But you won’t find the traditional style in a Starbucks… Pricing: Even after ten years of the fast-growing economy, Vietnam is considered as a lower-middle-income country (("About Viet Nam", 2020). (“Starbucks Coffee Company”) Starbucks have always believed in serving the best coffee possible and it is their goal for all of their coffee to be grown under the highest standards of quality, using ethical sourcing practices. (“Starbucks Coffee Company”) Today, Starbucks connect with millions of customers every day with exceptional products and nearly 18,000 retail stores in 60 countries. Starbucks believes that China provides an appropriate business opportunity, with economies of scale, increasing human energy spending and coffee culture boom, even although China is a tea-making country. She confirmed that Vietnam with a population of over 90 million people is a large market and provides opportunities for many coffee brands to develop. Another threat is Trung Nguyen’s plan to enter the U.S. market which follows the company’s rise to become the biggest roaster and packaged-coffee retailer in a country with a brewing tradition dating from 19th century plantations by French colonists. Marketing Disclaimer: This work has been submitted by a university student. The company said it plans to open the shop in the… Brand Portfolio Starbucks Coffee, Seattle’s Best Coffee, Tazo Tea, Evolution Fresh, La Boulange and Torrefazione Italia Coffee. All work is written to order. Laos, a landlocked country bordered by Thailand, Myanmar, Cambodia, Vietnam and China, has so far reported only 24 COVID-19 infections, according to a tally kept by the Johns Hopkins University. VAT Registration No: 842417633. While it’s consumed as a morning pick-me-up in parts of the western world, it’s a social activity that takes place throughout the day here. They usually enjoy tea as its purest form without adding any flavors. According to an annual report by USDA Foreign Agricultural Service, in 2019, Vietnam is the second-largest coffee producer and exporter in the world, with more than 30.5 million bags of coffee has been produced.  The forecast growth rate is higher than 8% a year and expecting to increase steadily over the next five years.  Domestic consumption will also increase to 3.4 million bags, which is about 10 percent of total coffee production.  Vietnamese people are proud of their traditional robust, dark brew coffee. The rest of the world has also caught on to the great flavour of the Vietnamese coffee bean and the country is now one of the top coffee exporters in the world. Vietnam is the world’s second-largest coffee producer and it has dozens of local chains as well as small coffee shops on nearly every street corner which present a major challenge for Starbucks to break into the crowded market. We're here to answer any questions you have about our services. One of the big players in the game, Starbucks, occupies more than 30,000 outlets around the globe. Study for free with our range of university lectures! It’s understandable why the US Starbucks decided to set up its first shop in Vietnam in HCM City, a commercial hub. According to Anthony Emms, managing partner at Stanton Emms Strategy Consultants in Singapore, which advises international food and beverage companies on Asian markets, he commented that Vietnam’s economy has slowed recently in part because of a problematic banking sector, but Starbucks’ upmarket brand will appeal to the growing Vietnamese middle class, and that he doesn’t believe there is a massive barrier to Starbucks in Vietnam and further added that Starbucks is not really a coffee but is a food-service concept. Starbucks, “the third place”, and creating the ultimate customer experience. This is not an example of the work produced by our Essay Writing Service. A case study of Starbucks.Â, Nguyen, H. (2017). Photo courtesy of Starbucks Vietnam. Phuong added that Starbucks has so many things like Cappuccino that other local coffee stores don’t have. This business strategy successfully connects tea and coffee, and cultural conflicts can be transformed into creative advantages. Laos, a landlocked country bordered by Thailand, Myanmar, Cambodia, Vietnam … Venue options, which range from mobile coffee carts to locally-owned cafes to big-but-still-local names like Trung Nguyen, are pretty much unlimited. (“Starbucks Coffee Company”) Starbucks is named after the first mate in Herman Melville’s Moby Dick. (2020). No plagiarism, guaranteed! Cà phê espresso đậm vị và bốc hơi sữa - ngon tuyệt hảo khi thưởng thức riêng hay khi thêm đường. Information in this assignment should not be used to form the basis for any kind of financial or investment advice, as the content may contain inaccuracies or be out of date.. 4316 words (17 pages) Business Assignment, 4th Nov 2020 Therefore, the demand for low-cost coffee is substantial. They insist on Starbucks because they know they can count on its genuine service, an inviting atmosphere and a superb cup of expertly roasted and richly brewed coffee every time. Business Assignment In 2013, it opened its first store in Ho Chi Minh City, Vietnam; Starbucks entered its 64th international market and 15th market in the APAC region when it opened its first store in Brunei i n ... 