Analysis of Alternative Marketing Strategies for Ceylon Tea
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Date
2017
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Uva Wellassa University of Sri Lanka
Abstract
Tea is considered to be the one of most important agribusiness in the country as a one of highest net foreign exchange earners. Sri Lankan tea industry is in very crucial situation due to some problems in present primary marketing systems via auction system, private sales, direct sales and forward contracts. This study develops with the aim of formulation of alternative strategies to improve primary marketing system for Ceylon tea. 70 manufactures were taken for the study. Simple random sampling technique was used to select number of manufactures among 24 plantation companies. That research framework has three major phase which includes the input phase, comparison and correspondence phase and decision making phase. As the first phase SWOT analysis has been applied to examine Strength, Weaknesses, Opportunities and threats existing on the primary marketing strategies that they are already using. To overcome the research objectives identified SWOT factors were calculated using IFE and EFE matrixes and during input phase all the required information's were evaluated. In comparison phase, based on external factors and internal factors, some evaluations serious were adjusted on assumptions by using SWOT matrix and 15 Strategies were formulated based on marketing channels. Finally during that decision making phase Quantitative Strategic Planning Matrix (QSPM) was evaluated and identified 15 strategies were prioritized. Overall score for IFE is 3.57 and for EFE are 3.52. Major strategies that are prioritized based on QSPM are to promote direct private sales and export directly from production sector.
Keywords: Primary marketing, Strategies, IFE and EFE matrix, SWOT, QSPM
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Tea Technology and Value Addition Degree Programme ( TEA)