...business. Starbucks has analysed the marketing mix to develope their brand in many market mostly in the Western country. However, in Eastern one, specifically in Vietnam market, the marketing mix strategy have to be different. This report will talk about the individual elements of the extended marketing mix and how to use the marketing mix in different contexts of Starbucks Vietnam. Starbucks Vietnam Marketing Mix Report 1. The explaination of how Starbuck Vietnam developed products to sustain competitive advantage Product is something that sastisfies a set of want that customers have. In every companies as well as Starbucks Vietnam, when they want to develope new product, they have to follow the eight stages of new product development (NDP) process: Figure 1: New Product Development Process (adapted from learnmarketing.net: New Product Development (NPD), n.d) The first two stages are the idea generation and idea screening. When Starbucks wants to make new product, the company needs to have new idea and the idea needs to be sreen clearly. The idea of Starbucks Vietnam can come from many ways that are from their competitor, through the market analysis or from the holiday, season or popular event. As can be clearly seen that, through time to time, Starbucks has came up with many new idea to survive in Vietnam market. They analyse the coffee culture to create the Asian Dolce Latte to sell in Vietnam as well as Asian. They also has an idea to serve Starbuck tea in Vietnam...
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...350 Class number: 12BSM2 Name of the assignment: Starbucks and Highlands coffee Date: 11/09/2013 Teacher’s name: Paul McAfee 1) Starbucks Mission Statement: “to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.” [ (Starbucks, NA) ] 2) Highlands Coffee’s mission (in Vietnam): “to bring world class retail experiences to Vietnam, through the creation of Company owned brands and partnerships with leading international brands.” [ (Highlands, NA) ] We can see that Starbucks focuses on the experiences of individual customer, while Highlands Coffee tends to create their brands to bring world retail experiences to Vietnam. 3) Prices: There are different prices from products in both stores. The average price of Starbucks product is about 70 000 VND (~ 3.3 USD) to buy a cup of coffee made by Arabica beans, which is planted at altitudes of over 600m. However, it costs about 100 000 VND (~ 4.73 USD) to buy a Vietnamese coffee cup that you can buy everywhere in Vietnam with very cheap prices. Products: There are 3 main product lines in Starbuck, including drinks, foods and nutrition. It means that Starbucks tends to serve a range of customers. In contrast, Highlands Coffee only focuses on their main product which helps Highland Coffee attracts more customers who are interested in coffee. Different international business strategy: Generally, we can see that Starbucks wants to expand their market by providing more products...
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...Prepare a market research plan to obtain information in a given company 19 Task 3 22 Assess market size trends for a chosen target market 23 Plan and carry out a competitor analysis on a rival 24 Evaluate organization's opportunities and threats 27 Task 4 30 Evaluate various techniques of assessing you customers responses 31 Design and complete a customers satisfaction survey 32 Review the success of a completed survey 31 Appendix 34 References 36 Task 1 Task 1 (Outcome 1) a. Describe the main stages of the purchase decision-making process within your chosen company * Refreshing drink is the basic human’s demand. Therefore, it is understandable when people expect to have a comfort drink to satisfy thirst. In Vietnam, Pepsi and Coca Cola took large amount of market share in beverage industry, applying consumer buyer decision process will help them a part in purchasing battle. * As usual buying decision process will cover through 5 steps. However, buying Pepsi does not need that much. Before any purchasing decision was make, the need awareness definitely appear first. Commonly, people will drink Pepsi when thirsty, be invited, habitual, etc (need recognition). They will totally ignore “Information search” because it not necessary for a common thing like a can of Pepsi. Which cost small amount of money and the demand will...
