FOREIGN TRADE UNIVERSITY

FACULTY OF BUSINESS ADMINISTRATION

______________________↞∾↠_____________________

E-COMMERCE
MIDTERM ASSIGNMENT
BUSINESS MODEL OF NFTEA

No. Full name Student ID

1 Nguyễn Minh Diệp 2012250023

2 Nguyễn Lê Hà Chi 2012250019

3 Trương Tú Quyên 2013250025

4 Đặng Phương Ngân 2013250020

5 Trần Thảo Nguyên 2013250023

Hanoi, November 2022

 TABLE OF CONTENTS

I. ACKNOWLEDGEMENT 2
II. INTRODUCTION 3
2.1. Business Idea 3
2.2. Mission Statement 3
2.3. Vision Statement 3
III. BUSINESS PLAN 4
3.1. Porter’s 5 forces model 4
3.2. Value chain analysis 5
3.3. 8 key elements of business model 5
3.4. SWOT Analysis 6
3.5. 7Cs 7
3.6. 4Ps 8
3.7. STP 10
3.8. Milestone 11
3.9. Financial Plan 12
IV. WEB PRESENCE 16
4.1. Visual identity (Logo, Color pallet) 16
4.2. Gmail 16
4.3. Instagram 17
4.4. Web shop 18
4.5. Tiktok 26
4.6. Facebook 29
4.7. Pinterest 32
4.8. Youtube 34
V. LIMITATIONS 37
VI. WORK EVALUATION 38
VII. REFERENCES 40

1
I. ACKNOWLEDGEMENT
To begin with, we want to express our gratitude to Mrs. Nguyen Thi Hong Van and
the others in our group for working with us on the NFTea Startup Planning. It has
been an enormous and phenomenal honor to work with our esteemed supervisor
Mrs. Nguyen Thi Hong Van on this ecommerce project for her invaluable
supervision, support and tutelage during the course of our undergraduate degree.
Not only has she inspired us in terms of invaluable knowledge but also her personal
experiences in related areas of psychology, life, work, and education. She provides
us with a fresh perspective on issues and an eclectic mix of approaches to problem
solving. She stands out from the crowd thanks to it, and it makes us think favorably
of her.
Once again, we would like to extend our gratitude to every individual of group 12
that participated in, contributed their skills, and worked assiduously to complete this
project. We hope our dedicatedly efforts might be thoroughly shown on this project.

2
II. INTRODUCTION

2.1 Business Idea

The benefits of drinking tea are well established. Tea has long been a mainstay of
traditional medicine and is venerated as a cure-all in many Asian countries. The
Chinese and the Japanese have drunk this tea for millennia to enhance health. It is
advised as a technique to control cold and flu symptoms even in Western medicine.
Beyond just making us feel better while we're sick, tea has many other benefits. Tea
consumption can protect brain function, improve heart health, and possibly even
lower the risk of some malignancies.
The typical Vietnamese adult consumes more than two cups of tea every day,
depending on the occasion and the mood. The tea sector is one of the most
promising ones as a result. To set our tea shop apart from the competition, we
partnered with WidiLand, a play-to-earn game that allows players to earn WIDI
Tokens, the game's official cryptocurrency, which can be redeemed for coupons for
specific drinks and services at our NFTea shop.

2.2 Mission Statement

The utmost goal of NFTea is to offer everyone the best tea possible at a price they
can afford while also offering top-notch customer support. We also provide each
individual with a progressive and secure work environment. In order to deliver
unmatched quality, we give our clients access to the most recent technology. In
order to deliver outstanding services both in-game and in real life, we team up with
Widiland, a multiplayer blockchain-based game. This is accomplished in
appreciation of non-fungible tokens' widespread acceptance, particularly in the
gaming sector. We take great care to protect the environment by always working to
improve how we do business and use energy, raw materials, and other natural
resources because we are aware of our responsibility to do so.

