Harvard Case - Redesigning Tea Auctions in India
"Redesigning Tea Auctions in India" Harvard business case study is written by B. Mahadevan, Sreelata Jonnalagedda. It deals with the challenges in the field of Marketing. The case study is 17 page(s) long and it was first published on : Jun 19, 2021
At Fern Fort University, we recommend a multi-pronged approach to redesigning tea auctions in India, focusing on leveraging technology, enhancing transparency, and fostering sustainable practices. This strategy aims to modernize the auction process, cater to evolving consumer preferences, and ensure the long-term viability of the Indian tea industry.
2. Background
The case study focuses on the traditional tea auction system in India, which has been facing challenges due to declining tea prices, increasing competition, and a lack of transparency. The Tea Board of India (TBoI) is seeking ways to revitalize the industry and attract new buyers, particularly from emerging markets. The current system relies heavily on physical auctions, which are time-consuming, inefficient, and susceptible to manipulation.
The main protagonists are the TBoI, tea producers, tea brokers, and tea buyers. The TBoI is responsible for regulating the tea industry and promoting its growth. Tea producers rely on the auctions to sell their produce and earn revenue. Tea brokers facilitate the auction process and connect producers with buyers. Tea buyers, including domestic and international companies, purchase tea for processing and distribution.
3. Analysis of the Case Study
We can analyze the case study using the following frameworks:
a) SWOT Analysis:
- Strengths: India's strong tea production, established infrastructure, and global reputation for quality tea.
- Weaknesses: Inefficient auction system, lack of transparency, declining tea prices, and limited access to emerging markets.
- Opportunities: Leveraging technology for online auctions, tapping into new markets, promoting sustainable tea production, and building brand equity.
- Threats: Increasing competition from other tea-producing countries, fluctuating global tea prices, and changing consumer preferences.
b) Porter's Five Forces:
- Threat of New Entrants: Relatively low due to established infrastructure and regulations.
- Bargaining Power of Buyers: High due to the availability of alternative tea sources and increasing consolidation in the tea industry.
- Bargaining Power of Suppliers: Moderate, as tea producers rely on auctions for revenue, but they can also explore alternative sales channels.
- Threat of Substitute Products: Moderate, as consumers have access to other beverages like coffee and herbal teas.
- Competitive Rivalry: High, with competition from other tea-producing countries and within India itself.
c) Market Segmentation:
- Segmentation: The tea market can be segmented by price, quality, type (black, green, white, etc.), and target market (domestic, international, specialty).
- Targeting: The TBoI should focus on targeting emerging markets with a growing middle class and a preference for quality tea.
- Positioning: The Indian tea industry should position itself as a provider of high-quality, sustainable, and ethically sourced tea.
4. Recommendations
1. Implement an Online Auction Platform:
- Action: Develop a secure, user-friendly online platform for tea auctions, incorporating features like real-time bidding, transparent price history, and secure payment processing.
- When: Within 12 months.
- How: Partner with technology providers specializing in online marketplaces and auction platforms.
2. Promote Transparency and Traceability:
- Action: Implement a blockchain-based system to track tea from origin to consumer, enhancing transparency and ensuring ethical sourcing.
- When: Within 18 months.
- How: Collaborate with tea producers, brokers, and buyers to develop and implement a blockchain solution.
3. Foster Sustainable Practices:
- Action: Develop a certification program for sustainable tea production, promoting eco-friendly practices and fair labor standards.
- When: Within 12 months.
- How: Work with industry stakeholders and NGOs to define and implement certification criteria.
4. Enhance Marketing and Branding:
- Action: Develop a comprehensive marketing strategy to promote Indian tea in emerging markets, focusing on quality, sustainability, and unique regional characteristics.
- When: Ongoing.
- How: Use digital marketing channels, social media campaigns, and targeted advertising to reach potential consumers.
5. Encourage Innovation and Product Development:
- Action: Support research and development initiatives for new tea varieties, blends, and value-added products to cater to evolving consumer preferences.
- When: Ongoing.
- How: Provide financial incentives and technical support to tea producers and research institutions.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with the TBoI's mission to promote the Indian tea industry and ensure its long-term viability.
- External Customers and Internal Clients: The recommendations aim to benefit tea producers, brokers, buyers, and consumers by creating a more efficient, transparent, and sustainable market.
- Competitors: The recommendations address the competitive landscape by focusing on innovation, quality, and sustainability, differentiating Indian tea in the global market.
- Attractiveness: The recommendations are expected to increase market share, improve profitability, and enhance brand equity, leading to a positive return on investment.
6. Conclusion
Redesigning tea auctions in India requires a multi-faceted approach that addresses both the traditional and modern aspects of the industry. By leveraging technology, promoting transparency, and fostering sustainable practices, the TBoI can revitalize the tea industry, attract new buyers, and secure a brighter future for Indian tea.
7. Discussion
Other alternatives not selected include:
- Maintaining the status quo: This would likely lead to further decline in the tea industry as it fails to address the challenges it faces.
- Focusing solely on traditional auctions: This would be ineffective in attracting new buyers and competing in the global market.
Risks and key assumptions:
- Technology adoption: The success of the online auction platform depends on the willingness of stakeholders to adopt new technologies.
- Consumer acceptance: The marketing and branding efforts need to effectively communicate the value proposition of Indian tea to target consumers.
- Sustainability certification: The success of the certification program depends on the participation of tea producers and the recognition of the certification by buyers.
8. Next Steps
Timeline:
- Year 1: Implement online auction platform, launch sustainability certification program, and develop marketing campaign for emerging markets.
- Year 2: Expand online platform features, promote blockchain traceability, and conduct market research to refine marketing strategies.
- Year 3: Evaluate the impact of the initiatives, make necessary adjustments, and continue to invest in innovation and product development.
By taking these steps, the TBoI can transform the tea auction system in India, making it more efficient, transparent, and sustainable, ensuring the long-term success of the Indian tea industry.
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Case Description
The production of tea increased by 10% and the Indian economy experienced an inflation of 5.24% in 2018; the average auction price for tea had been stagnant at Rs. 140 per kg since 2013. The existing auction system was built on an archaic technology and the auction rules were constraining the system. This was triggering the buyers to move away from the auction to private sales, and thus stifling price discovery. The Tea Board of India hired consultants to redesign the auction system based on the principles of design simplicity, ease of use, and sustainability. Three areas for auction design improvement related to the type, closure, and transparency of auctions, were identified. But would they have the desired effect? The case provides an opportunity for students to discuss if the proposed interventions will work from the lens of auction as a pricing mechanism. With increase in adoption of auctions from selling search words, ad-spaces, to surplus inventory, this case should be interesting for students intending to build different pricing/business models. It is also useful for students to understand the mechanism in order to improve the existing auction systems.
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