Written below is an integrated marketing analysis of Keurig’s current business. Information such as the background, market research, branding, services, and marketing are covered on the Keurig company. Keurig Today’s world runs on speed and efficiency. The same necessities are required out of people. When one needs to get an energy boost, they will usually turn to coffee.
Strategic Initiative Paper FIN/370 March 12, 2012 Rick Schultz Strategic Initiative Paper A strategic plan is an important component of any organizations success. With a solid strategic plan in place an organization will have a clear understanding of: * What they do, * Who their customers are, and * What risk factors they face (Titman, Martin, & Keown, "Section 17.1, An Overview of Financial Planning," 2011) Having a clear understanding of what an organization does enables them to compare every activity in the organization against their mission. For example, at Starbucks their primary objective is to maintain their standing as one of the most recognized and respected brands, as a premier retailer of specialty coffees
Final Marketing Plan MKT/421 Final Marketing Plan This company specializes in a medium priced coffee that would appeal to all income classes. The company specialized it by using a single origin coffee bean. The company decided on a 100% Arabia bean from Costa Rica because it has great soil to grow coffee beans in. The company will provide marketing information for the sale of whole bean, ground, and espresso pods. The name of this company is Caffe Umbria.
Starbucks aims to give good quality products to theirs customers and that with those products they could make their business known. With fair trade products and good quality beans from Ethiopia, India etc. they bring different kinds of flavors for their drinks. And for objective since they have started from a small coffee house in Seattle, Washington, USA they would open more shops in the USA and make their business
The customers can be classified into two kinds: the long-standing customers like residents and faculties, and temporary customers like students and visitors. In September 2009, Tim Hortons will open up its first store in the West Mall Complex (WMX) of SFU, replacing Raven's Cafe and Chartwells. Tim Hortons is a fast-serve coffee franchise that serves coffee, espresso products, cold beverages, sweets such as donuts, and breakfast, lunch and dinner meals. The company’s quality products, combined with a strong reputation for service and reliability, allow them to attract and maintain a large and loyal customer base nationwide. Although Tim Hortons and Renaissance Coffee operate in different segments of the coffee market, and differ strongly from atmosphere and business structure, to product quality and product pricing, Renaissance's sales level may still be strongly affected by this opening.
Starbucks provides a variety of coffees and es pres s os as well as fres h food items including pas tries , s andwiches , s alads , and other items . Additionally, it s ells branded bottled co ffees and ice cream. Starbucks als o owns s everal brands including Seattle’s Bes t Coffee and Tazo tea. Starbucks Corporation was given a weighting of 20% becaus e of its brand image and appeal to its target market. Starbucks offers a s imilar fres h ingredien t environment and values its employees highly.
Strategic Initiative Several strategic planning initiatives for the Starbucks Corporation, as identified in their fiscal 2012 annual report include: * To expand the core business of coffee roasting and distribution channels * Create authentic connections with their customers via the Starbucks experience * Expand market share capture in the high end tea market category (Teavana) * Support and encourage innovation within Starbucks business sectors The Starbucks Corporation continues to drive toward a balanced approach of increasing shareholder wealth. The cooperation recognizes and supports a socially responsible position with true global issues and concerns. Starbucks understands this delicate balance and does not compromise its reputation for the mere sake of increased profitability. One example of their strategic plan is identified with their recent success of enhancing their distribution channels. According to the "U.S. Securities And Exchange Commission" (2012) fiscal annual report; Starbucks consolidated global revenues reached a record $13.3 billion, a 14% increase, with revenue growth driven by a 7% rise in global comparable store sales and a 50% rise in
That is why in my assessment I will try to look closely to the company, see how it operates as well as will try to implement company strategic plan while comparing it to other similar brands in the market. Executive Summary Starbucks Corporation has arguably been the most successful coffee chain in the past few decades, using their aggressive expansion strategies to push out much of its competition. Through its expansion, Starbucks has focused on creating a dense network of stores all around America, while also opening up new locations all around the world. By leading the retail coffee market, Starbucks is able to sell its coffee for a premium price and increase their profitability. Its success can be seen in the gradual rise of its stock prices from 1992 till 2011.
CoffeeTime Research and Decision Making CoffeeTime is an organization specializing in acquiring and roasting some of the most exquisite coffee beans. These coffee beans are sold and blended to create coffee beverages bought in coffee bars in North America and Europe. CoffeeTime can be described by the customers as, “…a great place to hang out” (University of Phoenix [UOP], 2002). “For millions of American and Europeans, CoffeeTime stands for the celebration of coffee. Mocha Italia in the morning.
External Environment Remote Environment Economic There are various national and international economic factors that influence the operation of Starbucks. One of the most leading economic factors in the Starbucks industry is the consumers’ buying power. Consumer buying behavior fluctuates with the state of the economy. For example, Starbucks experienced challenges during the economic crisis of 2007-2009 because consumers were not spending their money. Pay rates vary across the national and international levels that Starbucks performs.