Unit 2 Starbucks Marketing Principle

Unit 2 Starbucks Marketing Principle Assignment

introduction

Starbucks, which includes the Coffee House chain as a global coffee company. American-based company headquartered in Seattle, Washington. The company was started in 1971 and in more than 40 years of business, the company has become a major global player due to its aggressive expansion approach. The company earned revenue of approximately US $ 15 billion in FY 2013. The company currently works in over 60 countries and is known worldwide for its premium brand of high quality coffee and excellent service. Unit 2 Starbucks Marketing Principle Assignment focuses on marketing principles implemented by Starbucks, which has become a global success in such a short time.

Also read:-Unit 2 Starbucks Marketing Principle Assignment

Starbucks, assignment help
Work 1: Understanding the concept and process of marketing
Explain the different elements of the marketing process in Starbucks
Definition: According to the Chartered Institute of Marketing, marketing is considered to be responsible for "marketing management process, which is responsible for identifying, estimating and satisfying customers' needs beneficial" (Wilson, 2011).
The Association of American Marketing defined marketing as an activity that processes a message and delivers it to customers who value customers, customers, partners and society.
SWOT analysis on Starbucks will help to identify Starbucks's marketing process in detail (Jones, P.):

Strength

Starbucks maintains high brand value and reputation in the world operating in more than 60 countries and is ranked 91st in the global best brand in 2013.
Starbucks offers high quality products to all its stores worldwide, even if it is the result of production costs for the company.
Starbucks's idea of ​​making coffee shops available at the most sought-after place has been its strength, and opening it in a cluster increases its demand.

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Weaknesses
The biggest drawback of Starbucks is that it is more expensive than other global brands.
High reliability in the US market where the company runs more than 8000 stores
US coffee culture can not be the same in the rest of the world, and therefore the demands of Starbucks are reduced in some parts.

chance:
Expanding in emerging and developing markets because the US market is already full of Starbucks coffee shops due to aggressive expansion by the company.
The marketing mix and offering various products, such as juice and tea, also specially offers wide scope in those countries where coffee beverage is not the preferred choice.

to risk:
Starbucks has to face high competition from local and global players. Its main competitors are McDonald's, Dunkin brand, Costa Coffee etc.
The economic recession of 2008 was a major setback for Starbucks because consumers restrict their budget and stop spending in premium products.
Changing the taste and taste of the consumer by staying healthy and healthy is another danger to Starbucks.
Starbucks and Integrated Marketing Communication: Integrated Marketing Communication Approach is where all the steps of marketing, such as marketing and promotional activities, advertising, direct or online marketing, developing public relations, etc. all work together rather than working differently. To be ahead of its competitors, Starbucks has been able to use integrated marketing strategies with great effect. Some of the important attractions of their strategy are: Loyalty programs for existing customers, My Starbucks Idea program is used to take customer feedback through the use of social media for people's participation, launching Starbucks cars. Customers advertise security features, reward people through morning coffee Mobile applications Using Shan, sending postcards to subscribers on your birthday, etc. (Ship, 2013).

Starbucks Marketing Strategy:

Product Discrimination: The major marketing strategy adopted by Starbucks as a result of its SWOT analysis is product discrimination. The company uses differentials such as product mix, i.e. selling different varieties of products that offer enough items to customers to choose and even optimize it (Moon, 2003).
Highest Customer Service: With its high quality and highest customer service, the company has been successful in establishing itself as a leading brand which makes it unique from its rivals (Moon, 2003).
Coalition and Merger: Starbucks believes in the merger and acquisition of companies rather than following the franchising approach. Teavna, Bay bread, Evolution Fresh are some of the major acquisitions that have been made by the company to comply with the product development approach (Gianfai, 2014).
Geographic Diversity: Starbucks is another strategy that makes it different from others, it is an approach to establishing and implementing it in emerging markets as well as to successfully implement it.
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Marketing Audit of Starbucks: While analyzing the performance of Starbucks's past seven years, it can be seen that from 2008 to 2011, the company saw a sudden drop in sales and in revenue

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