Strategy For Conducting Market Research For Starbucks

Founded in 1985, Starbucks is one of the largest coffeehouse companies in the world with over 16,000 stores in 50 countries. This report evaluates major internal and external factors affecting Starbucks using various analytical techniques. Based on the Starbucks brand in UK, it identifies suitable marketing strategies for Starbucks to expand its business in the UK market within the next two years. In line with the chosen marketing strategies, recommendations for the marketing mix are discussed.

The population of consumers surveyed showed favorable responses to the idea of launching a new product line of lunch and dinner foods. Starbucks will continue to analyze the data further to determine the best strategic plan for the launch. Furthermore, additional research will classify these findings in order of power and will solidify the decision.

Former Starbucks Executive Scott Bedbury once said “Brands need to communicate that they are along for the ride. They are made of flesh and emotion. That they are made possible by people” (10 Quotes from Starbucks Executives, 2010, para. 6). Starbucks’ beliefs in customer service, community solitude, and a strong business core stretch far behind just a belief in a quality caffeinated product. “We make sure everything we do honors that connection – from our commitment to the highest quality coffee in the world, to the way we engage with our customers and communities to do business responsibly” (About Us, 2011, para. 4). Thus, this commitment is the motivation behind Marketing Team A’s proposed

Starbucks’ lead in the specialty coffee industry exemplifies the result of deftly executing a well-planned business strategy. Moreover, Starbucks is well positioned for what is expected to be a continuing rise in the popularity of specialty coffee products. The question before Starbucks’ leadership, however, is what avenues will lead to Starbucks’ goal of remaining true to its core, the highest quality coffee products while providing a “total coffee experience” for its customers?

Overall, Starbucks customer satisfaction scores began to decline due to their steps of service and customer centric service in the stores. Starbucks differentiated itself by providing more beverage choices and allowing the customers to customize their drinks. However, this worked against them because they were in heavily dense areas that contributed to longer wait time. Additionally, that led Starbucks customers to believe the coffee chain was focus on making money and building more stores not customer satisfaction. A poll of the customers “improvements to service,” particularly speed of service, was most mentioned.

Starbucks is undoubtedly an international brand. The history of coffee traces back to Ethiopia, Africa, India, Arabia, and Europe, and has been traded abroad since the 11th century. Understanding the demand and widespread market for coffee, Starbucks has triumphantly capitalized both the domestic market, and the varied international markets as well. Possessing about 6,500 retail sites worldwide, Starbucks’ net is spread across thirty countries and has been found as one of the most recognized brands all over the globe in equality to McDonalds and Toyota. This organization’s ability to build an international brand has been unprecedented- particularly since it represents a specialty

The main aim of the corporation remained the same: to be the leading company at selling exclusive coffee and increase market share in the North America, which was prosperously achieved. As a customer-oriented entity Starbucks place their clients in the centre of the business activity, having satisfaction of customers’ needs as a priority (Boşcor & Tălpău, 2011). Howard Schultz explains, “We are not in the coffee business serving people, we are in the people’s business serving coffee” (Schultz & Yang, 1999). Starbucks does not just sell coffee; it sells the “Starbucks experience”. The store designers with the HR and Operations departments have created a place where people would come back again and again. As of November 4, 2015 there are 23,132 Starbucks stores operating all over the world (Loxcel Geomatics, 2015) and they are not planning on stopping the rapid expansion. However, due to the cultural differences people have diverse needs, which cannot be met by using one universal international standard for every store in every country. Therefore, in order to gain necessary competitiveness in local markets Starbucks Corporation has to adapt its marketing mix so it could correspond to the existent demand. What strategies Starbucks Corporation applies entering new markets (like in Japan and Australia instances) will be discussed in the following

Starbucks can be categorized as one of the biggest and famous coffee company in the world. In 1971, Starbucks start its first business in Seattle. Nowadays, it owns a large amount of retailer stores which is more than 17,000 stores in 30 different countries (Scribd, 2016). The main product sold in Starbucks is coffee. Starbucks aims to provide their customers with high quality whole bean coffee and best coffee experience. Furthermore, it is more focus on two level of customers which are high end and upper middle class customers (Slideshare, 2016). The goal of Starbucks is to become the most recognized and well-known brand in the world ( Personal, 2010).

