Tiểu luận cuối kì cho sinh viên năm 2 ngành Kinh doanh thương mại. Write an essay on global strategy of a specific Vietnamese company. Chiến lược toàn cầu của Cà phê Trung Nguyên. Global strategy of Trung Nguyen Coffee.
ĐẠI HỌC UEH TRƯỜNG KINH DOANH KHOA KINH DOANH QUỐC TẾ - MARKETING TIỂU LUẬN BỘ MÔN QUẢN TRỊ CHIẾN LƯỢC TỒN CẦU PHẠM TRANG GIA BẢO TP Hồ Chí Minh, ngày 30 tháng 10 năm 2022 ĐẠI HỌC UEH TRƯỜNG KINH DOANH KHOA KINH DOANH QUỐC TẾ - MARKETING TIỂU LUẬN Mơn học: Quản trị chiến lược tồn cầu Giảng viên: Mã lớp học phần Sinh viên Khóa – Lớp MSSV : : : : : Nguyễn Văn Dũng 22C1BUS50313902 Phạm Trang Gia Bảo Khóa 47 – KMC02 31211027011 TP Hồ Chí Minh, ngày 30 tháng 10 năm 2022 TABLE OF CONTENTS CHAPTER 1: INTRODUCTION .5 I OBJECTIVE OF THE ESSAY .5 II OVERVIEW OF TRUNG NGUYEN COFFEE General information History of formation and development CHAPTER 2: MACRO ENVIRONMENT IN AMERICA - A TARGET MARKET OF TRUNG NGUYEN COFFEE .7 I ECONOMICS .7 II BUSINESS ENVIRONMENT III ATTRACTIVENESS Coffee demand in the US market Ease of doing business 10 Competitive: 10 Risks 10 CHAPTER 3: ONE COMPETITOR OF TRUNG NGUYEN COFFEE IN AMERICA .11 I OVERVIEW OF STARBUCKS 11 II STARBUCKS' COMPETITIVE ADVANTAGES 13 Products are always of high quality 13 Balance between profit and business ethics 13 Global supply chain .13 III COMPARE THE BASIC DIFFERENCES IN DEVELOPMENT ORIENTATION BETWEEN STARBUCKS AND TRUNG NGUYEN COFFEE 13 CHAPTER 4: GLOBAL STRATEGY OF TRUNG NGUYEN COFFEE 14 I GLOBAL AMBITION .14 II GLOBAL POSITIONING 14 III ORGANIZING: 15 IV COMPETITIVE ADVANTAGE OF TRUNG NGUYEN COFFEE IN GLOBAL MARKET .15 The product strength with unique quintessence brings characteristics to Trung Nguyen: 15 The national spirit is a great advantage of Trung Nguyen in the competition with major foreign rivals in the world: .16 CHAPTER 5: ENTRY STRATEGY OF TRUNG NGUYEN COFFEE 16 I CONCEPT OF FRANCHISE: 16 II ABOUT TRUNG NGUYEN FRANCHISE SYSTEM: 16 III THE NEW FRANCHISE MODEL OF TRUNG NGUYEN 17 IV PENETRATE THE US MARKET 18 CHAPTER 1: INTRODUCTION I OBJECTIVE OF THE ESSAY Trung Nguyen Coffee is a miraculous success of branding not only in Vietnam but also in the world Within years, from a small factory in Buon Me Thuot, Trung Nguyen was present in all parts of the country, and more than years later built a plan to develop to foreign markets And now, Trung Nguyen is proud to be a strong brand with more than 3,000 stores in Vietnam and a strong development platform in the US, Japan, China, Singapore, Russia, Korea, This essay was written with the purpose of learning about Trung Nguyen Coffee Company, considering how they work to find the reason they can develop strongly not only in Vietnam but also in the world Analysis of strategies that the company has researched and applies to businesses on the path of market expansion, aiming to learn as well as understand how the company has developed strategies and strategies How to apply to their business From there, there is a general view as well as seeing advantages and disadvantages when bringing those strategies into business II OVERVIEW OF TRUNG NGUYEN COFFEE General information With the birth in mid -1996, Trung Nguyen was a young coffee brand in Vietnam, but quickly created a reputation and became a familiar coffee brand for domestic and foreign consumers Within 10 years, from a small coffee company between Buon Ma Thuot, Trung Nguyen Coffee has become a corporation with member companies: Trung Nguyen Joint Stock Company, Hoa Coffee Joint Stock Company Hoa Tan Trung Nguyen, Trung Nguyen Coffee Co., Ltd., G7 Trading and Service Joint Stock Company, Nam Viet Retail Media Company and Vietnam Global Gateway Joint Venture (VGG) The main industries include: manufacturing, processing, trading of tea and coffee; Franchise and modern distribution and retail services In the future, Trung Nguyen Group will develop with 10 member companies, trading a variety of industries Trung Nguyen has successfully pioneered the application of franchise business model in Vietnam Up to now, Trung Nguyen owns a network of more than 1,000 franchise cafes across Vietnam and abroad stores such as USA, Japan, Singapore, Thailand and China History of formation and development 1996: Chairman Dang Le Nguyen Vu founded Trung