...6 Target Markets 6 4. Marketing Program 7 Product Strategy 7 Price Strategy 7 Promotion Strategy 8 Place Strategy 9 5. Implementation Plan 10 6. Evaluation and Control 10 Possible Deviations 10 Possible Solutions 10 7. Bibliography Company Description Starbucks Corporation is one of the largest coffee companies that offer a variety of coffees, teas, and pastries. Starbucks began in 1971 with its first store in Seattle’s historic Pike Place Market. Now with over 16,000 stores worldwide, it’s one of the top competitors in the coffee industry. This company also has partnership through a specialty sales group and supermarkets. Starbucks Corporation’s main objective is to establish itself as the most recognized and respected brand in the world. Starbucks has attempted to make itself a household name by making its products available in more than just their stores. Starbucks can be found in local grocery stores such as Kroger. In certain Kroger stores, shoppers can purchase a cup of their favorite beverage or buy a bag of their favorite flavor of Starbucks coffee. The company has also made their products available online. Product The product that would be marketed for Starbucks is a new Strawberry and White Chocolate Espresso. This would be a special-order drink that the customer can have made any way they would like. The Strawberry and White Chocolate Espresso can be served...
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...2 Four P’s Marketing Mix on Starbucks The marketing mix plays an important part in marketing. The purposes of the marketing mix are to use a combination of tools to satisfied the customers and obtain company goals. The marketing mix is referred as the four P’s: product, price, place, and promotion. “The elements are adjusted until a right combination is found that serves the needs of the product’s customers while generating optimum income”. (Marketing Mix, 2010, p. 1). By using the four P’s, most businesses have the ability to connect with consumers within the targeted market. The ability to create a successful marketing mix often has good results. However using the wrong mix can lead to failed marketing strategies which can result in the business dissolving. The key is not to get stuck on one mix; the combination of elements often has better results than just using one. This research paper will review all elements of the marketing mix and how each ones plays an important role that organizations must acknowledge in order to be successful. The first P in the mix is the product. The product is used to determine market needs, wants, and desires, to assess internal resources regarding satisfying market needs, wants, and desires with innovation, to develop process for market resource and product testing, and to forecast product life cycle. With this being said, the product would refer to a physical product or service in a company. The product would be used to satisfy a targeted...
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...Business plan: COMPANY: Blenz is a Canadian coffee company. The first Blenz coffee shop was opened in 1992 in Vancouver on the corner of Robson and Bute Street. Blenz has since grown to over 60 locations across British Columbia, Japan and the Philippines. Currently Blenz is planning to move into a new market providing affordable fresh coffee and other beverages to people every day. MISSION STATEMENT: Blenz Coffee has simple philosophy: use premium ingredients in beverages while striving to make each customer’s day better. Blenz coffee makes sure that costumer leave the store in a happier mood than when they arrived. Each drink is made just for Customer. Blenz coffee expert baristas individually prepare drinks with a personal touch, because they believe that an authentic latte should be made with latte art. Keys to Success Blenz Coffee has identified several keys which will be instrumental in the success of the company. * Develop the finest product. * Exceed customer expectations. * Employ strict financial controls. OBJECTIVE: Blenz Coffee's objectives are to build brand awareness and customer service excellence, while increasing sales. Blenz Coffee intends to utilize the following strategies to achieve these objectives: * Develop a high-quality menu of different and real coffee blends and other premium products. * Provide an excellent service experience, anticipating the needs of the customers and delivering the best service. * Influencing...
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...The demand for super tasting beverages has challenged most manufacturers to come up with many product designs released in the market today. The regeneration is so outstanding that the choice left now is for the customers to enjoy and produce as many recipes as the technology can allow. Milk is an ingredient that has usually been given to our domestic animals. This item is a very healthy product that the world cannot afford to ignore. Most consumers, however, claim that it is quite heavy to take it as it is after boiling. This explains why a milk frother and steamer had to come into the mind of an expert thinker. He most probably realized that foam could be produced from milk, which is quite light and fine to swallow and digest. The need for...
