Starbucks 's Marketing Plan For Starbucks

Starbucks has created a competitive advantage with their product quality by setting themselves apart from their competitors. “The Company has stayed with the upper-scale of the coffee market, competing on comfort rather than convenience, which is the case with its closest competitors, McDonald’s and Dunkin Donuts” (Mourdoukoutas, Panos). Consumers believe they are receiving a better product and experience when they purchase from a Starbucks as opposed to another large food service company that may sell coffee.

starbucks Corp., an international coffee and coffeehouse chain based in Seattle, Washington, has expanded rapidly since its opening in 1971. These outrageous success was due to its well-developed strategy vision which lay out the company's strategic course in developing and strengthening its business. Starbucks is a global corporation that sells authentic coffee in 30 countries, reporting revenues of nearly $5.1 billion in 2006. The main goal of Starbucks is to embrace diversity by applying the highest standards of excellence. Starbucks strives to perfect the relationship with the working class by making the service as fast as possible because they believe that every customer has their own personal rate. One

Starbucks has developed a brand image that has revolutionized coffee drinking experience. It has created an ambiance that is designed to attract customers and keep them coming back to Starbucks stores. It offers wide varieties of services such as comfortable seating areas with unique music and free wireless Internet for their customers while sipping their favorite coffee. This distinctiveness sets Starbucks apart from most of its competitors and has allowed the company to successfully grow and profit while charging premium prices for their products.

It’s hard to drive the street these days and not see a Starbuck’s coffee house sitting on a corner with cars lined up in the drive-thru or consumers gathering in their café to socialize. This has been the scene since the first Starbucks was opened in 1971. Since then, Howard Schultz, chairman and CEO, has embarked on a quest to bring Italian bistro traditions to the United States. Starbucks mission statement is simple, “to inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time” (Starbucks, 2017, para. 7). Starbucks has built a global empire with a reported 22,519 stores spanning over 66 countries. The company’s diversity and purchase power of high quality whole coffee

Starbucks advertises two essential mission statements. First and foremost, it strives to “establish [ourselves] as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while [we] grow(s).” (Starbucks) Reflective of its mission, Starbucks bases its strategic campaign and communications on six indispensable philosophies; structuring a pleasant work environment in which employees are treated with “respect and dignity,” incorporating diversity in all business aspects, purchasing, roasting and delivering fresh coffee, retaining satisfied customers, giving back to the community and environment, and developing

Starbucks is acclaimed for its superior value proposition in the early 1990’s by creating an experience around the consumption of coffee, a ‘third place’. The brand is positioned to offer the highest quality coffee, close customer intimacy, and warm atmosphere or ambience.

Starbucks is and will continue to be one of the largest distributers of a cup of coffee today and into the future.  The Starbucks mission to “inspire and nurture the human spirit – one person, one cup and one neighborhood at a time” directly correlates with the experience a customer has in each store. They have many ways to differentiate in comparison to competitors because they provide an experience while shopping for a coffee allowing them to charge a premium price.

While the competition in coffee market is intense, Starbucks aims to satisfy more customers in order to increase its profits. On Sep 2014, CEO of Starbucks announced that they are planning to open the express stores in New York in 2015. The problem is which channel should Starbucks use to increase the profit in a long term?

One company that has been particularly successful in creating an overall company image in my option has been Starbucks. They have been able to maintain a dominant position in today’s market. Where in the morning most of our society needs a good cup of coffee in order to start their day. At one point, we looked at Starbucks as a high-end marketer. A sort of club to belong to. However, things managed to change in the recent years where a 4.00 cup of coffee was becoming a luxury items. This became known as the Coffee Wars. Starbuck had to now face competition from the fast food world. Which was McDonald’s and Dunkin’ Donuts. They started to look at this market as an opening to gain more customers. They started to offer their

Starbucks has become a victim of over-saturation. The abundance of stores available is partially to blame for altering the consumer’s view of Starbucks as a quality of coffee shop. A brand seen as a luxury item in the coffee industry has now become rather accessible to consumers. This increase in availability of Starbucks brand and products provided is responsible for the decrease in appreciation consumers had for the corporation. Consumers are also taking into consideration their trips to Starbucks are no longer special experiences due to the rise in their availability. There is also a growing enthusiasm from health consciousness consumers in the United States and more people are cutting down on caffeine.

We release a BUY recommendation on Starbucks Corporation (SBUX) with our forecasted price of USD65.00, based on imputed results from H-Model, Discounted Free Cash Flow method, and Price Multiple method. This series of forecasts reflects a XXX% of price potential upon USD XXX of market closing price on DATE.

Starbucks is diversifying into other related industries including bottled water, and even the music retailing industry. When a customer enters a Starbucks, they get a wide choice of many different types of products. They provide bagels, souvenirs, pastries, yogurt, wraps, fruit, Frappuccino, Espressos, Tazo teas, and many other items. Starbucks uses contemporary design of all promotional, web-related, and other material to keep it appealing to young generations. This contemporary look and feel is unified throughout all their material, so even the older target segments will feel younger when they drink your coffee.

Starbucks had is beginning in Seattle, Washington in 1971 by Jerry Baldwin, Gordon Bower and Zev Siegl. These three friends just had a love for dark roast, European styled coffee. They sat out to make sure that they offered better tasting coffee than Folgers and Maxwell House. These owners had a vision that show customers about fine coffees and wines. They made sure they had the best of the best coffee beans only importing from Sumatra, Kenya, Ethiopia and Costa Rica. The owners even made sure that they used the correct coffee pots and equipment that wouldn’t alter the flavor of the coffee. Howard Schultz joined in the company in 1982. He was just a customer at first but something far greater in the company and decided that he had to act on it. When Schultz originally requested to join the company he was rejected. After more than a year of wanting to join Schultz came on board as the marketing director for Starbucks. After going on a trip to Milan, Italy Schultz vision for the Starbucks company had become clear. He wanted to give the people something more than just fine tasting coffee. Schultz loved the idea of coffee bars baristas and customers interacting together. The connection to the people who love coffee did not have to take place only in their homes, where they ground and brew whole-bean coffee. He wanted to turn the Starbucks name into an official coffee bar. His bosses were not too fond of this idea. It just would be too much of a risk for them. They were too

In this Assignment it is going to be analyzed the marketing strategies adopted by Starbuck Coffee and Virgin Group of companies. They have used, different strategies to expand the business activities. In terms of Starbucks they have used market penetration strategy to grab the market and when increasing sales revenue. With reference to Virgin Group of companies, they follow differentiation strategy and therefore, they have entered in to variety of markets. Due to these differences they have adopted variety of pricing strategies to reach the customers.

Starbucks to provide high quality products and provide our customers with quality service, they are prepared to pay more for better quality and better service. Starbucks to maintain the quality and level of service coffee purchases to prove a higher price. Starbucks took a lot of effort to stand out from the competition: new kinds of specialty coffee drinks, interior design to make time spent at Starbucks more enjoyable, new services (Starbucks goes mobile), Starbucks social networking communities, this creates for customers provide additional value, they are willing to pay more. Overall Starbucks is a strong global brand positioning itself as a coffee expert, whose product is based on the price of the relevant brand of high-end