Summary of ☕️ EL SECRETO DE STARBUCKS - Estrategias de éxito Y supervivencia

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In this video, Starbucks CEO Howard Schultz discusses the company's 10-year success story and how its coffee products have become a part of global culture. The video also covers Starbucks' business model and how it has managed to remain successful during the pandemic. Starbucks has been successful in recent years by expanding products and sources of revenue while maintaining tight control over its intellectual property. The company has also been successful in gamifying its customer experience and using artificial intelligence to improve operations and the customer experience.

• 00:00:00 In this YouTube video, Starbucks CEO Howard Schultz discusses the company's 10-year success story and how its coffee products have become a part of global culture. The video also covers Starbucks' business model and how it has managed to remain successful during the pandemic.
• 00:05:00 Starbucks is a well-known coffee shop chain with a strong following. The video discusses how Starbucks manages to maintain its dominance in the market by following a few key strategies. First, Starbucks focuses on creating a consistent brand experience across its locations. Second, it maintains tight control over its intellectual property (IP), which allows it to maintain a high degree of control over its product quality and design. Third, it relies on franchising to allow independent businesses to operate under the Starbucks brand. These strategies have helped the chain grow rapidly and achieve high profitability. However, saturation of the market and the high cost of entry are likely to limit Starbucks' growth in the future.
• 00:10:00 Starbucks has been successful in recent years by expanding products and sources of revenue while historically, the majority of its income comes from coffee sales in its stores. This generation of income comes from various sources, such as partnerships with PepsiCo, the distributor of Pepsi, that have been in place for over 20 years. However, it was not until 2016 that they began to produce more variety of products, such as frappuccino coffee drinks, refreshments, and other products more varied than in the past. Another recent partnership has been with Nestlé, in which Starbucks ceded its trademark rights to Nestlé in exchange for payments of royalties. This agreement generated $7 billion in profits for Starbucks in 2018. These new sources of income have allowed Starbucks to have more liquidity and navigate better the pandemic. This strategy, of diversifying sources of income instead of cannibalizing sales, has been successful each year, resulting in an addition of $130 million to Starbucks' annual profits. This strategy, of using mobile and rewards programs, is simply one of many strategies that has worked incredibly well for Starbucks. It is focused on increasing the frequency of customer purchases, which is important given the population of China and the world's second-largest market for luxury goods. If we consider that
• 00:15:00 Starbucks has its own gift cards, which have been very popular in the US. Half of all payments at Starbucks are now made through the company's mobile app. This payment system is a win-win for Starbucks and its customers, as it provides discounts and bonuses for regular Starbucks customers who use the app to pay for future purchases. The app also provides Starbucks with valuable information about its customers' tastes and preferences. One of Starbucks' successful marketing strategies is its focus on gamification. This strategy produces a similar experience to that of a game, and one of the company's curious discoveries in its recent shareholder call was that its sales through digital channels had grown thanks to its artificial intelligence (AI)-powered deep blue machine learning system. Starbucks is able to send recommendations to its customers based on their tastes and preferences, and can even send alerts to them when they are nearby.
• 00:20:00 In this video, Starbucks CEO Kevin Johnson explains how the company uses artificial intelligence (AI) to improve operations and customer experience. Among other things, Johnson explains the company's aspiration to become world leaders in AI use. He also provides insight into the company's history and current strategy. This video is followed by a discussion of Starbucks' business model and its resilience in the face of negative industry trends.