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Provide a great work environment and treat each others with respect and dignity.
Embrace diversity as an essential component in the way they do business.
Apply the highest standards of excellence to the purchasing, roasting and fresh delivery of their coffee.
Develop enthusiastically satisfied customers all of the time.
Contribute positively to their communities and their environment.
Recognize that profitability is essential to their future success.
Starbucks’ Unconventional Marketing Strategy Starbucks chose an unconventional marketing strategy that may be unique and seldom-tried, that will most perfectly match the concept that the company wants to portray. Perfect Cup of Coffee- Emphasis on product quality. Their coffee, even though priced slightly more expensive than expected, is notorious for satisfying customers with its rich, delicious taste and aroma. Third Place- Creating this unique and relaxing “experience” and “atmosphere” for people to go to between home and work has been very important for the company as they realized that this is one of the strongest concepts attached to the company, to which customers have been strongly attracted. 8
Starbucks’ Unconventional Marketing Strategy Customer Satisfaction–From the entrance to the store to the very last drop of their coffees, it is a must that customers feel the uniqueness of enjoying their Starbucks coffee experience. Creating a Starbucks Community- The Starbucks marketing strategy has even expanded to create a community around their brand. On their website, individuals are encouraged to express their experiences with Starbucks history, and the company strives to “personally” join in the discussions. Smart Partnerships-Starbucks Coffee Company has been known to create strategic partnerships that demonstrate the fact that another way to grow your business is to partner smart. 9
Starbucks’ Unconventional Marketing Strategy Innovation- Through the years, they’ve added different flavors to their coffee, more food on their menu, and even became one of the first to offer internet capability in their stores. Brand Marketing- The Starbucks marketing strategy has always focused on “word-of-mouth” advertising and letting the high quality of their products and services speak for themselves. 10
Total net revenues increased 10% to 2.8 billion
EPS increased 21% to $0.34 in Q2 FY11 compared to $0.28 in Q210‘
s 16,706 Starbucks stores in the world located in more than 50 countries Number of Starbucks’ stores world wide Starbucks around the Globe 17
Starbucks Today Starbucks vs. Industry This Chart compares Starbuck's stock to the Special Eateries Industry average. As depicted by the graph, Starbuck's has been a defining force in the industry, as the industry average follows the exact same pattern/line, just slightly below Starbucks, for the past five years. 18
Summary What was once a small coffee shop opened by Gerald Baldwin, Gordon Bowker, and ZievSiegl in 1971, Starbucks Coffee Company has grown into the number one specialty coffee retailer. With over 16,000 coffee shops in more than 50 countries, the company’s main objective is to establish Starbucks as the “most recognized and respected brand in the World. Currently, Starbucks is relying on retail expansion, product innovation, and service innovation to achieve a long-term goal of creating a chain of coffeehouses that would become America’s “third place”. By working toward this goal, Starbucks wants to open new stores in both new and existing markets, expand their product development process, and cater to customers’ needs to eventually improve their financial position and dominate market share. 19
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