Strategic Management Assignment help on : Starbucks

Introduction Starbucks is the largest coffee producing house in the world. It was established by Jerry Baldwin and Gordon Bowker that focus on aggressive marketing. It was firstly opened in the country known as Washington and it entered into the UK market thus the customers also enjoys the high quality service along with the soothing atmosphere. Starbucks has continuously focused on continuous development and growth in terms of expansion of its operations, faster networks and delivery services as well as other operations worldwide. Starbucks do believes in high quality of coffees and it deals with rich form of Italian espresso. The company offers pastries and other form of confectionaries. This way, the company expands the sales in the supermarket with the help of high quality products available in their shops. This strives for better satisfaction of customers and also it helps to welcome the customers with respect to high level of standard in the business forms and approaches. This way, the company also believes in offering newspapers, reading materials and music and important forms of access through the help of internet. It has been significantly competitive in the whole world and it offers the high quality coffee business. Therefore the business is competitive and also it focuses on the premium products as well as services. This paper will meet with the important principles of strategic marketing planning for the selected organization known and established well as “Starbucks”. The paper followed the discussion of the process involved in the strategic marketing that discuss about the major goal of an organization which is based on the global presence. The mission of the organization i.e. Starbucks is associated with the establishment of the finest coffee in the world that helps to maintain the important principles at the time of growth. Later on, the paper evaluated the connection and relation between the strategic marketing as well as the corporate strategy which discuss about the values, brands and logos.

By the help of the above discussed parameters, the paper mentioned the important tools and techniques for developing the strategic marketing strategy that helps to assess the important tools and models of strategic planning and marketing. This way, the paper discussed the important links of strategic positioning and tactics of marketing. This also helped to analyze the advantages of relationship marketing in the given strategic marketing planning for the well established organization known as Starbucks. The strategic marketing plan will be based on the Australian market.

On the other hand, this paper will meet with the other important task known for marketing tools and techniques. This task will deal with the competitive environment and also it will meet the important areas of competiveness.

Task 1

Principles of strategic marketing plan for Starbucks

 Strategic marketing meets with the important approach of marketing planning. It helps to analyse the best part of the company to satisfy the customers and to manage the profits accordingly. The process of developing and maintaining the strategic approach between the goals and skills of the organization is known as strategic planning. It is strongly based upon meeting the level of competition so as also by developing the long term growth and development. This also helps to address the requirements of the consumers and to determine the actions for better objectives. It consists of different types known as strategic planning or tactical planning and operational planning. Thus there is a requirement of developing the mission statement so that it will help in accomplishing through the larger environment. (Sekirin, 2012)

Marketing plan is an important task for the success of an organization. It includes the change in needs and the requirements of the customer. It is an important understanding of communicating with customer and it includes important activities such as to build the products and services that will meet the customer’s requirement and to communicate the proper values thereof to deliver the products that provide values. Strategic marketing plan also provides the overview of customer focused products and services for assessing the effectiveness of marketing strategy. There are different steps of the strategic marketing planning process such as:-

ü  There is a requirement of mission statement for the strategic marketing planning process. Later on, the company should possess the set of corporate objectives and also it should lead to the desired level of profitability.

ü  The next step is to focus on the marketing audit that will help in innovative nature and also it will develop the strong level of performance.

ü  The organization should focus on the market overview and also it should try to understand the right market for the business needs. Thus the SWOT analysis will be also helpful.

ü  Identification of 4 p’s of marketing will also be successful for the organization to meet with the level of success.

ü  Also there will be the requirement of designing the budget in the proper manner for addressing the major challenges of marketing in the companies. (McDonald, 2006)

1.1 Role of strategic marketing in Starbucks

Strategic marketing planning takes time but it provides the competitive advantage and shapes the corporate positioning so as it also sets an important agenda for high level of growth as well as innovation. (Frost, 2009)

In company like Starbucks, the company should apply the principle of success in the large form. The company should try to attract millions of people for better strategies and there should have unique and relaxing experience for the people. Thus there should have strong concepts of dealing with the customer satisfaction. There is a requirement of building innovative ideas for better strategic marketing planning.

The major goal of an organization should be based on the global presence. The mission of the organization i.e. Starbucks is associated with the establishment of the finest coffee in the world that helps to maintain the important principles at the time of growth.