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...machine, or just get some instant coffee sachets at the supermarket. When people think about coffee, they will think of some popular brands, such as, Nescafe, Starbucks, Gloria Jeans, etc. However, it is the fact that, according to the BBC News in 2012, Vietnam has just surpassed Brazil to be the world’s largest coffee exporter. (BBC , 2012). Furthermore, G7 Coffee– the major product from Trung Nguyen Group – the greatest coffee company in Vietnam – also has high quality like the coffee of those brands. And thus, there are some questions arising from this fact, “Why doesn’t the G7 Coffee from Vietnam become as famous as the coffee from those popular brands, in all over the world?”, “Can it be?” and “How can it?” Background Trung Nguyen Group was established in June 16th, 1996. At that time, it was just a small company in Buon Me Thuot, which is one of the three main highlands for growing coffee in Vietnam. Nowadays, according to Trung Nguyen’s home page, Trung Nguyen Coffee has been available in over 50 countries in the world. In addition, Trung Nguyen Coffee is even chosen by the government for any international meetings or conferences. It can be said that, Trung Nguyen Coffee has truly become a Vietnamese iconic brand. (Trung Nguyen, 2012) (See Appendix A) Statement of the Problem As mentioned above, in July, 2012, Vietnam has become...
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...FPT University Small Business Entrepreneur Individual Assignment Student: Trinh Cong Khoi MSSV: BA60116 – Class BA0662 Teacher: Nguyen Quoc Cuong I ndividualAssignment Small Business Entrepreneur Small Business Entrepreneur Individual Assignment Page 1 Small Business Entrepreneur Table Of Content I. Background ..................................................................................................2 1. 2. 3. II. III. IV. V. VI. History ...................................................................................................2 Mission and Vision .................................................................................3 Business Objectives ................................................................................3 S.W.O.T analysis in Vietnam’s Market .......................................................4 Advantages & disadvantages McDonald’s franchise ....................................5 Investment Decision ...................................................................................6 Summary ...................................................................................................7 Reference ..................................................................................................7 I. Background McDonald's is a huge multi-national restaurant chain. There are restaurants all over the world that are willing to sell you a Big Mac and fries. Indeed, you would probably be hard-pushed...
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...decision-making process: + Need/problem recognition: want to wake up when working or studying, feel thirdty, relax, communicate with friends, discuss about business work + Information search: mostly internal information. People choose a café based on their habits, memories or hobbies + Evaluation of alternatives: taste, quality, brand, places, services and price + The purchase decision: people decide to go to a café +Post-purchase evaluation: when people go to a café, they will be given a survey to evaluate about the café. Based on this, the owners will know customers satisfied or not. If they are satisfied, they will decide to go to the café again Task 2: Relative advantage: compare two coffees | |Starbuck |Coffee Bean | |Quality |Better |Good | | | | | |Place |Big city |Big city | | | | | |Taste |most delicious in the world |suitable for everyone | | | | | |Product |variety of products |variety of products ...
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...I.Branches in the world and Vietnam: Starbucks is the largest coffeehouse company in the world ahead, with 21,160 stores in 63 countries and territories, including 12,067 in the United States, 1,570 in China, 1,451 in Canada, 1,070 inJapan and 793 in the United Kingdom. From Starbucks' founding in 1971 as a Seattle coffee bean roaster and retailer, the company has expanded rapidly. Since 1987, Starbucks has opened on average two new stores every day. Starbucks had been profitable as a local company in Seattle in the early 1980s but lost money on its late 1980s expansion into the Midwest and British Columbia. Its fortunes did not reverse until the fiscal year of 1989-1990, when it registered a small profit of $812,000. By the time it expanded into California in 1991 it had become trendy. The first store outside the United States or Canada opened in Tokyo in 1996. Starbucks entered the U.K. market in 1998 with the $83 millions USD acquisition of the then 56-outlet, UK-based Seattle Coffee Company, re-branding all the stores as Starbucks. In September 2002, Starbucks opened its first store in Latin America, at Mexico City. Currently there are over 250 locations in Mexico, about 100 of them are located in Mexico City alone. In August 2003, Starbucks opened its first store in South America in Lima, Peru. In 2007, the company opened its first store in Russia, ten years after first registering a trademark there. In 2008, Starbucks continued its expansion, settling in Argentina...
