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Marketing of Services: Starbucks Company - Assignment Example

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"Marketing of Services: Starbucks Company" paper states that Starbucks provides 24 hours of in-store training to their new employees. Employees are given training about preparing coffee and serving techniques of such coffee. Serving techniques include the process of meeting and serving the customer. …
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Marketing of Services: Starbucks Company
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Download file to see previous pages The employees are also awarded stock options. Through this, their salary may rise by 14% of the gross pay. The stock investment plan allows the buyers to buy common stock of the company at a discount. They can get hold of it in 85% of the fair market value. The other fringe benefit that the company provides is that of “Future Roast” 401(K) Plans. The employer matches the employee’s contribution to this plan by adding from 25 to 150 percent of the first 4 percent of pay. It is depended on the length of the service.

All these benefits get reflected in the result of employee job satisfaction. In Starbucks, the Employee Job Satisfaction rate is 82% as per the report of Hewitt Associates Starbucks Partner View Survey. This company also claims that they have a lower employee turnover rate in comparison with another fast-food establishment though they would not provide any specific rate to date. Apart from these benefits, also a few factors are there which attract the employees to work with Starbucks. According to another company survey, the two reasons for those the employees are pleased to work with Starbucks are “the opportunity to work with an enthusiastic team” and “to work in a place where I feel I have value”. Starbucks successfully manages 11,000 full time and 60,000 part-time employees in North America and another 7,400 workers globally. The story behind this success story is its mission statement. They follow it very seriously as their guiding principle and a tool for making decisions. As per their mission statement, establishing a great work environment and giving respect to the employees are of prime importance. 

The customers are part and parcel of the services provided by the company. With respect to customer participation, the service operation of Starbucks is enriched than the manufacturing operation. Because of the contribution in value service, the customers can be considered as the coproducing also. ...Download file to see next pagesRead More
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