...company that I have chosen which is the Starbucks company. We will study the environmental analysis of Starbucks Company as well as the customer and competitor analysis. On top of that, we will also analyze the company’s industry analysis which includes the Porter Five Forces, PESTLE analysis and SWOT analysis to study the company’s position in the industry. Furthermore, this report will discuss the marketing objectives and marketing strategies of Starbucks Company and how the company uses the marketing plan to promote the company’s new product in order to grow their business. In the last part of this report, the company’s budgeting will be shown and the evaluation of control and mechanism will be clearly explained. Objectives The company’s objective is to establish Starbucks as the most recognized and respected brand in the world by providing and offering the best quality of coffee to a wide range of customers (Fellner, 2008). Mission The company’s mission is to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Starbucks also wants to establish their brand as the premier and the finest coffee in the world while maintaining their uncompromising principles as they expand. On top of that, the company is passionate about ethically sourcing the finest coffee beans to improve the lives of people who grow them (Starbucks Coffee Company, 2013). Environment Analysis Company Analysis Starbucks Coffee is the largest coffeehouse company...
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...Starbucks Marketing Plan Group H National University Table of Contents Executive Summary.………...….….……….………....…..…………...……………...………..…3 Situation Analysis…..……………………………………….……...……………...……………...3 Marketing Strategy……….…………………………….………………..……….........………….9 Financials……………………………………….…………………………….…….…….…...…12 Controls…………………………..…………..……….……..………….………….………..…...16 Appendix………………………………….………….……………………………….…….……17 References………………………………………………………………………..…………........18 Starbucks Marketing Plan Executive Summary Starbucks Coffee Company’s reputation is so exceptional; the company must maintain its outstanding brand reputation. Starbucks has been and continues to increase demand; therefore, we need to maintain exceptional customer service by decreasing the long lines during peak hours. If the standards are not the same Starbucks jeopardizes their excellent reputation. If the standard of quality were to drop, consumers would be less likely to choose to pay the premium price, resulting in a significant loss of market share. With such rapid demand, Starbucks must also ensure that its standards are met throughout the world. Recommendations: * Introduction to Starbucks new ordering application (app) to ensure high quality customer service in every aspect of the Starbucks brand. Situation Analysis Starbucks has been a leader in coffee and other beverages and is a well-known brand. Starbucks offers a variety of products to meet customers’ needs and has expanded...
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...Marketing Plan for Starbucks Coffee BMM 364 Assessment-Part A Written by: Tianyi Wang (WAN12383771) Written for: Leo Billington 2012/10/19 * Table of Contents 1.0 Executive Summary 3 2.0 Introduction 4 3.0 Current External Marketing Situation 4 3.1 External/General Environment analysis and Trends 4 1 Demographic Segment 4 2 Economic Segment 5 3 Political/Legal Segment 6 4 Social-Cultural Segment 6 5 Technological Segment 8 3.2 Detailed Market Analysis and Projected Demand 8 1. Market Size 8 2. Market Growth Rate 9 3.3 Industry Analysis Including Porter’s Five Forces 9 1. Threat of New Entrants 9 2. Bargaining Power of Supplies 10 3. Bargaining Power of Customers 10 4. Power of Substitutes 11 5. Intensity of Rivalry 11 3.4 Competitors Analysis 11 4.0 Current Internal Analysis 12 4.1 SWOT of the Business and the Product/Service 12 1. Strengths 12 2. Weaknesses 13 3. Opportunities 13 4. Threats 14 4.2 Issues and Risk Analysis 14 1. Strategic Risk 15 2. Operational Risk 15 3. Political Risk 15 4. Country Risk 15 5. Technological Risk 16 6 Environmental Risk 16 4.3 Ethical and Corporate Socially Responsible Behavior 16 5.0 Identify a Commercially Viable Market Opportunity 17 5.1 Market Opportunity Including Potential Segments of the Market and Justification 17 5.2 Define the Value Provided 17 5.3 Positioning statement 18 6.0 Marketing Plan Objectives 19 7.0 Conclusion...
