19 Jun 2022

474

Adding Customer Value

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Academic level: College

Paper type: Essay (Any Type)

Words: 582

Pages: 2

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Added Customer Value 

Tea is cultivated in many countries globally and has become the second most consumed beverage in the world. To increase customer value and improve its bottom line, NationaliTeas should introduce organic green tea to its consumers (Foomany et al., 2019) . Since ancient times, green tea has been considered for its medicinal purposes and as a healthful beverage. Due to the adverse effects of processed foods, consumers have started looking for healthier products (Kochman et al., 2020) . NationaliTeas can take advantage of this market by introducing organic green tea because of its benefits to human health (Kochman et al., 2020) . Green tea is beneficial to human health because it helps in digestion, regulates blood sugar levels, has calming effects, helps to lose bodyweight., and in general prolong life (Kochman et al., 2020) . Thus, green tea is an innovative product that the company can use to penetrate international markets, especially the European market. 

NationaliTeas should adopt branding and niche marketing as part of their strategy to increase customer value. Instead of the firm's advertising strategy focusing on the entire market, it should focus exclusively on a niche market or demographic customers who would benefit from its offerings (Foomany et al., 2019) . The tea industry is oversaturated with competitors and other firms selling tea, and by differentiating its brand, NationaliTeas will add value to its customers. Branding and value addition go hand in hand (Foomany et al., 2019) . By understanding their customers' needs, NationaliTeas will provide unique products and resonate more deeply with a diverse set of consumers (Kochman et al., 2020) . Thus, NationaliTeas will build more robust and lasting relationships with its ideal audience and reach its potential. 

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Added Business Value 

The more specialized products NationaliTeas offers, the less competition the organization will experience, increasing its market share. Targeting a narrower customer base will enable the firm to focus its production and marketing efforts to fulfill specific consumer needs (Foomany et al., 2019) . Taking advantage of these initiatives will result in enhanced consumer relationships, increased visibility, brand loyalty, and increased profits. 

Potential Resources 

For organic tea production, NationaliTeas must partner with tea farmers to ensure that they follow environmentally-friendly agricultural practices. NationaliTeas can opt for matcha Japanese green tea, which is rich in antioxidants (Kochman et al., 2020) . This type of tea is cultivated under natural bamboo shade, which allows it to develop bast amounts of bioactive compounds which reduce the risk of circulatory system diseases and cancers (Kochman et al., 2020) . NationaliTeas will partner with approximately 5,000 farmers and employ 30 employees to ensure that tea is grown and produced organically. 

For branding and niche marketing, NationaliTeas must develop a niche marketing strategy and digital marketing. Firstly, the company will conduct a digital marketing strategy (Boienko & Susidenko, 2019) . This involves creating buyer personas, setting objectives, and conducting an audit of its current digital marketing strategies. 

Secondly, NationaliTeas will conduct a niche marketing strategy to maximize its impact. Firstly, NationaliTeas must research its target market and perform market segmentation. This will require approximately 1000 employees in ten different countries globally at the cost of $5,000,000. This will include hiring 3000 bicycle messengers in different countries to talk, drink, and spread the word about NationaliTeas organic green tea. The bicycle messengers will engage with fans. Other initiatives include sponsoring events like bike races and tea parties to find its niche market. 

Monitoring and Evaluation 

NationaliTeas will establish its key performance (KPIs) indicators that will make it easy to track this initiative's success. These metrics will allow the firm to audit its performance based on its set objectives. KPIs will also allow NationaliTeas to identify the weaknesses of its strategy. The following KPIs will be tracked: 

Revenue metrics such as return on investment cost per acquisition and cost-benefit analysis (Boienko & Susidenko, 2019)

Feedback from consumers from surveys and emails (Boienko & Susidenko, 2019)

Conversion metrics such as cost per conversion and click-through rates (Boienko & Susidenko, 2019)

References 

Boienko, O., & Susidenko, О. (2019). Market niche as a method of brand promotion. Baltic Journal of Economic Studies , 5 (1), 15. https://doi.org/10.30525/2256-0742/2019-5-1-15-20 

Foomany, A., Mirabi, V., Bazaee, G., & Amiran, H. (2019). Developing export marketing strategy model of tea to target markets. International Journal of Agricultural Management and Development , 9 (9), 177-190. 

Kochman, J., Jakubczyk, K., Antoniewicz, J., Mruk, H., & Janda, K. (2020). Health benefits and chemical composition of matcha green tea: A review. Molecules , 26 (1), 85. https://doi.org/10.3390/molecules26010085 

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StudyBounty. (2023, September 14). Adding Customer Value.
https://studybounty.com/adding-customer-value-essay

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