Starbucks - Marketing Plan Essay

5753 Words Jul 30th, 2008 24 Pages
Starbucks: Marketing Plan

A Market Analysis

Mission Statement and Objectives:

Starbucks advertises two essential mission statements. First and foremost, it strives to “establish [ourselves] as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while [we] grow(s).” (Starbucks) Reflective of its mission, Starbucks bases its strategic campaign and communications on six indispensable philosophies; structuring a pleasant work environment in which employees are treated with “respect and dignity,” incorporating diversity in all business aspects, purchasing, roasting and delivering fresh coffee, retaining satisfied customers, giving back to the community and environment, and developing
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In doing so, Starbucks positioned itself to welcome music lovers who could grab a cup of coffee and burn songs onto CDs. (Industry Snapshot).
In an article published by Billboard.com, it was announced that Starbucks and Apple joined forces by initiating a promotion where consumers can collect from 50 million free songs, chosen by Starbucks and its partners, by picking up download cards from participating locations. (Bruno) Ken Lombard, President of Starbucks Entertainment, says the point “is to enhance the company’s image as a music tastemaker and provider.” (Bruno) Starbucks tactics to remain a major player, if not the major player, in the coffee industry are well executed.
Competitive Analysis: McDonald’s, in addition to several other fast food vendors like Burger King, Dunkin’ Donuts, Panera Bread and independent coffee houses remain Starbuck’s toughest competition (Adamy). McDonald’s began introducing its espresso beverage products in 2001, and offers its product at a price between two and three dollars to compete with Starbucks between three and four dollars a cup coffee (Adamy). Similarly, Dunkin’ Donuts has recently implemented a plan to expand nationally (Adamy). On average, Dunkin’ Donuts coffee products cost approximately 20 percent less than Starbucks’ (Ball and Leung). In response, Starbucks has announced recent
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