MBA5008 - Copy

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School

Gannon University *

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Course

5008

Subject

Business

Date

Jun 10, 2024

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docx

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7

Uploaded by dicarlo002

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Using Analytic Techniques to Add Meaning to Data Maria DiCarlo Capella University Applied Business Analytics December 26, 2023 Starbucks Corporation, the global coffeehouse giant, has become synonymous with premium coffee experiences, shaping the contemporary coffee culture worldwide. This
introduction explores the rich background of Starbucks, diving into its historical roots, mission, platforms, product offerings, and competitive landscape, drawing insights from a diverse range of sources to provide a comprehensive overview. Founded in Seattle, Washington, in 1971 by Jerry Baldwin, Zev Siegl, and Gordon Bowker, Starbucks initially operated as a single store that primarily sold high-quality coffee beans and equipment. Inspired by the rich coffee culture of Italy, the founders aimed to create a space where customers could experience the art of coffee roasting (Petruzzello, 2023). The brand rapidly expanded throughout the 1980s and 1990s, transforming into a global phenomenon. Today, Starbucks is not merely a coffeehouse chain; it is a cultural phenomenon that has redefined the way people perceive and consume coffee. At the core of Starbucks' success is its unwavering commitment to its mission "to inspire and nurture the human spirit—one person, one cup, and one neighborhood at a time." This mission underscores the company's emphasis on community, sustainability, and creating meaningful connections. Starbucks prioritizes ethical sourcing, supporting farmers, and minimizing its environmental footprint, aligning its business practices with social responsibility. Starbucks operates through various platforms, including its iconic coffeehouses, drive-thru locations, and a robust mobile app (Peiper, 2023). The company's product range extends beyond traditional coffee, encompassing a diverse array of beverages, pastries, and merchandise. Starbucks has successfully adapted to evolving consumer preferences, introducing innovations like the Pumpkin Spice Latte and continuously expanding its menu to cater to diverse tastes and preferences. Starbucks' competitive advantage lies in its ability to blend innovation with a commitment to quality. The company has successfully created a unique atmosphere in its
stores, combining ambient settings with the irresistible aroma of freshly brewed coffee. This distinctive customer experience, coupled with a global presence and an extensive loyalty program, positions Starbucks as a leader in the highly competitive coffee industry. Starbucks faces competition from a range of players, including global chains such as Dunkin' and local artisanal coffee shops. The industry dynamics are influenced by factors like consumer trends, economic conditions, and evolving preferences. Starbucks has navigated these challenges by embracing digitalization, investing in technology, and staying attuned to shifting consumer demands. Graphical Representations of Data 12/5/2 2 1/24/23 3/15/23 5/4 /23 6/2 3/2 3 8/12/23 10/1/2 3 11/20/23 1/9/24 2/28/24 0 20 40 60 80 100 120 Scatterplot of Highest Stock Prices Time in Days Stock Prices in U.S Dollars To generate a scatterplot depicting the highest stock prices, start by confirming that the information from the Date column (column 1) and the High column (column 3) is arranged in consecutive columns and highlighted. Then, navigate to the Insert tab, click on Charts in the
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