Question

Identify three main factors/reasons that make china an attractive market for Starbucks.

Identify three main factors/reasons that make china an attractive market for Starbucks.

Homework Answers

Answer #1

The internationalization strategy for Starbucks is to conduct market research. Starbuck’s strategic decision to enter a foreign market is purely based on market research. Starbuck’s market research on the Chinese market indicated the below prominent factors for Starbucks to enter the Chinese market:

  • The attributes of the People’s Republic of China was identified with the help of the extensive market research. The team found that the middle class of China has readily accepted the Western culture in contrast to their orthodox culture. Additionally, the market research identified that the consumers in the Chinese market purchased luxury goods to maintain their high lifestyles.
  • Capitalism in the People’s Republic of China provides great support for their citizens for maintaining a high quality lifestyle. This is apparent in certain cities wherein the government supports the citizen’s purchase of the luxury goods.
  • The market research identified that the Chinese market is not one homogenous market. Hence, Starbucks caters to the different markets (heterogeneous) by providing products as per the different customer preferences.
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