MIXUE ยอดขายกว่า 7 หมื่นล้าน เพราะเน้นขายขาดทุน

NopPongsatorn

15 Jan 202417:17

Summary

TLDRThe video script tells the story of the meteoric rise of a frozen dessert brand in Thailand, which expanded globally to 20,000 branches, becoming one of the world's most widespread franchises, second only to KFC and Starbucks. The founder's journey from a small ice drink stall to a global phenomenon is explored, highlighting the strategic decision-making and business acumen that led to the brand's success. The narrative also delves into the importance of planning and strategy in business growth, using the brand's case study to illustrate the power of innovative marketing and supply chain management in achieving a competitive edge.

Takeaways

🌟 A popular frozen dessert brand from Thailand has expanded globally, with 20,000 branches, making it one of the top 5 franchise brands in the world.
📈 The brand's success is rivaled only by giants like KFC and Starbucks, highlighting the rapid growth and market penetration achieved by the Thai brand.
💡 The founder's initial business venture was not the sweet shop brand but a small capital investment in a drink stall, showing a humble start to a successful business.
🏢 The brand's growth strategy involved a unique approach to franchising, which allowed for rapid expansion and global recognition.
💰 A key business tactic was selling a popular product, ice cream soft serve, at a loss-leading price to attract customers and create a buzz for the brand.
🚀 The decision to franchise in 2007 was a pivotal moment, leading to an influx of capital and the ability to negotiate better prices with suppliers, enhancing the brand's supply chain.
🛒 The brand's economic strategy of 'selling products with no profit' was a calculated move to gain market share and establish a strong consumer base.
📊 The case study illustrates the importance of strategic planning and adaptability in business, emphasizing that success is not achieved by mere hard work but by smart decision-making.
💼 The discussion encourages aspiring entrepreneurs to think critically about business models, market opportunities, and the potential impact of their decisions, mirroring real-world business school case discussions.
🌐 The brand's international success serves as an inspiration for other businesses, demonstrating that with the right strategy, even a small local business can achieve global acclaim.

Q & A

What is the Thai brand that has expanded globally with over 20,000 branches?
-The Thai brand mentioned is Miia, which has grown to become one of the top five brands with the most branches in the world, second only to KFC and Starbucks.
Who is the founder of the brand Miia and what was his initial business?
-The founder of Miia is a man named Zhang Hong, who started his business by borrowing money from his family to open his first stall selling cold drinks by the roadside.
What was the initial challenge faced by Zhang Hong's first business?
-Zhang Hong's first business faced the challenge of intense competition and lack of a unique selling proposition, which led to his business struggling and eventually closing down three times within a year.
How did Miia differentiate itself in the market when it was reestablished in 1999?
-Miia differentiated itself by focusing on selling soft-serve ice cream, which was a product that was easy to produce and had a fast turnover, and by setting up a brand that offered a unique product not available elsewhere.
What was the strategy behind Miia's soft-serve ice cream pricing that helped it gain popularity?
-Miia adopted a loss-leader strategy by pricing its soft-serve ice cream at a very low cost, around 2 yuan, which was significantly lower than the market price, to attract customers and create a buzz around the brand.
How did Miia leverage the popularity of its soft-serve ice cream to expand its business?
-Miia capitalized on the popularity of its soft-serve ice cream by opening franchises, which allowed rapid expansion and the generation of significant revenue, leading to over 20,000 branches worldwide.
What is the significance of the franchising model in Miia's global expansion?
-The franchising model was crucial for Miia's global expansion as it allowed the brand to grow rapidly by enlisting investors and entrepreneurs to open branches under the Miia brand, while also generating the capital needed to optimize its supply chain.
How did Miia manage to control its supply chain and reduce costs after expanding through franchising?
-After expanding through franchising, Miia was able to leverage its large demand to negotiate better prices with suppliers, achieve economies of scale, and optimize its logistics, resulting in lower costs and consistent quality across all branches.
What is the importance of having a clear business strategy and plan for future growth as illustrated by Miia's case?
-Miia's case highlights the importance of having a clear business strategy and plan for future growth. The brand's strategic decisions, such as pricing strategy and franchising model, were carefully planned to achieve long-term success and global expansion.
What lessons can entrepreneurs learn from Miia's success story regarding business expansion and market strategy?
-Entrepreneurs can learn the importance of innovation, strategic pricing, leveraging popularity through franchising, optimizing supply chain management, and the need for a clear vision and plan for sustainable business growth from Miia's success story.

