A Market Analysis
Mission Statement and Objectives:
Starbucks advertises two essential mission statements. First and foremost, it strives to “establish [ourselves] as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while [we] grow(s).” (Starbucks) Reflective of its mission, Starbucks bases its strategic campaign and communications on six indispensable philosophies; structuring a pleasant work environment in which employees are treated with “respect and dignity,” incorporating diversity in all business aspects, purchasing, roasting and delivering fresh coffee, retaining satisfied customers, giving back to the community and environment, and developing …show more content…
While Starbucks maintains its grip on the number one spot, McDonald’s recent introduction of its espresso line may have affected Starbucks’ market share. It was down 20 percent of its value in 2007, while McDonald’s was up 12 percent (Christy).
SWOT Analysis (Market Analysis Summary): Strengths-
Starbucks has built an extremely strong brand name and consumer loyalty. The company has expanded rapidly and plans to continue to do so. Starbucks has built partnerships and developed licenses and franchises to continue to grow its brand name in many aspects of the coffee and retail industries. Weaknesses-
Its high priced coffees may be out done by up and coming competitors like McDonalds and Dunkin’ Donuts. As a result of increasing prices on its high end ingredients and specialty brewed products and flavors, the company has to continually increase its prices. While its current consumer is typically not abashed by higher cost products, it may deter new clientele from trying its products and narrow its consumer target. Opportunities-
Starbucks is extremely innovative when it comes to marketing ideas. Through its numerous partnerships with grocery stores, franchises, record labels, and electronic companies and outside venders, Starbucks has the opportunity to expand its brand name to places it may not usually be seen. This would encourage its brand awareness and insure its hold in the market as a leader. Globally,