Comparison of Twining English Breakfast Tea and Yorkshire Tea
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This report includes comparison of product, price, place and promotion of Twining English Breakfast Tea and Yorkshire Tea. Both are well established tea brands. Twining English Breakfast Tea have managed to achieve the highest market share in the industry, Yorkshire Tea also have managed to stand strong in competition.
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The 4P’s Marketing Mix
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Executive Summary This report includes comparison of product, price, place and promotion of Twining English Breakfast Tea and Yorkshire Tea. Both are well established tea brands. Twining English Breakfast Tea have managed to achieve the highest market share in the industry, Yorkshire Tea also have managed to stand strong in competition.
Table of Contents The 4P’s Marketing Mix..................................................................................................................1 INTRODUCTION...........................................................................................................................4 Findings...........................................................................................................................................4 Marketing Mix.............................................................................................................................4 STP of Twining English Breakfast Tea and Yorkshire Tea........................................................7 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION This study includes analysis of marketing mix of two companies which are twining English Breakfast Tea and Yorkshire Tea. Twinning English Breakfast Tea is a product of English Tea and other beverages. The company is based at Andover, Hampshire and was founded in 1706. The other brand is Yorkshire Tea is a black tea blend was founded in 1977 and is produced by Taylors of Harrogate. Along with analysis of marketing mix report also includes STP which means segmentation, targeting and positioning of both of the companies. though both the companies are working under same industry but these strategy differs on the basis of objectives of the company and also on the basis of capabilities of companies to serve needs of particular type of customers which are covered in its target market. Findings Marketing Mix Twining English Breakfast TeaYorkshire Tea ProductTwining English Breakfast Tea is one of the mostpopularbrandsintea.Thisoffers variety of tea products and though company also offers other products like coffee and other beverages but its tea is most popular product of the company (Wu and Li, 2018). This have managed to gain goodwill and till now it is one of the most influential and successfulcompanies.Thisbrandisalso used by countries for their own variety of tea. Yorkshire Tea includes Yorkshire Tea, YorkshireTeaforhardwater, YorkshireGoldandYorkshireTea Decaffeinated in its product portfolio. PriceThis includes price that company charges from its customers in exchange of the tea products. In relation with twining English Inrelationwithpricingpolicyof YorkshireTea.Companyuses competitivepricingpolicyandcost
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Breakfast tea this is a premium tea brand. There are various strategies for the company to price its products and Twining English Breakfast Tea uses value policy and cost for the products of the company. This is high quality product and this is why customers perceive high value of the product this is why Twining English Breakfast Tea prices its products on the basis of value. Along with this company also use cost policy and strategy for the products of the company (AbrilandRodriguez-Cánovas,2016).In thisstrategycompanycalculatescost incurred in its development and then adds marginal benefit for the company. This is really important for one of the most valued companyinitsindustryandstrongin competitive force. pricingstrategy.Thisisbecause perceivedvalueofthisbrandin comparisonwithTwiningEnglish Breakfast Tea (Abril and Rodriguez- Cánovas,2016).Thisisthereason companyusescompetitivepricing strategy. In this company correct data pricing data of its competitors and on the basis of that it prices from some of the competitors price is little higher and from others the price is little less. This allows for a competitive pricing for the company and gives basis to stand in competition. PlacePlace refers to those places and channels where product of the company are available. Incontextofthisdecisionofcompany depends on the type and nature of product and capacity of company to distribute its product. Twining English Breakfast Tea is available at various places these includes channels like stores and Twining stores also avails tea to customers (Bui, Nguyen and Pham, 2017). Along with this presently one ofthemostimportantplacewhichhas become online platform and online channels variousonlineretailwebsitesareselling Though products and pricing policy of the company is different from Twining English Breakfast Tea but in relation with its place the policy of Yorkshire TeaissimilartoTwiningEnglish BreakfastTea(Bui,Nguyenand Pham,2017).Thisensuresthatits products are available at retail outlet and stores which are commonly used bytheproductsandcompanies working in this industry. Other than this the products of the company are also available at online channels and
Twining English Breakfast Tea. Through all these channels company distribute and sell its products to the customers. Main factors which are considered for determination of place for the product is nature of product, type of company, objectives of the company anditsdecisionrelatedtogrowthof company. platforms. PromotionTwiningEnglishBreakfastTeapromote itself from various channels and platforms. These include traditional form of marketing and promotion and also modern medium of marketingandpromotion.Company includesTVadvertisementnewspaper advertisementandradioadvertisement. These are effective medium through which company promote itself to mass people and at the same time there are various benefits of traditionalmarketingandthroughits implementationandinclusioninits promotionalstrategy(Pomering,2017). Alongwiththiscompanyalsoincludes modernchannelslikesocialmediaand digital mediachannels for itspromotion. Therearevariousbenefitsofmodern marketingandpromotionalchannelslike less cost increased visibility of the company andthroughthiscompanycantake advantageofthemodernmarketing channels. Forthepurposeofpromotionthe strategieswhichareusedbythe companyissocialmediamarketing campaign,digitalmediapromotion, You Tube promotionalstrategy and alongwithtraditionalmediumof marketingandadvertisement (Pomering, 2017). There are various benefits of both type of marketing and throughthiscompanyenablesitto takeadvantagesofbothtypeof marketing. Along with these platforms companyalsopromoteitsproducts through sales promotion strategies like discounts.
