Question

A Bubble tea business is reaching its maturity and that the health concerns are rising due to sugar level in the local market.

As a business owner what would your recommendation to tackle this problem?

Answer 1

The business owner can tackle this problem by appyling following tactics:

1. Consumer segmentation- The businessmen should identify consumer segments that share common characteristics.

2. Analysis of complementary products and services- The business owner should monitor the performance of other companies’ products, which are complementary to their own.

3. Foreign markets analysis- The business owner should other countries for the idea od product improvement.

4. Environment analysis- After doing environmental analysis, the business owner will get to know about the chances of the survival of a bubble tea and can use it as pracautionary measure.