The Luckin coffee chain is referred to a highly popular coffee chain which had been established in Beijing, China in October 2017. Within a very short period of time the mentioned organization has gained popularity both in its origin country as well as other countries of the world. Apart from establishing its business in majority of the developed country, the management of Luckin has targeted the Middle Eastern countries to be one of the most effective markets to establish its business. Especially when the organization arrived in Jordan, it experienced massive growth, by managing to close a $200 million fund, which helped its valuation to reach $1 billion. This efficient decision making was possible for appropriate analysis of both the macro as well as micro environment of the Jordanian food and beverage industry. My team mates and I had delivered a presentation on the market analysis and market strategies of the mentioned brand. In this report, I will discuss about my role in this process. Along with this, I will also reflect on the theories used in the presentation made by our team
My role in this group
I was one of the team members in the group. The role of all the team member of our team was to act and perform in a way that can lead to the success of our project. Our team was comprised of one team leader and 5 team members. The team leader used to ensure smooth and effective operations of the team. My chief roles and responsibilities as a team member in our group included:
Possessing a clear and concise understanding of the purpose as well as objective of the project
To ensure an appropriate balance between the project as well as the non-project work
To work up to timescales along with within the cost constraints
To deliver an regular report of progress against the plan
To produce the agreed specifications
Ito identify the issues faced by any off the team member
To maintain the unity o the team through group discussion and effective understanding
T contribute towards the successful communication
To contribute towards the positive motivation
To motivate other team members in order to enhance their performance
My contribution in this group
The whole project was divided by the assessor to each of the team members. In this project my contribution was to conduct and present an effective analysis of the key competitors and market share of the popular coffee shop chain present in Jordan. I was also given the task of analyzing the strategies owned by the popular coffee chains. Through my research, I listed the top five coffee shop chain in Jordan in terms of revenue. While conducting the research I found that though Luckin is still not within the top 5 coffee shops, its increasing revenue will soon lead it to enlist its name in the list. In my slide, I made a table where I listed the name of the coffee shops and then the percentage of the respondents side by side. In the second table, I picked up top 3 coffee shop chains and then added the chief market strategies followed by the same by its side.
Reflection on theories
The chief theories used by us in order to analyze the market as well as the strategies taken by the organization include the PESTLE Analysis theory for macro environmental analysis and the porters five theory for the micro environmental analysis. According to Aithal, (2016), it is highly crucial for an organization to understand the political, economic, social, technological, legal and environmental aspects of a country for determining its potential of enhancing the revenue of the organization. It also helps the manners of a company to understand potential benefits as well as drawbacks the company might face in the country. From the PESTLE analysis, we concluded that in spite of increment in inflation by 3.7 percent, the country has high potential to enhance the profit of the Luckin organization by a commendable amount in near future.
When it comes to the Porter’s five forces, it is considered to be simple yet powerful tool for understanding the competitiveness of the business environment along with identifying the potential profitability of the strategy. In prevent the company to take wrong step which can hamper its productivity and revenue (Fuller et al., 2017). The micro environment of the organization was found to quite competitive due to increasing emergence of number of local as well as international brand in the mentioned nation.
Apart from this, our team also conducted a brief analysis of the key competitors and market share of 5 top organizations in UK in order to understand the current market position of the Luckin coffee shop in Jordan (Kalyanaraman, Anouncia & Balasubramanian, 2018). Along with this, the strategies undertaken by the three top coffee shop chains in the mentioned nation have also been analyzed. Strategies of its competitor will not only help the management of the Luckin to delay with the high amount of competition but will also enable the country to modify its own strategies so that competitive advantage can be gained (Fuller et al., 2017).
In order to gain a more specific idea of the position of the organization in the food and beverage industry of Jordan, we had conducted a positioning map. The competitive advantage of the Luckin organization has also been evaluated through our presentation. Finally a brief recommendation for the enhancement of market position as well as market value of the organization has been provided.
From the feedback obtained from the research, our team was able to understand which points needs more definition and which sections of the report has been done effectively. For instance, lack of citation can be considered as one of the chief issues that we will definitely keep in mind onwards. Along with this, it was also crucial for us to enhance the porter’s five forces section so that a more detailed understanding of the treats and benefits faced by the company can be gained. Another thing that we have missed includes justification of the chosen area for development. Lack of justification of the chosen area has reduced the validity of our report. This section is particularly need to make the reader aware of the benefits an organization has obtained by selecting the area for establishment and expansion. In future, I as a team member will defiantly keep the mentioned factors in mind.
Evaluation of the complex issues faced
While conducting the research, we had faced quite a few issues that have hampered out potential to develop a more appropriate and well structured power point. Lack of experience and a limited amount of time can be considered as two of the major factors. When it comes to me, while conducting the research, I had to go though a good number of documents and scholarly articles. Lack of experience along with excessive time taken on each document had made it difficult foe me to go through a good number of documents. Not only this, I latter discovered that inclusion of other marketing theories like Ansoff Matrix, SWOT analysis an stakeholder mapping could have enhanced the quality of the report.
Strategies for orchestrate the effective utilisation of organisational resources, systems and processes
Data collection was the most essential part of the development process of the presentation. Our first priority was to ensure that the resources of the data used in the presentation are authentic and evident. In order to do so, we have initially chosen a huge number of online resources including online official websites of Luckin Jordon, the market research report of beverage and retail industry, articles of current competitive market and similar informative resources. With this regards it has to be also mentioned that both qualitative and quantitative data has been collected from the chosen resources. From the declared data collection method it is also clear that the data collection method was completely dependent on the secondary data collection. After the data collection formulating the structure of the presentation was another challenge, where the collected data had to be presented in very specific, measurable, realistic and authentic way (Cameron & Green, 2015). Coordination and cooperation is the key of the making the presentation more comprehensive and flawless. For these I have came to a decision that we should fist segregate the information regarding certain discussion points such as strength of the organisation, opportunity, Market competition, product mapping and others.
