Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 60 , 05 January 2024
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A Study on Marketing Strategies of Consumer Psychology and Behavior: The Case of Luckin Coffee
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Abstract
This research takes the Chinese coffee chain brand Luckin as an example to explore the impact of consumer psychology and behavior on marketing strategies. It studies how Luckin, a coffee brand founded in 2017, has made more than 10,000 stores throughout the country in a short period and can stand out from the competition with international coffee chains such as Starbucks, Costa, and so on. This paper will generally explain the critical attributes of consumer psychology and consumer behavior in marketing. The 7Ps of the marketing mix (product, price, promotion, place, people, processes, physical evidence) will be used for the main analysis and discussion to reveal how consumer needs, psychological appeals, and behavioral habits play a role in the coffee marketing elements. Moreover, using the data collected from the questionnaire, Luckin Coffee is evaluated based on the current situation, and through the feedback of the data, it is suggested that some aspects can be improved in terms of marketing.
Keywords
consumer psychology, consumer behavior, marketing strategy, the 7Ps of the marketing mix
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-211-4
- ISBN (Online)
- 978-1-83558-212-1
- Published Date
- 05 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/60/20231177
- Copyright
- 05 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited