IB CAS PROJECT-COFFEE MARKET RESEARCH
Given the situation that coffee gradually becomes an indispensable part of people’s lives, resulting in a booming in coffee shops, we want to explore the reasons of increasing demand of coffee, linking them with economic theories which we have learned in the textbooks about the determinants of demand.
We carried out this project via interviews, questionnaires etc in several coffee shops, including Starbucks, Café Bene, Costa, Pacific etc.
Firstly, we investigated how the income level of consumers affects the demand by releasing questionnaires to customers. Secondly, we looked into how seasonal change products affect the demand by interviewing customers and coffee shop staffs. Thirdly, we talked to customers and staffs to understand the importance of advertisement. Then, we also tried different kinds of coffee in different coffee shops and share ideas with other people to see how taste affects demands. At last, we checked with customers and staffs to know how fashion elements、facilities、decoration etc play an important role in affecting demands.
And here are our final results for this project.
1. We worked out an essay explaining reasons of increasing demand of coffee, e.g. income, seasonal change, taste, advertisement, decoration, fashion elements, facilities etc according to our interview records, questionnaire feedback etc from economic perspective.
2. We also completed a video as a record of all our activities for this project. This video contained our interviews, questionnaires, analysis etc.
3. We made a brochure in both Chinese and English, summarizing the factors of increasing demand of coffee according to our interview records, questionnaire feedback etc from economic perspective as well as our feelings and experience during the activity.