They started business in 2008 and now, they have several branches across the world. TAG is acronym of the wellness group. In Twig's trademark, there is some number as 1837. It is not mean established year, its mean first tea trade year in Singapore.
The name is That Bouquet who establishes TAG Company. He opened first outlet in Singapore on September 2007. It was strategic decision because Singapore is located capitals of Asia. TAG is influenced by Chinese culture and British colonization.Summary of basic business - Current Marketing activities The marketing way is nobility strategy.
Basically, their tea prices are more expensive than other shop and the dining area adopt continental-style dining atmosphere. TAG aims to bring tea drinking to a different level. TAG' marketing goal is people think TAG like a luxury such as LB, Carrier, Giorgio Airman. Bouquet said on interview (Twig's ritzy Tea-Forbes) "Here we have Louis Button, Carrier, Giorgio Airman, Harry Winston, Dior-and you have TAG Tea. " ©aha(http://homeowners. Com/global/ 2009/1214/fife-Singapore-murrain-bouquet-tag-ritzy-tea.
HTML) Target customersTarget customer of TAG is middle class to upper class and people who want to take ritzy Tea. Because The tea quality is high, price also high. SOOT Analysts Strength People's good recognition Good quality tea ingredient Head office is located in Singapore High regular customer(there is many tea lover) Weakness High price of Tea New foreign market, limited knowledge Lack of brand awareness in new market Few numbers of chains Opportunity Few competitors Preference from upper middle class people Expand branch to I-J (UK has strong tea culture) Threat Conflict about trademark right Other competitors into luxury tea market 3 Environmental DoctorsLegal - TAG has legal problem on trade mark. 1932k0*l AHA*III tag 1837 Rich g-¤-¤ala ©go¦.
(http://wintertime's. Com/the-big-story/Asia-report/Hong- Kong/story/storm- b Reese-over-tag-tea- logo- h k-court-20130728) Technology - Social- _ Marketing strategy Explain above. Marketing mix Price - Price is expensive because of high quality tea and brand's positioning in luxury market. Product - TAG Tea uses a premium pricing strategy due to the high quality of products stocked and the brand's positioning in the luxury market (Marketing Teacher, 2010).
The price of each tea is dependent on the type and amount purchased.Place - TAG Tea is sold through their own stores, as well as selected hotels and restaurants (e. G. Stillwell), corporate functions and in first class and business class of Singapore Airlines (Singapore Airlines, 2009). Apart from their three stores in Singapore, TAG Tea also operates in Japan (1 teahouse), the UK (1 teashop) and USA (1 teashop) (TAG Tea, 2010). Promotion - TAG Tea relies predominantly on word of mouth, generated by consumers who have sampled their products through other distribution channels (e.
G. When flying Singapore Airlines). They also use sales promotions in store, such as free samples, to reward purchases.
