This report explores the concept of brand strategy, with a focus on Starbucks. It discusses the components of brand strategy, including emotions, symbols, culture, brand equity, and brand communication. The report highlights how Starbucks has successfully implemented an effective brand strategy to achieve success in the market.
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Brand Strategy
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BRAND STRATEGY1 Executive Summary The main purpose of this report is to enhance the learningthe concept of brand strategy of the organisation. In this report, Starbucks has been taken into consideration to analyse the business strategy. Business strategy of the company is classified in the different components such as brand equity, brand assets, brand performance. Symbols and emotions are also discussed in order to analyse the effective business strategy. Starbucks have the effective business strategy in order to achieve the success.
BRAND STRATEGY3 Introduction Brand strategy is a plan that helps to achieve the long-term goals with the successful growth of brand. The different component of the company helps to make it identifiable. A well-executed brand strategy of the organisation affects all factors of a business such as consumer emotions, needs and competitive environment of the market. Brand strategy reflects about the product, logo, website and the name. The stuff that feels intangible but it’s develop the separate identity and name of the brand. There are different components of a comprehensive branding strategy which states the meaning, emotions, flexibility, consistency, cultural, etc(Neuvonen, 2016). Different company have different identity and business strategy which helps to gain the high growth in the market. The main objective of this report is to learn the concept of the brand strategy of the organisation. In this report, Starbucks has been taken into consideration in order to analyse the brand strategy. Starbucks is a coffee company of America which was founded in Seattle, Washington in the year 1971. It is recognised as the main representative of the coffee brand which delivers the coffee serving venues. The quality, customer experience and the taste of the company is popular in the market(Starbucks, 2017). In this report, the different components of brand strategy of Starbucks will be discussed. The mainly focuses on the emotions, symbolic, cultural, brand equity, brand communication, brand Performance will be analysed. Discussion Emotions and Brands Starbucks use the emotional branding technique to create the emotional relation with the society. It is observed that the best brands are those that create something for the benefit
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BRAND STRATEGY4 for consumers as per the needs and requirements or beyond their requirements. Starbucks is the brand that develops something that people did not know their own needs. The marketing team of the company creates the environment due to which people are excited to taste it. It observed that there are millions of coffee shops in the different countries before launching the Starbucks coffee. But the taste offers by the company is always give the best experience to consumers. The company provides the coffee with the sweet emotions. It creates the different emotions for the different people such as it reminds the taste of home coffee for whom that live far from their house. The people show their emotions in the different form such as trust, joy, surprise, happiness towards the coffee. (Source: Fast Company, 2017) Symbolic Meaning of Brands The logo of Starbucks contains the siren in centre of the circle. This picture was contained from the old marine books as a logo. The picture of siren is the first rendition of the company logo. As the time passage, the company change the logo style over the years but the two tailed siren always at centre stage.
BRAND STRATEGY5 Siren is a choice which states the happiness to its unflattering parallels. It is creature that describe as an irresistibility sweet voice because she stand unbound, inviting all of us in to explore, sharing our stories and to connect with each other. This creature always inspires the organisation and always tries to pushing the Starbucks ahead(Starbucks, 2017). (Source:Starbucks, 2017) Cultural Meaning of Brands Starbucks shows at the best global branks rankings and it clearly commonality between the top ones. It is essential for a brand to develop from day one that evolves along with the every company. The point of distinction of Starbucks can never be copied or measured by the other company. The organisation remarked as the top 100 currently best global brands and it was able to turn an ordinary products into an extraordinary experience to the customers. Starbucks culture worked as a means to positively change communities where the company directly or indirectly set its feet in. the company is able to achieve all of the fundamental things that combine to form a culture belief, customs and artefacts. The belief of the company is to nurture the spirit of a human. The company translate their belief into daily actions which is considered as the brand custom. The two main custom represent by the company is the regularity in the services provided and the second is positively environment
