Starbucks Marketing Plan

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Starbucks Marketing Plan Katie Tewell Bethany Odom Kelly Snider December 12, 2006 Executive Summary What was once a small coffee shop opened by Gerald Baldwin, Gordon Bowker, and Ziev Siegl in 1971, Starbucks Coffee Company has grown into the number one specialty coffee retailer. With over 10,000 coffee shops in more than 30 countries, of which 4,200 are licensed and franchised and 6,000 are owned, the company’s main objective is to establish Starbucks as the “most recognized and respected brand in the world,” (Moon). Currently, Starbucks is relying on retail expansion, product innovation, and service innovation to achieve a long-term goal once set by current chairman Howard Schultz: “The idea was to create a chain of coffeehouses that…show more content…
• Market Growth o Reports show in 2002, the number of specialty coffee drinkers has become the market’s biggest growth. o An estimated one-third of all U.S. coffee consumption takes place outside of the home and in places such as offices, restaurants, and coffee shops (Moon). SWOT Analysis • Strengths o The company is good at taking advantage of opportunities. o Starbucks is very profitable and has a strong financial base, therefore allowing the company to undertake new business ventures. Revenue increased to $5294.2 million in 2004, a 29.9% increase from 2003 (DataMonitor) Profits increased to $610 million in 2004, a 43.7% increase from 2003. Net earnings increased 46% (SWOT). o The company is internationally recognized and has a global presence. Their reputation is one of fine products and services. Almost 9,000 cafes in almost 40 countries (SWOT) Widespread brand recognition, which in turn becomes brand preference, and ideally eventually brand loyalty Strong customer base o Respected employer Values its workforce Voted onto Fortune’s “Top 100 Companies to Work For” (2005) o Strong ethical values and mission statement o Disciplined innovator Understands the Adapt-or-Die theory of marketing Has the ability to roll out new products relatively quickly, which translates into a considerable competitive advantage o Clusters company units Expands business with the continuing growth of the coffee market, especially in

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