75 Steam Statistics: 2019/2020 Facts, Market Share & Data Analysis. Why Consumers in Developing Countries Prefer Foreign Brands: A Study of Japanese Brands in Vietnam.Â, Dollinger, M. (2008, June 11). (“Starbucks Coffee Company”) In 1983, Howard travelled to Italy and became fascinated by Italian coffee bars and the romance of the coffee experience. The chain will offer flavors that will be tailor-made to Vietnamese tastes along with its trademark drinks, while expanding aggressively into Hanoi and other cities. The purpose of this literature review is to examine the challenges that Starbucks is facing in the Vietnam market.  This literature review will present the company's international strategy plan and analyze specific elements that influence the company's future business.  This paper also examines Vietnamese consumers with their perceptions and experiences of Starbucks as a foreign brand.  Lastly, this literature suggests potential improvement for Starbucks in Vietnam. Although the company's success is well-known around the globe, Starbucks is struggling in Vietnam.  After eight years of entering the Vietnam market, Starbucks only has a total of 34 stores.  Additionally, the company has announced the plan to close some stores in the next few years due to poor performance (Vietnam Investment Review, 2018). (“Starbucks Coffee Company”) Starbucks purchases and roasts high-quality whole bean coffees. You can view samples of our professional work here.. Any opinions, findings, conclusions, or recommendations expressed in this material are those of the authors and do not reflect the views of BusinessTeacher.org. Company Registration No: 4964706. Starbucks has some equally impressive statistics with 41 years of experience and 3,300 stores in 12 countries in the China and Asia-Pacific region. When the first Starbucks store opened in Seattle's historic Pike Place Market in 1971, it meant to be a different kind of company that not only selling coffee but also focusing on a feeling of connection.  The company's mission is to inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time (Starbucks, 2020).  The company sets its stores to become a place where everyone is welcomed to spend their time while enjoying excellent service and exceptional beverages.  As of June 30, 2019, Starbucks has 30,000 stores across over 80 countries and 300,000 employees.  The company has become the largest roaster and retailer of specialty coffees in the world. Retrieved from http://www.fastcompany.com/887990/starbucks-thirdplace-and-creating-ultimate-customer-experience. Starbucks is grateful to their partners (employees) for making Starbucks the company that they are. While the market is smaller than that for coffee, Starbucks’ research on consumer spending trends show the increasing concern with health. According to the World Bank, the average local salary is only $148 and presents the most significant proportion of the population. Dang Le Nguyen Vu, founder and owner of Trung Nguyen said he’s ready to compete against Starbucks with a plan he’s developed over the past three years. Starbucks' CEO, Kevin Johnson (2018), confirmed that the company performance is not operating as good as expecting and indicated a necessary change to address the preferences and needs of its customers. Son Group member: Le Quynh Anh Nguyen Phuong Uyen Le Thi Truc Ly Quach Minh Thanh 3. *You can also browse our support articles here >. From just a narrow storefront, Starbucks offered some of the world’s finest fresh-roasted whole bean coffees. They believe in treating their partners with respect and dignity. Joints like Starbucks and Coffee Bean and Tea Leaf succeed at higher-priced specialty drinks, while coffee carts focus on their classic offerings at extremely low prices. Inside any Chinese Starbucks store, interior design perfectly combines Chinese and Western styles. Starbucks said it was monitoring the coronavirus situation but is still aiming at an opening in summer 2021. The grand opening of the HCM City store marked Vietnam as Starbucks’ 12th market in the Asia Pacific, and adding up to its chain of some 3,400 stores in the area. Coffee can replicate and symbolize the global influence of Western coffee culture while showing the uniqueness of a particular locality or cultural context (Tucker, 2017).  