STP of Twining English Breakfast Tea and Yorkshire Tea Segmentation This refers to policy and strategy of company in which company segment customers on various segments. There are various reasons which require company to segment the customer group this is because all are not interested and in need of the product which company is selling (Camilleri, 2018). Through segmentation of customer group on various basis company can further understand that who are the customers which can be target of the company and which might help company to realize its benefits. Segmentation of customer is done on the following basis these are- Demographics- This includes segmentation of customers by age, income, gender, ethnicity, education status, size and occupation like factors. In this if company segment its customer than on the basis of age children are not its customers. There are some of the ethnicities where coffee is primary choice of people and in relation with gender both the genders use tea, size of customer group for tea is big and occupation is not a significant factor for consideration for Tea industry. Psychographics- This refers to behavioural part of the customers like their personality and emotions. This also includes choices, lifestyle, hobbies etc. while segmentation on this basis company have to consider attitude of customer towards tea and other offerings of the customers. For collecting data regarding this company may need to undertake practices like interview, observation and market trends. Targeting Company after completion of segmentation of customers in its next process target its customers. This means which group which have been segmented will be targeted by company to give its products (Zia and Kumar, 2016). For the decision regarding targeting of the customers company requires to consider factors like difference, money, accessible, different benefits and size of the customer group.
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The company in this target market which is able to provide high return on investment and which market is big in size. Along with capacity of company to supply goods and services to the customers also involved on consideration. Twinning English Breakfast Tea targets a broad market because of its range of offerings. This company offers wide range of products which are tea and other products of various types. Along with tea this company also offers coffee and other products which increase its customers and market that company target. On the other hand Yorkshire Tea targets that market in which people are only interested in tea this is because product range of Yorkshire Tea is limited to various types of Tea. Positioning Company once decide to target particular market next step in the process is to position the product. Company can either position on the basis of value of the product or on the basis of the price of the product(Andaleeb, 2016). High value of the product requires that company charges high price for its products and on the other hand price positioning refers to position the product in market on the basis of its price. Twining English Breakfast Tea Yorkshire Tea SegmentationThisbrandincludes demographicand psychographicsegmentation. This is because product mix of thecompanyalsoincludes product choices other than tea. Thissegmentitsmarketon both the basis as this brand includesvarioustypeof varieties of tea products. TargetingThiscompanyincludesmix targetingforitsmarket (Sestrimska and et.al., 2016). Inthiscompanytarget customer group on the basis of choices and preferences. PositioningValuebasedpositioningas one of the oldest tea brand in the world. Competitive positioning of the product in the market on the basis of price and quality of
the product (Resmini, 2017). This is how Twining English Breakfast and Yorkshire Tea position themselves in the market. CONCLUSION On the basis of discussion which includes comparison of Twining English Breakfast Tea and Yorkshire Tea it can be concluded that both companies have managed to find a place for them in the market. Twining English Breakfast Tea is one of the oldest English tea brand on the other hand Yorkshire Tea provides variety of tea for different type of people to cater their needs. Both the companies have different type of marketing mix but in this place strategy of both the companies are similar this is because both the companies are working under same industry and dealing in the same type of product. RECOMMANDTION This report included 4 P’s and their application in Twinning English Breakfast Tea and Yorkshire Tea. In this context here it is recommended that Twinning English Breakfast Tea is more successful in application of the marketing mix. Though Yorkshire Tea is also successful but their product range is limited to Tea and like Twinning English Breakfast Tea, this company can also increase its product range to increase its market share and customers. With the use of its goodwill and image of oldest tea brand in the world Twinning English Breakfast Tea can also improve its marketing mix and increase its reach to international markets.
REFERENCES Books and Journals Abril, C. and Rodriguez-Cánovas, B., 2016. Marketing mix effects on private labels brand equity.European Journal of Management and Business Economics.25(3). pp.168-175. Andaleeb, S.S., 2016. Market segmentation, targeting, and positioning.Strategic Marketing Management in Asia, pp.179-207. Bui, T.Q., Nguyen, H.V. and Pham, N.T., 2017. The Effects of Selected Marketing Mix ElementsonCustomer-BasedBrandEquity:TheCaseofCoffeeChainsin Vietnam.PRIMA: Practices & Research in Marketing.8(1). Camilleri, M.A., 2018. Market segmentation, targeting and positioning. InTravel marketing, tourism economics and the airline product(pp. 69-83). Springer, Cham. Pomering,A., 2017.Marketingfor sustainability:Extendingtheconceptualisationofthe marketingmixtodrivevalueforindividualsandsocietyatlarge.Australasian Marketing Journal (AMJ).25(2). pp.157-165. Resmini, A., 2017. Prufrock, Malbork, and Yorkshire Tea: a conversation on conversations. InItalian Information Architecture Summit, Bologna, Italy, 24-25 November, 2017. Sestrimska, M.Е and et.al., 2016. Self-Organizing Artificial Neural Network a Kohonen to be Multifactorial Classification of „English Breakfast “Tea, with Different Geographical Origin of Components. Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer loyalty in social commerce.Internet Research. Zia,M.andKumar,N.S.,2016.AThreeDimensionalVerticalDifferentiationModel: Implications for Segmentation, Targeting and Positioning.Targeting and Positioning (April 3, 2016).