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...is today’s premier roaster and retailer of specialty coffee in the world. Starbucks purchases and roasts high-quality whole bean coffees and sells them, along with fresh, rich-brewed coffees, Italian-style espresso beverages, cold blended beverages, a variety of complementary food items, a selection of premium teas, and beverage-related accessories and equipment. The international coffeehouse has built one of the most powerful and recognizable brands in the world upon high-quality coffee and the unique "Starbucks Experience." Starbucks has sought to capitalize on its growing popularity through expansion; the addition of over 1500 stores in just over a year brought its total store count to over 16,600 in 2008. In fiscal 2008, the company's stores (retailer and licensed) generated US$ 10.4 billion in revenue. Starbucks first revolutionized the coffeehouse industry by marketing expensive, high-quality coffee as well as a "third place" between work and home - a warm, clean, and inviting environment where customers go to escape the chaos of daily life. Coffee throughout Europe In Europe the demand for coffee is growing smoothly, though not fast enough considered by coffee organisations. In Western Europe, the ICO (international Coffee Organisation) stimulates coffee consumption by introducing several programmes like the Positively Coffee Programme and the Health Care Professions Coffee Education...
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...all tend to have a to-do list a mile long that grows by the second, yet after eight-plus hours in our enclosed workplace we tend to yearn for our pillow, blanket, and bed. Instead of pressing pause on our day and waiting on our alarm clock to press play, let’s fast-forward right into the more exhilarating part of our day and make the most of our free-time. And to begin, what better way is there to rejuvenate our vitality than with an alcoholic-caffeinated beverage? Marketing Plan Phase I After a long day at the office, many find themselves looking for their second wind once they punch that clock at the end of their shift. All work and no energy for play can lead to a dull and monotonous life. Finding balance between responsibility and luxury is essential in steadying our own happiness equilibrium. We all tend to have a to-do list a mile long that grows by the second, yet after eight-plus hours in our enclosed workplace we tend to yearn for our pillow, blanket, and bed. Instead of pressing pause on our day and waiting on our alarm clock to press play, let us fast-forward right into the more exhilarating part of our day and make the most of our free-time. And to begin, what better way is there to rejuvenate our...
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...constituents; valuations of businesses or assets to assist clients with financial reporting and restructuring efforts; and focused consulting. The company’s operational consulting services comprise assisting clients with research administration opportunities and challenges; assisting clients to assist their strategic, operational, management, and financial challenges. Innova International serves an array of industries, including professional services, transportation services, healthcare, telecommunications, financial services, consumer products, energy and utilities, manufacturing, and food and beverage. The company was founded in 1996 and is headquartered in Boston, Massachusetts with major subsidiaries in Poland, China, and Japan. II. The Company: Hagan & Company Hagan & Company is one of the world’s largest food processing companies. Hagan occupies the first or second position in most product categories and invests heavily in established brands through marketing and research and development. Hagan’s growth has come through acquisitions and steady penetration into developing markets. The company operates about 500 factories in more than 100 countries and has more than 250,000 employees worldwide. Hagan is focused on people, products, brands, and markets. The company’s fundamental approach to business has been the creation of long-term sustainable value for their...
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...Knowledge and Behavior towards Caffeinated and Carbonated Beverages among High School Students Chapter One Introduction of the Study Chapter one is divided into five parts: (1) Background and Theoretical Framework of the Study, (2) Statement of the Problem and Hypothesis, (3) Significance of the Study, (4) Definition of Terms, and (5) Delimitation of the Study. Part One, Background and Theoretical Framework of the Study, presents the rationale and the reasons why the study is being conducted. Likewise, it describes the theoretical basis of the study as well as the conceptual framework. Part Two, Statement of the Problem and Hypothesis, describes the general goal of the study and the specific questions to be answered in the study with corresponding hypothesis to be tested. Part Three, Significance of the Study, enumerates the different beneficiaries and corresponding benefits that they can derive from the results of the study. Part Four, Definition of Terms, lists alphabetically technical terms used in this study. These terms are defined conceptually and operationally. Part Five, Delimitation of the Study, identifies the scopes and limitations encountered during the conduct of the study. It identifies the variables, the subjects, research designs and statistical analysis procedures used in the study. Likewise, it specifies the location and time of the conduct of the study. Background and Theoretical Framework of the Study Soft drinks and sodas could...