Nguyen in Buon Ma Thuot, Vietnam.1998: Trung Nguyen appeared in Ho Chi Minh City with the slogan: "Bringing inspiration, new creativity" 2000: Launching the world market with two franchise stores in Japan and Singapore 2001: Successful franchise in Japan, Singapore Announcing the new slogan “Explore creative inspiration”, Trung Nguyen won the love of consumers across the country 2003: Introduced G7 instant coffee in the “G7 Instant Coffee Festival” at The Independence Palace which attracted thousands of participants 2004: Open Trung Nguyen coffee shop in Japan, a network of 600 cafes in Vietnam, 121 distributors, 7000 sales points and 59,000 retail stores 2006: Investing and developing the largest G7 Mart distribution system in Vietnam and standardizing the domestic franchise system, promoting international franchise development Launching Nam Viet Retail Media Company and Vietnam Global Gateway Joint Venture (VGG) based in Singapore 2010: Trung Nguyen coffee products are exported to over 60 countries around the globe, especially the U.S, Canada, Russia, England, Germany, Japan, China, ASEAN, etc 2012: Trung Nguyen Coffee is the number one brand in Vietnam with the largest number of coffee consumers It is estimated that 11 out of 17 million Vietnamese households purchase Trung Nguyen coffee products 2013: G7’s 10th anniversary, the 3rd year leading in market share and the most favorite brand The “Journey of Great Mindset” spread throughout the country with the “Ideas for Creating the Future” contest 2014: Open franchise coffee store in the U.S 2016: 20th Anniversary of the Journey of Serving Announcing Trung Nguyen Legend as the unified organization and its New Name, Mission, and Vision Launching The Trung Nguyen Legend Café – The Energy Coffee That Changes Life, becoming the largest café chain in Southeast Asia 2017: Opening Shanghai Branch Launching The E-Coffee: The special and specialized café chain – The energy coffee that changes life 2018: The World Coffee Museum has been officially opened in Buon Ma Thuot City Launching the new energy coffee: Trung Nguyen Legend and Trung Nguyen Legend Capsule 2020: Launching Show to experience Coffee Civilizations: Ottoman – Roman – Zen 2021: Celebrating the 25th anniversary of Trung Nguyên Legend (1996 – 2021) The Coffee City project officially inaugurated the model house and utility areas 2022: Successfully launched "Trung Nguyen Coffee World" in Shanghai, China and was praised by many people CHAPTER 2: MACRO ENVIRONMENT IN AMERICA - A TARGET MARKET OF TRUNG NGUYEN COFFEE I ECONOMICS The United States is the largest national economy in the world To illustrate, the country's nominal GDP is estimated at $17.295 billion in 2014, and $63.544 billion in 2020 It is also considered to be one of the countries with the largest GDP of any country which family In those years, the United States was heavily affected by the global economic downturn However, after 2010, the US economy showed signs of recovery For the whole year of 2010, the US economy grew by 2.9%, after a decline of 2.6% in 2009 This is a good sign for countries that want to penetrate the US market Moreover, developed infrastructure, diverse natural resources and high productivity have made the US a strategic market for any foreign investor Trung Nguyen is no exception, the company will easily succeed when choosing the US to expand its chain of larger stores GDP growth rate from 2008 to 2012 (phase entering the US market) (Source: tradingeconomics.com) GDP growth rate from 1960 to 2020 (Source: Solieukinhte.com) Inflation rate: Debelle and Lamont (1996) have shown that inflation rate and price change have a positive and strong relationship Therefore, low inflation in the US will help Trung Nguyen keep coffee prices stabilize to get more loyal customers Moreover, research suggests that the US will be a stable market for any foreign investor to develop business for a long time II BUSINESS ENVIRONMENT The United States is the world's highest coffee consumer According to statistics, the average American person consumes 4.8kg or 646 cups a year (equivalent to 1.8 cups per day) Therefore, every year, the US must import a huge amount of coffee from other countries and territories around the world The US market is