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...ANALYSIS OF STARBUCKS CASE Laurent Werro, Nikola Volchkov, Yuki Toyoshima, Jérôme Jayet Starbucks is a company that was founded in 1971 in Seattle by Gerald Baldwin, Gordon Bowker and Ziev Siegl. It is a specialized coffee roaster and distributor. The Company now operates in four areas: Americas which includes the US, Canada, and Latin America; Europe, Middle East, and Africa (EMEA); China/Asia Pacific (CAP). (1) GROWTH AND SUCCESS FACTORS Starbucks pays attention to product quality and shop atmosphere. They brought back the trend of coffee drinking and they also created a social trend. People come to Starbucks for different reasons but most important for high quality coffee. The comfortable atmosphere while drinking a high quality coffee created a gathered spot for customers where they enjoyed meeting a friend, read a book or work. All these factors created a unique "Starbucks experience". By doing so they earned the customers loyalty, some of them were visiting bars up to 18 times a month (2). They also created a partnership with the coffee growers and worked directly with them to ensure the highest quality of their products. Starbucks international rapid expansion is due to joint ventures with local partners and licensing agreements. Starbucks decided to set some criteria to their partners in order to keep the Starbucks experience across the globe. “Starbucks brand is built on passion and you can easily feel the passion of our partners in any of our international stores”...
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...QUESTION 1: Write a brief account of how different elements of the temporal and PEST environments interact to influence the situation described in the case. Change in organizations is a form of strategy in the business environment. In a global business environment today, the change in the organization is very important for businesses, as it will determine the competitiveness of the business with other competitors. To survive and develop a long way in the market, organizations need to have a change in their business environment in the best way. Conversely, the enterprises will face to losing business capabilities and their foothold in the market and it can be cause leading to bankruptcy. Nokia Corporation's case is a typical example. In this case, Nokia is facing to big challenges from their new competitors in the markets as well as in technology advance and the changing in their customers’ habits. Because of those changing, the Nokia Corporation is losing their foothold in the mobile market in the world as well as in home country (Finland). Moreover, there are still many factors that affect this group, not only internal elements but also external elements. Those factors required the organization changes. To aware more, we will base on the PEST environments, this tool is used to evaluate the environments value, it relies on Political, social, economic, technology environment. To understand how they influence to the Nokia Corporation, in this essay we will do an analysis on the...
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...coffee for their livelihood (AAFC, 2010), whether it be the north American coffee retailor to the small farmer, we can say that globalization has and will continue to affect every aspect of the coffee chain. Supply, Demand & Price It is evident today that people need to have their coffee. In the 1960’s and 70’s half of the worlds coffee came from Columbia and it was about $3.00 per pound (Lewis, 2014). The industry was booming and protected by the Columbia Coffee Federation. This was a regulatory party who acted as a mini union for the coffee farmers who basically had no voice to the state. At this time it was good business to be in agriculture in Columbia. Since then demand has only risen as the large coffee retailors such as Starbucks and Seattle’s best have made coffee drinking a major social pastime. The shifts in the coffee supply and demand are not predicted by price changes as people consume more and more coffee (Tradertech, 2014). As potential producers saw opportunity in the increased demand for coffee more and more producers were starting up. The free market system, privatization and deregulations made it ok for all to tap into the market. By the mid 90’s this created an oversupply of coffee, which dropped the price significantly. In Columbia...
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...Nguyen company - one of the leading coffee companies in Vietnam with a prestigious brand name, famous history and high growth possibility the next few years. It is a need to explore the industrial performance, business Scope, company's strategies. I shall also base on economic conditions, and company's ability to forecast the direction that the company is taking in the future. Demonstrating on the strengths and weaknesses, hence find the way to maintain competitive among other traditional coffee shop models in the market. As for the first part of the report, I'll introduce more about Trung Nguyen cooperation, their history, their steps… Following by the analysis of their internal (BSD Model), external environments (PESTEL model), Use Five -Forces model of Competition, and SWOT… we will have a complete picture about the business situation of one of Vietnam's leading companies. History: Trung Nguyen has been in Vietnam since 1996, more than a decade passed and the company has been achieving a numerous of entrepreneurial prizes and recognitions from Vietnam government, Vietnamese Young Enterprise Association… Trung Nguyen now is recognized worldwide as the best coffee brand. Let take a closer look of Trung Nguyen steps: • 1996 – Trung Nguyen Coffee Company established Starting from 1996, Trung Nguyen was a small enterprise which processing coffee in Buon Me Thuot city, Daklak province, the largest coffee plantation in Vietnam. During the year, four young entrepreneurs (Trung Nguyen...
