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Marketing Principles and Practice - Essay Example

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Summary to essay on topic "Marketing Principles and Practice"
Starbucks has established itself as a premium brand that not only serves coffee to its huge and loyal customer base, it creates a memorable ‘experience’ for them that attracts them to feel the experience again. Starbucks corporate strategy has been to establish itself as the…
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Download file "Marketing Principles and Practice" to see previous pages... The company satisfies customers and gives back to the community and the environment. Also, Starbucks persists to be profitable and it is expected to do well at least in the near future. They live by a strict, slow growth policy completely dominating a market before setting its sights further abroad. This strategy has gained them the advantage of being one of the fastest growing companies in the country amidst rivals trying to compete in the market.
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The strategy for Starbucks is formulated based on the visions of Shultz which aims to reinforce the caring, philanthropic image of the corporation show concern for its employees and society. These values today make Starbucks a leading organization in the country.
Starbucks’ core identity is the business that it does i.e. Selling Coffee. It is basically known for its fine blended premium coffee and coffee related products. This image is actually discouraging for non-coffee drinkers since they would not go to Starbucks. However by developing new and exciting products, it aims to diversify its product range to juices and other edibles to widen its customer base.
The company was started by three Seattle entrepreneurs in 1971 selling of whole bean coffee in one Seattle store. A marketer, Howard Schultz, was hired to be the manager of retail and marketing who brought new ideas to the owners, but was turned down. Schultz in turn opened his own coffee bar in 1986 based on Italian coffee cafes, selling brewed Starbucks coffee. By 1987, Schultz had expanded to three coffee bars and bought Starbucks from the original owners for $4 million. His intention for the company was to grow slowly with a very solid foundation. He wanted to create a top-quality management team which he did by buying off top executives from other well-known corporations. The company suffered losses for the first two years, but Schultz stood his ground and did not surrender his long term integrity and ...Download file "Marketing Principles and Practice" to see next pagesRead More
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