Incorporated in 1971 Starbucks the famous coffee chain was at that time is in the business of roasting, retailing whole bean and coffee, spices and tea.
Currently operating in more than 70 countries Starbucks has become successful in connecting with the customers through its network of more than 24,000 retail outlets across the globe.
Segmentation, targeting, positioning in the Marketing strategy of Starbucks –
Starbucks uses geographic and demographic segmentation strategy to make its particular type of offerings available to customers accordingly.
Selective targeting strategy is used by the Costa coffee as being present in more than 70 countries which are geographically separated, following selective strategy is helping the company in catering to the needs of the customers and introducing new products as per the demand pattern.
It has positioned itself on value-based positioning so that to create imaginary stimulus in the minds of the consumers with their intangible offerings along with the main product.
Marketing mix – Here is the Marketing mix of Starbucks.
Mission- “to inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time”
Vision- “Not Available”
Competitive advantage in the Marketing strategy of Starbucks –
Backwards supply chain integration: Controlling the roasting, purchasing, packaging and distribution of the coffee worldwide is helping the company in maintaining the quality & taste of the coffees worldwide.
Wide presence: Being present in more than 70 nations with its 24000+ outlets in these nations is helping the company to source the best quality of the raw materials i.e. coffee beans, tea from coffee producing regions.
Focus on expansion in developing markets is one of the smart strategies which are helping in speed up the growth in revenues of the company.
BCG Matrix in the Marketing strategy of Starbucks –
Being one of the renowned coffee brands worldwide with experience of more than 3 decades in the business is helping the company to understand the businesses in the better way & be innovative in the changing market factors. Starbucks offerings are the star in the BCG matrix.
Distribution strategy in the Marketing strategy of Starbucks –
Starbucks is the retailer, roaster and marketer of one of the best coffee in the world. It offers its beverage products through company-owned and licensed stores around the world.
It also sells a variety of its trademarked coffee & tea products through grocery and supermarkets chains worldwide.
Brand equity in the Marketing strategy of Starbucks –
Apart from Starbucks coffee brand it also sells goods & services under brand name of Tazo, Ethos, Evolution Fresh and Teavana. Since its inception, it has been involved in various CSR activities which helped the company to connect with the communities around the globe.
The ethical belief of the company has helped it in retaining by nurturing the talents as well as winning various awards and accolades such as being a fortune- most admired companies in America (2015).
Competitive analysis in the Marketing strategy of Starbucks –
Companies in this industry compete on the basis of quality, convenience, service and price. The coffee culture is still picking up in many developing nations, there is a lot of competition between the local, and national players.
Companies in this business compete with other restaurants, Ready to drink coffee sold in the grocery stores and other speciality stores located in prime location in the markets.
Market analysis in the Marketing strategy of Starbucks –
Coffee consumption in globally is growing at the rate of 2%. In India, the per capita consumption of coffee is around 85 grammes while it is six kg in the US. Developing nations are the big potential for the companies in this industry.
Customer analysis in the Marketing strategy of Starbucks –
Customers of Starbucks are millennial in the age group of 15-45 years who like to hang out with their friends and relatives and experience the blended beverages offered in the outlets.
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The modern-day gathering place is ‘the coffee shop’. Starbucks has pioneered a celebration of global and local community by creating a place of warmth where people feel they belong.
As an artist, I want to propose an innovative and unique way for Starbucks to communicate its core values through paintings of people — baristas, coffee growers, and customers — celebrating every level of humanity and relationship.
The actual ‘Starbucks experience’ is way beyond coffee — a beautiful story of connection, relationship and community. Representing those values visually, highlights both the Starbucks story and the individuals who make it happen.