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MARK7001 Assignment1 2023 1
MARK7001 Assignment1 2023 1
MARK7001 Assignment1 2023 1
MARK7001
TABLE OF CONTENTS
1 Introduction 4
Objectives
3 Target Marketing 8
4 Positioning 15
6 Action Plan 18
8 Technology Evaluation 22
3
Management
9 Appendices 27
10 References 34
1.INTRODUCTION
toppings. Assad Khan established the company in 2011 with just one location
to include additional UK sites in addition to those in the US, Canada, and the
Middle East. The brand's popularity was a result of its inventive and enjoyable
and provided a range of tastes and toppings. The Taiwanese beverage bubble
tea, also known as boba tea, normally consists of a tea base blended with milk,
fruit, or other tastes and topped with chewy tapioca pearls or other garnishes
(Ablitt, 2018).
clients can explore its menu and buy bubble tea for delivery or pickup at certain
Instagram, where it posts information about new goods, sales, and events.
They can use the app to order and pay. In general, Bubbleology has effectively
built a distinctive brand identity and adapted to the shifting digital landscape to
specific digital marketing objectives, dividing the market into distinct segments,
present study aims to investigate a digital disruptive technology and assess its
5
tactics.
end of 2025
Popular bubble tea company Bubbleology has made a name for itself in several
nations. One realistic big business goal for Bubbleology may be to raise
6
revenues by 30% and market shares by 20% by the end of the year 2025 to
maintain its growth and profitability (Sprout social, 2010). This goal is supported
appendices).
The internet exposure and organic traffic of Bubbleology Company can both be
optimisation, and link building (Ferreira, 2019). Higher organic traffic, increased
brand exposure, and potential conversions will result from this (Bright Edge,
sales purposes (Mckinsey & company, 2019). Bubbleology can evaluate the
has revealed that 49% of the participants in the survey engage in impulsive
3.Target Marketing
The market for Bubbleology can be broken down into subsets defined by a
variety of factors, allowing for more precise targeting of certain customers. Here
is a breakdown, with supporting data, of the various market subsets that may
Appendices ).
healthy food and drink options that nonetheless respect their lifestyle and
dietary preferences, the bubble tea drinks sold by Bubbleology are an excellent
87% of consumers say they think about the healthfulness of their food and drink
choices, and 65% of consumers say they are willing to pay more for food and
drink options that align with their values, according to a survey by the
demonstrates that there is a sizable market for nutritious food and drink
Name: Anirudh
• Age: 24
• Lives in London
• Asian origin
10
and drink.
frequently
beverages
Transactional beverages.
appreciates
Adoption of technology
and purchasing.
• Gadget freak
efficiency.
• Nike
• Starbucks
• Leon
pictures of their
drinks.
• He checks Google
closest Bubbleology
store is open.
• he orders ahead
using the
Bubbleology app.
• He checks the
customer reviews
Bubbleology. • Online
flavour.
• He joins
Bubbleology's loyalty
programme, which
gives frequent
customers discounts
and perks.
• He gives feedback
for Bubbleology,
14
and app.
• He recommends his
roommates to try
great experience
4 Positioning
reasonable price justifies the selection of both price and quality as the axes for
conscious and seeks for cost, organic components in their beverages, quality
is a crucial quality. For young professionals with little discretionary income and
values quality and value equally. Gong Cha is a high-end brand that
(YouGov, 2021). Bubbleology should improve its bubble tea taste while
keeping its price low to move up the perception map. Unique flavours could
help set the brand apart. Bubbleology might also use digital marketing to reach
and engage its target demographic. For instance, Bubbleology may utilise
Instagram and Facebook to promote its goods and encourage user reviews.
These techniques could help Bubbleology rise on the perception map and beat
providing the ideal balance of taste and value, for the young beings who
Detail )
Price: To improve the value proposition for Anirudh, Bubbleology can think
Place: The business can investigate joint ventures with neighbourhood cafes
Based on the 4Ps analysis and detailed research, Bubbleology should use
effective for reaching younger populations because they interact with it more.
Bubbleology can use mobile ads to increase brand recognition and provide
might use influencers to promote its brand and products to a wider audience.
Bubbleology uses digital marketing technologies to reach and engage its target
6. Action Plan
2023:
2023).
3 interesting content that will bring people to your site and keep
as its content, interact with its followers, and increase site traffic
(Navin, 2023).
19
Cawley, 2018).
Social media, mobile, and influencer marketing are part of the Action Plan,
which aims to increase revenue by 30% and market share by 20% by 2025.
