Marketing Principles Starbucks
Marketing Principles Assignment
FTDipMM13
Group Members:
Krysten-Ann Vatsaloo CT0190453
Nurul FarahQuraishia Bte Andin J S CT0190883
Chua Zhi Yang CT0190392
Pek Zhi Ying Regina CT0190843
Cyrus Casper Francis CT0189281
Yolanda Teo CT0190745
Ranked 88th top brand in the world in 2012, and 91st in 2013 (Interbrand, 2013), Starbucks has come a long way from being a tiny shop selling an assortment of coffee beans and distributing coffee samples, to becoming a top global brand. Hence why we have picked Starbucks to be our chosen brand for this group assignment.
The History and Background of Starbucks
Starbucks first opened its doors in 1971, in Pike Place, Seattle, Washington by owners Jerry Baldwin, Zev Siegl and Gordon Bowker, and initially sold coffee beans and coffee-making equipment. In 1981, the 3 owners hired Howard Schultz to be the Director of Retail Operations. Schultz had proposed to them the idea of selling drinks as well, and not just coffee beans and equipment, but his proposal was rejected. Schultz left Starbucks in 1986 and went on to start his own chain of cafes called Il Giornale. The year after that, Starbucks owners Baldwin, Siegl and Bowker sold their company to Schultz, who then proceeded to rename his chain of Il Giornale cafes to “Starbucks”. Having conquered his expansion in Seattle, Schultz stared opening more stores within the U.S., and then internationally.
With over 20,000 stores worldwide, Starbucks has become the fastest expanding coffeehouse in the world. The opening of 680 stores in the past 13 months has “helped boost the coffee company’s 4th quarter fiscal 2014 revenue by 13%” (Forbes, 2013), proving to still have what it takes to be a top respected coffee company in the world.
Starbucks’ Target Customers
Howard Schultz set Starbucks to be a
FTDipMM13
Group Members:
Krysten-Ann Vatsaloo CT0190453
Nurul FarahQuraishia Bte Andin J S CT0190883
Chua Zhi Yang CT0190392
Pek Zhi Ying Regina CT0190843
Cyrus Casper Francis CT0189281
Yolanda Teo CT0190745
Ranked 88th top brand in the world in 2012, and 91st in 2013 (Interbrand, 2013), Starbucks has come a long way from being a tiny shop selling an assortment of coffee beans and distributing coffee samples, to becoming a top global brand. Hence why we have picked Starbucks to be our chosen brand for this group assignment.
The History and Background of Starbucks
Starbucks first opened its doors in 1971, in Pike Place, Seattle, Washington by owners Jerry Baldwin, Zev Siegl and Gordon Bowker, and initially sold coffee beans and coffee-making equipment. In 1981, the 3 owners hired Howard Schultz to be the Director of Retail Operations. Schultz had proposed to them the idea of selling drinks as well, and not just coffee beans and equipment, but his proposal was rejected. Schultz left Starbucks in 1986 and went on to start his own chain of cafes called Il Giornale. The year after that, Starbucks owners Baldwin, Siegl and Bowker sold their company to Schultz, who then proceeded to rename his chain of Il Giornale cafes to “Starbucks”. Having conquered his expansion in Seattle, Schultz stared opening more stores within the U.S., and then internationally.
With over 20,000 stores worldwide, Starbucks has become the fastest expanding coffeehouse in the world. The opening of 680 stores in the past 13 months has “helped boost the coffee company’s 4th quarter fiscal 2014 revenue by 13%” (Forbes, 2013), proving to still have what it takes to be a top respected coffee company in the world.
Starbucks’ Target Customers
Howard Schultz set Starbucks to be a