Marketing Strategy
TABLE OF CONTENTS PAGES
Executive Summary 3
Background 4
Introduction 5
Part 1: Current Situational Analysis 6 1.1 Macro Environmental Analysis 6 1.2 Micro Environmental Analysis 8 1.3 Internal Analysis 9 1.4 SWOT Analysis 12
Conclusion 13
Part 2: Recommendations 14
2.1 Mission 14
2.2 Objectives (SMART) 14
2.3 Segmentation, Targeting & Positioning (STP) 14
2.4 Marketing Mix (7P’s) 16
Implementation & Control 17
Conclusion 17
Appendices 18
References 25
Executive Summary
This report provides an analysis and evaluation of the current situation and prospective profitability of Starbucks. It also looks at the threats and weakness of Starbucks and how they can be dealt with by taking advantage of their strengths and opportunities.
Starbucks, a leading specialty coffee retailer in the world has been selected because of its strategic approach in responding to external pressures as well as their strong capabilities in sustaining themselves in a highly competitive environment. Their approach to product development, technological advancement and in providing a unique experience would lend to them establishing themselves in Trinidad and Tobago.
As the foundation for investigation, PESTEL analysis, Porter’s 5-forces Model and Value Chain have been applied. They were used to analyze the macro, micro and internal factors with the given limitations for each model.
The report found that the major areas of threats are dependency on suppliers, price sensitivity that is affected by the global economic recession and competition.
Despite the
Executive Summary 3
Background 4
Introduction 5
Part 1: Current Situational Analysis 6 1.1 Macro Environmental Analysis 6 1.2 Micro Environmental Analysis 8 1.3 Internal Analysis 9 1.4 SWOT Analysis 12
Conclusion 13
Part 2: Recommendations 14
2.1 Mission 14
2.2 Objectives (SMART) 14
2.3 Segmentation, Targeting & Positioning (STP) 14
2.4 Marketing Mix (7P’s) 16
Implementation & Control 17
Conclusion 17
Appendices 18
References 25
Executive Summary
This report provides an analysis and evaluation of the current situation and prospective profitability of Starbucks. It also looks at the threats and weakness of Starbucks and how they can be dealt with by taking advantage of their strengths and opportunities.
Starbucks, a leading specialty coffee retailer in the world has been selected because of its strategic approach in responding to external pressures as well as their strong capabilities in sustaining themselves in a highly competitive environment. Their approach to product development, technological advancement and in providing a unique experience would lend to them establishing themselves in Trinidad and Tobago.
As the foundation for investigation, PESTEL analysis, Porter’s 5-forces Model and Value Chain have been applied. They were used to analyze the macro, micro and internal factors with the given limitations for each model.
The report found that the major areas of threats are dependency on suppliers, price sensitivity that is affected by the global economic recession and competition.
Despite the
References: Central Bank, 2012, ‘Unemployment Rate’, Central Bank viewed 6 December 2012, www.central-bank.org.tt Drury, C, 2004, ‘Management and Cost Accounting’ 6th ed Ministry of Finance, 2012, ‘Growth Rate’, Ministry of Finance, viewed 6 December 2012, www.finance.gov.tt Hamilton, L, 2009, ‘The International Business Environment’, 1st ed Hitt, MA, Ireland, RD & Hoskisson, RE, 2009, ‘Strategic Management: Concepts & Cases’, Cengage Learning Ibis World, 2012, @Industry at a Glance’, Ibis World viewed 6 December 2012, www.ibisworld.com Kotler, P., & Armstrong, G. (2006), 'Principles of Marketing ', 11 Ed, New Jersey, Prentice Hall International, Inc. Kotler, P. & Keller, K., L, 2009, "Marketing Management", 13th Ed, New Jersey, Pearson Education, Inc. Macroaxis, 2012, ‘Starbucks number of employees’, Macroaxis, viewed 6 December 2012, http://www.macroaxis.com/invest/ratio/SBUX--Number_of_Employees. Newsday, 2010, ‘Piggott urges Cocoa Board-Return to Glory Days’, Newsday viewed 6 December 2012, www.newsday.com.tt Porter, M.E Simon, B, 2009. Everything But the Coffee: Learning About America from Starbucks. 1st ed. Berkeley and Los Angeles, California: University of California Press. Trinidad Parliament, 2012, ‘OSH Act of Trinidad and Tobago of 2004’, Trinidad Parliament viewed 6 December 2012, www.ttparliament.org. Willan, M, 2010, ‘Marketing Hand-outs’, London School of Business and Finance.