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Red Bull Black Tea in India, Research Paper Example

Pages: 1

Words: 815

Research Paper

Introduction

It is a traditional in India, or rather most parts of the world to take black tea for relaxation, more especially after a days’ tough schedule. For this reason, companies have identified a loop into the business, thus manufacturing different forms of beverages, all named tea. Different brands, with different flavors, colors, tastes, and different colors, all going to different costs have emerged into the Indian market. This paper discusses the red Bull black tea, and its entry into India market. Competition analysis

As much as the red Bull black tea company tries to spend millions of dollars on advertisement to convince young people that it is the energy drink to go for, it still faces strong competition. Bull black tea faces competition from other brands as the Tata Tea and the plebeian tea among others. Green tea is too a threat to the red bull emergence into the market. The competition placed in a manner that competitors have popular products that came into the market early enough and already have royal customers. For unknown reasons, consumers go everywhere discouraging people from consuming Bull black tea, as they say it is not good for the health. The competitors have gone further to reducing the prices of their products. They argue that both products consist of the same ingredients, and that they see no reason for Bull black tea to be highly priced. However, consumers forget that red bull has flavor, is carbonated and canned, compared to the other products, it is Companies like Tata Tea, who are the oldest makers of traditional black tea, are seeing off a different churn in the tealeaves. They want to capture the changed global beverage market. They have tried this by getting the Indian concoction, and mixed it with the Chinese one. By tradition, this mixture known to tweak the best brews ever. The Tata Tea wants use ingredients rich in antioxidants as polyphenols to make more healthy tea products. R K Krishna Kumar, who is the vice- chairperson of Tata Tea, says it loud that they are looking at value-added products. Through all this, company is able to stand out in the competitive beverage market.

The target market for all beverage manufacturers is the students and the sport persons, among others. This is because the students are always in the search for a new choice, and in the process, they could become loyal to one of the products. Companies have tried all strategies including unique and attractive packaging, considerably lower prices and advertisements. Other companies have employed promotional strategies as the “buy two and get one free”. With this, a consumer is most likely to do impulse buying, just to obtain the extra free sample. Research questions / hypotheses

Research question 1 (value): What product benefits will lead the target market to perceive that the product provides greater value than competing product offerings? Hypothesis 1: Ho : The product (Red bull black tea) benefits DO NOT provide a greater value than competing product offerings

Vs H1: The product (Red bull black tea) benefits provide a greater value than competing product offerings

Hypothesis 2: Ho : The product (Red bull black tea) benefits DO NOT have a difference in value with the competing product

Vs H1: The product (Red bull black tea) benefits have a difference in value with the competing product

Information needed:

The sample frame is the complete list of all the members of the population wishes to study. This study would best suite students ranging from teenagers to those in their late twenties. A questionnaire constructed to seek information from respondents to know their age group, (teen or twenties). Further, the respondents will state their level of education (secondary school, college or university). They will also state their gender (male of female). Further information regarding their views regarding the Red bull black tea also investigated with the researcher taking a keen interest on the responses regarding its value as compared to the other competing products.

Sample size

The sample size will vary depending on the size of the population of study, and the level of precision required. The length of time allocated for data collection, and the method of data collection would contribute a lot in determining the sample size. Allocation of less time would mean reaching a smaller sample while adequate time would allow reaching for a greater sample. Again, the use of interviews for data collection would mean reaching fewer respondents as compared to the use of questionnaires.

Sources of potential error

Researches are bound to errors, and in most cases an error of +.05 or -.05 is allowed.  Errors start right from the time of collecting data to the time of analysis, interpretation and in report writing. Errors thus divided as:

1) Sampling bias and sampling imprecision errors

2) Measurement bias and measurement impression errors

3) Estimation bias and estimation impression errors

4) Bias in hypothesis testing and impression in hypothesis testing errors

5) Reporting bias and reporting imprecision errors

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