The name evoked the romance of the high seas and the seafaring tradition of the early coffee traders. They also hope to contribute one million volunteer hours each year to their communities by 2015. The chain’s 60 shops across the country serve Vietnamese-style individually brewed cups, along with varieties including Italian espresso and Turkish-style coffees, a mix which Vu expects to sell well in the United States as well. They also have an ongoing relationship with Vietnamese coffee growers. Starbucks is also monitoring Vietnam’s rising coffee demand. They believe that by buying coffee this way, it helps foster a better future for farmers and a more stable climate for the planet. 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. Its first store in the country is located in one of Ho Chi Minh City’s busiest roundabouts and is near to a new Burger King restaurant and Ben Thanh Market which is the center of the city’s tourist trade. Other Consumer Products Coffee and Tea include Whole bean and ground coffee (Starbucks and Seattle’s Best Coffee brands), Starbucks VIA® Ready Brew, Starbucks® Kâ€Cup® portion packs, Tazo® tea filterbags and tea latte concentrates. The face of the country’s coffee culture is changing but back at the busy roundabout, where Cach Mang Thang Tam, Nguyen Trai, and Ly Tu Trong streets meet, one of the local coffee store, Nguyen Phi has no intention of changing his business plan. Renae Cheng Sales & Promotions. Some speculated about how the Starbucks will compete with Trung Nguyen Coffee and Highlands Coffee, a homegrown brand that credits Starbucks as an inspiration. Other internal threats would include the effect of supplier’s power and the buying power of the customer. Starbucks will be seeking to compete with local rivals in a country known for its strong cafe culture. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. To bring people together, inspire change and make a difference in people’s lives are all part of being a good neighbor. One Vietnamese, Nguyen Tien Tam, 35 had been quoted as preferring Vietnamese coffee, which is stronger than Starbucks and that as a Vietnamese, he only love local coffee. Starbucks take a holistic approach to ethically sourcing the highest quality coffee. Starbucks looks forward at growing with Vietnam’s already vibrant coffee industry and making a positive impact in the communities where they operate. According to Sara Senatore, a New York-based analyst at Sanford C. Bernstein & Co, prices may still be less than the U.S. because of lower income and operating costs in Vietnam. But he added that he doesn’t expect to become a regular Starbucks patron because he drinks five or six cups of coffee a day, thus regular visits to Starbucks would be too expensive for him. He’ll keep doing what he does best and his customers will keep coming as well. STARBUCKS’ Entrance into Vietnam (“Starbucks opens first store in coffee-loving Vietnam”) Starbucks opened its first cafe in Vietnam in Ho Chi Minh City as part of its strategy to expand across Asia, and plans to add more shops throughout the country. 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. Marketing 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. Coffee is not just coffee but more a way of life in Vietnam. 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. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Despite this being a more risky investment than those to which Starbucks shareholders are familiar with, the dollar market shares of the company are steadily rising, showing wide support for this move. Study for free with our range of university lectures! 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. (“Starbucks opens chain of raw vegan juice bars”) (“Starbucks opens new blend of juice bars”) (“Starbucks to open first Evolution Fresh juice store – USATODAY.com”) New markets for coffee and healthy beverages are beginning to emerge and that can be retailed in their cafes. Reference this. Starbucks did not explain why it defines the new outlet as a concept store. Well, it has happened – Starbucks has finally. You can view samples of our professional work here. Disclaimer: This work has been submitted by a university student. Some stores even feature shelves lined with books that customers are encouraged to browse including books that inspire and encourage young Vietnamese patrons. 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. If you need assistance with writing your essay, our professional essay writing service is here to help! Starbucks also offers Readyâ€toâ€Drink (RTD) beverages which include Starbucks® bottled Frappuccino® coffee drinks, Starbucks Discoveries® chilled cup coffees, Starbucks Doubleshot® espresso drinks, Starbucks Doubleshot® Energy+Coffee drinks;Seattle’s Best Coffee® Iced Lattes, Starbucks Refreshersâ„¢ beverages, Tazo® bottled iced and juiced teas. There are more than 30 blends and singleâ€origin premium coffees and Handcrafted Beverages which include freshâ€brewed coffee, hot and iced espresso beverages, Frappuccino® coffee and nonâ€coffee blended beverages, smoothies and Tazo® teas. Starbucks coffee may be too expensive for local consumers who need their coffees regularly each day. And Nestle instant coffee which is engineered to suit the Vietnamese palette is sold widely in Vietnamese supermarkets. According to the World Bank website, Vietnam had reached what the World Bank calls lower middle-income status in 2009, with per-capita income having increased more than 10-fold since the ruling Communist Party started market-oriented reforms in 1986. 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 company values its workforce and treats its employers as partners. His newest cafes in Vietnam are in fact reminiscent of Starbucks, with oversized armchairs, contemporary music and a menu offering coffee drinks, smoothies and snacks. Since the beginning, Starbucks has been a different kind of company. 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. Nguyen Duc Hiep, chief architect at Vietnambuilding, said the designers incorporated the exterior brick into the space and used natural-materials such as wood finishes to amplify the atmospheric mood. 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 offers an extensive wide range of exceptional products that customers enjoy in their stores, at home, and on the go. Starbucks’ stability and expansion in Vietnam will be determined by external sources which include potential entrants which may also want to venture into the Vietnamese market, also by internal and external threats which include pre-existing local brands and industrial rivalries and by threats of substitutes whereby another type of beverage or service may replace Starbucks coffee and beverages. He had commented on an email to The Associated Press that Starbucks is looking forward to growing with Vietnam’s already vibrant coffee industry and making a positive impact in the communities where they operate.
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