Thea Flos - Mary Doan

Thea Flos

Vietnamese Tea Company Created by: Mary Doan Presented: June 2021 Marketing II Ms. Sullivan, Everett High School Copyright, 2021

Table of Contents 1… Cover Page 2… Table of Contents 3… Executive Summary 4… Industry Overview 5… Business Description 6… Branding 8… Unique Selling Propositions 9… SWOT and Competitive Analysis 10… Target Market 11… Marketing Goals 12… Marketing Mix 13… Brand Positioning 14… Example Advertisements 15… References

Executive Summary Mission Thea Flos wants to provide healthy, delicious, and beautiful teas without artificial preservatives, while also introducing more people to Vietnamese tea culture, since it’s less known compared to China, India, and Britain.

Company and Management Thea Flos sells tea blends that contain Vietnamese tea leaves, flowers, and other natural flavors. Its headquarters is in Quincy Massachusetts and incorporated in New England. The company is owned by Mary Doan.

Services At Thea Flos, we offer up to ten types of Vietnamese teas and currently have 4 types of flower resins to choose from. We’re planning on expanding our variety if this business continues to be successful.

Market Tea has had a long history of popularity worldwide, and the present is no different. According to Allied Market Research, the global tea market size was valued at $55,144 million in 2019, and is projected to reach $68,950 million by 2027, registering a CAGR of 6.6% from 2020 to 2027.

Black tea and green tea are the most popular, due to its health benefits.

Competitive Edge Since Thea Flos specializes in teas that originated in Vietnam, we have a selection that cannot be found anywhere else. For example, we have Snow Shan tea, a type of tea plant that can grow up to two meters and only inhabits remote provinces of far North Vietnam, especially in Ha Giang. All the tea leaves, flowers, and herbs were grown organically in family-owned farms, meaning there’s no use of fertilizer or pesticide.

Farmers and resin makers are some of our most important partners so we make sure they’re insured.

Start-up Financial Requirements We are seeking an operating line of $120,000 to finance our first-year growth.

Industry Overview Tea Industry Tea has had a long history of popularity worldwide, and the present is no different. According to Allied Market Research, the global tea market size was valued at $55,144 million in 2019, and is projected to reach $68,950 million by 2027, registering a CAGR of 6.6% from 2020 to 2027.

Black tea and green tea are the most popular, due to its health benefits.

The main issue, however, is that there’s an incredibly high demand and low supply for tea.

According to Global Edge, prices of wholesale tea leaves have jumped 50% since March 2020.

The bottled tea (often sold in the United States) has had a price increase of 9.6%. And, packaged tea, or tea bags, have risen 1.7% in prices.

Our Position in the Industry Thea Flos currently has an online site where customers can order delivery, but it also has a store in Quincy, Massachusetts. Quincy has the highest concentration of Asian Americans of any municipality in Massachusetts, according to the Boston Globe. Although a majority of Asians living there are Chinese, there’s a sizable Vietnamese population.

Competition There’s no other tea shop in Quincy unless you count beverage chains like Kung Fu Tea. What Makes Thea Flos Unique Thea Flos sells tea that are exclusive to Vietnam in addition to other teas of Asian origin. Flower resins are also rewards for customers who pay $30 each.

Business Description Thea Flos sells tea blends that contain Vietnamese tea leaves, flowers, and other natural flavors. Our light teas with floral scents are known to have major health benefits such as blood sugar regulation, improved skin care, and detoxification.

Mission Statement: want to introduce more people to Vietnamese tea culture, since it’s less known compared to China, India, and Britain.

Goals and Objectives: ● Start off as an online business since deliveries can be done faster that way. ● Help tea farmers earn an income for providing leaves for the blends. ● Begin opening up a small shop where blends can be displayed and customers can taste a sample of the teas.

Business Philosophy: We believe in creating high quality teas and treating both customers and farmers with the utmost respect.

Industry: Tea Strengths and Skills: ● Packaging is reusable and can be used in multiple ways. ● Connected with small family owned farms from the countryside. with strict regulation. ● Has information about the flowers and tea leaves inside the packaging ● The dried flowers can also be used for other purposes like decoration or color dye.

Target Market: It can be for anyone that likes tea. But because of the packaging, it’ll be targeted towards young women and girls.

Closing Statement: Are you always short on money from buying overpriced drinks from beverage chains? Do you have any health issues that prevent you from eating or drinking certain things? Or are you worried about? Thea Flos

Branding Slogan: From the tea garden to your cup Logo

: Color Scheme:

Merch Examples: SIZES

Sample Tins These tins are small and rectangular. You can make at least 5 cups of tea with this size of the blend.

5oz Tins These tina are cylinders and have a circle lid. You can at least make 12 cups of tea with this size of blend.

8oz Tins These tins are more square and bulky. You can at least make 20 cups of tea with this size of blend.

Flavors

Lotus Tea

Jasmine Tea

Green Tea

Unique Selling Proposition Since Thea Flos specializes in teas that originated in Vietnam, we have a selection that cannot be found anywhere else. For example, we have Snow Shan tea, a type of tea plant that can grow up to two meters and only inhabits remote provinces of far North Vietnam, especially in Ha Giang. All the tea leaves, flowers, and herbs were grown organically in family-owned farms, meaning there’s no use of fertilizer or pesticide.

SWOT Analysis

Strengths ● ● ●

Weaknesses

Tea leaves, flowers, and herbs are grown exclusively from family owned farms.

