蜜雪冰城美国市场拓展的策略选择与风险应对研究——基于资源基础观、动态能力与风险管理的案例分析

Market Expansion Approaches and Risk Responses for MIXUE in the United States—A Case Study Based on the Resource-Based View, Dynamic Capabilities, and Risk Management

摘要: 文章以蜜雪冰城进入美国市场为案例，构建“资源基础–动态能力–风险管理”分析框架，考察其供应链、设备与加盟体系在美国的迁移条件及东南亚经验的适用边界。研究基于公司年度报告、招股文件、品牌开店信息及美国监管文件展开。研究发现：核心原料、标准化设备、数字化运营和加盟支持构成可迁移的资源组合，但其绩效转化取决于本地采购、设备认证与维保、区域物流密度和门店单位经济；东南亚形成的流程与培训方法可以复用，但价格、产品结构和扩张节奏需要重新配置。据此，文章提出“直营验证–区域能力建设–审慎加盟”的分阶段策略。

Abstract: This study examines MIXUE’s entry into the United States market through an integrated framework of the “resource-based view, dynamic capabilities, and risk management”. It evaluates the conditions under which the company’s supply-chain, equipment, and franchise systems may be transferred to the United States, together with the limits of applying experience from Southeast Asia. Evidence is drawn from corporate annual reporting, the global offering document, official store-opening releases, and U.S. regulatory materials. The findings indicate that core ingredients, standardized equipment, digital operations, and franchise support form a potentially transferable resource bundle. Its conversion into operating performance, however, depends on localized sourcing, equipment certification and maintenance, regional logistics density, and store-level unit economics. Operating procedures and training methods developed in Southeast Asia may be reused, whereas pricing, product structure, and expansion pace require reconfiguration. A phased approach of “company-operated validation, regional capability building, and cautious franchising” is proposed.