MARKETING MANAGEMENT

Contemporary marketing strategy

Executive Summary

Starbuck's vision is to become the most recognized coffee brand in the world. In order to accomplish this goal, Starbucks follows four guidelines. The first of these is to use the finest coffee beans to make their drinks. Starbucks prides itself on using the best quality supplies to make their products. The second component is to make sure that consumers think of their store first, over all of the other coffee companies by creating a memorable image. The third component is providing a summary of the role of what Starbucks does. The company lacks in this component because it does not specify what business the company is in. “It assumes that as a recognized brand it does not need to,” be specific. The fourth and final component is to strive and to reach the companies full potential. These guidelines are in an effort to make Starbucks the most recognized and the most respected brand of coffee.

Table of Contents

Executive Summary2

Phase I4

Business Mission4

Marketing Objective5

Situation Analysis6

Industry Analysis6

Trends6

Competitors7

Phase II9

SWOT Analysis9

Strengths9

Weaknesses11

Opportunities12

Threats12

Marketing Strategy13

Target Market Strategy13

Marketing Mix14

Product14

Place/Distribution17

Promotion18

Price19

Implementation, Evaluation, and Control19

Marketing Research19

Organizational Structure and Plan20

Conclusion20

Recommendations21

References23

Contemporary marketing strategy

Phase I

Business Mission

Starbuck's mission statement is to, “establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining [their] uncompromising principles [as they] grow” (www.starbucks.com). Starbucks has six guidelines that they follow when making marketing decisions. The six principles are:

•Provide a great work environment and treat each other with respect and dignity.

•Embrace diversity as an essential component in the way they do business.

•Apply the highest standards of excellence to the purchasing, roasting and fresh delivery of our coffee.

•Develop enthusiastically satisfied customers all of the time.

•Contribute positively to our communities and our environment.

•Recognize that profitability is essential to our future success. (www.starbucks.com).

Starbucks is also concerned with the well being of the environment, so they have a second mission statement concerning the environment. This mission statement says, “Starbucks is committed to a role of environmental leadership in all facets of our business” (www.starbucks.com). In order to achieve this mission, Starbucks has stated that it will:

•Gain an understanding of environmental issues and share that information with their partners.

•Developing innovative and flexible solutions to bring about change.

•Strive to buy, sell and use environmentally friendly products.

•Recognize that fiscal responsibility is essential to their environmental future.

•Instill environmental responsibility as a corporate value.

•Measure and monitor progress for each project.

•Encouraging all partners to share in their mission (www.starbucks.com).

Starbucks' mission is meant to benefit both its employees and its customers. Starbucks believes that it is important to make their employees happy, so they will, in turn, to please their customers. Starbucks is known for the good treatment of their employees and for their high level of customer service. Their high quality products also make their name well known and respected by their customers.

Marketing Objective

As of March 17, 2007, the company has about 13,000 stores, and plans to have at least 40,000 stores worldwide. Within the next few years the company plans on attaining this ...