A market strategy analysis of Luckin Coffee

Abstract

This paper takes Luckin Coffee as the research object. The relevant background of China's freshly ground coffee market was introduced, and it was determined that the market still has a huge space for development. Then, collect a lot of official information to summarize Luckin Coffee's marketing strategy. Through relevant analysis, this paper finds that the market environment of Luckin coffee company is relatively healthy, which is more conducive to its development. And because of Luckin's entry into the freshly ground coffee market, the entry barrier has also been raised. However, Luckin Coffee still faces fierce competition in the substitute industry, especially from the Chinese tea beverage market. So in order for Luckin to solidify its position in China's freshly ground coffee market, Luckin should improve its existing marketing strategy. In this study, I suggest that Luckin should cooperate with popular IPs to create themed coffee shops; Merging independent tea brands with Luckin Coffee; tell the corporate stories to build brand image and separate the coffee culture; establish a membership growth system for stimulating consumption; open more types of stores to cover a large area of market demand and provide a personalized package to stimulate consumption.