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...Strategic Marketing Plan ------------------------------------------------- Lecturer: Erik Kostelijk Student: Parisa Taghipoor Class: ICV4C Date: 19 November, 2010 ------------------------------------------------- 1.0 Introduction & Background ------------------------------------------------- 1.1 Background Established in 1985, Starbucks Corporation is today’s premier roaster and retailer of specialty coffee in the world. Starbucks purchases and roasts high-quality whole bean coffees and sells them, along with fresh, rich-brewed coffees, Italian-style espresso beverages, cold blended beverages, a variety of complementary food items, a selection of premium teas, and beverage-related accessories and equipment. The international coffeehouse has built one of the most powerful and recognizable brands in the world upon high-quality coffee and the unique "Starbucks Experience." Starbucks has sought to capitalize on its growing popularity through expansion; the addition of over 1500 stores in just over a year brought its total store count to over 16,600 in 2008. In fiscal 2008, the company's stores (retailer and licensed) generated US$ 10.4 billion in revenue. Starbucks first revolutionized the coffeehouse industry by marketing expensive, high-quality coffee as well as a "third place" between work and home - a warm, clean, and inviting environment where customers go to escape...
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...Marketing Plan Phase III MKT/421 December 1, 2013 Pareesa Naveed Marketing Plan Phase III Incorporating a home delivery and catering service for Starbucks is a different and exciting avenue the company will be taking to expand their products and services to their customers. The attributes of these services differ from Starbucks other service. This overview will look at the different attributes of the product along with the life cycle of the new services provided. Starbucks has already differentiated its products in the market as some of the finest atmosphere oriented coffees on the market. Starbucks will employ, differentiate, and position strategies to separate its new services. They will also have use an appropriate pricing strategy for these new services. This overview will evaluate how Starbucks will use these strategies to provide the best marketing for the new services they intend to provide. Starbuck’s new coffee home delivery is available for customers to sign up online or in a store. Starbucks coffee lovers can have the coffee they love delivered to their front door monthly. The convenient sign up process will provide the customer with an auto-shipment of coffee direct from Starbucks monthly. The customer selects the date and duration between shipments. Consumers quickly sign up with a credit card and receive their Starbuck’s coffee delivered to their home every month without worrying about purchasing coffee at a retail location. Coffee lovers...
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...Marketing Plan Phase II MKT/421 November 25, 2013 Pareesa Naveed Marketing Plan Phase II Starbucks Corporation's new services recently announced to the public received a warm welcome. Catering and home delivery services selected by this organization in addition to services already provided by Starbucks to customers received nice reviews. Working on how best to get others in the community to begin using the services is part of phase two of this marketing plan. According to smallbusiness.chron by Fraser Sherman, Demand Media, “Market segmentation breaks customers down into categories based on income, age, race, lifestyles, location, and other factors to craft marketing strategies tailored to each segment.” There are different, sufficient techniques to run an operation smoothly. One key step is to understand the customer base. That is simply gathering the information on the consumers who may be in a particular area of where the business will be. The market is to target individuals who share special preferences through advertising and campaigning. The selected locations of Starbucks stores take careful consideration and planning also. The focus is primarily on selling delicious coffee and pastries while providing remarkable service. The corporation has to stay on top of their goals and constantly create new strategies aiming to fulfill the needs of each customer. It is very important to carry out each step of is process thoroughly because each plays a critical...
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...Marketing Plan Phase I: Starbucks MKT/421 November 18, 2013 Pareesa Naveed Marketing Plan Phase I: Starbucks Marketing is an essential part of a business’ strategy for long-term success. Different business can have different views of what marketing means and how to create an effective marketing strategy specifically to meet the customer needs and the needs of the company. A marketing plan must have a defined goal and a vision on how to obtain that goal. The team is tasked to define a marketing plan to introduce Starbuck’s new Home Delivery and Catering Services. This marketing plan will provide an overview of the existing organization and describe the new services being considered. Additionally, the marketing plan will analyze the Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) of these new services. Finally, the plan will describe the research approach the team will use to develop the strategy and tactics to introduce the new Home Delivery and Catering Services. Starbucks opened the first store in the Seattle, Washington Pike Place Market in 1971. Starbucks always wanted to be a different kind of company by celebrating the rich tradition of coffee and by providing a feeling of connection. Starbucks has more than 18,000 stores in 62 countries. The company is the premier roaster and retailer of specialty coffee in the world and strives to bring the company’s heritage and an exceptional experience to life, (Starbucks Corporation, 2013)....
