firm will keep its product price low in the market. Multiple varieties of the green tea will be offered to the customers. Through distribution houses and large retailers, product will be distributed in the entire market. The product will be advertised through FB.