Quick market research question?
I’ve been spending a lot of time lately researching a new project for our Southern Boy Teas. My question is: If we came up with a package of six unique teabags that could be slipped into a 20oz bottle of water to make six bottles of sun/refrigerator tea or steeped three at a time to make 2-quarts, or all six at once to make a full gallon of iced tea. If the tea was 100% Organic and Fair Trade in a resealable pouch and came in crazy fun flavors like we have (Cotton Candy, Rainbow Sherbet, Neapolitan Ice Cream, etc.), what is the most you would consider paying for it?
Thanks for your time and feedback.
Obviously, the cheaper the better :P
For me, I would pay a maximum of $15-20 (depending on the flavour of the tea, and the cost of shipping) – I figured this out using improper math and bad rounding, thinking each tea bag would cost about $3-4.
For one gallon of tea? No more than $6 probably.
Well, your Southern Boy Tea currently sells for $2.99 per pouch, and each pouch makes 2 quarts. So, if you were to sell packs of your same tea in quantities that make 4 quarts, I think about double the price (plus a little for the extra packaging and for being Fair Trade) sounds fair. So maybe about $8-10?
Personally, if this new type of tea cost significantly more per unit than the teas you already have, I would just continue to buy what you already have. Because I am not the kind of person who is on the go all the time, I can afford to take the extra few minutes with the less convenient packaging if it saves me a few bucks.
That being said, I am willing to pay a bit more for Fair Trade and for exclusive flavors.
Hope that helps! :)
Given that I am in the Market Research sector and a HUGE fan of 52Teas I had to weigh in on this topic. Given the caliber of tea and knowing what I can expect from Frank, my maximum price point would be $25. With this said, if the blend was tempting enough I wouldn’t be adverse to higher price point (I tend to have a rather free/open budget when it comes to tea).
If you are considering a wish list or recommendations, I would ideally like to see some green or white tea bases in the mix as I tend to prefer those over ice rather than a black base.