Marketing Plan: Phase l
This marketing plan will give an overview of the existing organization and describe a new product or service. An explanation of the importance of marketing for the selected organization’s success will be addressed. A SWOTT analysis on the new product or service will be written. In addition, the marketing research approach used to develop the marketing strategy and tactics for this new product or service will be stated (University of Phoenix, 2011).
Existing organization overview
Starbucks is the existing organization for the marketing plan. The first Starbucks opened in 1971. The company was located in Seattle’s historic Pike Place market. Starbuck has always offered some the world’s finest fresh-roasted whole bean coffees. Moby Dick inspired the owners for the name. Howard Schultz joined Starbucks in 1981, he walked in tasted his first cup of Sumatra and was hooked. Howard’s travels to Italy captivated him with Italian coffee bars and the romance of the coffee experience. Starbucks coffeehouses are number one with most coffee lovers. They only purchase and roast high-quality whole bean coffee. One can receive genuine service, in and inviting atmosphere. Customers come to Starbucks to chat, meet up and work. The company does not only sell coffee they also have a selection of premium Tazo teas, fine pastries, music, and other treats (Starbucks, 2011).
Starbucks wanted to give their customers a different experience from the begging. An also experience that celebrated coffee and the rich tradition, and a feeling of connection. Their mission is to inspire and nurture the human spirit, one person, on cup, and one neighborhood at a time. Today Starbucks has over 15,000 stores in 50 countries. Starbucks is the premier roaster and retailer of specialty coffee. They want to bring their heritage and exceptional experience to life (Starbucks, 2011).
Our company Starbucks is designing an exciting new product. The product is a better version of an already known idea. The new product is Peanut Butter Mocha Coffee. The coffee will be a delicious blend of espresso, real peanut butter pieces and a premium dark roasted coffee. It will be made from exceptional beans grown only in ideal coffee-producing climates and tend to feature distinctive flavors, which are shaped by the unique characteristics of the soil that produces them. It can be served hot or it can be instantly blended with ice. The coffee will sell for $6.00 our coffee can be prepared as a cup single cup coffee or it can be used with state-of-the-art coffee machines and varying portfolios of gourmet coffees. Our product will be available to all the businesses, schools, and restaurants. The Peanut Butter Mocha Coffee will be available to any market in need of our beverages. Like the Standard Coffee company states, “Our product mix for coffee delivery is extensive, developed to offer brands that satisfy tastes in varying markets.” Starbucks will provide the best Peanut Butter Mocha Coffee in the market.
Importance of marketing
At its base, marketing is about the strategies and tactics you use to identify and cultivate the market for your products/services - so it would seem to be important to overall organizational success. The philosophy is to enhance the services offered to both our consumers and staff. We seek to attract, motivate, and retain high-quality, competent, innovative employees through a market-competitive compensation program. This program facilitates a performance-driven culture and encourages excellence through an organization-wide incentive plan. Advertising is one of the most important elements in positioning a business as the region’s only academic medical center. All advertising must adhere to the brand style as established by our image ads, as well as basic brand standards.
The degree of importance is arguable based on the industry, but I can't think of any business that...
Please join StudyMode to read the full document