Outlines

00:00

🌍 Expansion of a Global Ice Cream Brand

This paragraph introduces the remarkable growth of a Thai ice cream and dessert brand that has expanded globally with over 20,000 locations, ranking among the top five brands with the most branches worldwide. The founder of this brand was recently highlighted by Forbes as a rising billionaire. The narrative sets the stage for exploring the brand's strategic journey and leadership lessons, emphasizing the importance of business planning and vision. The speaker, Noppong Sathorn, reflects on what entrepreneurs can learn from this founder’s approach.

05:00

🍧 The Humble Beginnings of the Founder

This section traces the early journey of the brand’s founder, Zhang Hong Chao, a Chinese entrepreneur who started his business in 1997 with a small investment of 3,000 yuan (~20,000 baht). His initial venture, selling cold beverages on a street stall, eventually failed, but his perseverance led him to create his ice dessert brand. Zhang’s vision and strategy for differentiation in the dessert market laid the foundation for his future success.

10:02

📉 Overcoming Early Failures in the Dessert Business

After experiencing several business failures between 1997 and 1999, Zhang continued to refine his approach. His initial ice dessert shops had modest success, but they couldn’t grow beyond a certain level. The case study invites the reader to think about what strategy they would use in Zhang’s position to break through this stagnation, encouraging a problem-solving mindset for real business challenges.

15:02

🍦 Soft Serve Ice Cream as a Strategic Move

Zhang identified an opportunity in the ice cream market, particularly soft-serve ice cream, which was popular but expensive in China. He decided to introduce soft-serve ice cream at an incredibly low price (2 yuan, ~10 baht) to attract customers. This low-margin, high-volume strategy was not about making a profit on the product but about drawing in large crowds, turning the business into a local sensation.

👗 Price Luring Strategy in Other Markets

The paragraph explains that using loss leaders—products sold at a loss to attract customers—is a common retail strategy. Examples include Zara, which uses low-priced clothing items to lure customers into exploring the store, and high-end brands that offer affordable products like perfumes to attract a broader audience. This strategy is seen across various industries and is effective in drawing customers who may later purchase higher-priced products.

📈 Capitalizing on a Growth Opportunity

In 2006, Zhang's decision to sell soft-serve ice cream at an extremely low price created a massive opportunity for growth. Recognizing the demand surge, he quickly expanded the business by opening it to franchising in 2007. The strategy was successful as entrepreneurs saw the potential of the brand, leading to rapid franchise sales. The paragraph hints at the complexities of running a successful franchise system, posing questions about the founder’s planning for global expansion.

🧩 The Puzzle of Global Expansion

Zhang’s strategy for global expansion wasn’t just about selling franchises; it involved sourcing materials and managing supply chains to ensure profitability and quality. His ability to create economies of scale by buying ingredients like cream and milk in bulk allowed him to maintain competitive pricing and profitability. The strategic focus was on controlling the supply chain, which became a key factor in the brand’s global success.

🌟 Leveraging Franchise Success and Supply Chain Mastery

This section concludes the case study by emphasizing how Zhang’s control over the supply chain and the franchising model led to his brand's explosive growth. By managing both the demand for materials and franchising income, Zhang ensured his company’s profitability and scalability. As of the last year, the brand reported sales of over 13 billion yuan (~70 billion baht), cementing its place as a global leader in the ice cream and dessert market.