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...Global Marketing Value on Integrated Marketing Starbucks Coffee Starbucks History Jerry Baldwin, Zev Siegl and Gordon Bowker created Starbucks; they met coffee roasting entrepreneur Alfred Peet who inspired the three novices to open a coffee shop to sell roasted coffee at their first location in Pike Place, Seattle. Their goal was to sell high quality coffee beans. This venture has certainly paid off, as Starbucks has become a well-known name brand both locally and internationally. They met Howard Schultz an entrepreneur who suggested the idea of selling coffee drinks in European style cafes. He later went on to purchase Starbucks and expanded the coffee chain. Starbucks Corporation (NASDAQ: SBUX) is a global coffee company with an Italian-style coffeehouse which started its chain in Seattle, Washington. Starbucks is the largest coffeehouse company in the world, with 19,972 stores in 60 countries, including 12,937 in the United States, 1,273 in Canada, 971 in Japan, 790 in Great Britain, 657 in China, 453 in South Korea, 356 in Mexico and 276 in Taiwan. Starbucks sells drip brewed coffee, espresso-based hot drinks, other hot and cold drinks, coffee beans, salads, hot and cold sandwiches and Panini, sweet pastries, snacks, and items such as mugs and tumblers. Through the Starbucks Entertainment division and Hear Music brand, the company also markets books, music, and film. Many of the company's products are seasonal or specific to the locality of the store. Starbucks-brand...
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...Part 1 Obtain the information about marketing strategies that are currently being considered by your organization. Marketing strategy is a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives. Therefore I would like to discussion current marketing strategies of Starbucks. Starbucks is particularly proud of their commitment to maintaining quality, integrity, and great taste of coffee through the course of its growth, and coupled with that commitment is the high value placed on the employees (partners) worldwide. "We realize our people are the cornerstone of our success, and we know that their ideas, commitment and connection to our customers are truly the essential elements in the Starbucks Experience." Starbucks' value for people goes beyond the employees, however. The relationship between the strength and vitality of the communities and the success of Starbucks is highly valued: investing in communities is not only the right thing to do, it has become part of the tradition of the Starbucks culture, to help produce social, environmental...
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...E-Marketing BM012-3-2-EMKT Individual Assignment | Table of Contents 1.0 INTRODUCTION 3 2.0 STRATEGY IDENTIFICATION 4 2.1Marketing Mix 4 2.11 Product 4 2.12 Price 4 2.13 Place 5 2.13 Promotion 5 3.0 ENVIRONMENTAL ANALYSIS 8 3.1 SWOT Analysis for Starbucks 8 3.2 PEST Analysis for Starbucks 10 3.21 Political 10 3.22 Economic 10 3.23 Social 11 3.24 Technological 11 4.0 E_MARKETING PLAN 14 4.1 E-Marketing Strategic Planning 14 4.11 Segmentation 14 4.12 Targeting 15 4.13 Differentiation 15 4.14 Positioning 16 4.2 Objectives 18 4.3 E-marketing Strategy 18 4.4 E-marketing Tactics 19 5.0 IMPLEMENTATION 22 5.1 Implementation Plan 22 5.2 Evaluation 24 6.0 CONCLUSION 25 7.0 REFERENCES 26 8.0 APPENDIX 30 1.0 INTRODUCTION Starbucks is a well known brand established 1971 at Seattle by Jerry Baldwine, Zev Seigle and Gorden Bawker. The company operates in approximately in 17,000 retail stores over 49 different countries including Malaysia. With the mission statement of “to inspire and nurture the human spirit-one person, one cup and one neighbourhood at a time” Starbucks have been expanding rapidly. Other than the world premium coffee Starbucks offers tea, cold beverages, complementary foods such as sandwiches and salads. (A. Mettlach, 2010) Starbucks has invested highly on IT to target their products and services to market segments. As a result Starbucks has attracted a large number of customers and established a...
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...Starbucks New Product Marketing Plan Shanna Cobb-Adams, Terri Corona, Antony Coumans, Andrea Garcia, Mary Hale, Paula Warren MKT 421 April 30, 2012 Mark McClintock Starbucks New Product Marketing Plan When a firm is developing a new product it is important to create a marketing plan for that product. The plan begins by researching the products competitors are offering and the products competitors are lacking. The new product should meet the needs of consumers not currently met in the market. This offers the new product a greater chance of success. The next step in developing the plan should include an analysis of the strengths, weaknesses, opportunities, and threats that the new product will face. The plan should also include the marketing approach and implementation to bring the new product to market. Starbucks Profile Starbucks opened its first store in 1971 in Seattle, Washington, at Pike’s Place Market. Starbucks is known for outstanding coffee, tea, and treats as well as a warm, inviting atmosphere. Starbucks’ Mission is “to inspire and nurture the human spirit – on person, one cup and one neighborhood at a time” (Company Profile, p. 1). As of October 2, 2011 the total amount of Starbucks stores in operation is 17,003. Starbucks values its employees and calls them “partners” to show the value each of them brings to the company. The partners of Starbucks receive full benefit packages and stock options. Starbucks is also a company that...
