Week 1 Discussion 2

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Ashford University *

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622

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Marketing

Date

Feb 20, 2024

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docx

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Uploaded by AgentOkapi3516

This content is Public. Starbucks has grown from its origins with a single store in Seattle in 1971 into an international powerhouse with over 36,000 stores in 84 different markets (Company Profile, 2023). Starbucks engages in Global Marketing of significant scope by pursuing global opportunities and addressing global threats (Green & Keegan, 2020). They accomplish this by promoting unique products in various markets with a common sustainable, environmental, and high-quality theme. Starbucks executes its global marketing strategy utilizing a Marketing Mix that focuses on turning a commodity into an up-scale product. The primary product for Starbucks is coffee, and while they offer regular black coffee, the primary focus is on upscale coffee beverages. These upscale coffees are priced higher than regular coffee as a luxury beverage. As mentioned, Starbucks has locations in 84 different markets, taking advantage of global opportunities and many locations in each market, allowing proximity to customer epicenters. Lastly, Starbucks promotes its products through various social media campaigns, signature drinks for each season, and deals promoted in its app. The focus on their luxury product and various themed drinks is a competitive advantage for Starbucks in an otherwise crowded marketplace selling coffee products. When competitors began to enter the coffee market, pulling market share from Starbucks, they struggled with their product/market expansion framework , failing to develop new products that reinforced their luxury coffee brand and retain customers. Another struggle for Starbucks has been restraining forces affecting global marketing, such as recent negative perceptions of globalization and ‘support local’ campaigns (Green & Keegan, 2020). However, Starbucks has benefited greatly from the driving forces affecting global marketing, such as converging market needs and wants, and through marketing drivers with the rapid dissemination of information through social media that has allowed people around the globe to compare themselves to others (Green & Keegan, 2020). Thanks to these forces, a luxury product like Starbucks coffee was able to become more than just a commodity. As a consultant, I would propose Starbucks leverage its upscale brand into partnerships in offices to utilize Starbucks machines and coffee. This could be a new lucrative market, but by serving their coffee at the office, Starbucks can reach new customers apt to visit their locations when not working and retain current customers. The second recommendation would be to pull from the massive global experience and offer a “taste of” type promotion and products throughout the Starbucks locations. This campaign takes advantage of the work already done when Starbucks expanded into new local markets, providing the consumer an opportunity that other coffee providers cannot match. Green, M. C., & Keegan, W. J. (2020). Global marketing (10th ed.). Pearson. Company profile . Starbucks Stories. (February 2023). https://stories.starbucks.com/press/2019/company-profile/

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