With the continuous integration of Chinese and Western tastes, Starbucks has encouraged emotional connections with consumers and improved their experience. Laos, a landlocked country bordered by Thailand, Myanmar, Cambodia, Vietnam and China, has so far reported only 24 COVID-19 infections, according to a tally kept by the Johns Hopkins University. A cup of traditional cà phê sữa đá is made with robusta beans, which have a sharper, bitter flavor than more mild arabica beans. Tho and his friends are part of the sizeable under-35 generation that Starbucks, the Seattle-based company, will seek to convince and switch from stronger and cheaper coffee at their neighborhood café to Starbucks coffee. Retrieved from https://www.bloomberg.com/news/articles/2019-02-18/manhattan-luxury-comes-to-one-of-asia-s-hottest-property-markets, Lee, J., & Nguyen, M. (2017). Over the past few years, the fresh fruit smoothie industry has bloomed into a billion dollar industry. It is well-known that Vietnam is the origin country of coffee.  There is a long history of coffee drinking in Vietnam.  From the past, through many ups and downs of history, coffee still has a place in Vietnamese life.  Coffee has appeared in Vietnamese society since the French colonization turned Vietnam into a colony.  The Central Highlands is the largest coffee area in the country with the best quality coffee.  Arabica and Robusta are the two types of coffee that are most popular in Vietnam.  The steady growth of the coffee industry shows that coffee has become an inseparable part of people's daily lives in Vietnam.  Vietnam is among the top five Asian countries in terms of per capita coffee consumption after Japan, South Korea, and Thailand (Pham, 2020).  According to the World Bank, in 2019, the total population of Vietnam is approximately 97.60 million, which 70% of the population is under 35 years of age. In 2010, Starbucks first introduced nine different types of tea drink selections, including both Chinese and exotic teas. The drink is available all over Vietnam, served at roadside cafes, restaurants and at home. One of the customers, Angelica R. from Salt Lake City said she can’t wait till Evolution is worldwide so she could go back again. (NaturalNews) Starbucks, the coffee shop that is renowned for its seemingly limitless coffee varieties, is opening a new chain of juice bars in response to the growing health trend towards unprocessed and whole foods. He further explained that people in Vietnam drink their coffee very strong and Starbucks coffee is very light. While every Starbucks store in the United States set up as a format outlet that is allied with global branch store design, in China, Starbucks comprises Chinese elements into its specialty plan that every detail expresses a strong flavor of oriental culture (Qian & Xing, 2016). Retrieved from https://www.vn.undp.org/content/vietnam/en/home/countryinfo.html, Baidya, M. K., Maity, B., & Ghose, K. (2019) Innovation in Marketing Strategy: A Customer Lifetime Value Approach.  Retrieved from http://jbm.nccu.edu.tw/pdf/volume/2502/JBM-vol-2502.pdf#page=80, Dao, K., & Heidt, T. (2017). Starbucks is attempting to slowly expand in a market where it was once shunned.. Le Suan, one of Phi’s customers, agrees that while he now lives in the United States, he grew up in Vietnam and defaults to local coffee joints when he returns to his home country for a visit. Starbucks has far less coverage than in regional countries. Their merchandises include coffee and tea‐brewing equipment, mugs and accessories, packaged goods, music, books and gifts. The company also offers Chinese dishes to blend in with its beverages, such as moon cakes and Chinese puddings, to associate with Chinese festivals. Dang Le Nguyen Vu, whose Trung Nguyen Group owns 55 cafes in Vietnam, said he welcomes Starbucks and doesn’t view the American newcomer as a threat. Starbucks is also monitoring Vietnam’s rising coffee demand. Senatore further added that Starbucks doesn’t compete directly with the local coffee shops, just the same way that McDonald’s or KFC doesn’t compete directly with the local fast-food vendors. The civet coffee is considered a delicacy. They’re a neighborhood gathering place which has become a part of their daily routine. Location is the key to success, and getting the right site usually comes with high prices. Vietnamese people value tea for its simple purity and drink organic tea that grows popularly in the North of Vietnam. Fischer, D., & Roy, K. (2019). So who is Starbucks’ targeted customer in Vietnam? Disclaimer: This work has been submitted by a business student. Our academic experts are ready and waiting to assist with any writing project you may have. Retrieved from http://repository.vnu.edu.vn/handle/VNU_123/67911, Qian, Y & Xing, T. (2016) Starbucks VS Chinese Tea—Starbucks Brand Management Strategy Analysis in China.  