Detail Analysis SWOT Analysis Strengths * The reputation of brand name and image Strong brand name and image of Starbucks allow brand recognition and consumer retention. Therefore, the expanding of stores to other countries is easier and proficient.

A company may have an ideal product, but without proper positioning, identification of a target market, and a proper marketing plan a company would not be able to successfully market its products to consumers. Starbucks has been successfully able to convert an activity carried out at home to a commercial success through proper implementation and execution of its strategic intent.

Starbucks Corporation is a well-recognized franchise known for their high-quality coffee and sustainable culture, established in Seattle in 1971. The store was located in “Seattle’s historic Pike Place Market” (Starbucks, 2016) where they delivered the world’s premium fresh-roasted Arabic bean coffees. With Starbucks rich history, they opened New Zealand’s first store in 1998 along with other countries. Since the introduction, Starbucks has determined to be a unique brand and differentiation from the other fast food companies that operate in this particular industry. Instead of marked as a burger chain, Starbucks is distinguished as providers of rich traditional coffee with a strong connection with their consumers in the fast food industry. Besides coffee, Starbucks presents a variety of “tea, fine pastries…” (Starbucks, 2016), in accordance with customer preference. The Starbucks brand operates around humanity, for example, dedication to the “highest quality coffee in the world” (Starbucks, 2016). The main competition for Starbucks is Nestle, McDonalds, Dunkin’s Donuts and local coffeehouse/cafes.

Over the past twenty five years, Starbucks has been leading the coffee revolution and turned a dying industry upside down by mainstreaming their stores and creating a public fascination. From the beginning of Starbucks stores through 2006, they have opened stores all over the U.S. and will be taking it overseas. Starbucks is leading the coffee revolution and has expanded their reach all over the world. With this much growth, it is easy for the company to lose their edge by forgetting the reasons they have become so large from the beginning. In this analysis, I am going to go over an economic assessment, marketing

Starbucks Corporation is a globally well-known America company, who has been successfully maintained its stable loyal customer basis around the world. The company was initially established in Seattle, Washington, providing quality premium coffees with a superior level of customer service. The goal for Starbucks coffee is to grow under the highest standards of quality, using ethical sourcing practices, being dedicated in serving the world’s finest coffee and creating best customer experiences. Starbucks had made it.

The Starbucks Corporation is a roaster, marketer, and retailer of specialty coffee throughout the world, currently operating in more than 50 countries today (“Our Starbucks Mission”). Starbucks represents one of the most recognizable logos and companies across the globe today, continually expanding and diversifying their unique operations. The first Starbucks opened in Seattle, Washington in 1971 and since 1987 Starbucks has opened an average of two stores daily (Bonander). Starbucks’ success can directly be attributed to the quality and meaningfulness of their overall mission and vision for the global society. Starbucks aims to provide its customers with the highest quality coffee in the warmest and most welcoming setting; a setting where they feel embraced by their individual community and as if they belong to something or somewhere truly unique and identifiable to themselves individually. They constantly strive to engage with new markets, satisfying each community’s wants and needs with the utmost of respect for their cultures. In order to truly embrace and appreciate the quality behind Starbucks’ global strategy, it’s essential we recognize the foundation of their business and the derived successes of their worldwide contributions, their local efforts and how it applies to the Chicago area community in particular, and the ways in which Starbucks makes even the most foreign places feel local and community-oriented.

Starbucks is one of the world’s leading coffee bars, which has been open since 1971. To survive in the vastly culturally differentiated environment, they had to introduce new products such as teas for the Chinese market. On the other hand, to be able to increase their seasonal sales and gain a competitive advantage in the coffee market, Starbucks have introduced Pumpkin Spiced Lattes which are only sold in the autumn/winter season. To increase their sales during these months even more, they can introduce a