analyzing TTB Herbal Tea company

analyzing TTB Herbal Tea company

Introduction

In recent years, there is growing popularity in herbal tea competition by most leading players and companies. TTB (Tom, Teddy, and Brenda) Herbal Tea company is a small firm that is located in the outcasts of Chicago. The company is a fast-growing company whose growth has been accelerated through an expression of interest by family and friends, who have helped in marketing the products. For any entrepreneur, establishing a business and watching it grow is significant attainment. This essay focuses on analyzing TTB Herbal Tea company by discussing is ownership and company structure, describing its product, outlining its mission statement and marketing goals, and also discussing who their potential customers might be.

Information About Ownership And Company Structure

The company’s ownership is based upon the agreement by partners. In the company, there are three partners, including; Teddy, Tom, and Brenda. Brenda owns 50 percent of the company’s stake; tom owns 30 percent of the stake, and teddy owns a 20 percent stake. In the company, there are 90 employees. The company has manufacturing, supply chain, finance, marketing, and sales department. An outside audit agency conducts auditing.

A Description Of Product

The tea made by the brand is from aromatic herbs that are sourced from organically grown farms. The company sells a wide range of tea. The unique selling proposition of the brand lies in the company’s backward and vertical integration of its supply chain with tea growers, and herb producers that have their companies certified organically. Each product undergoes a maximum quality check. Also, the company has a strong establishment of an association with various suppliers, and its significant focus is the good quality of raw materials so that the product always has the same taste whenever ordered by the customers, anywhere.
A Mission Statement

The company’s mission statement is the attainment of the brand leader in the herbal tea market and the promotion of the health benefit and lifestyle of herbal tea. The firm aims to achieve a 40 percent market share in selling herbal tea.
Marketing Goals

The following are the marketing goals of the company;

The company aims at increasing its sales by 30 percent in the next four years.

To reach and increase the customer segment and to increase customer base.

To improve the relationship with customers through ensuring there lacks any customer complaints.

To have increased customer satisfaction to 100 percent.

To capture customer’s feedback so that they can improve customer satisfaction and retain them.

Typical Customer

The product discussed here is an herbal tea, whose main target is the working professionals above 35 years of age; this group pf individuals are those that prefer maintaining a healthy lifestyle. However, the product can also be used by younger professionals of between 25 to 30 years due to the growing awareness of having a balanced lifestyle in the current generation. The company focuses on engaging with the customers better through digital marketing and the maximum utilization of social media.

Conclusion

TTB Herbal Tea company has mastered the ideas of the contributing factors of increased sales strategies, including cost structure strategy, application of valuable growth, and how to generate revenue. The brand encompasses all the trends in the market, including attributes, competitive scenarios, and industry structure. Also, TTB is well equipped with strategies to solve problems and how to run a business effectively. Based on the factors surrounding TTB Herbal Tea, the firm has a high potential to grow in market size and to enhance health benefits that are driven by consumption of tea in its local and possibly national environment.