In order to segregate the information into different part we have decided that each member of our group would take the responsibility to develop the content for certain slides of the presentation. It has to be mentioned that, the team work and cooperative behaviour was our only strength to make the most effective decisions in various phase of the presentation development period. Another systematic data presentation method were proposed by me, where I proposed that after developing each slides by individual group member, we have to discuss the progress within ourselves. The purpose of this system is, it can make the content of the presentation more synchronised with rational flow of information. Forming the boundaries was another crucial part where, we had to exclude some of the information to maintain the relevancy and integrity within the information flow. For this a list of exclusion criteria was developed by group discussion. It had been decided that each member had to consider that list of exclusion criteria while developing the respective slides. Apart from that, to test the clarity and acceptability of the developed slides, each slide was reviewed by another team member for finding further scope of improvement, in terms of authenticity, attractiveness, relevancy and others.
What could have been better?
Every group-work has three major features to consider namely the strength, weakness and opportunities to improve (Fuller et al., 2017). The purpose of the presentation was to present a report on the market analysis and recommendation for Luckin for the market of Jordon. However, after collecting the feedback from the assessor regarding the presentation, it can be said there are some major and minor issues in the presentation, that will need some sincere alteration. As per the assessor feedback, it has been found that the executive summary was not informative enough. As per the definition, the executive summary should have all the necessary part of a report considering background, purpose, method and findings. However, the presentation currently does not have any executive summary. Apart from that, it has been also mentioned in the feedback that the PESTEL could be more specific to the coffee industry and could be more informative. It has been also mentioned that the pestle should reflect the impact of the components of the purchasing behaviour of the potential buyers. The porters five force should be linked with the pastel analysis when possible. The feedback of the assessor also indicates that the presentation does not have any proper justification for choosing a particular target market. Another major issue that has been found by the assessor is the lack of references. References make a research more authentic and evident (Kalyanaraman, Anouncia & Balasubramanian, 2018). However, lack of reference has made this presentation less evident and less valid. The assessor suggested that breaking up the content and adding more relevant diagrams into it could make the presentation more informative and attractive.
Recommendation for improvement
From the above discussion regarding the major and minor faults in the presentation on the marketing strategy of Luckin, it has been found some strategic improvement of data analysis and presentation can enhance the total quality of the presentation in terms of authenticity, viability, visibility and specificity. The major changes that are required in this presentation are insertion of a slide named executive summary and incorporation of in-text citation from various authentic resources. To develop the executive summary the content of the whole paper should be summarised while keeping all the necessary points and outline of the structure within it. As per the definition, the executive summary should have all the necessary part of a report considering background, purpose, method and findings (Kalyanaraman, Anouncia & Balasubramanian, 2018). Incorporation of executive summary should be done by group discussion. The in-text citation can be added by any of our member who is aware of all the resources and their implications. We have to analyse the PESTEL and find the impact of those points of the consumer choice and purchasing behaviour. To align the points in porters five force with the PESTEL we have to research the cause an effect properties of market competition and its components. We have to incorporate some additional slides to present the content more clearly and separately. Among these slides, the justifications of choosing the particular marketing strategies have to be incorporated with proper in-text citation. After making changes, we should review the whole paper by ourselves to ensure that all the feedback points are successfully utilised to make the alteration in the presentation. Coordination and cooperation is the key of the making the presentation more comprehensive and flawless.
Conclusion
From the above discussion, it can be concluded that group-work is a major attribute of developing any quality presentation with specific, authentic, understandable presentation. This presentation was developed by the peer group, where each of the members had some significant roles and responsibilities. Similar to the other group members, I also had some major contribution, in terms of choosing strategies for coordination and presenting the content in an attractive way. Furthermore, it can be said that both porters five force and PESTEL were very helpful to analyse the market and to formulate the optimum strategy for Luckin in Jordon market. It has been also found that this group-work has three major features to consider namely the strength, weakness and opportunities to improve. after collecting the feedback from the assessor regarding the presentation, it can be said there are some major and minor issues in the presentation, that will need some sincere alteration. Incorporating citations, informative alignment, incorporation of diagrams, distribution of content are the major areas where the changes will be required as per the assessor’s feedback. Moreover, it can be concluded that some strategic improvement of data analysis and presentation can enhance the total quality of the presentation in terms of authenticity, viability, visibility and specificity. Besides, the changes required for the final solution should be done by group discussion.
References:
Aithal, P. S. (2016). Study on ABCD analysis technique for business models, business strategies, operating concepts & business systems. International Journal in Management and Social Science, 4(1).
Cameron, E., & Green, M. (2015). Making sense of change management: A complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers.
Fuller, M. A., Valacich, J. S., George, J. F., & Schneider, C. (2017). Information Systems Project Management: A Process and Team Approach, Edition 1.1. Prospect Press.
Kalyanaraman, P., Anouncia, S. M., & Balasubramanian, V. (2018). An Investigation on E-Learning Tools and Techniques Towards Effective Knowledge Management. In Knowledge Computing and its Applications (pp. 335-346). Springer, Singapore
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