BRAND STRATEGY6 that surprising the customer and provide the good experience. Artifacts of the company are its cup in which it serves the coffee. The company come up with the new branded containers that can be carrying around in the different locations such as universities, malls, offices, TV and many others(Barbosa, 2015). Brand Equity Brand Equity refers the value of the organisation that generates from its delivering its services with its name when it compared to generic equivalent. The brand equity of the company is classified in the different terms such as brand awareness, brand assets, brand associations, brand loyalty, and brand elements. The company comes in the partnership with the Apple to make coffee shop experience more entertaining. The marketing campaign and promotion activities of Starbucks help to aware the consumers towards its services. Brand assets of Starbucks is its services which is provided by the company to its consumers such as sandwiches, cakes, salads, beverages, teas and many other items. Brand elements of the company are its logo which always catches the attention of large number of people. Brand loyalty of the consumers is the biggest coffee chain as it serves original ingredients at an affordable cost by keeping its health and cost conscious consumers in mind. Brand association states the connection with the community by offering the different type of services to its consumers. Starbucks is one of the main dealers of fair trade certified coffee. The purpose of this movement is to betterment of farmers and their farms(Sasmita, & Mohd Suki, 2015). Brand Communication Brand communication strategy of the company applies through publicity, advertising, launch offers and by using the social media. The first campaign title of the company is “meet me at Starbucks”. These are the most important tools of the company which is used to get
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BRAND STRATEGY7 close to the customer with its services. The communication strategy of the company builds the existence in the market place. The reason behind the effectiveness of brand communication strategy of the company is web is the content hub, makes it easy to share content, content is integrated across the channels, consistent branding, and engage consumers (Burmann, Riley, Halaszovich, & Schade, 2017). Brand Performance The expansion of business at the global level is rapid and strategic. It is the number one preference of consumers in the coffee shops. It is recognise as the representative of second wave coffee. The approach of the company is to gather the customer information which is quite unique and different as compared to organisations at the global level(Martin Roll, 2017).The company mainly focuses on to inspires and nature the human spirit – one cup, one person and one neighbourhood at a time. Starbucks is an organisation that has a good management in terms of innovation. The timeline is the reasons of achieving the success by the organisation because it helps to generate the consistency at high levels of same store sales(Steenkamp, 2017). Conclusion At the end, it is concluded that the Starbucks adopts the high brand strategy in order to achieve the success in the market. The coffee services provided by the company create the different entity due to its excellent taste. Brand strategy of the company is classifies in the different components such as brand equity, brand communication and many others. In this report, the analysis is made on the brand communication, brand performance, brand equity, Cultural Meaning of Brands, and emotions created by the company. As per the analysis, it states that the company culture, logo attracts the consumers towards the services of
BRAND STRATEGY8 Starbucks. Brand strategy of the company is considered as the effective as compare to the other coffee shop. The company gain long term advantage due to its effective brand strategy.
BRAND STRATEGY9 References Barbosa, H. (2015)Starbucks: When Brand Equals Culture, The Extraordinary Happens. Retrieved from: https://www.brandsforbreakfast.com/single-post/2015/01/28/STARBUCKS-WHEN- BRAND-EQUALS-CULTURE-THE-EXTRAORDINARY-HAPPENS Burmann, C., Riley, N. M., Halaszovich, T., & Schade, M. (2017). The Foundations of Identity-Based Brand Management. InIdentity-Based Brand Management(pp. 1-16). Springer Gabler, Wiesbaden. Fast Company. (2017).How Starbucks Transformed Coffee From A Commodity Into A $4 Splurge.Retrieved from: https://www.fastcompany.com/1777409/how-starbucks- transformed-coffee-commodity-4-splurge Martin Roll. (2017).The Secret to Starbucks’ Brand Success.Retrieved from: https://martinroll.com/resources/articles/strategy/secret-starbucks-brand-success/ Neuvonen, H. (2016). Toward a model of brand strategy adoption.Journal of Brand Management,23(2), 197-215. Pappu, R. and Christodoulides, G., 2017. Defining, measuring and managing brand equity. The Journal of Product and Brand Management,26(5), pp.433-434. Sasmita, J., & Mohd Suki, N. (2015). Young consumers’ insights on brand equity: Effects of brand association, brand loyalty, brand awareness, and brand image.International Journal of Retail & Distribution Management,43(3), 276-292. Starbucks. (2017).About Us.Retrieved from:http://www.starbucks.in/about-us Steenkamp, J. B. (2017).Global brand strategy: World-wise marketing in the age of branding. Springer.