SWOT Starbucks Week2 PDF

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Marketing Plan Analysis and Presentation: Part 1 – Research Template Directions: Visit the website for the company you have selected and obtain a copy of the annual report. Locate three to five additional resources that will provide data and information related to the brand story; the company vision, mission, and marketing objectives; and strategies and tactics the company is currently using to meet the marketing objectives. You will also use this information to complete a SWOT analysis. Apply your research findings when completing each item below. Company Name: Starbucks Coffee Company Brand Story: In 250 words, provide a thorough description of the company and brand. Reference and cite your research sources within the summary. Starbucks Coffee Company is the largest coffee house in the world, having over 30,000 retail stores as of the third quarter of 2019, (Lapitskiy, I. 2019). The coffee house started in 1971 in Seattle’s Pike Place Market. Throughout the years, Starbucks has gained popularity and has gained the title of the most iconic coffee company across the globe. Starbucks is known to have amazing coffee, but that’s not the only thing they’re known for. Starbucks has been one of the shining examples of a company that practices conscious capitalism. Starbucks helps their employees better themselves by offering them free college tuition. Starbucks is also committed to make sure their coffees, teas, and manufactured goods are ethically purchased and responsibly produced around the world, (Starbucks, 2020). They also strive to make every customer feel welcome when they enter one of their stores. Starbucks wants to make their stores a home away from home for everyone no matter what their background is, (Starbucks, 2020). Starbucks strives to have the best coffee in the world, as well as the best customer service. They also expand their brand by giving back to their communities. They created the Starbucks Foundation to give back to their communities in various ways. From community service, to committing to hiring veterans and family members of veterans, Starbucks wants to give back to their community in any way they can, (Starbucks, 2020). From one cup at a time, to one job at a time, Starbucks is on a mission to expand their brand in many different ways.

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Company Vision: Treat people like family, and they will be loyal and give their all. (Starbucks, 2020) Company Mission: To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time. (Starbucks, 2020) Company Marketing Objectives: Consistent branding and customer experience, great products, loyalty program, social media presence, convenience (mobile app), and social responsibility, (Greter, T. 2020). Company Marketing Strategies and Tactics: In 250 words, provide a high-level summary of the strategies and tactics the company is currently using to meet its marketing objectives. Include discussion about the market and consumer data that was used in formulating the strategies and tactics. Reference and cite your research sources within the summary. Starbucks Coffee Company has used excellent marketing strategies and tactics over the years to become the most recognizable coffee house around the world today. There are many strategies that they are using currently to grow and expand their brand. According to osiaffiliate.com, they list Starbucks’ main target audience is upper- and middle-class citizens who can afford the premium coffees and teas that Starbucks has to offer, (Greter, T. 2020). With that, there are many ways that Starbucks achieves that through marketing. Starbucks employs many marketing strategies such as, their branding, and their conscious capitalism business model. The Starbucks Coffee logo is iconic around the world and they use their branding so well that the majority people around the world recognize their logo and it will be their first thought when they think about coffee. Starbucks also spreads awareness of their brand by promoting a conscious capitalism agenda. Starbucks wants to make their stores a home away from home, (Starbucks, 2020), by promoting a welcoming environment that will entice their customers to return and spread the word. They also give back to communities by doing volunteer work, hire veterans, and provide their employees with free tuition, (Starbucks, 2020). According to their Fiscal 2019 report, Starbucks has had a consistent revenue growth since 2015, with Starbucks posting a 26.5 billion net revenue in 2019, (Starbucks, 2019). There is no doubt that Starbucks is marketing their stores correctly because they keep growing and expanding throughout the world and they will continue to market their stores efficiently to keep increasing and expanding throughout the world.

SWOT Analysis: Using the data and information from your research, complete a SWOT analysis for the company. Reference and cite the topic materials for details on conducting SWOT analysis.

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Strengths Strong brand image

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Weaknesses Steep prices

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Global company

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Imitations of products

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Growth in stores

 Lack of solid food diversity in items to become the breakfast hot spot

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Opportunities Expansion in developing markets

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Threats Competition with low-cost coffee houses

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Partnerships with other businesses

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Local coffee houses

 Competition with big restaurants like McDonald’s and Dunkin Donuts

 Ability to introduce new products

Citation of Sources: Provide APA citations for the company’s annual report and the other research sources utilized in completing the assignment. Name of Source Knoema.com

Citation Information Lapitskiy, I. (2020, February 3). Number of Starbucks Stores Globally, 1992-2019. Retrieved from https://knoema.com/infographics/kchdsge/number-ofstarbucks-stores-globally-1992-2019

Starbucks Coffee Company

Starbucks Coffee Company. (n.d.). Retrieved from https://www.starbucks.com/responsibility/sourcing Starbucks Coffee Company. (n.d.). Retrieved from https://www.starbucks.com/responsibility/community/starbucksfoundation Starbucks Coffee Company. (n.d.) Retrieved from https://www/starbucks.com/about-us/company-information/missionstatement

Osiaffiliate.com

Geter, T. (2020). What is Starbucks Marketing Strategy? Retrieved from https://www.osiaffiliate.com/blog/starbucksmarketing-strategy/

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Starbucks financial data

Starbucks Corporation - Financial Data - Annual Reports. (2019). Retrieved from https://investor.starbucks.com/financial-data/annualreports/default.aspx

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