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...Executive Summary Starbucks is the leading retailer and roaster for brand specialty coffee in the world. It has over 7,500 stores located worldwide. As Starbucks continues to expand, it will encounter all sorts of new product markets, with new and demanding customers for unique and appealing products. Starbucks has begun by introducing an extension of the Frappuccino line targeted to the non-coffee drinker. Entering this new market, Starbucks faces many challenges from having to compete to retain brand recognition of its primary products, yet increase awareness of its new product line. Our analysis and research of the market have resulted in keys findings as follows: • The new Frappuccino blended beverages, also known as the Summer Drink flavors will help Starbucks reposition itself in the developing non-coffee iced-beverage market; Starbucks will also need to enhance the product perception to maintain the perceived high quality. Customers of this segment are sensitive to taste and quality of food product and nutritional data. • With this new line extension, Starbucks will be facing many new competitors such as Jamba Juice, Orange Julius and other local non-coffee iced-beverage providers. Special care must be implemented to maintain Brand equity for it’s primary product, and not become to diversified the current customers seek alternatives. • Based on our research, we found that the married couples age 25-54 with children to be the primary potential target market...
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...Coumans, Andrea Garcia, Mary Hale, Paula Warren MKT 421 April 30, 2012 Mark McClintock Starbucks New Product Marketing Plan When a firm is developing a new product it is important to create a marketing plan for that product. The plan begins by researching the products competitors are offering and the products competitors are lacking. The new product should meet the needs of consumers not currently met in the market. This offers the new product a greater chance of success. The next step in developing the plan should include an analysis of the strengths, weaknesses, opportunities, and threats that the new product will face. The plan should also include the marketing approach and implementation to bring the new product to market. The market approach includes product, price, place, and promotion. Each item is carefully considered because they are important to the products success. A detailed marketing plan is outlined below for Starbucks new product, the peanut butter cup Frappucino. Organizational Overview Starbucks opened its first store in 1971 in Seattle, Washington, at Pike’s Place Market. Starbucks is known for outstanding coffee, tea, and treats as well as a warm, inviting atmosphere. Starbucks’ Mission is “to inspire and nurture the human spirit – on person, one cup and one neighborhood at a time” (Company Profile, p. 1). As of October 2, 2011 the total amount of Starbucks...
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...“We aren’t in the coffee business, serving people. We are in the people business, serving coffee” Howard Schultz, Starbucks Chairman and Chief Global Strategist Fortune Magazine, Vol. 149 No. 2 Title: Submit To: Completed By: Starbucks: “The Non-Coffee Treat” P.V. Sundar Balakrishnan Matthew Carmean Partner Julie Anstett Partner Julia Toochette Partner Joel Ennis Partner Joey Eaton Partner Trang P. Huynh Partner Table of Contents TABLE OF CONTENTS...............................................................................................................................................................2 EXECUTIVE SUMMARY............................................................................................................................................................3 MANAGERIAL PROBLEM.........................................................................................................................................................4 SITUATION ANALYSIS...............................................................................................................................................................4 Company ................................................................................................................................................................................. .4 Customer .....................................................................................................................................