2.3 Vision Statement

NFTea’s vision is to offer our customers the lowest possible prices, the utmost
convenience and the best Non-Fungible Tea selection. Therefore, we strive to act in
an approachable, real, and transparent manner in all.

3
III. BUSINESS PLAN

3.1. Porter’s 5 forces model

● Threat of new entrants
NFTea must overcome entrance obstacles and up strong barriers to protect its
competitive edge through a lower price strategy, cost-cutting measures, and the
provision of new value propositions to the customers.

● Bargaining power of suppliers

Almost all tea industry businesses purchase their raw materials from a wide range of
sources. Higher supplier bargaining power generally has the effect of decreasing the
overall profitability of the beverage industry.
Key solutions are to create a productive supply chain with a variety of vendors, then
to experiment with product designs using various materials, a corporation can
switch to another if the price of one raw material increases. Finally is to create
devoted suppliers whose businesses rely on the company. One of the things NFTea
can learn from big corporations is how those firms created third-party
manufacturers whose business depends entirely on them, creating a situation where
these third-party manufacturers have substantially less negotiating leverage than
their businesses.

● Bargaining power of buyers

Buyers want to buy the best offerings available by paying the minimum price as
possible. The smaller and more powerful customer base of NFTea is,. the higher
their ability to seek increasing discounts and offers.
Key solutions are starting to build a large base of customers, rapidly innovating new
products (new products will also reduce the defection of existing customers of
NFTea to its competitors).

● Threat from substitute products

Industry profitability decreases when a new good or service satisfies a comparable
client need in a different way. If a substitute product or service offers a value
proposition that is significantly different from the current offerings in the market, it
poses a serious threat.
Key solutions are increasing the cost of switching for customers by being
service-oriented rather than just product-oriented, knowing the core needs of the
customer rather than what the client is purchasing.

4
 ● Rivalry among the existing players
Price reductions and a decline in the industry's overall profitability will result from
fierce competition among the existing companies. The total long-term profitability
of the company is affected by this competition.
Key solutions are building a durable differentiator, scaling up to compete better, and
working with rivals to expand the market rather than merely competing for a small
portion of it.

3.2. Value chain analysis

A technique for researching and examining how value might be added to activities
is value chain analysis. Manufacturers must collaborate closely with their customers
in order to guarantee that the value chain will improve. Additionally, value chain
analysis can be used in the food business to create and enhance efficiency that
benefits a variety of producers and customers as well as enhance demand
management.

● Inbound logistics:
Tea seed suppliers -> Farmers
Tea seed suppliers -> A delivery of seed
Flavoring seeds -> A delivery of flavoring ingredients
● Operation:
Manufacturing Process:
We take prime examples of two best-seller products, which are Black Tea and Green
Tea
Green Tea: Withering -> Roasting -> Rolling -> Drying -> Packing in sag bag
Black Tea: Withering -> Rolling -> CTC (Curling, Tearing and Crushing) ->
Fermenting -> Drying -> Sorting/ Grading -> Packing in sag bag
Both then got packing for transfer
Production at headquarters:
Sorting -> Quality sampling -> Blending -> Drying -> Packing cased
● Outbound logistics:
Distributor company (70%) -> Modern trade -> Consumer
Marketing Department (30%)
Domestic Customers (Ramming Tea House) -> Consumer
International Customers (Modern Trade) -> Consumer

5
3.3. 8 key elements of business model
● Key Partnership (KP): tea suppliers, outlet maker, packaging factory, outlet’s
support equipments, expedition/ cargo, master Partnership, media Partners
● Key Activities (KA): raw material supply, the sales in outlets, office
operational activities, partners maintenance, observing strategic location,
following the exhibitions and seminars
● Value Propositions (VP): price, support, quality product, follow up after
sales, innovation and continuous improvement
● Customer Relationship (CR): communications (telephone, BBM, SMS,
e-mail, social media, market place), direct visit to partners, the annual
gathering, birthday gift
● Customer Segment (CS): college students, schools, campus, the general
public, employees
● Key Resources (KS):
+ Tangible: office building, showroom outlet, warehouse storage,
human resources
+ Intangible: entrepreneur experience, tea production, management,
marketing, improving the quality of human resources
● Channels:
+ Direct: office, showroom outlet, fairs and seminars
+ Indirect: website, social media and marketplace optimization
● Cost Structure (CS): raw material costs, employees salary, marketing costs,
human resources training
● Revenue Streams (RS): sales in showroom, selling partnership packages,
selling tester packages, selling drink favors.

