Starbucks International Marketing Plan for Vietnam

Abstract

This paper will present an international marketing plan for Starbucks’ entry into the Vietnamese market, concerning the exploitation of the country’s vibrant coffee culture and increasing purchasing power of the middle class. From the detailed SWOT analysis, it can be highlighted that in trying to seize immense opportunities in the global market, the strength of Starbucks as a brand serving over 20,000 product offerings is well matched with weaknesses revolving around blowback from local competitors and economic shifts. This will be achieved through the STP framework that pinpoints young professionals and city-dwellers as the market segment of concentration while positioning Starbucks as a premium brand that offers local coffee experiences. The following are discussed within the context of Marketing Mix (4Ps) localization strategies on products, graded pricing, and place, as well as impactful digital marketing and influencer partnerships. Moreover, the paper presents a detailed implementation plan and the breakdown of a budget for its successful entry into the market. Overall, with this great economy of Vietnam and its strong coffee culture, long term growth and brand success are written in the region for Starbucks.