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...diseases. Helps heal cuts and wounds and keeps gums healthy. Protects you from infections by keeping your immune system healthy. Increases the amount of iron your body absorbs from some foods. Conflicting Research Drinking high levels of unfiltered coffee may increase your risk of slightly higher cholesterol levels, according to MayoClinic.com. Drinking at least two cups of coffee per day may also increase your risk of heart disease if you have a genetic mutation that slows down how quickly your body breaks down caffeine. The Harvard School of Public Health, however, examined the relationship between mortality and coffee consumption in two separate studies -- a combined study of about 130,000 volunteers -- and found no correlation between coffee consumption and increased risk of dying from any cause or condition. The 2004 study even accounted for people who consumed up to six cups of coffee every day. Risky Coffee Drinks Most research pertaining to coffee and its health effects is based on coffee that is black or contains some sugar or milk rather than the fancy coffee beverages you can buy at a coffeehouse. These beverages contain coffee but also are frequently high in calories. For instance, a 24 oz. mocha iced blended coffee drink with whipped cream may contain up to 500 calories; this accounts for about 25 percent of the average person's daily calorie intake, according to the Harvard School of Public Health....
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...CONTENTS 1. Introduction ............................................................................................................5 2. External Analysis ...................................................................................................5 2.1 Wider Macro-Environmental Analysis ............................................................5 2.2 Industry analysis .............................................................................................7 2.3 Industry Life cycle ..........................................................................................9 2.4 Competitor Analysis ..................................................................................... 10 2.5 Industry‟s Critical Success Factors ................................................................ 10 2.6 Opportunities & Threats................................................................................ 11 3. Internal Analysis .................................................................................................. 11 3.1 Starbucks‟s Strengths & Weaknesses ............................................................ 11 3.2 Evaluation of Starbucks‟ Main Capabilities .................................................. 12 3.3 Value Chain Analysis ................................................................................... 13 3.4 Starbucks‟ Main Internal Capabilities against industry‟s Critical Success Factors .......................................................
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...find out what McDonald’s is serving now in terms of beverages, and what other premium beverage restaurants (such as CCD, Starbucks) offer. We will be using direct qualitative research (focus group and depth interviews) to better define and understand the problem. We will then try to compare seemingly different companies like McDonald’s and coffeehouses such as CCD and Starbucks. The focus would be on determining what customers’ value in their favourite coffeehouses so that we could translate that experience into the experience of buying beverages at McDonald’s. In second step, we will be performing a descriptive market research. We will conduct a survey focussing on the topics which will come out of the exploratory research. We will be using a screener question first to find whether the respondent is qualified for the survey and to check if the participants of the survey can compare local coffeehouses and their experience at McDonald’s. Finally in order to analyze the data, we will be using the quantitative analysis (e.g., statistics and regression analysis) to test the various hypotheses which will be designed after the exploratory study to come to a conclusion. Secondary data analysis: Qualitative research Motivators for a Premium beverage: Based on the exploratory study we identified following are the major motivators for a customer to buy a premium beverage. Four common motivators to purchasing premium beverages: 1....
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...Strategic Marketing Plan for the Starbucks Coffee Company Table of Contents Introduction and background 3 Company mission, company objectives 3 Market definition and product or brand background 4 Evaluation of results and conclusion about problem 5 Situational Analysis 5 Internal analysis 5 Customer analysis 7 Industry analysis 8 Competitor analysis 11 Distribution and supplier analysis 11 SWOT analysis – Confrontation Matrix 12 Choice of option 13 Marketing objectives/ expected results 13 Marketing strategy 13 Target audiences 14 Brand and product position 14 Decisions regarding marketing mix elements 15 Objectives for marketing mix elements 15 Strategies and tactics for marketing mix elements 15 Financial indicators and budges 16 Evaluation criteria 16 Sources 16 Introduction and background Company mission, company objectives The first Starbucks café was opened in 1971 in Seattle’s historic Pike Place Market. It was only a small café, but it offered some of the world’s finest fresh-roasted whole bean coffees. The company’s name derives from Moby Dick, the novel was written by the American author Herman Melville in 1851. Starbuck is the first mate on a whaling ship named ‘Pequod’, he is an intelligent Quaker (religious group) and he is from Nantucket. The name evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Starbucks chairman, president and chief...
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