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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
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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
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Mission Statement Principles to support statement:
“To inspire and nurture the human spirit— one person, one cup, and one neighborhood at a time.” 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
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Starbucks Visit Results
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Independent Coffee Shop Visit Results
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Situational Analysis
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Internet Marketing Website Twitter Facebook Videos
In-store wifi access
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Internet Marketing
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Internet Marketing
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Internet Marketing
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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
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Market Summary Diverse Market Segment Young professionals Web workers
Strive to be there for all Young professionals Web workers Soccer Moms “Hipster-Types”
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Market Summary Store Location Currently >16,000 Stores
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
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Market Summary The Anti-Starbucks Starbucks 4 Stores planned to open
First: 15th Avenue Coffee and tea
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SWOT Analysis: STRENGTHS
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SWOT Analysis: WEAKNESSES
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SWOT Analysis: OPPORTUNITIES
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SWOT Analysis: THREATS
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Competitor Environment
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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
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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
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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
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Marketing Strategy Product positioning and life cycle
High price, high quality for their market Boston Consulting Group Matrix Mature/established life cycle stage
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Marketing Mix
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Implementations & Control
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Contingency Plan
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Summary
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References
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