Marketing Plan of Starbucks
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Marketing Plan of Starbucks
To begin with, Starbucks Coffee Company has started its operation in North America; and since then, it is considered the leading roaster and retailer of finest coffee in the world market. Starbucks has 931 retail branches; as well as 75 airport coffee stores across different countries. Relatively, the company’s main goal is to establish the coffee company with high standard brand of coffee in the international market. And, in order to achieve this objective Starbucks has been continually expand its retail operations, and its fastest delivery services; as well as its specialty sales operations world wide. In addition to that, the introduction of new products and the continuous development of new distribution channels have largely contributed to worldwide success of the company. In order for a company to reach its peak of success; it must have a proper implementation and execution of a strategic marketing plan. A proper positioning and identification of a target market are two of the important factors in promoting its products and services to the consumers effectively and efficiently. In this connection, Starbucks has been able to carry out its commercial success all over the years now through its marketing and targeting strategies; as well as through its competitive environment. At the same time, the company has been able to transform its consumer experienced products and services into highly profitable business in the world.
Furthermore, Starbucks always considers its wide range of employees as one of the most important assets of the company. The company and its management believe that what ever the success of their business, it must be equally shared to the people behind it; and they are their employees who have been working dedicatedly for the company to succeed. In view thereof, the company gives its all employees health care benefits package; as well as above minimum starting salary worldwide. As much as Starbucks’ strong commitment to its employees’ well being, the company is even committed to its environment condition. The company has been doing its best to be a big part of the environment-friendly communities which have serious concern to the safe product usage. The company and its management always consider that the welfare of the people, factories, plants and products are linked relatively. This is the reason that Starbucks recognized worldwide as one of the coffee store in the globe that has significant contributions to local charities that support on children, the environment, the homeless as well as the AIDS victims. Financially speaking, Starbucks has been one of the solid companies in the world that has highest solid earnings and return of investments. The company has been managing to continue healthy and competitive operations that expand its empire overseas. In fact, Japan was the first Starbucks expansion outside of North America. And, eventually, it has still more plans to open coffee stores and joint ventures in other countries.
Aside from that, Starbucks has been significantly competitive in the world market because of its mission, vision and goals that provide high value products to its customers; and above anything else, when someone hears about Starbucks, it only means high quality gourmet coffee business. One more important thing about the company, it has the unique differentiator strategy, which means that the company has individualized each outlet based on its location and environment. The company always thinks of the additional products that would suit to the culture of the environment of the consumers. In the same manner the company focuses more on the increase of its profitability and return of investment compared to its contemporaries. The company’s main objective is to strengthen its recognition world as the leading provider of premium beverages in the world. And, another corporate strategy that the company has is the acquisition that allows the company to purchase other competitors industry that will give Starbucks a great chance to increase its profits and gain market share. Like what it did to Carbou Coffee Company Inc.; by acquiring Caribou, Starbucks can merge administrative and organizational costs into one. In the same fashion, Starbucks has the ability to repositioning newly acquired coffee business into low-priced market scheme strategy; lowered than Starbucks. In other words, the new company acquired has the potential to gain higher revenues that can be generated and directed towards Starbucks being its parent company. This is the reason that Starbucks has remained focused on providing superior customer service products and services with world class quality among its competitors in the world market. Besides, Starbucks has its unique competitive advantage over its competitors that allows the company to charge a premium for its world-class products and services.