Retrieved from http://dx.doi.org/10.3968/8197, Rajasekaran, R. (2015). Culver said Starbucks will price its products in a premium position that is competitive. Keywords: Marketing strategy, culture cognition, consumer behavior, brand management, international markets, Foreign brands, global/local identity, customer-oriented marketing. Traditional Chinese furniture is suitable for small, elegant western bars, such as cafes and Chinese beverages and drinks, beautiful curtains, glasses, and old books. Laos, a landlocked country bordered by Thailand, Myanmar, Cambodia, Vietnam and China, has so far reported only 24 Covid-19 infections, according to a … STARBUCKS IN VIETNAM 2. Starbucks, entering Vietnam in 2013, has one store for every 1.7 million people in Vietnam, which is much lower than other ASEAN countries like Malaysia, Thailand, or Cambodia. Liu, S. M., & Yang, X. T. (2015). Thuy further added that expensive coffee is just for the children of government officials, or people who have lots of money. Furthermore, other international food chains have opened stores in Vietnam in recent years, including the Australian coffee chain Gloria Jean’s Coffees International, the California-based Coffee Bean & Tea Leaf, and the American fast-food chains KFC and Burger King. It is their goal that 100% of their cups will be reusable or recyclable by 2015. Marketing strategy is more than planning all actions to promote your brand, product, or service in advance and monitor the results of such efforts to understand what should be maintained and what can be improved.  Over the past few years, the role of brands in marketing has changed very quickly.  Previously, we often use the "brand" that exists with the company name and products, and make them attractive to consumers, also known as "brand polishing." Nhận ngôi sao điểm thưởng cho mỗi chi tiêu tại Starbucks. Lee and Nguyen (2017) conducted a study to examine important product traits in purchasing decisions for American brands versus local fashion brands revealed by Vietnamese consumers.  The finding showed that consumers value subjective standards, and symbolic attributes such as the latest fashion, country of origin, and popular brands.  Even though local businesses are advantages to lower prices, American brands can better compete by actively promoting their brands, offering quality products, and having the right marketing campaign (Lee & Nguyen, 2017).  Indeed, Vietnamese buyers find that foreign brands from developed countries are more attractive, higher quality, and more reputable than local brands (Dao & Heidt, 2017).  However, western companies like Starbucks are facing copyright infringement.  Nguyen states that copyright enforcement in Vietnam has become challenging as the violation of copyright rate is high.  Shopfronts that appear to be rip-offs of famous brands like Starbucks are not challenging to find.  Fake stores like Sunbucks in Ho Chi Minh city or Wumart in Shanghai are examples of violations.  Such lack of brand awareness causes customers are more likely to systematically reprocess information and allow those kinds of unethical businesses to compete unfairly against foreign brands that have been massive investment and effort put into building their brands (Sun, Zheng, Su & Keller, 2017). ... Vietnam and China. Starbucks offers the finest coffees in the world, grown, prepared and served by the finest people. “Vietnam is one of the most dynamic and exciting markets in the world and we are proud to add Vietnam as the 12th market across the China and Asia Pacific region,” said John Culver, president, Starbucks China and Asia Pacific. Competition from local retailers: Competition is considered intense with many well-known coffee domestic brands like Highland coffee that owns 240 stores.Â. Starbucks' mission statement is "to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time," emphasizing direct experience in daily work, life, and entertainment (Starbucks, 2020).Â. Since the beginning, Starbucks has been a different kind of company. According to the General Statistics Office, it exported 1.73 million metric tons of coffee in 2012, and is the world’s biggest exporter of bitter- tasting robusta. Coffee becomes a part of their daily life.  