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Group please add all the member's info correctly (full name)

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Group please add all the member's info correctly (full name)

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Each idea submitted will earn 2 points, and exceptional ideas will receive 5 points, along with an invitation to provide further explanation.

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Ngô Quốc Huy

Nguyễn Ngọc Phương Trinh

Nguyễn Bùi Song Uyên

Hồ Thị Tú Quyên

Sơn Thị Thu Hiền

Dương Ngọc Kim Thơ

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Trần Thị Kim Thoa

Huỳnh Ngân Trang

Lương Dân Tiến

Nguyễn Đoàn Ngọc Phúc

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1. Entering the Coffee Market

2. Competing with Starbucks

3. Simplifying the Coffee Experience

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1. Menu Innovation:

Constantly introducing new items.

Adapting to local preferences.

2. Marketing and Branding:

Strong global branding.

Emphasis on promotions and loyalty programs.

3. Technology Integration:

Embracing mobile ordering and payment.

Investing in digital platforms.

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Trần Trung Hiếu

Ngô tiến Khải

nguyễn Bá Thời

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It is difficult to say if McDonald’s strategy will be successful without more information on the market and the competition. However, McDonald’s has been a successful fast-food chain for many years, and they have a lot of experience in the industry. They may be able to leverage this experience to compete with Starbucks.

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1. Entering the coffee market through diversification.

2. Adopting a value-focused strategy.

3. Enhancing customer engagement and presence.

4. Streamlining coffee size options.

5. Expanding on a worldwide scale.

6. Transforming the appearance and function of our stores.

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Here are some ways Starbucks should react to McDonald's:

1. Cut prices. This is the time-honored method of competition. As an economist, I love price cutting. As a business consultant, I almost always advise clients to avoid a price war. In the case of Starbucks, I'd ask the company, "Who do you think has the lower cost structure?" Not only should we look at labor costs, but consider this: at 9:00 am, McDonald's has lots of excess capacity. Serving an additional customer is very cheap. At the same time, Starbucks' chairs are full and there's a line at the order counter. Serving additional customers means real estate expansion and hiring more staff.

2. Differentiate the product. In the classic form, the existing customer begins to differentiate, highlighting their product superiority. Of course, Starbucks is already selling a product that it has successfully differentiated. The practical way to do that now, in the face of McDonald's, is a "nobody makes a latte like Starbucks" campaign (using a catchier slogan than I just suggested, but pushing that theme.)

3. Build customer loyalty: offer potential rewards from buying all coffee

4. One possible response is to continue to focus on offering premium products and creating a unique experience for its customers. Another option is to consider lowering prices or offering promotions to compete with McDonald’s.

5. focusing on offering premium products and creating a unique experience for its customers

6. McDonald's has been able to build a strong brand through consistent marketing and advertising efforts, follow the motto of great products with great value, including memorable TV commercials and sponsorships of major sporting events. This has helped the company to establish a strong emotional connection with its customers, which has contributed to its enduring success.

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Immediate Response

1. Menu Innovation:

Introduce new and innovative beverages or food items to meet changing consumer preferences.

Focus on health-conscious offerings or trendy ingredients.

2. Digital Transformation:

Enhance digital capabilities, such as mobile ordering, app features, and loyalty programs.

Leverage technology for personalized customer experiences.

Why these Responses?

1. Consumer-Centric Approach:

Aligning with consumer preferences and behaviors to stay relevant and appealing.

2. Adaptation to Trends:

Responding to current market trends, such as health and sustainability, to meet evolving consumer expectations.

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Starbucks may increase their own marketing efforts, offering better value, or expanding their product offerings to maintain their market position and stay competitive with McDonald’s. This is because McDonald’s is a formidable competitor with a lot of experience in the fast-food industry. Starbucks may need to adapt to the changing market conditions to remain relevant and competitive. However, it is difficult to say exactly how Starbucks will respond without more information on their current strategy and market position.

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1. They plan to open coffee bar across the United States and roll out coffee bars complete with their own baristas.

2. The products tend to be made out of sight from customers.

3. They focus on offering great products at great value.

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2. The success of expanding Starbucks stores in the United States depends on various factors, including market demand, competition, and consumer preferences. A careful analysis of these elements would be essential to determine the strategy's potential success.

Factors such as location selection, evolving consumer trends, and effective marketing strategies will also play crucial roles in the success of Starbucks' expansion. Additionally, monitoring economic conditions and adapting to changing preferences can further enhance the likelihood of success.

Moreover, Starbucks should consider the impact of emerging trends like remote work on customer traffic and adjust its offerings accordingly. Adapting to sustainable and ethical practices might also resonate with environmentally conscious consumers, contributing to the overall success of the expansion. Regularly reassessing and refining the strategy based on market dynamics is key.

Changing the names of coffee sizes could impact customer perception and communication. Success would depend on effective marketing, clear communication of the changes, and whether customers embrace the new terminology without confusion or resistance. Testing the response in specific markets before a nationwide rollout could help gauge success.