6
 3.4. SWOT Analysis

No Elements Strengths Weakness Opportunities Threats

Various backgrounds, Many database of

Customer Limitation of Emergence of
1 especially NFT or potential
segments human resources competitors
metaverse lovers partnerships

Value Quality product, NFT Follow up after Sensitivitas about Emergence of

2
propositions perks, price sales price competitors

Effective marketing, Communication, People are

Be emulated by
3 Channels pilot project Low human increasingly aware
competitors
successful resources of internet

Partners did not

Customer Maintenance
4 Email marketing Keyword research repeat order raw
relationship partners
materials

Partners did not

Revenue Continuous source of Distrust of Selling NFTea
5 repeat order raw
stream income potential partners tester package
materials

Key Guaranteed raw High delivery Master partnership Slow business

6
resources materials fees internal showroom development

Still need to
A lot of new
improve the
7 Key activities Autopilot system opportunities to Comfort zone
partner’s follow
increase income
up

Has not yet

Partnership
Key Term of payment is found a
8 opportunities with Risky partners
partnership long enough competitive
many parties
expedition

Mentoring
Product business and
Cost Effective and The increase in raw
9 development entrepreneurship
structure efficient marketing material costs
investment costs development
program

7
3.5. 7Cs
● Context
We try to design harmonious colors and endeavor to build the united color layout
for the interface of our sales website, which is designed with a simple yet clean
layout filled with product photographs. We also routinely upload images for
collection to draw consumers' attention.
● Content
To draw customers, we routinely add content to product photos (2-3 items/day). To
keep the website fresh, we are also working to update the videos tutorial of how to
use the tea bag and also how to utilize the multifunctional of each tea bag.
● Commerce
We created unique accounts on online marketplaces so that customers could quickly
learn the product's price and make references to the merchandise. Customers and
retailers can conduct business more easily on both online market websites and
physical showroom shops. At the same time, we perceive that the majority of
e-commerce websites feature a loyalty and membership program for regular users
and customers. Additional discounts, free delivery, and new release information of
every new tea collection or tea menu and order are provided as rewards.
● Connection
Social media integration falls under the area of site-to-site linking specifically.
Many websites allow users to share using a built-in hyperlink that authenticates the
user through social media and makes an announcement in the social media channel
in order to advertise their goods and services. Examples of these social media
platforms include Instagram, which has a large user base and integration that makes
word-of-mouth advertising for products effective. For simple management and
customer service, all of our websites are set up on social networks and in online
marketplaces to be connected to one another.
● Community
The sense of community on websites relates to the openness with which users can
communicate with one another. By examining the routes of communication between
customers, it is possible to automatically identify the presence of a community
(such as forums, message boards, instant messaging tools). Customers can leave
evaluations on current e-commerce websites either as anonymous consumers or
under a personal account.
● Customization
We've established that users can customize the website to suit their individual needs.
One such customization is the ability to change the language, which is beneficial to
users. They can modify the settings to customize the content as they desire.

8
 ● Communication
Website and customer communication takes place via email lists and "site
broadcasting." By interacting with them on social media, updating product photos
with messaging for customers, and communicating on the store website, we
approach our customers and encourage them to visit the store.

