What happened: Coffee beans compromised their authenticity
Why?: Coffee bean crisis 1994
How could this have been averted?
Solution: Despite the hard times (where other producers chose to buy cheaper beans) Starbucks reduced other items in order to account for the price rise. Therefore, when the market recovered, Starbucks found it had a stronger market than before the crisis.
Lesson to take home: Stay true to your brand- in the long term it will pay off.
I hope to build my brand on authenticity and truth.
Happy Beautiful day Zest Questers,
CEFO Zest and Fresh Mental Health Services