Has a selection of tea that are rarely sold elsewhere.

Close relationship with tea leaf suppliers and florists.

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Vietnamese tea scene is relatively unknown in the United States.

Production might take longer than usual.

People preferring to buy from more popular companies

Opportunities ● ●

Threats

Growing popularity of tea and small businesses.

Sustainable living campaigns

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Storms potentially ruining the crops.

Changing public reputation Price fluctuations

Competitive Analysis

Lipton ● ● ● ● ● ●

United States Corporation Sells tea Direct competitor “Lipton is the No.1 tea band in the world” Worth 9.1 billion dollars

Folgers ● ● ● ● ● ●

United States Corporation Sells coffee Indirect competitor “"The Best Part of Wakin' Up is Folgers in Your Cup" Worth 2 billion dollars

Alaya Tea ● ● ● ● ●

United States Online business Sells tea Direct competitor “Loose Tea Leaf”

Target Market ●

Age ○

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Millennials and Gen Z

Gender ○ Women Marital Status ○ Pretty sure single, dating, and married women can enjoy the drinks.

Family ○ It can vary since both a job and family, large or small, can stress someone out.

Location ○ We have a small shop in Quincy, Massachusetts. However, we are currently selling regionally.

Education ○ It doesn’t really matter that much since it’s a beverage product, but there’ll be details about the tea blends that might need higher than average knowledge about writing.

Income ○ Our tea can be really cheap depending on the blend, so all incones can afford them. However, Snow Shan tea is more expensive due to its rarity so it can only be bought occasionally.

Occupation ○ There’s no specific job that’s being targeted since anyone can enjoy a cup of tea.

Religion ○ Nah, I don’t think there’s a religion that forbids tea drinking. All of our products are plant-based so it can be considered kosher and halal.

Language ○ Since it’s being sold regionally, it’s okay to at least have a basic understanding in English.

Lifestyle ○ They’re most likely going to have an active lifestyle, focusing on their health and condition. Nature lovers would also like this brand.

Motivation ○ Trying to find a healthier lifestyle.

Hobbies ○ What kind of hobbies might your target customer have?

Size ○ It’s probably going to be more niche.

Marketing Goals Goal #1: Have social media influencers review the product ● Trying to sell our products alone can be difficult since it can get lost in millions and millions of users. By asking someone else who’s more connected, we can put our name out there. ● We can DM influencers who’re known for food and beverage content and if they accept, we can send them codes for sales and samples of our tea to try.

Goal #2: Gain more followers on our own TikTok account. ● Gen Z is one of the target audiences we’re trying to sell our products for.

Because of how the algorithm works, TikTok has a better chance of making videos go viral. Even if it gives us a small following, it can almost guarantee tea lovers seeing our posts. ● We’ll simply create our account and try to make it as aesthetically pleasing as possible, since that is what most girls and women are interested in nowadays. For example:

Goal #3: Focus on customer satisfaction ● Since taste can be subjective for different people, it’s important to have feedback so that we can improve our products or expand what kind of products we sell. ● We’ll open up reviews on our website so customers can tell us what’s good or bad about our products as well as suggestions in the future. We’ll also try to make the website mobile friendly so that anyone can send a review any time.

Marketing Mix PRODUCT: At Thea Flos, we offer : ● Lotus tea (+dried lotus flower) ● Jasmine tea (+ a bag of dried jasmine flowers) ● Chrysanthemum tea (+dried chrysanthemum) ● Aglaia tea (+ a bag of dried aglaia flowers) ● Hibiscus tea (+dried hibiscus) ● Golden Monkey tea ● Snow Shan tea For every $30 dollars you spend in a month, you’ll have a chance to get a flower resin each as a reward.

PRICE: We set our prices based on the needs of family-owned tea suppliers and florists in Vietnam, as well as resin makers, deliverers, and packagers. We have a customer loyalty program to reward long-time customers with percentages off their purchases and free samples of upcoming products. We also partner with food reviewers, cafes, and restaurants that’ll serve our tea.

PLACE: Thea Flos would be the only tea store in Quincy unless you count boba shops like Kung Fu Tea. However, having an online business would be harder to get recognized in due to how easier it is to set up one and the vast amount of businesses competing for customers of all demographics.

PROMOTION: ● Social media marketing ● Content marketing

Brand Positioning For customers who want all-natural teas that are ethically sourced, Thea Flos is a tea company that offers a variety of Vietnamese floral teas so customers can have a delicious yet guilt free way to energize themselves, because Thea Flos prioritizes the quality of our products and everyone’s satisfaction.

Example Advertisements

References Nanos, J. (2020, September 16). A surging Asian American population is shaping Quincy’s future. BostonGlobe.Com. https://www.google.com/amp/s/www.bostonglobe.com/2020/09/16/business/ surging-asian-american-population-is-shaping-quincys-future/%3foutputType=am p skyoss.net. (n.d.). What make Vietnam Shan snow old tea special? Viet Co Tra. Retrieved May 20, 2021, from http://vietcotra.net/tea-benefits/what-makes-vietnam-shan-snow-old-tea-special -c7a177.html 3 Most Popular Tea Varieties in Vietnam. (n.d.). Vietnam Online. Retrieved May 22, 2021, from https://www.vietnamonline.com/best-of-vietnam/3-most-popular-tea-varieties-in -vietnam.html