3.6. 4Ps
● Product
○ Design and technology
NFTea is not based on any sophisticated technology, the other way around, it’s a
really simple beverage (tea) in which we add little bubbles of tapioca or other fruity
flavors. Making those little bubbles is the only part of the process in which we will
need certain technologic instruments. There’s two parts when looking into the
design of our bubble tea. The first one concerns the vessel or container (most of the
time it is going to be a cup, which we plan on personalized) and the second one is
focused on the actual bubbles. This product is a beverage which shares the same use
pattern as other hot and cold beverages such as coffee, different sodas, tea,
smoothies etc. Depending on the type of tea you use you can experience different
effects, and here they are some of them: Black tea, white tea and green tea

○ Quality
The quality of the bubble tea mainly depends on the quality of the ingredients, both
for the tea and for the tapioca bubbles. There are a lot of newly opened shops that
use really sweet and sugary ingredients for their bubbles, because a sweet flavor
usually attracts more people, but the high-quality tapioca is not very sweet. That’s
why we import the ingredients from high quality brand in order to keep the natural
flavor
Pu-erh tea has been popular in many parts of the world and is considered one of the
famous teas with very good health benefits. Crafted from ancient Shan Tuyet tea
with a special natural fermentation process, Pu Erh Tea produces a reddish-brown
tea, a mild acrid taste, a sweet aftertaste, a warm, mellow flavor with a hint of
wood. and wood ear, also known as the smell of time.
The special feature of Pu Erh Tea is that it has no expiration date, the older the tea,
the higher its medicinal properties. Therefore, customers will not worry about tea
using preservatives

○ Price
Prices will be a little higher than the national market average but customers have
many opportunities to have affordable price

9
 - Flexible Pricing
+ Customers are randomly given 10% discount voucher when
participating in Widiland game
+ Preferential price for new product (discount 5 %).
+ Discount on special holidays (Valentines Day, Christmas,..)
- Customer Loyalty Discounts
+ Gift card on special days (birthday, anniversary..), buy 1 get 1 card,...
+ Royalty ranking (gold card - discount 10% each purchase, silver card
- discount 5% each purchase with preferential treatment)

○ Place
- Because the majority of NFTea's sales comes from clients between the ages
of 16 and 35, our store should select locations near schools, government
buildings, entertainment venues, universities, and bus stops.
- Outlet design: friends can gather in this space's decor.

○ Promotion
- Advertising
With the targeted segment, NFTea needs to begin the adoption process with the
stage of “Awareness.” In this phase, impersonal sources of information such as mass
media advertising are most important. They can take advantage of social media such
as Facebook, Tiktok, Youtube (collab with Kol,) so that they can convey the
message of a very natural taste of Pu Erh Tea and amazing experience through
Widiland
- Special offer
+ During the first week of each season (and two weeks during
Christmas), if you buy one you can get your second bubble tea at half
price.
+ You can get a free drink on your birthday.
+ The first 50 clients (with the fidelity card) can get a 50% off discount
on their beverage.
+ Gamification
- User testing
On the one hand, the shop will have a special space for testing the different bubble’s
flavors, a place where customers can try different tastes and also get advice from
one of our bubble tea experts. On the other hand, employees will give away a free
testing mini-cup of several famous products or new inventions in the street, that
way will encourage people to try it and, if they like it, they will buy an actual
bubble tea/cup

10
3.7. STP
● Segmentation

Density Urban (Hanoi)

Age 19-35

Gender Man, woman

Income 2-10 million VND/ month

Lifestyle Busy, have no time to relax and take care of health

Occupation University student, worker

Generation Gen Z, millennials

Out-going, willing to try new things, enjoy tea-talk

Personal Characteristic
with friends, interested in NFT, blockchain

Social class Working class

Readiness stage Intention to buy

Quality time with quality tea place, chance to join

Benefit
NFT game, affordable price, healthy

User status potential buyer

● Target Marketing
The mission of NFTea is to provide the best Non-Fungible Tea assortment, the
lowest pricing, and the highest level of convenience to all of our consumers. As a
result, we make an effort to be personable, sincere, and transparent in all we do.
● Positioning
Since NFTea is an internet retailer, we concentrate on marketing designed and
promotional applications. We constantly place an emphasis on the quality of
advertising, including locating and studying the most recent techniques for creating
attractive, rich sales websites and providing clients with the most understandable
information.

