The Impact of Mixue’s Brand Character on Its Corporate Growth

The beverage business in China has faced a big negative economic shock after COVID-19, thus, many milk tea businesses had to close or even became insolvent.During the spring of COVID-19, they have become more sensitive to price competition, however, there are still some eminent businesses standing out from the others in the highly saturated market.For example, if one company launches a new product, the rest of the companies will follow it and almost simultaneously launch the same flavors.One of the most interesting ideas is to set up their personal character to strengthen themselves in the consumer's mind.Using the "Snow King" image as its strategic core and through the continuous expansion of its peripheral product matrix, the brand has successfully built a farreaching and highly influential IP ecosystem.Therefore, this essay is thoroughly drawing on literature research and comparative study to figure out the advantages and disadvantages of Mixue.