Analysis of Marketing Strategies of Ispahani Tea Limited.
Moon, Amena Khatun
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Ispahani Tea Limited is a well-known company in Bangladesh. Since 1820 they are doing business in Bangladesh. They are very well-known for some of their famous products. “Ispahani Mirzapore Tea” is a known brand across the country. Now they are facing a huge challenge in the market. A survey has been conducted to know the present market scenario of Ispahani Tea in Bangladesh and their marketing strategies and find out the causes behind Ispahani’s loss of market share. From the survey, we have found different forms of information of Tea market scenario what need to be analyzed. It’s also been found how many Tea Stalls and hotels and number of families are using the branded Tea, what kind of tea they are using, amount of their daily consumption and also their sale, along with the source of buying Tea (Leaf) correspondingly. This study also helped to find out Tea Stalls, hotels and householders brand awareness and which Tea brand name comes first to their mind when they visit the market for buying tea leaf and Ispahani held Top position on this survey. Brand loyalty percentage of Ispahani Tea among competitive brands is high. Due to the higher price, Ispahani lost their sale in some tea stall and hotels even though Ispahani offered lower profit to the tea stall owner and hotels compared to competitors. Ispahani has the biggest distribution network in Bangladesh with huge human resources, they have depot throughout the country along with the divisional office. They distribute their product on the market by their own salesperson. A very limited number of Tea Stalls and wholesalers claimed that they are unsatisfied with Ispahani because of unavailability and it forces them to use another brand. Most of the superstores charges to the branded company for shelf branding and display program. And Ispahani does not pay them, and that is why the superstores keep Ispahani product on the shelf unorganized. On the other hand, Seylon and Taaza (competitors of Ispahani tea) are kept in a convenient shelf precisely because they pay extra charges for the shelf. This report suggests a few reasons for the unavailability of this brand as a recommendation to the company. In Bangladesh Tea Stall market and hotel business, use Seylon in Dhaka city and outside of Dhaka city they compete with Ispahani most ferociously. A competitively less price and more frequently TP offered than Ispahani makes Seylon famous to them. Besides Taaza (a product of Unilever Bangladesh) competes with Ispahani in the family consumers. Tea stall and hotels are concerned about the price rather than quality. They look for a low price product. But in household consumers prefer quality rather than price. For increasing Tea sales volume in the Tea market, Ispahani should offer some TP and CP offer according to the market demand though very recently it has given CP offer for consumer (4 tk discount for 200 gram and 10 tk discount for 400 gram in Ispahani best leaf and lucky coupon winner will get mug and Bali Indonesia tour. Besides, it has been found that their trade marketing department do some activations on special occasions on school or universities. They serve free tea to the people. They always try to capture the household consumer by their branding activities. According to Tea Stall and superstores and wholesale markets observation and findings, this report may be helpful to face the challenges of competitors by filling the gap what is needed by the Tea Stalls, hotels and tea lovers.
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