VIP Class Notes (Tibo) [S]

talking about business models

the people in Shenzhen mostly migrate from other cities there are no local people in Shenzhen and the rhythm of the life is very fast. It depends what kid of work, I think it is fast. Before I taking a holiday I get up at about 7:30 and then I went to work by metro it about 8:30 because I would take about 1h to go to my office and I usually went home at 7 but after that I would keep working by WeChat sometimes it would last till 10 pm.
people will interrupt you to reply. I think this kind of life is a bit too fast I don’t like work overtime I think if my work can ended at 7 it is ok but I really want a true free time without interruption.

mostly we work on WeChat with our agency and they always work until midnight.
Sometimes they send me the proposal at 1am.
Usually we do not send before the deadline if you send it early it means you are capable to more work. So when I give a deadline to other people I will give some buffer but I will say at first there is no buffer.

She always leave home to do some shooting, she has nearly 5 or 6 dogs. I think being her dog is very very happy. They are taken good care. She cooks good food for them and I remember there is one time we need to wait for a long time and during this period she was making a sweater for her dog. She has very good skills to shooting and setting she can make a good pose for his dog and make a good photo.

I remember when Starbucks entered in china. I love the coffee culture. it is the first coffee brand I have touched. I remember Starbucks became my dream company even before I graduated. The reason is that I can drink free coffee everyday because Starbucks is very expensive.

Luckin is the first brand that told Chinese people that coffee should not be so expensive and they made it cheaper. When Luckin established people can get a free coffee the first time and then 5 or 1o the second / third tie and they will send you coupons with heavy discounts but their business model so far they cannot earn… their profit is negative.
Starbucks always say they offer the whole experience including the environment and the service but Luckin target on the person who only need a cup of coffee. What we expect is that the coffee is good quality and value for money and convenience because they focus on the delivery and take away. it satisfies the functional needs more than the emotional needs.

before luckin develop so fast Starbucks  retained its customers via very strong CRM system mechanism.
They have member cards. you pay 88 cny and you can get 3 coupons and there is a series of mechanism.
They do promotions not very often but now they are challenged by the conception in the coffee market and they are forced to do a lot of things. They launched delivery service on Elema.

I think the business is made of customers and the value you paid, So this means how many people come to buy your coffee and how much they pay.in terms of delivery the first thing to do is the fundamental work including the delivery system, efficiency, quality of the coffee and the digital system to make orders and give the customer a good experience. and secondary is how to acquire users. I think at first the aggregator is a good channel to acquire customers. They need to encourage people to make orders on their own apps.

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Most the people in Shenzhen mostly migrated / came from other cities there are not many local people in Shenzhen and the rhythm of the life is very fast / it is fast paced. It depends on what kind of work you do, I think it is fast. Before I started a holiday I usually got up at about 7:30 and then I went to work by metro at about 8:30 because I would take about 1h to go to my office and I usually left the office at 7 but after that I would keep working on WeChat sometimes it would last till 10 pm.
People interrupt you to reply to their messages. I think this kind of life is a bit too fast I don’t mind to work overtime I think if my work can end at 7 it is ok but I really want a true free time without interruptions in the week end…

we mostly work on WeChat with our agency and they always work until midnight.
Sometimes they send me the proposal at 1am.
Usually we do not send anything /the file before the deadline if you send it early it means you are capable for more work. So when I give a deadline to other people I will leave/keep some buffer but I will say to them that/ pretend there is no buffer.

She always leaves home to do some shooting, she has nearly 5 or 6 dogs. I think being her dog is very very happy / is a good deal / doesn’t leave much to be desired. / is like paradise. They are taken good care of. She cooks good food for them and I remember there was one time we needed to wait for a long time and during this period she was making a sweater for her dog. She is good at shooting and posing them she can make them pose well together / she can make them stay put and make a good photo.

I remember when Starbucks entered in china. I love the coffee culture. it is the first coffee brand I have touched/experienced. I remember Starbucks became my dream company even before I graduated. The reason is that I can drink free coffee everyday because Starbucks is very expensive.

Luckin is the first brand that told Chinese people that coffee should not be so expensive and they made it cheaper / luckin democratized coffee for the masses.

When Luckin established people could get a free coffee on their first purchase and then the price would increase gradually and they would send you coupons with heavy discounts but their business model so far is not profitable their profit is negative. / it is not sustainable.
Starbucks always say they offer the whole experience including the environment and the service but Luckin targets the people who only need a cup of coffee. What we expect is that the coffee is good quality and value for money and convenient because they focus on the delivery and take away. it satisfies the functional needs more than the emotional needs.

before luckin developed so fast Starbucks  retained its customers via very strong CRM system mechanisms.
They have membership cards. you pay 88 cny and you can get 3 coupons and there is a series of mechanism.
They didn’t often offer promotions but now they are challenged by the competition in the coffee market and they are forced to do a lot of things.  They launched a delivery service on Elema.

I think the business is made by the number of customers and the amount they pay, So this means how many people come to buy your coffee and how much they pay. In terms of delivery business the first thing to do is to focus on the fundamental work including the delivery system, efficiency, quality of the coffee and the digital system to make orders and give the customer a good experience. and the second point is how to acquire new users. I think at first the aggregator is a good channel to acquire customers. They need to encourage people to make orders on their own apps.

Vocabulary

profitable : making profit / making money
Luckin is not profitable yet, they are losing money every year.

retention (n) : ability to keep
Customer retention in Starbucks has decreased since Luckin started to do promotions

to retain : to keep
We have to find news ways to retain customers.

blurry : not clear
He took the photo while driving so the picture was blurry.
Tom wants to start a business but his ideas are still blurry he needs to work on it a bit more.

blur (n/v)
WeChat blurs the line between work and personal life.

pose (v/n)
The models pose very well.
I don’t like the pose in the picture.

status symbol : an item that makes someone look like he/she belongs to a high class
Having an iPhone is a status symbol.

awkward : not natural / artificial
The photographer asked the model to pose in an awkward position.
She smiled awkwardly.

to stay put : not move / stand still
Her dog obeys her, she told it to stay put and it didn’t move at all.

Pronunciation

culture

acquire