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Marketing Analysis for Starbucks - Essay Example

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This work called "Marketing Analysis for Starbucks" describes a company that has employed strong customer and employee-relations to model its internal business environment. The author outlines ways to increase Starbucks' customers and to improve organizational productivity…
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Marketing Analysis for Starbucks
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Download file to see previous pages The company’s management has used a wide range of marketing strategies to promote its product and to resolve its business challenges as market competition evolves. The survival of the company in a tough market environment depends on the ability of the managers to design effective marketing approaches to promote its products.
For an organization to develop effective marketing strategies, it is crucial to understand the market characteristics in which it operates. Over the past ten years, the food and beverage industry has shown exponential growth and the same is expected in the future. Currently, the food and drinks market is valued at about $35 billion and the projection shows that this is bound to rise. By the year 2020, the food and beverage industry is expected to have a total value of $60.0 billion. This growth trend of this industry can be linked with the rising demand for these products and services due to the increased rise in social class and growth of the population (United Kingdom Food & Drink Report 1-189). However, it is clear that the demand for food and beverages in rising in the developing markets such as India more than in settled economies such as the US.
Unfortunately, the competition in the food and drinks and beverages is becoming a great threat to this business. The main competitors included McDonald's and Dunkin Donuts, Costa Coffee, Pete’s coffee and mom and pop coffee stores. Over time, the company has faced strong competition from Costa Coffee, Nestle, Caribou Coffee Company, and the Coffee Roasters. This competition has been accelerated by the poor pricing strategies that Starbuck continues to use over its history. The company’s weakness exists in its inability to effect positive price reduction strategies in markets where the price is a major influence of demand (Cardenal Para. 3-4. High prices of products have given the company a bad reputation and promises to be a limiting factor in the future of this company. Another weakness emanates from the company’s dependence on coffee as the primary profit reaper. The company has little influence on the coffee prices and the fact the price of coffee is unstable makes the company profits fluctuate. For the company to excel in its business operation it requires reducing its dependence on this product. ...Download file to see next pages Read More
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