11
3.8. Milestone
Only 50% of small enterprises remain in operation after the first five years. And of
the remaining half, many fall short before they can achieve significant financial
milestones. Even for business owners who have been in operation for longer than
five years, that number should be concerning. In order to help the start-up stay
motivated and on track, setting realistic business milestones is a must.
● A profitable business model
The operation of the complete firm should be described in your business model.
Three main values should be the emphasis of the narrative: who the target audience
is, what kind of value they desire, and how to provide that value at a reasonable
price.
● First long-term consumers
The next commercial achievement entails that delightful money exchange. Gaining
your first recurring client, sometimes known as an "anchor client," will boost your
confidence in your company and provide the drive you need to continue. The word
"repeat" is essential here. The first repeat clients can be acquired via cold phoning,
getting a tip from a friend, or using an existing relationship. In order to attract the
second recurring customer, you must fully comprehend who they are and how they
spend their time, both online and offline.
● Adaptable, on the ground marketing strategy
Create a scalable marketing strategy based on the available tools. Scalability is the
ability to increase the effect without also increasing the costs by the same amount.
To develop a perfect marketing strategy, a business can count on by utilizing
internet marketing strategies and collaborating with the correct individuals.
● Gain authority in the industry
Produce the kind of material that will be valued and needed by the target industry,
and provide it for free. Soon, our business' rivals may acknowledge the way ours
looks and what we do best. Participate in regional gatherings where you may share
your knowledge, then look for national conferences and speaking opportunities.
Speaking engagements and excellent web content combined will make our company
a sought-after authority.
● Reach a certain to significant number of sales
Set a clear objective for sales. Establish an aggressive yet realistic revenue target for
the just founded company. The figures will undoubtedly change based on the type
of organization. But once it's decided, let your teammates know. Make it a shared
goal for the entire organization.

12
3.9. Financial Plan
● Salary
Job Title Number of Salary/ Salary/ hour
positions month

1 Manager 1

2 Marketer 2 6mil

3 Accountant 2 4mil 20,000

4 Tea provider/ 2 3mil 20,000

maker

5 Waiter/ 2 1.5mil 18,000

Supporter

6 Shipper 1 1.5mil 18,000

Total: 38,400,000 VND/ month

● Marketing
- Facebook and Instagram will serve as our primary internet marketing
platforms. For the first three months (January, February, and March),
we want to spend 3 million VND each, the next three (April, May, and
June), 1.5 million VND each, and the remaining one million VND for
each month.
- For offline marketing, we employ printed advertisements in addition
to sale promotions to boost sales volume.
- Additionally, we work with Widiland to advertise the product and
attract new clients. After paying their bills, customers who are already
Widiland members can receive vouchers from NFTea. We consider
this to be an addition and a present for Wildland players to use later.

13
 Facebook 3mil/ month for 1.5mil/ month for 1mil/ month for
first 3 months next 3 months last 6 months

Instagram 1mil/ month for 1mil/ month for 1mil/ month for
first 3 months next 3 months last 6 months

Sales 33,560,000 VND/ first year

Print Ad 7mil/ first 3

months

Brand 50mil/ 1 year

Collaboration
Total: 122,060,000 VND/ first year

- Equipment: Based on a normal restaurant, a survey about our competitors

and our own unique, we make a list of equipment that we have to spend as
below and the total amount of money is 63,300,000 VND in the first year.
- Utility cost: We estimate the cost of water and electricity is 3 million VND
and for Wi-Fi is 200,000 VND per month. The set-up fee is 200,000 VND
- Renting cost: our restaurant is located in Trung Kinh Street with 60m2 and
the first floor only. The market price for renting is 15 million VND/month,
pay 3 months in advance.
- Refurbishment fee: We plan to fix and redecorate our restaurant after every 6
months running a business and spend 5 million VND for each time
refurbishment
- Material cost: After conducting a survey in the current market, we finally
chose for our restaurant the most suitable supplier in each field with not only
reasonable price but also with fresh quality.

