Hidden Potential

The company can ensure that it can compete effectively by market share, product quality, product life cycle, customer loyalty, competition's capacity utilization, technological know-how, control over suppliers, and distributors.

Portray the competitive strategy of the (competing) firms using the grid of “strategic target” and “source of competitive advantage”.

In Amanda Roadarmel’s essay “Starbucks: More Than Just Coffee” published in the Arak Journal, she describes the many reasons why people go to Starbucks and the marketing ploys behind them. Using college students as one of her main examples, she describes the ways in which Starbucks caters to their customers. She argues that Starbuck’s main draw is not their food and drink but the lifestyle that is associated with the chain. This lifestyle is what draws people to pay four dollars for coffee as the consumer sees the price as not just a coffee price but the price its cost for the comfort of being a Starbucks person. Starbucks describes its average consumer as middle aged, well-educated, middle class Americans.

 Insight into the behavioral, social, emotional and motivational attributes of our customers or end users

Today in the world of modernism, it is extremely common for individuals to require an extra boost in order to be able to stay energized throughout their work or school day. Some people consume energy drinks, and others require a cup of coffee every morning. For most people, they simply do not have the time to drink a cup of coffee out of a mug at home where they can't take it along with them. That is why it is essential for the public to have a portable coffee mug. For the marketing assignment, the product category that will be highlighted in this paper is a cup, more specifically, a traveling coffee mug, why this product was chosen, the history of cups and traveling coffee mugs, and three famous traveling coffee mug companies and why they

As warranted, the café will raise prices to boast brand image. Prices communicate a perceived value of a product; so if set too low, the customers might assume that the beverages are inferior compared to the competition

With all these literary devices and techniques used, it is not hard to stay on the same track as Ruzich. The readers will more or less be able to reach the same conclusion and have the same idea as she has. The article has clearly shown that many people have adapted Starbucks’ use of in-store language and it makes them feel like they belong. In truth however, the use of in-store language is an advertising scheme that has the end goal of manipulating, persuading and selling its well-known products to the “average joe” consumer (440). In-store language is used to implant the idea of Starbucks into the consumer’s mind.

Companies often use a (CPM) – Competitive Profile Matrix to better understand their external environment as well as their competition within the industry they operate. The matrix identifies a company’s key competitors and draws a comparison using the industry’s critical success factors. The analysis also reveals a company’s strengths and weaknesses against its competition, making them aware of problematic areas needing improvement and also areas that are doing well and need to be protected (See Appendix F).

Value is also perceived differently between customers, and is relative to the value customers perceive is available from market alternatives (Smith & Colgate, 1988). Customers may choose to shop at Smiggle over alternatives such as Kiki K because they may perceive Smiggle to have similar quality products at a lower monetary cost. Conversely, other customers may not place a high importance on colour and aesthetical appearance when shopping for a pen, and consequently may take their money to somewhere with more standard office pens, such as a newsagent. When assessing value, customers only factor in features of a product which they deem are important (Kotler et., al). Compelling value propositions must be created in order to entice customers and meet their specific demands (Smith & Colgate, 1988). Smiggle offers products that are functional, affordable and are creatively and colourfully designed to inspire fun in school and work tasks. Customers match their expectations to Smiggle’s value proposition, and if a customer believes the product does not hold the benefits it is supposed hold, the customer will be dissatisfied (Kotler et., el). Therefore, Smiggle must either meet or exceed customers’ expectations in order to satisfy them. This process is integral to the ‘mutual exchange’ characteristic of marketing, because companies must gauge demand and then deliver value in

Today’s organizations fail to realize the value of their customers when it comes to the success of their business. Without customer loyalty the success of your business will always be uncertain. Organizations must sensitively tailor the designs of a successful firm to the particular challenges of understanding, attracting, and keeping valuable customers. “Having satisfied customers just aren’t good enough”. Kenneth Blanchard and Sheldon Bowles, co-authors of Raving Fans, believe this concept is needed to have a successful business. I agree with this concept of customers being the focal point of any business. I would want more than just a satisfied customer; I want a “Raving Fan”.

Furthermore, this particular topic helps the business world in so many ways. Competitiveness, Strategy, and Productivity are the three important characteristics of any business. Competitiveness in this chapter refers to the effectiveness of an organization in the marketplace similar to the other operations that offer familiar products or services. Strategy is known to denote a particular plan for achieving

The demand for coffee shops is born from the increased number of individuals seeking coffee brewed outside of the home. This creates a larger market for coffee shops. An increased amount of people are starting their mornings off by purchasing breakfast and a cup of coffee away from home (Tuttle 2014), more people are enjoying gourmet coffee (NCA National Coffee Drinking Trends 2015 Infographic), and younger generations are demanding more coffee and coffee drinks from coffee shops (Tuttle 2014, S&D Coffee and Tea inc. 2014, Statista 2015). Coffee shops must compete with at home coffee, work place coffee, and teas for the caffeinated beverage markets (LN 2015). Demand for coffee within different markets varies, and provides competition for coffee shops. Single cup coffee makers, increasingly qualitative instant coffees, and gourmet beans are all sources of competition that could satisfy the demand for coffee. However, coffee shops are becoming more ingrained in social

Starbucks provide a large in store seating with free wi fi and a take-out service which only a few retail shops offer. The main target customers for Starbucks are office workers, with enough income, whom are able to afford the high prices of their products (Gaudio, 2003). The company has worked hard to establish itself as the brand leader with its branding as the most frequently drank coffee and noticeable brand logo. Introduction of promotions like the Starbucks Card, allows a more convenient way for a person to
pay for
your
drinks
and
earn
rewards
for
your purchase (Starbucks Coffee Company, 2011).
Furthermore, in‐store
promotions
accompanied
by
new
products and
amenities like free internet use are all strategies that Starbucks use to maintain their position in the market (Vasudha, 2011).

In the premium foods and coffees industry, there are substitute products. According to Mary Coulter, the best way to evaluate this threat is to ask whether other industries can satisfy the customer need that this industry is satisfying (Coulter). Other beverage industries can satisfy the customer's need for a drink, and other food industries can satisfy the customer's need to eat. There are obviously good substitutes to Broadway products and the threat is high. This is why it is very important for Broadway Cafe, to innovate and differentiate. By providing free Wi-Fi in the Cafe and marketing signature food products from the famous old recipes of Grandfather, Broadway Cafe can create different image than its competitors.

The approach offers a holistic view to track customer experience as well as identifying critical incidences. The real-time tracking approach enabled to identify a