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Starbucks Marketing Plan

Starbucks Marketing Plan. Prepared By: Alison Buckley Lance Hill Laura DeSloover Kati Popielarz Leslie Gora Danielle Sanders Saginaw Valley State University MKT 336, FALL 2009 . Executive Summary- Key Points. Largest Coffeehouse company in the world Based in Seattle

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Starbucks Marketing Plan

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  1. Starbucks Marketing Plan Prepared By: Alison Buckley Lance Hill Laura DeSloover Kati Popielarz Leslie Gora Danielle Sanders Saginaw Valley State University MKT 336, FALL 2009

  2. Executive Summary- Key Points • Largest Coffeehouse company in the world • Based in Seattle • > 16,000 stores in 49 countries • Well known; internationally successful • Target Market: Individuals with a higher disposable income seeking a unique experience

  3. Mission Statement Principles to support statement: • Ethically source the finest coffee beans • Embrace diversity • Provide a human connection with employees • Create stores where customers feel comfortable • Take responsibility in each community “To inspire and nurture the human spirit— one person, one cup, and one neighborhood at a time.”

  4. Starbucks Visit Results

  5. Independent Coffee Shop Visit Results

  6. Situational Analysis

  7. Internet Marketing • Website • Twitter • Facebook • Videos • In-store wifi access

  8. Internet Marketing

  9. Internet Marketing

  10. Internet Marketing

  11. Market Summary • Gourmet Coffee is Big Business • $11 Billion in sales in 2005 • 300 Million cups of coffee consumed • 54% Americans daily coffee drinkers • 15% Americans • One specialty coffee a day • 75% brewed at home

  12. Market Summary • Diverse Market Segment • Strive to be there for all • Young professionals • Web workers • Soccer Moms • “Hipster-Types”

  13. Market Summary • Store Location • Median household income of $60,000 • Currently >16,000 Stores • Closed 600 Stores in July 2008 • Michigan stores closed: Detroit, Flint, Gaylord, and Ludington, among others

  14. Market Summary • The Anti-Starbucks Starbucks • 4 Stores planned to open • First: 15th Avenue Coffee and tea

  15. SWOT Analysis: STRENGTHS

  16. SWOT Analysis: WEAKNESSES

  17. SWOT Analysis: OPPORTUNITIES

  18. SWOT Analysis: THREATS

  19. Competitor Environment

  20. Marketing Goals & Objectives • 42% of the coffee market share • Ranked 4th of top 400 restaurant chains • Focusing on future growth through their 160,000 partners • Moving companies overseas • Integrating corporate social responsibility

  21. Marketing Strategy • Alternatives to Current strategy • Focus on keeping competitive prices in retail outside of Starbucks stores • More variety in desserts and lunch options • Reassess online sales

  22. Marketing Strategy • Demographics, Psychographics and Geography • Middle-upper class predominately white areas • Located in office buildings, college campuses and urban areas • Suggestions • Rely on brand and loyal customers

  23. Marketing Strategy • Product positioning and life cycle • High price, high quality for their market • Boston Consulting Group Matrix • Mature/established life cycle stage

  24. Marketing Mix

  25. Implementations & Control

  26. Contingency Plan

  27. Summary

  28. References • www.Starbucks.com

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