According to the divided operational management, we calculate that the average

cost for each drink of raw material is 19.025 VND
Estimated number of units sold per day: After taking into account many factors that
influence our unit sold, such as seasonal factors, trending factors, human factors,
and so on, and our capacity, we estimate our unit sold in the first year as shown in
the table below:

14
 month 1 2 3 4 5 6 7 8 9 10 11 12 Total

sales/day 40 80 90 105 116 130 140 165 170 190 230 310 1686

sales/month 1240 2240 2790 3150 3596 3900 4340 4950 5270 5890 6900 9610 53,876
Total cost of material: 1,024,990,900 in the first year
Revenue: 2,326,419,556 in the first year

● Cash Flow
We calculate and measure profit & loss account:
Value (VND)

Revenue

Sales 2,326,419,556

Other

Total revenue 2,326,419,556

Opening stock

Purchases 1,024,990,900

Closing stock

Gross profit 1,301,428,656

Expense

Renting 180,000,000

Utility 38,600,000

Insurance

Salary and bonus 460,800,000

Refurbishment 10,000,000

Depreciation 5,000,000

Advertisement 122,060,000

Total expense 816,460,000

Net profit before tax 484,968,656

15
IV. WEB PRESENCE

4.1. Visual identity (Logo, Color pallet)

4.2. Gmail
Account: [email protected]
Password:
In order to create any web presence, gmail is a must, as it helps to build up the
across different web platforms.

16
4.3. Instagram
Instagram is a social media platform with a focus on photo and video sharing,
therefore it was built with the idea of producing stunning visuals. According to user
preferences, it also provides a wide variety of photo and video editing modes.Since
Facebook purchased Instagram a few years ago, Instagram's user base has surpassed
that of Pinterest and Facebook. NFTea consequently immediately adopted the social
trend and made an appearance on Instagram.

Link to Instagram: Link

ID: [email protected]
Pass:
Step 1: Create an Instagram account by using gmail, clarify appearance of the shop
2 weeks before launching product

17
Step 2: Start building contents about main products of NFTea

18
4.4. Web shop
Wix, often known as Wix.com, is a cloud-based web building platform that enables
users to create both desktop and mobile HTML websites. Its users have the ability
to easily create professional websites that look fantastic on any screen because of
the user-friendly technology and strong built-in features. Plugins, social networking,
email marketing, contact forms, e-commerce, forums, and online marketing are all
simply addable and removable.

Link to Wix: Link

ID: [email protected]
Pass:
Step 1: Create account or log in Wix with Google Mail, getting access to the
editing site screen

19
Step 2: Plan the layout and content of the website
Following the selection of the website's template and content, editing is done using
a template that we have created specifically for the online tea shop website.

20
Step 3: Start uploading articles of each product with related information

21
22
23
Step 4: Choose domain, update logo, then publish the web

24
25
4.5. Tiktok
A well-known social media platform called TikTok enables users to make, watch,
and share 15-second films taken using mobile devices or webcams. A unified
platform is available on TikTok for business, namely for advertisers and marketers.
Businesses can go to their e-learning center (ads management platform) to learn
how to design targeted ads that speak directly to their audience, set budgets, and
analyze relevant campaign statistics. Tiktok can therefore be very helpful for
multiple forms of businesses.

Link to Tiktok:Link
ID: [email protected]
Pass:
Step 1: Create an account by using gmail

26
Step 2: Customize the Tiktok profile

27
Step 3: Proceed to articles, short videos or products overview

28
4.6. Facebook
Facebook is a website that, when you first sign up with them, resembles a little
social network. You may communicate with pals while also exchanging
photographs, news, and information. Anything you want your friends to know about
you, such as your interests. NFTea selects Facebook as one of the primary
advertising headquarters of the shop because Facebook has been a crucial
component of the digital shift for every business.

