How Forever 21 Reached Global Markets

[Date of Submission]How Forever 21 Reached Global Markets

Introduction

Based in Washington, Starbucks Corporation is an American global coffee house chain and coffee company. It is the largest coffee house company in the world. Snacks, pastries, full-leaf teas, micro-ground instant coffee, whole-bean coffee, cold and hot beverages are served by the Starbucks locations. The company has expanded rapidly since it founded as a local coffee bean retailer and roaster in the year of 1971 (Schultz & Jones Yang, 1997). In ninety four countries, like, Puerto Rico, China, Canada and Australia etc., the company has 16,120 stores. Single origin coffee and 30 blends are acquired by Starbucks. With over 5 million customers within a week, around one hundred and forty thousand employees are employed by Starbucks worldwide.

Discussion

The History of Starbucks

In the era of 1970s, the Starbucks got opened. The name was derived from a class American novel known as 'Herman Melville's Moby Dick'. Since the finest coffees of the world were imported to the thirsty and cold people of Seattle by the store, therefore, the seafaring name seems appropriate. In the year of 1982, Howard Schultz joined Starbucks; he visited the famous espresso bars of Milan while on a business trip in Italy and foresees, the potential of it in Seattle and Seattle quickly becomes coffee-crazy after trying mochas and lattes.

In the era of 1900s, Starbucks expanded itself to the entire world. It became a publicly traded company after becoming one of the first companies that offered stock options to its part-time employees (Gaudio, 2003). In the era of 2000s, the phenomenon of Starbucks continues and in over forty countries it acquires more than fifteen thousand locations.

The Competitors of Starbucks

Specialty coffee shops and quick-service restaurants are the main competitors of Starbucks. In the specialty coffee beverage industry, there are an abundant amount of competitors. The convenience, price, service and product service are the basis on which the customers chose Starbucks among retailers, in accordance to the belief of the company. Direct competition from large competitors of the United States from quick-service restaurants has been faced by Starbucks in recent times. Greater operating and marketing resources are acquired by these restaurants.

With increased competition in the ready-to-drink coffee beverage market of the United States, well-faced established competitors are also faced by Starbucks in the international markets. Panera Bread, McDonalds and Dunkin Donuts are the three major competitors of Starbucks. Dunkin Donuts is known for their coffee and doughnuts and has introduced new products, like, breakfast sandwiches, muffins and bagels, over the years. To include teas, flavored hot chocolate, coolattas, lattes, and flavored coffees, the coffee offerings have been expanded by the company.

The largest fast-food chain restaurant of the world is McDonalds, and since it first upgraded its coffee in the year of 2006, the company is becoming an emerging competitor. In compare to Starbucks, a larger customer demographic is acquired by McDonalds. Strong loyal customer base and strong brand recognition are attained by McDonalds similar to Starbucks (Thompson ...