Empirical Study on Economic Benefits of Promoting Own Brand in the Local Tea Industry in Sri Lanka
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Date
2010
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Uva Wellassa University of Sri Lanka
Abstract
The purpose of this study was to explore the opportunities of promoting own brand in the local tea industry. The findings of this study will help the parties who want to promote their own brands in the local tea industry. Primary data were collected using direct interview method while annual reports and other publications were used to collect secondary data. The study revealed that the promoting own brand is not effective compared to the local market portion with the export volume of the tea industry. According to the study, exporting tea or following the other promotional methods are more profitable than promoting own brand in the local market. Further, it reveals that, most of the companies mainly based on the export market rather than local market. Furthermore, they mainly concentrate in their exporting capacity and they are reluctant to spend financial resources on creating own brand to the local market. The main constrain for promoting own brand was identified as lack of money. Giant companies spend huge monies for the promotional campaign to increase their share in the local market. When newly entered firms are not in a position to face that much of competition they would be unable to sustain in the local tea market.
Keywords: Branding, Plantation Companies, Tea
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Keywords
Tea Industrials, Tea Technology, Business Management