Link to Facebook: Link

ID: [email protected]
Pass:
Step 1: Create an account using gmail

29
Step 2: Create Fanpage and start editing profile

30
Step 3: Upload articles

Step 4: Maintain the Fanpage

Uploading products information at times
Hosting give-away events, special announcement

31
4.7. Pinterest
Pinterest is a website where users may upload and categorize photographs in the
style of social networks (or attach to a needle). Users organize and build photo
collections on a variety of subjects, such as based on interests or events. Users have
access to repin (connected) attached collections, photographs, and other people's
collections. Additionally, Pinterest can connect to a variety of social media
websites.
To provide customers a variety of taste tea boxes or tea collections, NFTea chooses
Pinterest. To pique users' attention, Pinterest can simultaneously give Widiland’s
players a variety of NFT codes that lead to access to a random tea collection.

Link to Pinterest: Link

ID: [email protected]
Pass:

32
Step 1: Create Pinterest account by using gmail

33
Step 2: Set the name and address

34
4.8. Youtube
Users can share video clips on YouTube by uploading or downloading them to a
computer or mobile device. Additionally, if there is investment, YouTube videos
might generate revenue. In order to advertise the product and produce numerous
films that would draw visitors, NFTea has subscribed to the channel.

Link to Youtube: Link

Step 1: Create account by using gmail
ID: [email protected]
Pass:

35
Step 2: Change avatar, background image, start to create content on personal
channel

36
Step 3: Proceed to upload video

Step 4: Maintain channel

Create a plan of contents to upload on Youtube channel by days, weeks or months

37
V. LIMITATIONS
Selling tea involves more than just selling tea; it also requires creative skills and
other things to be successful as a business. NFTea is simultaneously up against
several challenges as a result of combining a common idea of selling tea with an
optimistic trend in the blockchain or metaverse business. As entrepreneurs attempt
to take a risk and leave a lasting mark in the tea industry, there are a few crucial
considerations to keep in mind.
● Camellia Sinensis: The Magical Plan
The mystical Camellia Sinensis plant, which yields more than 1000 different kinds
of tea, is what makes the entire tea industry possible. Anyone who wants to work in
the industry must learn about the facility. It is used to harvest a variety of teas,
including Yellow Tea, Green Tea, Black Tea, Puer Tea, Oolong Tea, and White Tea.
The production procedure that goes into each of them differentiates them from one
another, which can be hard to operate from scratch. Visiting tea farms and speaking
with the farmers is the most authentic method to learn about this plant. Any
information you get in books or on the internet cannot compare to personal
experience. Given this, an overview of plants or tea should be what NFTea looks
into.
● Procurement and Storage of Teas
To ensure the success of your tea business, a significant amount of backend effort
and logistical support are required. Finding the proper teas from the right estates is
crucial, but getting them and having them shipped to India to sell might be more
difficult still. For instance, green teas are subject to a 110% duty. Additionally, the
various varieties of tea are not well-known to the customs authorities in India. They
become distrustful as a result, which makes the procurement process more
challenging overall. After the teas have been delivered here, it is essential that they
are stored carefully to prevent bug infestation. Many teas, especially mint ones,
have a propensity to become infected fast.

38
 ● Product Packaging
The packaging of your goods, which is an essential component of both logistics and
marketing, can have a significant impact on consumer choices. Packaging directly
appeals to a person's five senses and has a big impact on sales for your business. It
is not surprising that manufacturers spend more than $150 billion on product
packaging each year. Apparently, 52% of customers consider buying your goods
again if they like the packaging, and 90% like to reuse the product's container. As
NFTea is an active start-up in the tea business with targeted customers who are
youngsters, it is important to address this visual appearance as detailed as possible.

