1. Market Research The owners decided to enter the tea business, since that particular market was unsaturated (as compared to the market for coffee) at the time of the company’s founding in 2008 They realized Filipinos’ preference for sweetness was the key to making their tea more appealing to the local market One of the owners even travelled to Taiwan to study the art of tea making

2. Market Position and Competitive Study The company positions itself as the country’s pioneer milk tea establishment, as it was around before the milk tea fad began They were the first establishment to allow consumers to customize their drinks by letting them choose the sweetness level of their drinks, add their own choice of “sinkers” and select the type of tea to be used for some drinks They are the only tea shop that uses an espresso machine to prepare their tea. A fresh batch of tea is freshly brewed for each new order All ingredients used are imported from Taiwan Serenitea is a homegrown Filipino company, not just a franchise of a foreign brand

3. Target Market The company technically caters to quite a wide market, given the large variety of drinks included in its menu and its reasonable prices Based on an observational study conducted by Bilasano et al, Serenitea’s customers are equally distributed across different age groups (ranging from those aged 18-49 years old) and socioeconomic classes (A, B and C)