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 > 16,000 stores in 49 countries Well known; internationally successful Target Market: Individuals with a higher disposable income seeking a unique experience
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
Starbucks Visit Results
Independent Coffee Shop Visit Results
Situational Analysis
Internet Marketing Website Twitter Facebook Videos In-store wifi access
Internet Marketing
Internet Marketing
Internet Marketing
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
Market Summary Diverse Market Segment Young professionals Web workers Strive to be there for all Young professionals Web workers Soccer Moms “Hipster-Types”
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
Market Summary The Anti-Starbucks Starbucks 4 Stores planned to open First: 15th Avenue Coffee and tea
SWOT Analysis: STRENGTHS
SWOT Analysis: WEAKNESSES
SWOT Analysis: OPPORTUNITIES
SWOT Analysis: THREATS
Competitor Environment
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
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
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
Marketing Strategy Product positioning and life cycle High price, high quality for their market Boston Consulting Group Matrix Mature/established life cycle stage
Marketing Mix
Implementations & Control
Contingency Plan
Summary
References www.Starbucks.com