Business Research Methods -Starbucks

2508 WordsJun 15, 200911 Pages
University of PhoenixMay 4, 2009Starbucks Coffee Company originated in 1971 as a small coffee house in SeattleWashington. Over the years, Starbucks has grown into a global company offering its exclusive brand coffees in domestic and international markets. Unfortunately in recent years, increased competition and market saturation has caused the company to re-evaluate its business strategies often leading to the closure of many of its stores in many recently expanded areas. This business problem and optional proposal is designed to address the issues Starbucks is facing as a result of the increased competition and market saturation in the coffee industry. Using statistics to remedy the issue, Team C will develop a hypothesis to study using…show more content…
Analyzing surveys that were generated at the local Starbucks indicated that even though the price of Starbucks has rose in price, consumers are still willing to buy that product, especially when a competitor like McDonald 's sells it, as long as it bears the name Starbucks. The observations that have been analyzed are that Starbucks is known for providing a relaxing experience which can rival those of fast food restaurants. Starbucks has been known to modify their stores to embrace the coffee experience to entice consumers from every walk of life in local communities and throughout the world. "One of the benefits of combining primary research with secondary research is in the area of data triangulation. Data triangulation is when a piece of data, a finding, or a generalization is able to be verified with several different research methods." (Driscoll, 2006) For example, when conducting a study on how many college students drink Starbucks coffee, results indicate that "Coffee drinking appears to be on the rise, and this might not be a fad. The Dallas Morning News recently wrote an article about a specific new trend in cold coffee. In a Sept. 4 article, staff writer Teresa Gubbins says we have a "love affair with hot coffee."(Cooper,
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