• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Marketing Analysis and Strategy Recommendation for Starbucks Coffee Company

Extracts from this document...

Introduction

Marketing Analysis and Strategy Recommendation for Starbucks Coffee Company 1. Introduction The purpose of this report is to conduct market analysis and recommend appropriate marketing strategies for Starbucks Coffee. In the report, we will first look into Starbucks's goal, its product and markets. Then we will look into the key actions and decisions that lead to the success of the company. After that, we will discuss the issues that Starbucks is facing in this competitive global market. For each strategic issue, appropriate marketing recommendations for the company are made respectively. 2. Background and situation analysis Starbucks Coffee starts in 1971 with a single store in Seattle's Pike Place Market. Today, they are privileged to welcome nearly 35 million customers on a weekly basis, in more than 12,000 stores around the world. (www.starbucks.com) Starbucks's goal is to become the leading retailer and brand of coffee in each of its target markets by selling the finest quality coffee and related products and by providing each customer a unique "Starbucks Experience". "Starbucks Experience" is a third place after home and work with superior customer service, clean and well maintained retail stores which reflect the personalities of the communities in which they operate. Starbucks strategy for expanding its retail business is to increase its market share mainly by opening additional stores in existing markets and to open stores in new markets. ...read more.

Middle

Starbucks strives to create a unique culture with a passionate interest in changing a simple commodity into an addictive gourmet delicacy and meet individual market wants and needs without compromising Starbucks's brand image and culture of the company. 4. Strategy Recommendations Starbucks's competence in the style of stores and creative coffee drinks has propelled it to the front among coffee retailers. Starbucks is not just stands for a cup of fresh and nice coffee. Starbucks is about the passion for the soul of people, quality product, excellent customer service and the experience and understanding of the culture of coffee. In the following paragraphs, we are going to analysis the 4Ps (i.e. Product, Price, Place and Promotion) of Starbucks, followed by appropriate marketing strategic recommendations. Product Premium Product Strategy Starbucks has been committed to sourcing the highest quality coffees around the world. It only purchases coffees that have been grown and processed by suppliers who meet strict environmental, social, economic, and quality standards. Starbucks is well-known for its exceptionally high quality coffees, care in selection, and expertise in roast (www.starbucks.com). Broad Product Differentiation Depending upon competence and innovation, Starbucks establishes its long lasting and profitable competitive advantages by broadly differentiating its coffee and coffee related products. Brand Image Starbucks combines its merchandizing strategy with its marketing programs to create and reinforce a distinctive brand image for its coffees. ...read more.

Conclusion

This indicates that as long as Starbucks maintains quality products and superb customer-service, individual consumers are unlikely to be able to exert their buying powers. Therefore, it's good for Starbucks to maintain its prevailing high-end coffee prices. 5. Conclusion It is no doubt that Starbucks is one of the most successful company in the world. They used a simply strategy, "connecting links between treating employees with dignity and respect and producing a good product and services." That was the major factors that differentiate Starbucks from others and bring the successful to Starbucks. The future of Starbucks, which is in a fast-growth phase, is apparently to be successful and promising. However, those keys of success may not be applicable to tomorrow's environment and in global market. Defending and growing a competitive position requires firmly built strategies based on its unique, valuable and leading capabilities and resources, rather than the products and services themselves, proactively responding to ever changing internal and eternal environment to keep fending off its competitors. Although currently there are no formidable competitors for Starbucks leadership in both international and domestic markets, it should not take it for granted for good. Tomorrow's destiny of Starbucks should depend on its strategic capability to preserve and sustain its strengths, offset weaknesses, avoid threats and capitalize on opportunities. If Starbucks would correctly identify and deal with the issues under current and near future circumstances, it could remain excited about further growth and continues to be prosperous. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays

  1. Jollibee Foods Coporation case study. there are some alternative strategies that JFC can ...

    With the potential market such as Vietnam, Jollibee targets the growth, profitability and its ability to develop successfully of the new market segments, services and solutions in those segments. ROLES AND RESPONSIBILITIES Top managers The responsibilities of broad of directors of JFC and Wal-mart are in common.

  2. BTEC BUSINESS UNIT 2

    The advantage of store visits is that it makes sure that all of the other stores are running as well as each other. This could also be bad as the colleagues may be behaving the way they do because they know that they are being inspected and any other times they would behave in any way they want.

  1. Marketing Research. Explain how different marketing research methods have been used to make a ...

    A supermarket that wants to carry out research to find out how they can improve the store may find it useful to ask people going into the store to complete a survey. This can be useful to find out what their customers want but it is only asking people who currently shop there.

  2. Unit 3 - Marketing Research And Marketing Mix

    Effecting branding can fix itself in the consumer mind and separates the company from their competitors. One of the benefits of branding is that it saves on future advertising costs. The product will become more known on the market.

  1. Marketing - what it is and why it is importance. Analysis of my marketing ...

    Surveys come in several different forms. Mail surveys are relatively inexpensive, but response rates are typically quite low-typically from 5-20%. Phone-surveys get some what higher response rates, but not many questions can be asked because many answer options have to be repeated and few people are willing to stay on the phone for more than five minutes.

  2. Business Studies Company Profile

    * Profit sacrificing, trying to make enough profit to keep the owners comfortable, but the owner doesn't want to have to work full time. This is most likely to be the aim of smaller businesses. * Sales growth, where the business tries to make as many sales as possible.

  1. Thorpe Park Marketing Mix

    It will be best to locate near schools as lots of young people will see it when go going to and from school. Place This section is another part of the marketing mix and will decide where my ride's going to be situated in the Park.

  2. Strategic Analysis of Woolworths

    10). Using tactics like price competition, product introduction, and advertising slugfests, Woolworths's businesses such as Safeway is continuously competing with its competitors for a strong position in the industry (Porter, 1979). Also, according to Hill, Jones & Galvin (2004, p. c47), the Australian retailing industry in which Woolworths' businesses, such as

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work