Starbucks Marketing Plan

Topics: Coffee, Starbucks, Coffeehouse Pages: 9 (2621 words) Published: August 27, 2013
Assignment 1
Marketing plan:
Starbucks
(WORD COUNT 2479)

Juan Sebastian Ramirez

Dr. KK Tham

Bachelor of Business Administration

Principles of marketing

2013-05-31

Starbucks Corporation is an American coffeehouse chain established in Seattle Washington in the year of 1971 and was founded by Jerry Baldwin, Zaev Siegl, and Gordon Bowker. The three were inspired to sell high quality coffee beans and equipment by coffee roasting entrepreneur Alfred Peet, after he thought them his style of roasting the beans. Nowadays Starbucks is the largest coffeehouse company in the world, with 20,891 stores in 62 countries. Its mission is very clear: “to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time”. (Starbucks Company, 2013) Besides from providing its costumers with a wide variety of the most exclusive and finest coffee in the world, Starbucks principal objective is to “connect with, laugh with, and uplift the lives of our customers. Its all about human connection” (Starbucks Company, 2013) the company seeks keeping costumer loyalty, continue with innovation and expand to other geographic markets. Moreover, a crucial objective at this point is the creation of partnerships with other companies, considering the fact that this is a multinational spread all over the world and there is and undeniable need of working with different providers of food, technology, etc. As a matter of fact, this aspect is absolutely complex. Starbucks Company must create links and maintain relations with other companies in every single country in which they are settle, and similarly they must be guided and govern by the government laws and policies of every nation where they have a store.

Its competitive advantage is that they provide the most broad and premium coffee than any other coffee house company in the world: “We’ve always believed in serving the best coffee possible. It's our goal for all of our coffee to be grown under the highest standards of quality, using ethical sourcing practices. Our coffee buyers personally travel to coffee farms in Latin America, Africa and Asia to select the highest quality arabica beans” (Starbucks Company, 2013) Furthermore, Starbucks satisfies the local preferences through localization strategy. The sore ambience and affordability makes this company the preferred choice of the public. Starbucks products are on the maturity stage of the product life cycle. This is the longest period, where sales peak, and therefore the company maintains the maturity phase as long as possible. Nowadays Starbucks is experiencing a slow down on its profits and therefore as an strategy, the company has been introducing a large variety of products not only including beverages (tee, flavored water, yogurts, natural juices, etc.) and a wide assortment of food (patisserie, breads, desserts, sandwich, salads, etc.), but also souvenirs with the enterprise logo, which have potentially increase and maintain the sales of the company. Even though Starbucks is leading the coffee industry, its strongest global competitors are Dunkin’ Donuts and Mc Donald’s; and its strongest regional competitors are Nero Café and Costa Coffee (both based in Europe). Dunkin Donuts

The first Dunkin Donuts was opened in 1950 in Quincy, Massachusetts by William Rosenberg. Today, there are over 13,000 Dunkin Donuts located in 50 countries worldwide with sales of $6.4 billion in 2006. Dunkin’s headquarters is located in Canton, Massachusetts. Dunkin Donuts is known for their doughnuts and coffee. Over the years, Dunkin has introduced new products such as bagels, muffins, and breakfast sandwiches. In order to compete with the lunch crowd, Dunkin expanded their product menu to include pizzas and sandwiches. In order to compete with the specialty coffeehouses, Dunkin expanded their coffee offerings to include flavored coffees, lattes, coolattas, flavored hot chocolate and teas. While Starbucks appeals to...

Bibliography: Starbucks Company. (2013). (Starbucks, Producer) Retrieved 05 13, 2013, from www.starbucks.com: http://globalassets.starbucks.com/assets/F62C45CD8A8B4699BEFC60A2618F0431.pdf
Starbucks.com, “Our History.” Accessed Oct. 6, 2012. http://www.starbucks.com/about-us/our-heritage
Starbucks.com, “Coffee Sources”. Updated 2011. Accessed Oct. 8, 2012. http://www.starbucks.ca/responsibility/sourcing/coffee
Starbucks Corporation. “Fiscal 2011 Annual Report.’ Accessed Oct. 13, 2012. http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-reportsannual
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