The market for specialty coffee in Vietnam is worth more than $5.9 billion in 2020 (USDA Foreign Agricultural Service, 2019).  That makes Vietnam become an attractive target for global cafe chains.  The domestic coffee market has fierce competition with well-known foreign coffee brands such as Starbucks, Highland Coffee, Gloria Jeans, and Coffee Bean competing against each other and with local chains, such as Phuc Long, Chot Nho Cafe, and Trung Nguyen Coffee.  The five largest coffee chains represent 15.3% of the market share, of which Highlands Coffee takes 7.2%, while Starbucks holds about 3%.  Foreign brands have been struggling to reach this potentially profitable market as local Vietnamese chains offer low prices, adapt more quickly with new trends, and have more significant quantities of stores and perform better than their foreign chains. It would be tourists and guests of the New World Hotel and young Vietnamese, who are seeking to try this internationally-known brand and perhaps to impress others with it, who would also likely to be there as well. In late 2011, the coffee giant also brought out Evolution Fresh, a juice company. Starbucks will seek to profit from surging consumer demand. Some stores even feature shelves lined with books that customers are encouraged to browse including books that inspire and encourage young Vietnamese patrons. According to the company, Starbucks already purchases a “notable amount” of high-quality arabica coffee from Vietnam and are working to buy more. He further added that Starbucks is famous and Vietnamese people want to be seen at popular places, which is very typical for Vietnamese. In order to uphold a sustainable competitive advantage, Starbucks must achieve its value activities in a way difficult for competitors to replicate or imitate. He further added that more than 60 per cent of Vietnam’s population was born after the Vietnam War ended in 1975, and there is a strong demand among youth in Hanoi and Ho Chi Minh City for branded clothing and accessories, regardless that the labels often are fakes, and average annual income is only about $1,500. Members also enjoy complimentary slice of cake on birthday month. The market is heating up due to strong economic growth, especially in the three largest cities in Vietnam. While this is reassuring to some, others remain concerned, especially those who’ve come from areas where large coffee chains have pushed smaller operations out of business. Starbucks is struggling in a coffee market that worth more than $5.9 billion (USDA Foreign Agricultural Service, 2019). Companies that enter the high-class coffee shop market mustn't forget their target customers who are young people with a stable income and high level of education (Ta, 2020). Besides, providing excellent service quality and top quality products, high-end customers appreciate fast service for their busy schedule and quite environment where they can discuss business. Starbucks however declined to elaborate on the number of outlets it plans to open in Vietnam. And they believe in the importance of caring for the planet and encouraging others to do the same. Architect Tran Cao Tho,a 32-year-old architect and his friends sipped their coffees from low, wooden stools on the sidewalk as motorbikes whizzed by and street singers dropped in. Coffee is not just coffee but more a way of life in Vietnam. If you need assistance with writing your essay, our professional essay writing service is here to help! Đăng ký Starbucks Rewards™ ngay hôm nay. Vietnam’s coffee culture stretches back to the late-19th century after France colonized the country. And with every cup, they strive to bring both their heritage and an exceptional experience to life. Who are the patrons who would be willing to wait in long lines for that tall, grande or venti cup at a price substantially more than what they can get on the street? Coffee chains in Vietnam can be divided into three categories base on the income of consumers: low-end, medium-end, and high-end coffee chains.  