AMES, Iowa -- Students in the Agricultural Entrepreneurship Initiative's International Agri-Business Field Experience Program are consulting with a business in Greece that plans to expand into the U.S. market.
Macedonian Thrace Brewery, in Komotini, Greece, has requested the students' assistance to launch Tuvunu, a new ready-to-drink herbal tea, in the United States. Students are developing a market analysis of the ready- to-drink tea market and writing a promotional strategy for the product's launch.
"Having the ability to work with the launch of a new product so strongly rooted in the Greek heritage is an exciting opportunity," said Emily Flory, a junior in agricultural business and marketing. "The product, which provides a new income source for subsistence farmers in the mountains of northern Greece, tastes amazing and has unlimited potential in the U.S."
The students began conducting market research on ready-to-drink trends in January. In March, the students traveled to Greece to present their market summary to the company's business development team.
"This course offers an opportunity unique to any course I have taken at Iowa State," said Quinn Maas, a sophomore in agricultural business. "It puts theories into application and helps students understand that the real world has more variables than what we learn in the classroom."
The students will develop a final promotional strategy for Tuvunu's summer rollout in the New York and Boston markets.
The Agricultural Entrepreneurship Initiative at Iowa State was established in 2005. The initiative broadens the understanding of entrepreneurship among faculty and students by providing educational experiences to develop student entrepreneurial skills and increase communications among students, faculty and agricultural entrepreneurs.