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...Starbucks Marketing Goals and Objectives Teneisha Gamble Grantham University BA440: Marketing Analysis Benjamin Brink 26 October 2014 Abstract Traditional, when you think of coffee it is brewed at home or at a restaurant. The beginning of Starbucks was an idea of three guys who wanted the European-style of whole bean coffee taste, unlike the traditional of Folgers’s and Maxwell House coffee. With the change of times Howard Schultz reinvent how Americans viewed coffee. Using the Italian coffee and barista idea, he incorporated the idea to what we call Starbucks. The vision of camaraderie between the customers, and the barista is what Starbucks was founded on. Launching a coffee shop like any other business there must be a plan and goal to market the product. Starbucks Marketing Goal and Objectives Starbucks was a vision of Howard Schultz who was the marketing director, until he bought out the company. Starbucks opened its’ doors in 1971, exceeding competitor Seattle’s Best which in 2003 the company acquired. In the beginning Starbucks used the word of mouth approach for advertisement...
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...1. Organizational Objectives The goals of the company, following the SMART principles, are outlined below: New Product The company intends to launch new products that suit the younger client, regarding the content, quantity and appropriateness of the products for our young customers ( NBCNews, 2007). Awareness Our plan is to increase levels of awareness of our brand among young populations between the age of 7 and 18.The plan involves achieving a 25% increase in knowledge of the products that our company offers, geared towards children and teenagers, in a period of 6 months from the commencement of implementation of this plan. Satisfaction This marketing plan is geared towards increasing the satisfaction of our young consumers by 15% for the products offered by Starbucks in 12 months. Stimulating sales The company intends to raise the sales of the newly developed products by a margin of 20% in the first half of the rollout of the products on the market. 2. Risks and SWOT Analysis Risks The risks posed by the new objectives of the firm include increased costs associated with adding new products. Moreover, adding too many extensions to existing products poses the danger of cannibalizing the sales of the original products. SWOT Analysis Strengths The company has the advantage of a new market for the products created which is provided by the high number of young clients that visit our outlets alone, in the company of their friends, or their parents and adults...
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...Starbucks New Product Marketing Plan Shanna Cobb-Adams, Terri Corona, Antony Coumans, Andrea Garcia, Mary Hale, Paula Warren MKT 421 April 30, 2012 Mark McClintock Starbucks New Product Marketing Plan When a firm is developing a new product it is important to create a marketing plan for that product. The plan begins by researching the products competitors are offering and the products competitors are lacking. The new product should meet the needs of consumers not currently met in the market. This offers the new product a greater chance of success. The next step in developing the plan should include an analysis of the strengths, weaknesses, opportunities, and threats that the new product will face. The plan should also include the marketing approach and implementation to bring the new product to market. The market approach includes product, price, place, and promotion. Each item is carefully considered because they are important to the products success. A detailed marketing plan is outlined below for Starbucks new product, the peanut butter cup Frappucino. Organizational Overview Starbucks opened its first store in 1971 in Seattle, Washington, at Pike’s Place Market. Starbucks is known for outstanding coffee, tea, and treats as well as a warm, inviting atmosphere. Starbucks’ Mission is “to inspire and nurture the human spirit – on person, one cup and one...
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...Starbucks Corporation: How to Improve the Current Marketing Strategy Robert Gibson Marketing Professor McNabb March 19, 2007 Abstract Starbucks opened in Seattle’s Pike Place Market in 1971 with hopes of creating a “third place” between home and work. Starbucks was created to produce premium coffee, while adhering to various core principles during economic growth. “The company has realized that people don’t only come for coffee; they come for the atmosphere,” (Kembell). Customers are able to socialize, read, study or enjoy music while drinking coffee. Starbucks strategically positions each store with hopes of matching the specific location, helping to create a unique atmosphere. Throughout this paper, I will analyze Starbucks’ current domestic and international marketing strategy through SWOT (strengths, weaknesses, opportunities and threats) analysis, to provide new ideas, leading to market segmentation. Starbucks is a global corporation that sells authentic coffee in 30 countries, reporting revenues of nearly $5.1 billion in 2006 (Starbucks Marketing Plan). The main goal of Starbucks is to embrace diversity by applying the highest standards of excellence. On average, Americans drink 3 cups of coffee per day, though it is hard to make an accurate guess because every customer has their own personal rate. Starbucks strives to perfect the relationship with the working class by making the service as fast as possible. Providing consumers with the option of...
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