Starbucks Marketing Management
I. OVERVIEW
Starbucks is a leading retailer and roaster for brand specialty coffee in the world. It has stores located in the United States, Canada, Europe, Asia and the Middle East. It retails a variety of hot and cold beverages, complimentary food items, coffee related accessories and equipment, and other non-food products through retail stores worldwide. More than 20 years ago, the idea of Howard Schultz to bring a European-style coffeehouse to the United States, was become real with Starbucks. Growth is the engine that keeps our company achieving its goal of being the number 1 company in the Coffee Industry.
II. PROBLEMS/OPPORTUNITIES
Should our company increase the number of new stores to continue growing its revenue and earnings and also to achieve its long term goal to have 30,000 stores worldwide?
Over years our company has built brand awareness and attracts many customers with the value products delivered to them. I think is the time to make some changes in one of marketing mix elements” promotion”. Should Starbucks Company include other elements in its promotion process such as sales promotion, coupon/discounts?
One of our company guiding principles is” To embrace diversity as an essential component in the way to do business”. What our company should do to maintain this uncompromising principle in the long way of success?
III. RELEVANT FACTS/DATA SUPPORT
To support the first opportunity of Starbucks Company to increase the number of stores and go worldwide I will present relevant data supports:
- Approximately 33 million customers visit a Starbucks restaurant each week worldwide. While it is very important to consider the fact that only in the United States there are over 166 million coffee drinkers and this number has been increasing rapidly over time. As we can see it is a huge coffee drinker market and Starbucks has only as we can estimate 1/6 of this market in the United States.
- In the first quarter of 2005 our company
Starbucks is a leading retailer and roaster for brand specialty coffee in the world. It has stores located in the United States, Canada, Europe, Asia and the Middle East. It retails a variety of hot and cold beverages, complimentary food items, coffee related accessories and equipment, and other non-food products through retail stores worldwide. More than 20 years ago, the idea of Howard Schultz to bring a European-style coffeehouse to the United States, was become real with Starbucks. Growth is the engine that keeps our company achieving its goal of being the number 1 company in the Coffee Industry.
II. PROBLEMS/OPPORTUNITIES
Should our company increase the number of new stores to continue growing its revenue and earnings and also to achieve its long term goal to have 30,000 stores worldwide?
Over years our company has built brand awareness and attracts many customers with the value products delivered to them. I think is the time to make some changes in one of marketing mix elements” promotion”. Should Starbucks Company include other elements in its promotion process such as sales promotion, coupon/discounts?
One of our company guiding principles is” To embrace diversity as an essential component in the way to do business”. What our company should do to maintain this uncompromising principle in the long way of success?
III. RELEVANT FACTS/DATA SUPPORT
To support the first opportunity of Starbucks Company to increase the number of stores and go worldwide I will present relevant data supports:
- Approximately 33 million customers visit a Starbucks restaurant each week worldwide. While it is very important to consider the fact that only in the United States there are over 166 million coffee drinkers and this number has been increasing rapidly over time. As we can see it is a huge coffee drinker market and Starbucks has only as we can estimate 1/6 of this market in the United States.
- In the first quarter of 2005 our company