Researching the market in Business

 Market Research in corporate Essay

History

Bubble tea is originated in tea outlets in Taiwan during the 1980s, which consist of pearl milk tea and other similar tea and juice beverages. The tea plus the flavoring was shaken strenuously to made frothy pockets in the drink. Bubble tea begins it is international recognition spreading via Taiwan to other Asian countries before going to North America with the Asian community in Vancouver and the Western Coast. At this point bubble tea can be found across the country.

The competition of bubble tea is very hard in Singapore due to the easy entry while starting capital, labor and equipment expense are low, specialized knowledge is also definitely not required. Right now there we can discover bubble tea shops just about everywhere from departmental stores to real estate estates. In addition to the famous bubble tea brandings like Sweet talk and KOI, you may still find many other tiny ones, device presence of so many bubble tea brandings and selections, none of which is large enough to rule the industry.

With the higher level of competition, more ideas to improve organization is needed from advertising, promotions to additional services. As of today, one of the providers provided by a few bubble tea companies will be deliveries. And according to our background research, several of these delivery providers are made with requirements of minimum purchase or perhaps within their variety of service. Consequently , our consumer is now thinking about the possibility of enhancing the assistance in targeting households. This will be labeled under existing products; new markets under the Strategic Structure For Researching the market In Business Growth as display in number 1 . one particular

Figure 1 . 1 Strategic Framework Pertaining to Market Research Running a business Expansion

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Aims and Objectives

The general aim of the research is 'to measure the success of delivering bubble teas to household'.

The three specific objectives contain;

1) To measure how popular bubble tea are necessary in household settings 2) To identify behaviour...

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