Mindmap

Keywords

💡Franchise

A franchise is a business model where a parent company, referred to as the franchisor, licenses its business name, logo, and operating system to a third party, known as the franchisee. In the video's context, the franchising strategy is highlighted as a pivotal move for the brand's rapid expansion, allowing it to scale up quickly and open numerous outlets worldwide.

💡Market Strategy

Market strategy refers to the methods a company uses to reach its target audience and achieve its business goals. The video discusses the brand's market strategy, particularly its decision to sell a popular product, ice cream, at a low price to attract customers and differentiate itself from competitors.

💡Economy of Scale

Economy of scale is an economic concept where increased output leads to lower per-unit costs. In the video, the brand leverages this concept by expanding its franchise network, which allows it to negotiate better prices with suppliers and reduce the cost of goods sold, thus increasing profitability.

💡Supply Chain Management

Supply chain management is the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer. The video emphasizes the importance of an efficient supply chain in supporting the brand's growth, ensuring consistent product quality and lower costs across its expanding network of stores.

💡Brand Expansion

Brand expansion is the process of growing a brand's presence in the market by introducing new products, entering new markets, or increasing market share. The video script narrates the brand's journey from a single store to a global phenomenon with over 20,000 outlets, exemplifying successful brand expansion.

💡Competitive Advantage

A competitive advantage is a characteristic or attribute that enables a company to outperform its competitors. The video describes the brand's competitive advantage as its unique business model, which includes selling a popular product at a low price point, thus attracting a large customer base.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business. The video's narrative centers around the entrepreneurial journey of the brand's founder, who started with a small ice cream shop and grew it into a global brand through strategic planning and execution.

💡Business Model

A business model describes the rationale of how an organization creates, delivers, and captures value. The video script outlines the brand's innovative business model, which focuses on selling a high-demand product at a low price to attract customers and then leveraging that customer base for further growth.

💡Growth Opportunity

Growth opportunities are circumstances or situations that present a chance for a business to expand or improve. The video discusses the brand's identification and capitalization of growth opportunities, such as entering the franchise model and expanding its product offerings to increase market penetration.

💡Customer Loyalty

Customer loyalty is the ongoing patronage of a customer to a particular brand or product. The video implies the importance of customer loyalty in the brand's success, suggesting that the brand's strategies have fostered a loyal customer base that returns for its unique and affordable products.

💡Innovation

Innovation is the process of translating an idea or invention into a good or service that creates value or for which customers will pay. The video highlights the brand's innovative approach to its product and business model, which has been key to its rapid growth and success in a competitive market.

Highlights

A popular frozen dessert, ice cream, and tea brand has rapidly expanded globally.

The brand has over 20,000 branches, making it one of the top five franchise chains in the world.

The founder of the brand has been recognized as a prominent entrepreneur.

The case study invites viewers to explore the brand's strategic planning and business management.

The brand's history dates back to 1997, started by a man named Zhang Hong with a simple concept of selling cold drinks.

The initial business model was not complex, focusing on selling easily accessible and profitable beverages.

Despite the simplicity, the business faced intense competition and a lack of sustainability.

Zhang Hong's determination led to the creation of a new brand focused on differentiated products.

The brand's unique selling point was its soft-serve ice cream, differentiated by a low price strategy.

The decision to sell the soft-serve at a very low price attracted a massive customer base, revolutionizing the brand's presence.

The brand's growth strategy included franchising, which allowed rapid expansion with over 20,000 branches worldwide.

The franchising model not only increased brand presence but also provided capital for supply chain optimization.

Economies of scale were achieved through bulk purchasing, significantly reducing production costs.

The brand's success is attributed to its strategic planning, including market research and innovative business models.

The case study emphasizes the importance of adapting business strategies to seize growth opportunities.

The brand's story serves as an inspiration for entrepreneurs, demonstrating the power of strategic planning and execution.

The video concludes with a call to action for viewers to apply the lessons learned from the case study to their own businesses.