The company inspires the spirit of the human beings and also it always focus on quality. (Tewell, 2006)

Marketing strategies meet with the transparent strategies and it tends to have more appealing factors such as reengineering and right sizing. It helps to reinterpret the maximized shareholder’s value. This encompasses the functions, processes as well as the department of the organization with respect to proper form of success. This seeks to follow the maximization of developing the growth as well as relationships with the help of competitive advantage. This will be created by the important approach of traditional methods and this way, it will be expanded with the leading world. Starbucks enjoys the important position of strategic group and it also focuses on high priced, high quality product offerings. It becomes able to build the image of the brand and it successfully produces the market demand in the important locations. Therefore it enhances the customer experience; it increases the market share and enters the market through the help of strategic marketing. This way it achieved and increased the leadership position as well as strong financial position in the important aspects. Success has been created with this important approach and in the competitive manner.

1.2 Process that should be involved in strategic marketing

There are different processes involved in the strategic marketing such as:-

In the first stage, there will be the understanding of both the important factors known as internal as well as external factors that helps to influence the business. There is an understanding of business vision and mission, sales related performance and market trends as well as competitive landscape. The next stage is to formulate the marketing strategy and to define the unique selling point that will help in modifying the product opportunity and also it will help to define the objectives of the market. Later on, there is a requirement of creating the marketing objectives and designing as well as implementing the marketing plan for better goals and objectives to meet with this stage. This might include the important strategies of advertising, public relations, word of mouth and consumer competitions etc.

Thus there is a requirement of evaluation and execution of marketing that will depend on the marketing goals and also it will assist in better decision making approaches. (Businesspropulsion.com, 2012)

1.3 Links between strategic marketing and corporate strategy

Strategic marketing is useful for delivering high amount of values to the customers and it is necessary for better implementation. It helps to identify the process and the capabilities to execute the strategies. This also helps in evaluating the needs and wants from the stakeholders and it helps to identify the organizational performance, goals and strategies. (Ryals, 2008)

Corporate strategy is known well for the broad marketing plan and it includes the logo as well as the brand of the company. It also indicates the packaging of the product. It is concerned deeply with the competition in the industry and also is associated with the issues of business strategy. (Peters, 2007)

Corporate strategy meets with the important objective of success in the organization for long term. It deals with the leadership and also develops the structure of organization with respect to proper and effective conditions. Thus it contains important stages of marketing perspective and also this increases the market share and improves the quality of the products along with the services. The internal audit of the company should depend on the staffing, budget and responsibilities. The external audit is based upon the analysis of macro environment.

2.1 Value of models used in strategic marketing planning

Value of models that will be used in the process of strategic marketing planning is known well for the greatest management. It includes the management and also focuses on important place. It is a planning model with the emphasis on the organization and it has several characteristics. This model will be useful for designing the product and service.

There are different tools that are used in strategic planning and process and also for marketing and sales such as:-

It involves in the internal as well as external factors in the organization. It is helpful for considering the needs and the requirements of the customer and also it develops and implements ways for effective actions.

This is concerned with identification, anticipation and meeting of the customer needs for the organizational goals and profits. It is an important element of marketing because it provides the right product at the right price and through the help of important distribution channels. (Richards, 2012)

Marketing research is an important element that involves the greater source of marketing mix and it is concerned with the long term decisions with proper approach of meetings of internal as well as external needs of the customer. It is important to review the appropriate theories of marketing and to create the more advanced strategic marketing plan. Marketing strategy includes the company’s environment and also it helps to earn profits both internal as well as external environment.

The Ansoff Matrix for the selected organization i.e. Starbucks is as follows:-

The market penetration of the company is based on the speciality team and is opened to different hubs that build the different types of stores and are really customer driven. It also develops the healthy foods and the product development is based on the diversification that depends on the collaborations as well as partnerships. Thus the market development of this organization is based on the successful products with respect to the introduced new markets.

SWOT analysis of Starbucks in the chosen market

The SWOT analysis focus on the strengths, weaknesses, opportunities as well as threats such as:-

Strengths: It is a global brand of coffee that is built on the basis of products as well as services.

It has not less than 15000 stores in different countries.

This organization meets with the important approaches of values, commitment etc.

