Discuss How Luckin Coffee Uses Unique Marketing Strategies to Satisfy Consumers' Needs and Desires in a Highly Homogenized Market

Abstract

In a fast-paced era, life and work are relatively busy. The emergence of various products makes the market competition increasingly fierce. Especially in the first-tier cities, such as Beijing, Shanghai, Guangzhou, etc., most people's lives are two points and one line type, every day running between home and the company or home and school, there is not much time to stop and rest or social. In such a busy and exhausting life, people tend to feel tired and sleepy, so there is a need to have coffee or tea products to help refresh. However, most coffee shops are primarily recreational and require long waiting times for products to be prepared, so many customers have special needs that cannot be catered for. Luckin has capitalized on this by targeting a more convenient and rapid "new retail" experience and has gained a lot of sales. This paper focuses on the questionnaire survey and combines the 4P theory to analyze how Luckin uses product, price, place, and promotion strategies to satisfy consumers' needs. Luckin Coffee's marketing ideas can provide a particular reference for other enterprises.