Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2023 International Conference on Management Research and Economic Development
Series Vol. 25 , 13 September 2023
Open
Access | Article
An Analysis of Starbucks’ Marketing Strategy and Innovation in the Chinese Market
* Author to whom correspondence should be addressed.
Abstract
As the number of Starbucks shops in China continues to increase, Starbucks’ focus on creating high-end products has neglected some of the basic needs of the consuming public. With negative press, the emergence of more and more peer competitors, and the impact of the new crown pneumonia epidemic, Starbucks should change its current status quo, improve its reputation, make corporate innovations, and change marketing strategies. This paper will analyze Starbucks’ current internal and external environments as well as its marketing strategy using a combination of theory and practice, using SWOT analysis theory and a comparison with competitors such as Luckin Coffee and %Arabica Coffee to elaborate, and give some feasible suggestions for corporate innovation. Through SWOT analysis, Starbucks should adopt a “coffee + ” strategy to bundle sales, increase the variety of coffee derivatives, expand partner brands, and take advantage of the Internet to create a Netflix brand to drive traffic.
Keywords
localized marketing strategies, Starbucks Coffee, corporate innovation, SWOT analysis
References
1. Zhang Xinrui. Analysis of marketing strategy of Starbucks (China) [D]. Jilin University, 2014.
2. Starbucks Q1 FY2023 results: $8.7 billion in revenue, underperforming in China. Sun Meina. www.iyiou.com. 2023.02.03. https://www.iyiou.com/news/202302031041171
3. Xing Yuan, Mou Xiaowei. Exploration of Starbucks marketing strategy [J]. Cooperative Economics and Technology, (14):80-81. (2022).
4. Starbucks China unveils 2025 strategic vision, heavy investment to accelerate growth momentum New growth plan is value-driven, with six engines working in tandem. Starbucks China.2022.09.14. https://www.starbucks.com.cn/about/news/starbucks-strategic-vision/
5. Qi Yujun. Analysis of corporate marketing strategy under the threshold of cross-culture — taking Starbucks as an example [J]. Modern trade industry, 40(06):54-56. (2019).
6. Luo Lin. Research on marketing strategy of Starbucks in China [D]. Southwest Jiaotong University, 2015.
7. Diao Lei. Research on the marketing strategy of “coffee shop + ” innovative experience space [D]. Guizhou University, 2017.
8. Li Wanting. Research on localized marketing strategies of multinational corporations in the Chinese market: the case of Starbucks [J]. Modern Marketing (Late Edition) (2), 36-38. (2022).
9. Wei, Siyu. Analysis of marketing innovation under the new retail mode-taking “Luckin coffee” as an example. In E3S Web of Conferences (Vol. 235, p. 01074). EDP Sciences. (2021).
10. Cavusoglu, H., Cavusoglu, H., & Raghunathan, S. Value of and interaction between production postponement and information sharing strategies for supply chain firms. Production and Operations Management, 21(3), 470-488. (2012).
11. Kim M, Chai S. The impact of supplier innovativeness, information sharing and strategic sourcing on improving supply chain agility: Global supply chain perspective Int. J. Prod. Econ. 187 42–52. (2017).
12. Aprilia A, Laili F, Setyowati P B, et al. The effect of supplier innovation on supply chain agility: Evidence from coffee shops in Malang area. In IOP Conference Series: Earth and Environmental Science (Vol. 733, No. 1, p.012059). IOP Publishing. (2021, April).
Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License. Authors who publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See Open Access Instruction).
- Volume Title
- Proceedings of the 2023 International Conference on Management Research and Economic Development
- ISBN (Print)
- 978-1-915371-93-5
- ISBN (Online)
- 978-1-915371-94-2
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/25/20230470
- Copyright
- 13 September 2023
- 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