INSTITUTE OF INTERNATIONAL TRAINING

THUONG MAI UNIVERSITY

DISCUSSION

COURSE: Commercial Monitoring

TOPIC: Commercial monitoring process of a company

LECTURER : Professor Hamadou Sanoussi

CLASS: CN18.MAR.DB

GROUP : 04
No Name ID Evaluation group

14 LE THI NGOC ANH 20K640021

9 LE THI HUYEN ANH 19K640010

11 LE DUY DUONG 21K640024

44 VU THI HUYEN TRANG 21K640109

46 VU DINH TRUNG 21K640169

A. COMMERCIAL MONITORING PROCESS
STRENGTH WEAKNESS
Strong Brand Competition
Premium Experience Cultural Differences
Store Locations Price Sensitivity
Quality Products

OPPORTUNITY THREAT
Market Growth Regulatory Challenges Local
Menu Localization Competition
Digital Innovation Changing Tastes
Sustainability Economic Factors
Step 1: Define subject and Information needs
Certainly, here's a SWOT analysis of Starbucks in Vietnam:
- Strengths:
Strong Brand: Starbucks is a globally recognized and respected coffee brand,
which attracts a dedicated customer base in Vietnam.
Premium Experience: Starbucks offers a premium coffee experience with a diverse
menu, creating a unique coffee culture.
Store Locations: Starbucks has strategically located stores in major Vietnamese
cities, attracting both locals and tourists.
Quality Products: Starbucks maintains its high-quality standards for coffee and
food products.
- Weaknesses:
Competition: The Vietnamese coffee market is highly competitive with numerous
local coffee shops and international chains.
Price Sensitivity: Starbucks' premium pricing may deter price-sensitive customers
who have access to more affordable local alternatives.
Cultural Differences: Adapting to local tastes and preferences can be challenging,
as Vietnamese coffee culture is distinct.
- Opportunities:
Market Growth: Vietnam's coffee market continues to grow, providing
opportunities for expansion and increased market share.
Menu Localization: Customizing the menu to include local favorites and
introducing new, culturally relevant products.
Digital Innovation: Leveraging technology for mobile ordering, delivery, and
loyalty programs to cater to tech-savvy Vietnamese consumers.
Sustainability: Emphasizing eco-friendly practices and socially responsible
initiatives to align with Vietnam's growing environmental awareness.
- Threats:
Economic Factors: Economic downturns can affect consumer spending on
premium coffee products.
Changing Tastes: Evolving consumer preferences and shifts in coffee culture could
impact Starbucks' offerings.
Local Competition: Strong local coffee chains and independent coffee shops pose
a significant competitive threat.
Regulatory Challenges: Adhering to local regulations and policies can be complex
in a foreign market. Keep in mind that the success of Starbucks in Vietnam
depends on its ability to adapt to the local market and competition while
maintaining the core strengths of its brand and quality products.
Subject: Develop and expand business models in potential cities in Vietnam
such as Da Nang, Quang Ninh , Khanh Hoa,…
Information needs:
Competitors:
The three big companies considered to be Starbuck's top competitors are
Highland Coffee, Phuc Long and The Coffee House.
Highland Coffee's Business Strategy: change menu, change brand positioning to
expand customers, targets and increase revenue.
The Coffee House's business strategy: with a "customer-centric" policy, they focus
on building a modern and customer-friendly brand
Phuc Long's business strategy: this brand positions itself with the mid-range
customer segment - office workers who are "connoisseurs" of coffee and tea, who
have a stable income,
Market fluctuations:
Competition as well as the appearance and growth of other competitors. Starbucks
operates in a competitive coffee industry with many other major brands such as
Costa Coffee, Dunkin' Donuts and McDonald's. Small street coffee shops and local
shops also play a role in competition. This competition could affect Starbucks'
sales and profits.
Changes in customer preferences and tastes. Changing consumer norms could
affect Starbucks sales. For example, coffee drinking preferences may change to a
preference for decaf or more functional beverages.
Economic motivation. Global and local market fluctuations, such as inflation,
foreign exchange rate fluctuations and financial instability, can affect consumer
spending. As consumption declines, consumers may limit their purchases of
expensive Starbucks coffee drinks.