Weaknesses: The major weakness associated with this brand is it has strong network and presence in the market i.e. U.S. market so there is a requirement of expansion in terms of decrease in the risks of the business.

Opportunity: The Company focuses on expanding the global reach.

Threats: There are different barriers of entry of many competitors and this creates potential threats in the success path of Starbucks.

2.2 Links between strategic positioning and marketing tactics

Positioning drives the strategy of marketing because it maintains and creates the target audience. It also helps to define the product according to the people needs and characteristics. It establishes the result of marketing plan and deals with the similar needs and buying habits. This accomplishes the understanding of the demographics and the psychographics market segment as the target audience. (Duff, 2012)

Marketing is important in any business. It depends on the formulation of well informed and better strategic marketing plans. It is important to formulate the needs of the positioning strategy. This is about finding the right path to create the unique and the significant ways for the strong positioning. Starbucks has positioned itself with the help of focused differentiation strategy. It has been the great experience for the good coffee.

2.3 Merits of relationship marketing in a given strategic marketing strategy

Relationship marketing focuses on marketing strategy in the past two decades. It helps in implementing to improve the customer loyalty and to increase the sales as well as profits. Thus it is an important approach to continue the relationship with the organization and its customers. This way, it emphasizes the strong importance of customer service and high quality development with consumers. This way it provides high value to the customers and also emphasizes the customer retention. Therefore it provides the important basis of achieving the edge of competitiveness. This recognizes the long term values of customer relationships and also it deals with better communication. It refers to the important approach of consumer requirements and also it uses a team-based approach. (Palmatier, 2008)

Relationship marketing focus on customer retention and it encourages increasing the spending of long term relationships with the customers. (Ramakrishnan, 2011)

The relationship marketing obtains the new form of information and also it meets with the customer satisfaction. Thus it is important to measure the retention of the customer and also it is essential for retaining the customers such as to define the market, to determine the values and also to implement the service strategy. Relationship marketing depends on the customers and also it builds strong customer relationship with to offer the important competitive advantages. Thus it enlarges the performance of the business and it establishes the effective relationship. This helps in improving the customer service and maintains the strong customer relationship. (Karadeniz, 2010)

Relationship marketing is known as the general concept of marketing that helps to conduct data and information and also provides the improved customer experience. Thus it involves the proper set of technology and manages the customer needs.

Task 2

By using the same company i.e. known as Starbucks is as follows:-

The application of strategic marketing technique to create the marketing objectives for a key market for the response in the competitive environment is as discussed below:-

Currently Starbucks is focusing heavily on the retail sections for innovation of the product and for service related innovation to meet the long term goals and outcomes. This establishes the most important objective and the most respected brands in the whole world. This builds an important idea of creating the coffee houses. So with the same goals and objectives, Starbucks focuses on establishing the new form of stores for the markets and for the expansion of better product development process. This way it needs to improve the position of the market financially.

In the initial stages of growth and development of Starbucks, there has been the identification of proper well-educated and most importantly female group of audience who belongs to age group of 25-44 years of age are the target group of audience. Thus with time, the market research helps in establishing the new group of target market such as young, well educated and average group of income people.

The geographic profile of the company is based on the existing market and there is high focus on international plans as showed in the company that strongly operates in countries such as United Kingdom, Australia as well as Thailand.

The demographics of the market is based on the young people who are well-affluent in nature and most of the customers nearly around 70% of the customers are internet users and are office people who use to love coffee after offices.

The visit of the customer is not less than 20 times to the coffee shop whereas the typical customers go five times in a month.

The market needs are associated with the first impression as well as experience. Starbucks should deeply focus on building high level of experience for their customers and it is a best place for the target group to relax and to be free as well as to enjoy the atmosphere. Thus the ambience is the one which attracts most of the customers to come again and love to stay which is the very positive element.

The menu contains coffee, espresso traditions & favourites, beans and beverages etc. They have high sources of accessibility as well as reliability that lead to important form of customer satisfaction.

PEST analysis

The PEST analysis includes political factors, economic and social factors, and technological factors.

Political factors: This way, it will meet with the importance of relationship among the coffee manufacturers in the important countries as well as in U.S.

Economic factors: There is a constant demand and increase in the food as well as beverages with respect to the change in the income levels that influences the level of buying.