the young market, the need for large import and consumption, very suitable for long-term penetration and development Americans use coffee as an important drink in life But besides that, in order to enter the market, it is necessary to face many risks, difficulties, strong competitors, import policies, coffee quality standards, strategies to cope, how to retain customers, making a difference compared to the current competitors, giving Trung Nguyen coffee to have a firm foothold in the coffee market in the US III ATTRACTIVENESS Coffee demand in the US market The US is not only the world's leading economy, but also the world's third largest country in terms of population, after China and India Most Americans have a habit of drinking coffee and consider coffee as a very important drink in daily life The US is one of the largest coffee consumer and importer in the world even in the past or now The US does not grow coffee, so all coffee consumed in the US is imported The country's coffee demand is relatively stable per year at over million tons Top the largest coffee consumer markets in the world (2013) Country Purchase of coffee through retail stores (tons) U.S.A 797,053.6 Brazil 675,839.8 Germany 375,460.9 France 166,435.1 Italy 153,629.1 South Korea 111,905.5 Philippines 110,541.4 Poland 108,280.6 Japan 108,050.7 Russia 107,277.1 (Source: Euromonitor International) Top coffee consuming countries overall in 2022 Country Brazil Germany Italy France United States Columbia Japan Turkey Russia Switzerland Consumption (bag per year) 12,3 million 10.6 million 9.6 million million million 4,86 million million 3,7 million million 2,7 million (Source: coffeeaffection.com) Ease of doing business The US lifting of the economic embargo against Vietnam in 1994 and the signing of the Bilateral Trade Agreement between the two countries in July 2000 created favorable conditions for Vietnamese coffee in general and Trung Nguyen Coffee said exclusively entering the US market Competitive: The United States is an attractive market for any business of any country It can be said that the US market accepts all kinds of goods Therefore, all countries promote the export of their goods to this market if possible Coffee is a commodity that is used a lot by Americans and it is as common a beverage here as tea in Japan On the other hand, in the US, there is also a major coffee trading center of the world, which is the New York coffee trading center Therefore, there were many countries that exported coffee to the US market in the period of 2010, the proportion of US coffee imports is divided as follows: Colombia 17%, Vietnam 15%, Brazil 15%, Guatemala 11 %, Mexico 10%, Indonesia 9%… (Competitive in US market, 2002) Thus, Vietnamese coffee has a big role in the US coffee market Although many countries export coffee to the United States, not all of them compete with each other, often these countries compete with products of the same type Like Vietnam, we not have to compete with all of the above countries but mainly with Indonesia, Brazil and some other African countries with Robusta coffee products Risks ● Trung Nguyen has to confront a famous coffee brand in a foreign land: the king of Starbucks ● The different Western culture makes it difficult to reach and attract local customers 10 ● The business is still new and does not have a strong brand ● Export services are poor and of low quality, while this is an effective competitive weapon for exporters CHAPTER 3: ONE COMPETITOR OF TRUNG NGUYEN COFFEE IN AMERICA The number one competitor of Trung Nguyen coffee in the US market is the king of coffee: Starbucks I OVERVIEW OF STARBUCKS The first Starbucks Coffee store was opened in Seattle, Washington, in March 1971 By the early 1980s, the company had four stores in Seattle, and they could boast of being consistently profitable since the early 1980s since opening The transformation of Starbucks Coffee only really began when Howard Schultz bought Starbucks Coffee in 1987 A man of great energy and ideas, Howard Schultz had the magic to turn Starbucks Coffee from scratch become one of the most expensive brands in the world Under the direction of Howard Schultz, the company had a period of spectacular growth during the following period, Starbucks