BUYER BEHAVIOUR AND MARKET RESEARCH

Buyer Behaviour and Market Research



Buyer Behaviour and Market Research

Introduction

The main purpose of this paper is to make an analysis on one of the FMCG products of a UK based company. The company which has been selected is Unilever and the chosen product of Unilever selected for this paper is Lipton Tea. The paper is an analysis of the market size and the growth of Lipton tea. The paper also makes an analysis on the competitor analysis on Lipton tea. The paper also makes an analysis on the different types of market research techniques which have been used for the purpose of conducting this research study (Arrow, 2000, p. 40).

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Company Overview

Unilever is considered to be a consumer goods selling company. The company is a multinational company which is engaged in selling the different products like cleaning agents, foods, personal care products and beverages. The company is listed in two indexes i.e. it is consisted of Unilever NY in Rotterdam and Unilever PLC in London. The company is based on United Kingdom. The company owns more than 400 brands from which it earns a revenue of more than €1 billion.

Product Overview

Lipton is considered to be one of the most refreshing brands. The product is in a huge demand all over the world. The main feature that makes the product a most demanding product across the globe is its high quality. The high quality is assured which ultimately increases the demand of the product and has made the product the world's largest selling tea brand. The ingredients of the product have been extracted from the gardens of Kenya that makes the product a perfect one. The brand of Lipton tea also incorporates different brands in it including the Lipton yellow label; Lipton iced tea and Lipton pyramid tea. Lipton tea has come into origin at the end of 19th century, and the creator of Lipton was Sir Thomas Lipton. The product has originated with a slogan of “direct from the tea gardens to the tea pot”. The main rationale behind the creation of the Lipton tea was to develop a tea which should e popular and approachable for anyone around the globe along with the high quality and reasonable price. Unilever which is a consumer goods company has acquired the business of Lipton tea (Kerin, 2008, p. 35).

Market Size and Growth

The tea industry is growing with a considerable rate, and 2005 was the era when the tea industry has reached to a category of $1.7 billion. As per the expectations, there are many chances that the tea industry along with the globe with reach to a high growth point in the coming years. As per the market analysts, it is expected that the tea industry will reach to its boom and in near future it is not expected to reach to the saturation level. There can be two major factors which can be attributed to the tea growth of the tea industry:

1) Increased need of ...