Social influences and social factors: This factor mainly deals with the preferences of the customer and it also shift the customer from the important focus i.e. coffee to other beverages.

Technological influences and factors: There has been the increased use and approach of high amount of technology to improve the operational effectiveness and efficiencies.

The company has the biggest market growth and it tries to expand its market worldwide. This way it leads to capture an increase in the share of the market.

When looking at the competitive aspects, the company meets with the important challenges of competition. It arrives from different forms known as:-

The competitors have independent and local coffee shops, they are diverse and intellectual so as they are also liberal and focuses on younger group of coffee house. They have wide variety of food as well as beverages and the major competitors are associated with this brand are known as McDonald, Donuts, Dunkin etc. These competitors have important facilities such as they have the most reputed and the branded names, they are easier to reach and are more convenient. These competitors also are based on the important appeals to deal with the coffee consumers.

Starbucks do focuses on high quality of coffees and it deals with rich form of Italian espresso. The company offers pastries and other form of confectionaries. This way, the company expands the sales in the supermarket with the help of high quality products available in their shops. This strives for better satisfaction of customers and also it helps to welcome the customers with respect to high level of standard in the business forms and approaches. This way, the company also believes in offering newspapers, reading materials and music and important forms of access through the help of internet.

Thus there are important keys to success for the company with the rapid increase in the retail sales as well as operations, growth in terms of specialty stores etc. With the help of introduction of new products, the company will pursue important form of opportunities to meet the customer satisfaction and also to meet with the important approach of new form of opportunities. This is maintaining the welcome and the friendly service to the customers and providing proper attention on customers.

There is an important requirement of increase in the customer focused approach with the help of service improvements. Thus there is also the need of friendlier as well as more supportive, knowledgeable and attentive staff’s and employees. There is also the requirement of faster and more effective service with increased approach and treatment of customers.

The company offers high quality and variety as well as availability of products. It helps to reach the involvement through the high amount of increase in awareness. Thus it also improves the level of customer satisfaction. (Pride, 2012)

3.1 Marketing techniques

The use of appropriate marketing techniques to ascertain the growth opportunities in the market is as follows:-

Starbucks is one of the important and the most successful brands that are highly admired and it uniquely focuses on important forms of marketing techniques to meet the growth opportunities such as:-

Starbucks do not believe in marketing its product with the help of billboards, hoardings and other forms of advertisement but it goes for unconventional marketing tools and strategies for the strong level of promotions of the company. It believes in the word of mouth approach, other strategies and techniques such as social media approaches to meet the important form of opportunity.

Marketing techniques are based on the market research with respect to traditional approach that focuses on major demand for the offerings and opportunities of the product. It deals with the important presence and the major demands of the market with the important form of resources. Thus it provides the high quality products that meet with the most important form of coffee sector.

3.2 Marketing strategy in market

Unique taste: The Company should try to create an attention on quality, flavours and product. The customers should satisfy the rich and delicious taste so as there should have unique and relaxing form of atmosphere to attract the customers strongly. The individuals are required to encourage with proper sources of marketing such as word of mouth approach and other concept like viral marketing will also be helpful.

The major goal of the company is to offer the product as well as the service for the consumers. It deals with the process of innovation with better future plans. It can share the important ideas with the brand along with the products and other experiences.

Instant Starbucks coffee will create the product development strategy through which there will be proper customer insight and also there will be important launch of the product with respect to important channels and mediums. This way, it will facilitate the direct access to customer and also it will allow the organization to engage the customers thus it will provide the form of loyalty with proper initiatives and this will result to generate high amount of revenues with loyal customers and acceleration of growth.