Coffee by 1998 had over 1,500 stores in North America and the Pacific Rim region, The system continues to expand at an average rate of more than one store per day Revenue in 1997 reached $967 million and profit in 1997 also hit its alltime high: $57.4 million After a difficult period since 2007, Starbucks Coffee has once again shown the strength of a leading brand with the leadership of CEO Howard Schultz along with a series of strong strategic reforms The world's largest coffee shop chain has weathered the storm 11 with first-quarter 2009 revenue of $2.7 billion, net profit of $242 million, an increase of 300% over the same period in 2008 Making Trung Nguyen coffee must be very cautious when deciding to enter the US market - where Starbucks is dominating Up to now, after more than 40 years of establishment, Starbucks Coffee has always been the market leader in retail coffee sales and one of the strongest and most prestigious brands in the US and around the world The growth of Starbucks Coffee is also seen more clearly through the continuous expansion of the market in both quantity and quality Currently, Starbucks Coffee has nearly 20,000 stores in 61 countries around the world with a total of more than 150,000 employees, of which more than 65% of stores are opened in the United States According to the company's statistics, each week Starbucks serves more than 40 million customers, selling more than billion cups of coffee per year This is also the strength of the Starbucks brand that makes Trung Nguyen always wary and considers its biggest competitor (Source: statista.com) II STARBUCKS' COMPETITIVE ADVANTAGES Products are always of high quality 12 Starbucks serves its coffee products with the highest quality Besides, Starbucks also ensures the absolute accuracy of roasting, grinding and coffee making machines In addition, the coffee beans that Starbucks uses are grown to the highest quality standards, using responsible coffee growing principles Balance between profit and business ethics Besides focusing on business to increase profits, Starbucks also focuses on social activities such as environmental protection This brand has made statements about its environmental protection mission that are interested and supported by people as follows: ● Strive to buy, sell and use environmentally friendly products ● Realizing financial responsibility is essential for an environmental future ● Make environmental responsibility a company value ● Encourage all associates to participate in the mission of protecting the environment Global supply chain The global supply chain of Starbucks worldwide There are three places to produce coffee: Latin America, Africa, Asia -Pacific This shows that Starbucks has a solid rear of coffee input, greatly contributing to strengthening the brand III COMPARE THE BASIC DIFFERENCES IN DEVELOPMENT ORIENTATION BETWEEN STARBUCKS AND TRUNG NGUYEN COFFEE Criteria Starbucks Trung Nguyên Brand Positioning - Investing in positioning - Brand positioning with the images is "the third place" Central Highlands style of Vietnam is close Global Positioning - Brand positioning worldwide - Focus on entering new by penetrating and opening a markets in many forms to coffee shop in many countries open brand movements globally Product Orientation - Diversify products by width - Focus on quality - Passionate to find the best source of coffee beans - Light coffee flavor Emphasis of modern 13 - Diversify products in depth - Intense passion and meticulousness for quality - Having good coffee origin and recognized in the country - Focus on traditional culture experience and lifestyle CHAPTER 4: GLOBAL STRATEGY OF TRUNG NGUYEN COFFEE I GLOBAL AMBITION Trung Nguyen wants to expand the market to make a mark on its name and become a global brand to compete with the world, as a potential competitor of the giant in the coffee industry In addition, they also want people to enjoy the real taste of coffee, not coffee-flavored water (currently Trung Nguyen has about 1,000 cafes, each earning 30-50 thousand USD/store) II GLOBAL POSITIONING Constantly looking for partners to build a nationwide franchise system and international market Trung Nguyen Coffee has a specific plan in its strategy to develop and expand to