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...I. Introduction Trung Nguyen was established in 1996. At first, it as a fledgling brand in Vietnam and after that, they have created their reputation and familiar brand name to both customers at home and abroad. Over the past 10 years, from a small coffee company in Bon Me Thuot, Trung Nguyen has developed as a powerful corporation with 6 member companies with the major industries include manufacturing and trading tea and coffee, franchise and distribution services, modern retail stores. With their slogan “Bring a new creative inspiration”, they still create a phenomenon coffee not only in Vietnam but also all over the world. Trung Nguyen coffee products and G7 instant coffee has been exported to 43 countries around the world with main markets such as America and China. Moreover, they has also built a network of 1000 stores and distributed G7 across the country. Moreover, they were honored to receive EUREGRAP International Certificate for its cleanliness and excellence in producing and they have also won a lot of prizes and good titles for the company. It makes a lot of people know about their products and brand name, and then they become more popular in the coffee market and can compete to the others. II. Task 1 1a. Explain how market structures in practice deviate from the model of perfect competition. As you know, for a company as successful as today, members in Trung Nguyen coffee company knew that business environment is more or less influenced on it, especially...
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...Competitive Strategy Essay research: Trung Nguyen“Chasing the Starbucks Dream” Lecture: Mr Frankie Yee Group No: 4, Industry A Group members: Smita Mukesh-ID: 12515963 Anay mapuskar-ID: 12527640 Kaaviya Ramesh-ID: 12526283 Nguyen Minh Dao-ID: 12528600 Kathambari Ravichandran- ID: 12526461 Ram Hasubhai Kathadbhai- ID: 12526208 Date: January 9th 2011 Group 4 Table of Contents 1. 2. 3. Frankie Yee ` Executive summary ..................................................................................................................................................... 3 Introduction ..................................................................................................................................................................... 3 Company situation ......................................................................................................................................................... 4 3.1 Past and present performance............................................................................................................................... 4 4. External Analysis............................................................................................................................................................ 5 4.1 PESTEL factors ............................................................................................................................................................. 5 4.1.1 Political/Legal ..............
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...THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: 5/21/2013 GAIN Report Number: VM3026 Vietnam Coffee Annual 2013 Approved By: Michael Ward Prepared By: Huong Nguyen Report Highlights: Post revises its coffee production estimate in marketing year (MY) 2012/13 up to about 25 million 60 kg-bags (bags), or 1.49 million metric tons (MMT) of green coffee, about a 4 percent drop from MY2011/12 due to pre-seasonal rains during the coffee flower blossoming period in main coffee growing areas. Post also revises its total export estimate in MY 2012/13 up to 23.8 million bags, or 1.42 MMT green coffee bean equivalent (GBE), due to the pace of green bean exports MY-to-date. Post’s initial coffee production forecast for MY2013/14 is 22.9 million bags, or 1.37 MMT of green coffee, about an 8 percent drop from the previous MY due to drought in the central highlands early in the growing season. Post’s initial total export estimate for MY2013/14 is 21.3 million bags, or 1.28 MMT GBE, as drought impacted production will lead to reduced exportable supplies in MY2013/14. 1 Executive Summary: Vietnam’s coffee growing areas continue to expand despite of GOV’s goal to maintain area at 500,000 ha. Coffee prices remain high and provide a strong incentive for farmers to plant additional area. According to the Ministry of Agriculture and Rural Development...
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...the external environment of an organization: economic, social, political and technological factors _ which forms a general context for managerial decision making. 4.1. Economic Economic factors play a leading role and decisive influence on the production business of Vietnamese coffee industry, inside, the developing state of the economy (stable growth or recession) has the strongest impact. In global economic conditions and domestic economy had many difficulties after the financial crisis and world recession, Vietnam's economy had escaped early the decline, gradually recovered and grew rapidly starting in 2010. In detail, GDP of Vietnam in the first 6 months of 2015 increased 6.28% compared to the same period in 2014. This is the motivation to encourage Vietnam coffee industry development. Beside, the high inflation rate of Vietnam is always the risk to the business activities; it caused uncertainties and led to currency devaluation which caused no less difficulty for business, especially in material procurement activities. However, in recent years, inflation has been curbed create a quite stable economy. Furthermore,...
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