Changes in government regulations and policies. Changes in health and food
safety regulations, anti-lockdown measures and tax policies could affect Starbucks'
business operations and profits.
Foreign exchange
Revenue and Cost Impact: Starbucks generates revenue in various currencies, but
its financial statements are reported in U.S. dollars. Exchange rate fluctuations can
impact the translation of foreign revenue into U.S. dollars, affecting reported
financial performance.
Transaction Exposure: When Starbucks conducts business transactions, such as
purchasing coffee beans or other supplies, in foreign currencies, changes in
exchange rates can affect the costs and profitability of these transactions.
Economic and Political Factors: Economic and political events in countries where
Starbucks operates can lead to currency devaluation, which can impact the value
of the company's assets, liabilities, and profits.
Hedging Strategies: Starbucks may use financial instruments like forward
contracts or options to hedge against adverse currency movements and minimize
the impact of foreign exchange risks.
Competitive Pricing: Currency fluctuations can influence the pricing of Starbucks
products in different markets, affecting competitiveness and consumer demand.
Supply Chain Risks: Starbucks sources coffee beans from various countries.
Currency fluctuations can impact the cost of sourcing these raw materials.
Step 2: Identify sources and collect information
- Formal sources:
Media: Collect and analyze customer reviews from various platforms.Look for
recurring themes and specific feedback regarding:
+ Quality of coffee and food products
+ Service quality and friendliness of staff
+ Cleanliness and atmosphere of Starbucks locations
+ Speed and accuracy of orders
Satisfaction scores: keep an eye on customer satisfaction scores such as: measures
of customer loyalty and willingness to recommend Starbucks to others, quantifies
overall satisfaction with starbucks’ products and services
Google alert: This is the optimal tool to find basic information about Starbucks,
the global beverage market, and different regions
-Use sentiment analysis tools to evaluate the overall sentiment in customer
reviews. Track changes in sentiment over time to identify improvements and
concerns
Public events: research upcoming events on social media and local event listings
or openings in your area. Engage with participates: strike up conversations with
event attendees, politely ask questions about the company its products,initiatives
and any specific information they are interested in . Take photos or videos to
document the event and any relevant aspects of Starbucks’s presence.
=>This is a great way for Starbuck to collect a lot of information about potential
customers, find information about new customer needs such as tastes, trends,... to
develop products and make changes. appropriate changes for each target customer
Informal sources
Investigations:
• Googleform: Use google form to survey the market so that you can evaluate and
measure the fluctuations and risks Starbuck will face at the time and in the future.
• Evaluation form: at Starbucks stores, after enjoying a drink, customers are
provided with evaluation forms containing questions about satisfaction level,
service quality and drink quality... This is Traditional way of collecting
information, getting the fastest response right at the time of service, Google form
also helps Starbuck shorten survey time and resolve problems immediately.
Observations:
Visiting Starbucks stores and observing customer traffic , service quality, and store
conditions in your loavl area can provide on the ground insights
Social Media: Twitter,Facbook,Ins often feature discussions , reviews and
comments about starbucks .Monitoring these social media channels can provide
real time feedback and opinion
Internal (employees reviews)
Wesites likes Glassdoor feature employee reviews and forums where current and
former Starbucks employees share insights into the company’s work culture , job
satisfacyion, and operational practices
External environment: collect information about customers, suppliers, competitors,
and partners to have the most comprehensive view in business orientation and
developing short-term and long-term strategies,
Company visit: find information about partners and suppliers, learn how they
operate and develop business campaigns in the face of world market fluctuations
and possible risks.