international markets in 2012 with the key markets of the US, China and Singapore The reasons were: ● These are the three gateways of the world ● Having a developed and stable economy ● With the US market, through the position and influence of the US, once Trung Nguyen coffee enters the US market and succeeds in the US, it will be the strongest evidence to help easily open all market doors rest of the world ● With the Chinese market, Trung Nguyen coffee has the advantage of a close location, cultural similarities, a populous market, a young population, and the growing trend of shifting from tea to coffee ● With the Singapore market, which is the gateway of Asia to the world, having a solid foundation in finance, economy, and good technical infrastructure will create opportunities for Trung Nguyen to develop Then expanded to countries such as the EU, Thailand, Japan, etc In 2014, Trung Nguyen coffee and Global Hotels management LLC officially signed a cooperation agreement to bring Trung Nguyen coffee to the Dubai market Trung Nguyen has invested more than 2200 billion VND for modern technology systems and know-how This is a condition for Trung Nguyen to improve quality, output, diversify products, increase productivity to meet business needs in the domestic market and conquer the world market 14 III ORGANIZING: There are more than 2000 employees working and dedicating to Trung Nguyen Group and arranged to work in offices, factories and branches nationwide In addition, Trung Nguyen also indirectly creating jobs, more than 15,000 people across the country were indirectly created jobs through the system of 1000 franchise cafes With the strategy of international reaching and the maxim "Starting creativity", Trung Nguyen Group always needs to add a young, enthusiastic, enthusiastic and creative manner, ready to build Trung Nguyen with us into a mighty economic group of Vietnam In parallel with the organizational renovation, Trung Nguyen reinvested to form a physical coffee ecosystem, a spiritual coffee ecosystem, creating new brands such as Trung Nguyen Legend, E-coffee , new product system energy coffee - coffee changing life, new distribution business model, new projects such as Coffee Village, World Coffee Museum, Along with that, Mr Dang Le Nguyen Vu has implemented the policy of empowering autonomy, mastering attitude, encouraging and motivating associates and managers at all levels in the company to promote the creative spirit of entrepreneurship in a company, avoiding the centrifugal "Employee - servant", promoting the spirit of comprehensive responsibility, justice and discipline in each individual working at the company Pioneering in applying the franchise business model in Vietnam, Trung Nguyen now has a network of nearly 1000 franchised cafes across the country and overseas such as: USA, Japan, Singapore, Thailand, China, Cambodia, Poland, Ukraine Trung Nguyen coffee products and G7 instant coffee have been exported to 43 countries around the world with key markets such as the US and China IV COMPETITIVE ADVANTAGE OF TRUNG NGUYEN COFFEE IN GLOBAL MARKET The product strength with unique quintessence brings characteristics to Trung Nguyen: Extracted directly from clean coffee beans selected from quality raw materials and Robusta coffee beans from Buon Ma Thuot, which is considered the best in the world with a strong palate, full of original coffee flavor Charming delicious coffee beans originating from the land of Jamaica, the famous brand of the world's leading export coffee in Brazil, 15 combining the distinct know-how of the East and the most modern production technology in Vietnam The combination of the most modern technology and the mysterious oriental secrets are unique features only in Trung Nguyen Because Trung Nguyen is technology transferred by leading corporations in the world, it is environmentally friendly The Eastern secret is a blend of rare herbal ingredients, special powers from precious stones and special additives in the roasting process Trung Nguyen has a new perspective on coffee, considering it not only a common drink but a drink for the brain, a source of creative energy for the future; and enjoying coffee is also a culture The national spirit is a great advantage of Trung