● Generated ideas of NFT

Even though the NFT (non fungible token) together with blockchain or metaverse
definition is still new, huge and only getting bigger, it seems difficult for non-users
to delve into and start following the sections. NFTs are speculative and illiquid
investments. Since the asset and market are new, there isn't much historical
information to look up. It is an extremely risky investment. Like most works of art,
whether they are digital or tangible, their worth depends on who will pay for them.
That is an NFT’s "unique" characteristic, which has pros and cons. Additionally,
NFT can be extremely fragile and difficult to combine with other economic sectors,
particularly the beverage sector. Customers might just want to relax with a cup of
tea, go right to the store, or order a drink online without playing any games or try to
make out any coins to get one. NFT can be very popular for youngsters who are
much into economy, but for the other targeted customers, it might be an obstacle.

39
VI. WORK EVALUATION

Full Name Tasks Percent of contribution

Generate business plan,

Nguyễn Minh Diệp business model and 20%
finalize report

Create general visual

identity (logo, color
Trương Tú Quyên 20%
pallet), take charge of
Instagram establishment

Presenter, take charge of

Nguyễn Lê Hà Chi Tiktok and Youtube 20%
establishment

Implement the
Đặng Phương Ngân presentation slides and 20%
the web shop

Presenter, take charge of

Facebook, Pinterest
Trần Thảo Nguyên 20%
establishment and finalize
report

40
 VII. REFERENCES
1. Jordan Awoye, managing partner at A.C. (2022) Op-ed: The good, the bad and the ugly when it
comes to non-fungible tokens, CNBC. CNBC. Available at:
https://www.cnbc.com/2022/02/02/here-are-the-pros-and-cons-when-it-comes-to-non-fungible-
tokens.html (Accessed: November 27, 2022).
2. Sheth, R. (2017) #7 things to keep in mind before starting a tea business, Entrepreneur.
Entrepreneur India. Available at:
https://www.entrepreneur.com/en-in/starting-a-business/7-things-to-keep-in-mind-before-startin
g-a-tea-business/299101 (Accessed: November 27, 2022).
3. Obc (2022) The 7 CS of marketing;how to apply them, OBC. Available at:
https://www.obc.co.ke/the-7-cs-of-marketing/ (Accessed: November 27, 2022).
4. Ltd, A.A. (2022) Business and market analysis of tea company, UK Essays. UK Essays.
Available at:
https://www.ukessays.com/essays/marketing/business-and-market-analysis-of-tea-company-ma
rketing-essay.php (Accessed: November 27, 2022).
5. Brewing a Sustainable Future: Certifying Tea Farmers, 2007 2017 (no date). Available at:
https://successfulsocieties.princeton.edu/sites/successfulsocieties/files/BC_Kenya_TeaCertifica
tion%281%29.pdf (Accessed: November 27, 2022).
6. Business development strategy, ready-to-drink tea, your tea ... - IJSRP (no date). Available at:
https://ijsrp.org/research-paper-0516/ijsrp-p5323.pdf (Accessed: November 27, 2022).
7. Mancini, M. et al. (2020) Global growth, local roots: The shift toward emerging markets,
McKinsey & Company. McKinsey & Company. Available at:
https://www.mckinsey.com/capabilities/operations/our-insights/global-growth-local-roots-the-s
hift-toward-emerging-markets (Accessed: November 22, 2022).
8. How to avoid international marketing mistakes (no date) Business News Daily. Available at:
https://www.businessnewsdaily.com/5241-international-marketing-fails.html (Accessed:
November 22, 2022).
9. Field, E., Pears, E. and Schaninger, B. (2022) A single approach to culture transformation may
not fit all, McKinsey & Company. McKinsey & Company. Available at:
https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/a-s
ingle-approach-to-culture-transformation-may-not-fit-all (Accessed: November 22, 2022).
10. SWOT analysis for a coffee and tea chain (no date) prezi.com. Available at:
https://prezi.com/dk27aivj_vr9/swot-analysis-for-a-coffee-and-tea-chain/ (Accessed: November
27, 2022).

41