For Starbucks, gaining access to local market knowledge is the main advantage of entering new markets like Japan and China via a joint venture.
After concentrating solely on the North American market for a considerable amount of time, Starbucks decided to branch out internationally.
A joint venture in Japan was Starbucks' first international expansion outside of the United States and Canada. Sazaby, Inc., owners of upmarket retail and restaurant businesses, was contacted by Starbucks. The 50/50 agreement was reached after carefully weighing Starbucks' and Sazaby's shared values, cultures, and community-development objectives. On the board of directors of the recently established Starbucks Coffee Japan, the two businesses were equally represented. Starbucks Coffee Japan achieved profitability more than two years before schedule in the fiscal year 2000. Starbucks has also faced many problems while entering Chinese market mainly due to licensing.
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Target Market
- Vast number of people or small group that is the focus of an organization's marketing efforts
Marketing - Seeks to develop satisfying exchanges from which both customers and marketers benefit
Customers - The focal point of all marketing activities
Answer: Limited Liability Partnership