Vietnam is the second-highest dollar value worth of coffee export in the world, with 3.3 billion total coffee export (Workman, 2020). And their master roasters bring out the balance and rich flavor of the beans through the signature Starbucks Roast. Compared with other Asian markets which Starbucks has recently entered, the Seattle-based company faces a unique scenario in Vietnam, where French-inspired coffee culture rules supreme, two homegrown chains have established presences and family-run sidewalk cafes are as many as noodle shops. The logo is also inspired by the sea, featuring a twin‐tailed siren from Greek mythology. (“Starbucks Coffee Company”) In 1981, Starbucks chairman, president and chief executive officer, Howard Schultz, was drawn into Starbucks from his first cup of Sumatra, and joined Starbucks a year later. And they are honored to be acknowledged for their efforts which earned Starbucks its awards and recognition. They believe that by buying coffee this way, it helps foster a better future for farmers and a more stable climate for the planet. “Starbucks is deeply respectful of Vietnam… He developed Trung Nguyen from a shop he founded as a student into a coffee retailer with more than 3,000 employees. (“Starbucks enters entrenched Vietnam coffee market | SeacoastOnline.com”) Vietnam is the world’s second-largest coffee producer and it has dozens of local chains as well as small coffee shops on nearly every street corner which present a major challenge for Starbucks. Vietnam is also the world’s second-largest exporter of coffee behind Brazil. Even though Starbucks has been very successful internationally, it is facing particular problems in the Vietnam market.Â. Starbucks targets new market, in coffee exporting Laos. Coffee Concepts (Vietnam) Ltd., a Hong Kong Maxim’s Group subsidiary, will operate Starbucks Ho Chi Minh City store in Vietnam, and its first store will be in the city’s business district. Therefore, it is more likely to be profitable to serve this market phase. Thuan Pham, a commercial airline pilot and a Vietnamese-American who now lives in Ho Chi Minh City who goes patronizes Coffee Bean & Tea Leaf in Hanoi expects to be a frequent Starbucks visitor and said he will be surprised if Starbucks doesn’t succeed in Vietnam. They share their customers’ commitment to the environment. Coffee giant Starbucks takes advantage of a fast-growing economy and a middle class growing in Vietnam.  Businesses are built primarily by importing a business model and adjusting a business model to adapt to local conditions (Fischer & Roy, 2019).  Starbucks uses a similar approach to run its business around the world.  Therefore, there is also an integrated strategy for Vietnam.  Starbucks faces new challenges in constantly launching new stores.  Currently, the company has one store for every 1.7 million people in Vietnam, which is much lesser than other Asian countries like Thailand, Philippine, or Singapore.  Vietnamese coffee chains have a better understanding of the domestic market and are rapidly expanding their network in the local market.  The fastest-growing coffee chain is The Coffee House, based in Ho Chi Minh City. It's easy to find a Starbucks cafe almost anywhere in the world, but in … He left Starbucks for a short while to start his own Il Giornale coffeehouses and returned in August 1987 to purchase Starbucks with the help of local investors. The first Starbucks store is opened in District 1, Ho Chi Minh city in January 2013 and after 5 years, Starbucks Vietnam has more than 30 stores in 4 cities Ho Chi Minh City, Ha Noi, Hai Phong and Da Nang. Their healthy foods and snack options which include a wide menu to support vegetarian and vegan lifestyles will also be available. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Back in the 1990s, the growing ranks of … According to research, although many people queued up in southern Ho Chi Minh City for the opening, but the US giant’s coffee may not be to everybody’s taste. A level of value must support the competitive advantage to the customer that is at least compatible to the competitors. (“Starbucks Coffee Company”) Starbucks mission is to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. FILE - This Oct. 27, 2020, file photo shows a sign at a Starbucks Coffee store in south Seattle. Therefore, to be aggressive and thriving in the 21st century, every organization needs to be aware of the critical role that the customer plays and should act as a customer-oriented entity (Talpau & Boscor, 2011).  Customer-oriented companies take customer satisfaction first, and everything else will come from them.  A customer-oriented company focuses on customer's characteristics in designing its marketing techniques and in providing higher values for its customers.  It is critical to learn about, from, and for customers and transfer this knowledge to advance business strategies of motion effectively, create competitive advantage from the value that they generate for their customers to serve better them (Wirtz & Daiser, 2018).  A customer-oriented approach is a key to modern business success. And there is a premium that people are willing to pay for a clean environment, for consistent products and good service. 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