Social media marketing can boost brand awareness, website traffic, and
revenues. Mobile ads can entice customers to buy with exclusive deals.
Influencer marketing can boost brand awareness, audience reach, and sales
Bubbleology can evaluate these efforts using website traffic, social media
meeting its aims, the above metrics can be reviewed weekly or monthly. A
dashboard can track the parameters and provide real-time campaign efficacy
data. Bubbleology uses data and technologies to evaluate and improve its
purchasing decision based on UGC than on commercial content (Park & Lee,
and opinions about their drinks on social media. Brand recognition will rise, and
possibly new customers will be drawn in thanks to the UGC (Johnson, 2022).
reach and raise its profile among consumers. For example, Starbucks
increased its Instagram following by 62% after teaming up with singer Selena
Gomez to create a special edition drink (Yu, 2021). To advertise their products
and generate more interest on social media, Bubbleology can team up with
influencers whose audiences and ideals are congruent with those of the
Finally, to attract more customers and boost sales, Bubbleology should launch
interest (Johnson, 2022). Bubbleology can produce advertising that promote their
beverages and entice viewers to visit their locations or place orders online by
7.Technology Evaluation
merge their social media accounts onto a single platform, schedule posts in
advance, analyse their social media performance, and interact with their
using social media platforms to brand a firm, boost sales, and increase website
Thus, social media management software helps firms achieve their marketing
Buffer, SEMrush, Sprout Social, Agorapulse, and Sendible are among the most
2023).
enhance current goods or services (Leonard, 2014). Because social media has
altered how people interact with one another and how businesses interact with
incumbents and altering how people interact with one another and how
potent force that could reshape industries and how people live and work
(Hayes, 2022).
whereby a novel product or service is introduced into the market and initially
cost-effective and easily accessible tools for managing their social media
size and scope, which were deficient in the means to undertake elaborate
(Krotov, 2019).
market and compete, it has not entirely displaced the established players or
In addition, the market for technology aimed at managing social media has
Given all these constraints, it can be posited that social media management
The utilisation of social media websites for marketing purposes has brought
26
the innovation might not have entirely perturbed the established dominant
8. Appendices
increasing need for it. There is a big possibility for Bubbleology to grow its
clientele and boost sales as more people become aware of this beverage
(Technavio, 2022).
new businesses in the bubble tea sector. Bubbleology must raise its market
locations. To ensure the success of these initiatives, the corporation must raise
presence to support the business goal of boosting sales and market share
a strong digital marketing plan that incorporates social media marketing, search
advertising. They should increase the social media platforms Bubbleology may
reach a larger audience and attract more customers by expanding its internet
revenue through connecting with its customers (Zeithaml, Bitner and Gremler,
2017).
Market Segmentation
focusing on young adults aged 18–34. This age group likes to try new foods
professionals, students, and socialising venues since they are more likely to
attract consumers.
for marketing. Bubbleology targets Instagram and Facebook users with this
technique.
and occasion-based purchasing are just a few of the behavioural elements that
People that are willing to try new things and are committed to the Bubbleology
A large selection of bubble teas with unique flavours and premium ingredients
Anirudh might be given more value if Bubbleology added more options for
beverage experience.
To ensure that customers see the value in the amount they pay, Bubbleology's
products.
To improve the value proposition for Anirudh, Bubbleology can think about
Place: Anirudh favours living in cities because they give him easy access to
hip hangouts.
Bubbleology should carefully put its locations in urban areas near commercial
Promotion: Anirudh is an active user on social media sites like Facebook and
Instagram.
Management technology
by scheduling content.
data-driven decisions.
10. References
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https://doi.org/10.1007/s11747-019-00695-1.
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Grand View Research (2020) Bubble Tea Market Size, Share, Growth Report,
2020-2027, www.grandviewresearch.com. Available at:
https://www.grandviewresearch.com/industry-analysis/bubble-tea-market.
Inc, F.M.I. (2023) USA Bubble Tea Market is Projected to Surpass US$ 1,245
million by 2033 end, Growing at a CAGR of 13% During the Forecast Period |
Future Market Insights, Inc., ACCESSWIRE News Room. Available at:
https://www.accesswire.com/748493/USA-Bubble-Tea-Market-is-Projected-
to-Surpass-US-1245-million-by-2033-end-Growing-at-a-CAGR-of-13-During-
the-Forecast-Period-Future-Market-Insights-Inc (Accessed: 6 March 2023).
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