Nguyen in the competition with major foreign rivals in the world: Expressing the desire that Trung Nguyen should be a place to provide cultural values, a "creative source" environment, a place to direct people to positive things, not just a place to sell coffee Building an image of Trung Nguyen imbued with national culture, from cups, tables and chairs, colors of signs to uniforms, the service of staff, etc Dang Le Nguyen Vu wishes that, when Trung Nguyen comes to the country In any country, the indigenous people there feel like they are resting for 10-15 minutes in a miniature Vietnam, before entering the real Vietnam CHAPTER 5: ENTRY STRATEGY OF TRUNG NGUYEN COFFEE I CONCEPT OF FRANCHISE: Franchising is a business form where the manufacturer or owner of an exclusive product or service transfers to another individual the right to trade that product or service in a specific area The franchising business model has only begun to develop and be successfully applied in the United States This is a cooperative business model: “win-win” Franchisees need the fame of the franchisor to make it easier to run a successful business On the contrary, the franchisor needs the success of the franchisee for the system to grow and thrive II ABOUT TRUNG NGUYEN FRANCHISE SYSTEM: 16 Trung Nguyen Coffee is the first Vietnamese company to apply the franchise business model With dynamism and creativity, Trung Nguyen has built a nationwide franchise system and international markets such as: Japan, Singapore, Thailand, China, Cambodia, USA, Poland, Ukraine … With the form of franchise business, Trung Nguyen coffee products are produced from the best coffee beans of the highlands of Buon Ma Thuot, combined with modern technology and own know-how introduced to the world all consumers in the country and around the world Today, with hundreds of thousands of coffee shops across the country trading Trung Nguyen coffee products, and a nationwide and international franchise system, Trung Nguyen aspires to bring coffee lovers Not only the best cups of coffee but also the most unique coffee culture Coffee lovers coming to Trung Nguyen will experience coffee spaces where they can share and empathize and demonstrate a new coffee spirit III THE NEW FRANCHISE MODEL OF TRUNG NGUYEN Trung Nguyen is a place that provides cultural values, a "creative source" environment, a place that directs people to positive things, not just a place to sell coffee Building an image of Trung Nguyen imbued with national culture, from cups, tables and chairs, colors of signs to uniforms, service behavior of staff, etc Trung Nguyen's goal is that when visiting any country, Indigenous people there get the feeling of resting for 10-15 minutes in a miniature Vietnam, before entering the real Vietnam In addition to the technical aspects of franchising such as consistency, standardization of products, services, furniture, etc., the biggest difference of Trung Nguyen's new generation of franchises is the depth of reward culture coffee, through 17 building a space filled with the spirit and nuances of coffee Starting from the story of the best coffee products in the world because they are processed and selected from many special and famous coffee ingredients in the world such as Brazil (the world's coffee power), Jamaica (world's best Arabica coffee), Ethiopia (the world's original coffee) and the world's best Robusta coffee from Buon Ma Thuot; processed in combination with very special ingredients of Trung Nguyen with typical elements of the East And introduce to the world a traditional way of drinking Vietnamese coffee made with a very unique filter, rich coffee taste, pure and natural coffee aroma and the moment of enjoying every drop of coffee like a coffee setback for contemplation, more creative breakthrough thinking The difference packaged in Trung Nguyen's new generation franchise model is through special coffee products, a space to enjoy coffee and many tools available in the shop to convey a value, a The concept that coffee will become a creative and harmonious second language to connect coffee lovers and enthusiasts around the world At the end of 2008, during the Buon Ma Thuot Coffee Festival, Trung Nguyen officially opened "Trung Nguyen Cafe Village" in Buon Ma