Starbucks case write up 2

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Old Dominion University *

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485W

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Marketing

Date

Feb 20, 2024

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docx

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Uploaded by chriscarter

Starbucks case write-up 2 1. What are the functional strategies Starbucks focuses on? What is their overall business strategy? Starbucks's functional strategies focus on continuously introducing new beverages and food items to its menu. They often collaborate with well-known brands to create limited- time offerings. This strategy keeps customers engaged and encourages repeat visits. While Starbucks's overall business strategy is to offer a unique coffeehouse experience focused on high-quality coffee, personalized service, and a welcoming environment. 2. Based on industry changes, what if any changes do you recommend to either their functional or business strategy? One recommendation I would make to their functional and business strategy given the growing emphasis on sustainability and ethical sourcing in the food and beverage industry would be that Starbucks should maintain its commitment to these values. This includes reducing the environmental footprint of its operations and further supporting coffee farmers. If they communicate these efforts effectively to consumers it can enhance brand loyalty. 3. Based on Context-specific strategies, how fragmented is the industry Starbucks is in? What are the implications? The industry exhibits a pronounced concentration at its upper echelons while displaying fragmentation at its lower levels. The dominant companies at the top possess the lion's share of the market. This implies that product and service innovation is necessary in order to stay competitive in the market and attract new or existing customers successfully. 4. What stage is the industry in? What does that imply? As the specialty coffee industry moves through the lifecycle, what context-specific strategies should Starbucks employ to remain competitive? The coffee industry's lifecycle stage is considered mature. This means that many big companies such as Starbucks, Dunkin Donuts, etc. have a big presence in this industry and have their brand and reputation. The growth is steady and it could be affected by the new products that other companies are offering. For Starbucks to remain

competitive they should add new seasonal flavors instead of sticking to the same ones eat year. Start collaborating a bit more with different celebs and make new drinks through that. Start having better customer feedback such as offering points for feedback on the app. Also, work more the charities and allow for a percentage of drink purchases to go towards donations.

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