This paper is a marketing plan for Starbucks Corporation in the specialty coffee industry.
Written in 2004; 1,700 words; 1 sources; MLA; $ 55.95
Paper Summary:
This paper explains that Starbucks Corporation's target markets are determined through demographic segmentation, particularly age segmentation, and are generally classified into two divisions, college students and business executives. The author points out that the Starbucks Corporation's pricing strategy is largely based on competition. With prices ranging from a minimum of $8 and a maximum of $18, Starbucks coffees are in the average price range for the specialty coffee market. Starbucks? wide range of business activity allows it to utilize numerous channels of product distribution. The paper relates that the company adapts vertical channel integration, wherein the corporation owns and operates its own production facilities, warehouses, and retail stores.
"The introduction of new products in the company is seen through the promotion of the following products: the ready-to-drink Starbucks Doubleshot, Starbucks Ice Cream, and Starbucks Coffee House Blend brand. The RTD drink Doubleshot is a new Starbucks product aimed to satisfy the needs of consumers who are always in a hurry. Thus, Doubleshot is a Starbucks product that is ?[t]he ideal way to start a busy day!? Meanwhile, Starbucks Ice Cream is a product aimed mainly to college students who love the traditional Starbucks traditional coffee beverage taste ice cream form, and this product is available in six (6) flavors. Lastly, the special signature brand House Blend Coffee of Starbucks introduces a new way wherein home-based consumers will also enjoy the goodness of Starbucks coffee. This product comes in different flavors (ranging from African, Arabian, to French Roast flavors), customized to fit the coffee-lover's taste and need for new, yet, equally delicious taste of the traditional Starbucks coffee."
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