Growth Analysis on Starbucks
| Product Development
Starbucks have achieved market penetration by promoting its products in many ways. Their promotion allows Starbucks product to be known all around the US. They are constantly improving their products and making new coffee flavors to give the consumers different choices at he moment of ordering. Their USP, which is quality, makes the costumer’s loyalty to the brand to increase therefore Starbucks has a constant demand from the costumers. Starbucks has developed new products for the existing coffee houses to attract a new market. Some new products that Starbucks has established are: breakfast and pastry products. With these products consumers have a different option when going to the coffee house, as well, as new consumers that are searching for breakfasts. Starbucks has established coffee houses all over the world. They are constantly trying to enter new countries to offer their worldwide known products. An example of this can be the recent opening of the first Starbuck in Ecuador. This is a way to analyze Ecuador’s market and make further decisions for implementing more coffee houses in Ecuador. Starbucks has developed diversification by implementing their new products in the new market. These products are usually based on the country’s culture and demand, which are different form Starbuck’s original products.
We think that Starbuck is going to growth because based on an article in which it stated that Starbucks’s profit was better than predicted. This is a clue to infer that Starbuck’s is gaining its lost consumers and loyalty to the brand. By being constantly trying to enter new countries and offering their products, is also a way that Starbucks is trying to expand its market. All these factors and much more are essential for the growth of Starbucks in the US as in other counties.
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