Report on Marketing Planning and Research
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Added on 2020-04-13
Report on Marketing Planning and Research
Added on 2020-04-13
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Running head: MARKETING PLANNING AND RESEARCHMarketing Planning and ResearchName of the StudentName of the UniversityAuthors NoteCourse ID
MARKETING PLANNING AND RESEARCH1Table of ContentsIntroduction:...............................................................................................................................2Macro Environment Analysis:...................................................................................................2Micro Environment Factors:......................................................................................................4Competitive Strategy:.................................................................................................................5Marketing Strategy:....................................................................................................................6Marketing Segmentation, Targeting, and Positioning:..............................................................7Marketing Research:..................................................................................................................8Major Discover and Findings:....................................................................................................8Illustration of the Primary Data:................................................................................................8Marketing Mix:..........................................................................................................................9Detailed Strategy for one element of the marketing Mix:..........................................................9Controls:...................................................................................................................................10Contingency Planning:.............................................................................................................10Reflective Statement:...............................................................................................................11Primary Data Collection:..........................................................................................................13Conclusion:..............................................................................................................................15Reference List:.........................................................................................................................16
MARKETING PLANNING AND RESEARCH2Introduction:Starbuck is an American Company that is founded in Seattle and currently it isconsidered as the premier marketer and retailer of the special coffee throughout the world.The company has around 182,000 employees with more 19,500 outlets throughout the worldin 62 countries. Starbucks offers variety of products and their range of products comprises ofhigh quality coffee of premium price, tea, and wide range of food items with other beverages.The company also provides wide variety of tea products with license and trade through theirchannel of distribution (Armstrong et al., 2014). The report is based on proposal of newmarket strategies in Singapore for Starbucks so that the company can expand its productsthroughout Singapore outlets. Macro Environment Analysis:Starbucks possess macro-environment of macroeconomic nature, which can beattributed to the constant economic recession internationally that has lowered the purchasepowers of the consumers (Ali & Talwar, 2013). The following macro-environment wouldoffer information regarding Starbucks macroeconomic conditions. Market Demographics: Starbucks will be focusing its marketing of products among thecustomers that are adult aged. This is because such age group does not have higher demandsfor coffee beans and coffee creamer but these products serve as the necessary means ofpurchase. Additionally it will also target the age group of students ranging from 18-24 yearssince they are the most likely consumers of the coffee creamers. Political: One of the most important concern of Starbucks is the sourcing of the new rawmaterials by attracting the politicians of the Asian countries like Singapore. The enables thecompany to remain reliant on the social and environment conditions and follow the strategy
MARKETING PLANNING AND RESEARCH3of sourcing in compliance with mutually agreed fair trade policies of the international firmsand national government of Singapore (Ahmed, 2014). Economic: The important economic constraint is constant recession that has been impactingthe profitability of the company. Starbucks faces the difficulties related to rising labour costand operation in the market. Social: The social factor that affects Starbucks is the rising demand of the customers isSingapore is for the cheap price products (Kotler & Armstrong, 2013). This becomeschallenge for Starbucks. Starbucks can easily provide products at cheaper but then thecompany faces problem of lower product quality due to cheaper pricing of the products. Thismay be a challenge in expanding and acquiring new customer in Singapore, Technological: Starbucks is presently using the technological advancement by collaboratingwith Apple to provide discount coupons for customers (Armstrong et al., 2015). Starbucksmight offer new method of payment through mobile application, which the company istesting and practicing in USA. Environmental: International advocacy, activist and customers present concern forStarbucks. Therefore, the company needs to be aware of such concerns in order to enjoycontinuous success in Singapore. Legal: Starbucks should be make sure that is aware of the legal environment of Singaporewhere it intends to expands since it has to source the raw materials in the home markets(Lilien et al., 2013).
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