Thuot city with a campus of more than 20,000 square meters By September 2022, Trung Nguyen opened the world's first "Trung Nguyen Coffee World" space in Shanghai (China), which deserves to be a typical model of speech of the franchise generation New rights of Trung Nguyen coffee IV PENETRATE THE US MARKET 18 Trung Nguyen Coffee launched its plan to attack the US market just a few days after Starbucks opened its first store in Ho Chi Minh City on February 1, 2013 According to the plan, Trung Nguyen will sell about 15% of the company's shares to finance investment And this story will start with the acquisition of a number of coffee roasting plants in the US, and opening stores in Seattle, New York and Boston right in 2013 That means Trung Nguyen has "declared war" on Starbucks right at the origin of this company, Seattle and then encroaching on New York and Boston - the two largest cities on the East Coast of the United States Trung Nguyen is probably the first Vietnamese enterprise that dares to plan to lead troops to "hit" the lair of competitors Chairman of Trung Nguyen coffee group said that currently customers in the US have not been able to drink "real" coffee experience", as well as their level of coffee enjoyment is "not very high" And Trung Nguyen said that they have a mission to "change this" Also in 2013, Trung Nguyen had two important jobs One is to consider Asean as a domestic market and gradually shift the operating center The second is to begin the process of conquering America Trung Nguyen has to how to convince Americans that they are different and better than Starbucks, from the point of view of coffee, the model to all products and services If we can conquer the US market, we can conquer the world… Trung Nguyen's ambition is quite big, the chairman of Trung Nguyen coffee group said that they will be "replacers" To support the plan to enter the US market, Trung Nguyen will cooperate with experts in the coffee industry with the same vision of global development Investors will be able to buy up to 15% of Trung Nguyen shares and the share level will be increased to 30% within 10 years At this time, Trung Nguyen's biggest competitor is starbucks, in addition to Dunkin Donuts, Caribou, even Mcdonald's and burger king also bring coffee into their shops It can be said that Trung Nguyen has successfully penetrated into the US market: distributed at the largest retailers in the US, increased export volume and always potential However, Trung Nguyen still has many challenges to overcome: the scale of penetration is still small, the competitiveness compared to other competitors in the US is still weak But with these encouraging numbers, Trung Nguyen can still hope for a future with a larger market share in this country 19 REFERENCES Lịch sử phát triển (2022, May 25) Trung Nguyên Legend Retrieved October 30, 2022, from https://trungnguyenlegend.com/lich-su-phat-trien/ Competitive in US market (2002, October 9) Vietnam Embassy in Finland Vietnamin suurlähetystö Helsinki viisumi Retrieved October 30, 2022, from https://vietnamembassy-finland.org/ Starbucks vào Việt Nam (2012, December 3) Brands Vietnam Retrieved October 30, 2022, from https://www.brandsvietnam.com/947-Starbucks-da-vao-Viet-Nam Starbucks revenue worldwide 2021 (2022, July 27) Statista Retrieved October 30, 2022, from https://www.statista.com/statistics/266466/net-revenue-of-the-starbuckscorporation-worldwide/ Trung Nguyen Legend makes global expansion with G7 instant coffee (2019, August 22) Global Coffee Report Retrieved October 30, 2022, from https://www.gcrmag.com/trung-nguyen-legend-makes-global-expansion-with-g7-instantcoffee/ 20 ... renovation, Trung Nguyen reinvested to form a physical coffee ecosystem, a spiritual coffee ecosystem, creating new brands such as Trung Nguyen Legend, E -coffee , new product system energy coffee - coffee. .. small coffee company between Buon Ma Thuot, Trung Nguyen Coffee has become a corporation with member companies: Trung Nguyen Joint Stock Company, Hoa Coffee Joint Stock Company Hoa Tan Trung. .. COMPETITOR OF TRUNG NGUYEN COFFEE IN AMERICA The number one competitor of Trung Nguyen coffee in the US market is the king of coffee: Starbucks I OVERVIEW OF STARBUCKS The first Starbucks Coffee store