1. Action plans (for all marketing mix elements)
a. How do we make our marketing plan happen?
i. The company can implement the above strategies by:
1. Use the best of their Economies of scale to reduce costs.
2. Creating new independent Business Unit for New products
3. They should reduce cross functional tasks to reduce confusion between employees and increase efficiency.
4. Depend on the outsiders of their board to get potential new investments in new businesses.
a. Who is responsible for accomplishing each aspect of implementing the marketing plan?
i. When a nationwide company like Starbucks begins to implement a plan, it takes more than one person or one group. The whole organization must come together and be on the same page in order to push a product or idea forward.
ii. Some responsibilities Starbucks should implement is the following groups to carry out the objectives
1. Market research group – to gathered and analyzed market data
2. Category group – developed new products and managed the menu
3. Marketing group – developed quarterly promotional plans
a. What is the timing for the elements of our marketing plan?
a. What budget do we need to accomplish our marketing objectives
i. Have each store reach a $20,000 weekly sales level
ii. Open new stores - Market knowledge is a core competency, as Starbucks is number two in the world for the most chains opened, behind McDonalds. There are few Starbucks that are closed due to lack of success, which is a testimony to the marketing professionals. They know exactly where to open a store, making sure that there is a lot of traffic...