3.3 Strategic marketing objectives

This brand is consistent and it has the important objective to create the important form of experience with regards to proper optimization of values and information. This makes the best practices for important ways and also it provides the important feedback for better forms of ideas as well as other important strategies and channels. (Ruiz, 2012)

The marketing strategy of the elements, products and features as well as competitive capabilities depends on the factors of success. It also focuses on the success of competing firms and industry. Starbucks offer the wide range of products of food with beverages. It includes important items such as lunch meal and other sweets etc. It is thus dedicated to the customer service with proper mission statement of the company. This may have rapid expansion strategy with successful leadership abilities and also with the important competitive strategy. This way the company utilizes the efforts to make the customer happy and to deal with them successfully. Thus it uses the broad differentiation strategy to allow the most important focus on the market with strong customer preference of the product innovation and brand power. This also allows the company to meet the possible range of product mix. This also defines the strong operations of the company and it includes the physical assets with the maintenance of high amount of cash. It also possesses the skill set and requirements of introducing the innovative as well as new products in the market. It also possess the high quality of operations with effective and efficient manner so as this industry is able to perform the sustainable advantages and importance. This way, the industry is able to meet the core competencies with sustainable advantages and also they are able to evaluate the key trends and performances.

4.1 Impact of changes in the external environment on a marketing strategy

Business is getting operated in the independent network and areas. It is because of certain actions and activities. It includes certain factors such as:-

The political influences reduce the effects of tariff and it can also affect the rate of competitiveness as well as sales and profitability.

The income disparity with respect to economical factors creates inequality and also it affects the low sales in many locations. This also creates unfavourable conditions.

In case of two countries such as India and China, the tea is preferred in most of the locations so people are health conscious to eat and drink. So it is favourable concern for Starbucks.

The technological influences create the ideas of social networking options and it helps to connect with the customers directly that has the favourable impact for Starbucks.

Thus the impact of changes in the external environment works like the threat itself.

There will be negative impacts on the work culture, decisions and the performance of the company through the changes in the external environment. Thus it will also change the financial impacts on the consumer’s perception with respect to substitutes. (Brown, 2011)

4.2 Internal analysis of strengths and weaknesses

Strengths: It is the most reputed brand and it focuses on providing soothing experience and better focus on delivering high quality, positive attitude and experience to the customers. It also focuses on public awareness as well as it follows the unique strategy with the help of motivated and highly dedicated employees. The company enjoys the experience of successful demands in the industry. It tries to build the new products that increase the market share of the company and it meets with the finest coffee in the world. This way, the company enters into the new market and try to achieve the local expansion strategy. This also creates the competitive advantage and increases the greater financial situation. It continues the product innovation with strong enhancement of market position and brand power.

Weakness: On the other hand, the company have certain weaknesses such as recession affects the inequitable form of income distribution to the people.

4.3 Strategic marketing responses

The strategic marketing responses focus on the important approach of marketing strategies and objectives. It meets the important selection of proper advantages and benefits so as it deals with the criteria of approaches for better medium of planning.

Conclusion

Evidently, to conclude the paper must say that there has been the important analysis of the discussion on strategic planning process for the chosen organization known importantly as Starbucks. This paper effectively dealt with the important understanding of strategic marketing plan and also it met with the important relationship among the strategic marketing and corporate strategy with respect to proper theories and principles of understanding. Later on, the paper focused on the important approaches of tools and techniques for developing the proper strategic marketing strategy. This way, it analysed the advantages of relationship marketing and its importance for both the organization along with the customers. Relationship marketing deals with the customer retention and it also encourages increasing the spending of long term relationships with the customers thus it also helps to conduct and gather data as well as information and also provides the improved customer experience. The above discussed paragraph was represented in the task 1 whereas in task 2, the paper focused on the SWOT analysis, the PEST analysis and other important forms of organizational goals and mission so as for the introduction and establishment of new products with respect to proper maintenance of strategic tools and techniques. This way, the paper met with the important discussions on internal analysis, opportunities and other forms of external environment. There has also been the discussion on the competitor’s analysis that represents as follows:-

The competitors of this organization mainly have independent and local coffee shops, they are diverse and intellectual in nature so they are also liberal and focus on younger group of coffee house. They have wide variety of food as well as beverages and the major competitors are associated with this brand are known as McDonald, Donuts, Dunkin etc. These competitors have important facilities such as they have the most reputed and the branded names, they are easier to reach and are more convenient. These competitors also are based on the important appeals to deal with the coffee consumers. This way the market strategies, growth and development with respect to the target group also has been mentioned in the paper to make the reader easily understand about the concepts and techniques. The Company do not focus and also doesn’t believe in marketing its introduction of new products with the help of various mediums such as billboards and hoardings but it believes in social marketing, viral marketing such as word of mouth and other important mediums.

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