The hypothetical company chosen is a Bubble Tea Shop called “Make by tea.” According to the 4 Ps of marketing, businesses are built on four constituents, which are product, price, place, and promotion (Manthei, 2017). The product bubble tea shop will sell bubble tea or boba, which can be considered a modern trend. Nowadays, a small number of companies offer such products, so this business can become successful regarding the popularity and comparatively low level of competition. An automatic machine tea maker will be making the bubble tea. This equipment can work without an operator, which reduces maintenance costs. Customers will be able to select ingredients for their tea by themselves or order one of the preset types.
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The price for the glass of bubble tear can be compared to the price of a cap of a coffee, which is 4 dollars approximately. Therefore, the price for a glass of boba is from 4 to 5 dollars depending on the ingredients or preset types of tea chosen. This pricing policy will enable bubble tea to compete with other market offers. As the shop is presented with automatic machine tea makers, they can be compared to coffee/tea making machines, which are present on streets and shopping areas. Therefore, the physical locations for numerous Bubble Tea Shops are streets and centers, depending on the popularity of the places chosen. The profit is directly related to the accessibility of automatic machines and the simplicity of their use, so the locations should be well-observed by potential customers. The promotion for the Bubble Tea Shop is the offer to have a free glass of boba after ten paid ones. This advertisement will make the audience more interested in the product and will attract additional attention.
Manthei, L. (2017). The 4 Ps of Marketing: Understanding the Marketing Mix. Emarsys.com. Web.