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Marketing Strategies of Costa Coffee

   

Added on  2021-02-19

16 Pages3873 Words409 Views
INDUSTRY MARKETINGREPORT
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EXECUTIVE SUMMARYThis report conducts an extensive research of the Coffee industry in the UK economy throughanalysing the various marketing activities and strategies of the industry. The Costa Coffeecompany, second largest coffee brand outlet in the world has been taken for implementation ofthe marketing strategies and conclusions thus formed. SWOT, PESTLE, Competitor Matrix,BCG Matrix, Ansoff Matrix are a few tools used for analysing the coffee industry and all therelevant data and figures related to different market segments like Socio-demographic, Psychographic and behavioural have been discussed. This report also highlight the 7 P analysis ofCosta Coffee.
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Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4MAIN BODY...................................................................................................................................4TASK 1............................................................................................................................................4Valid and relevant statistical indicators of UK coffee market....................................................4Concise argument utilising current literature..............................................................................5Summary of marketing Models...................................................................................................6Viable Marketing Opportunities.................................................................................................7TASK 2............................................................................................................................................8Examine market segments through statistical data.....................................................................8Segments driving growth in UK Coffee Market.........................................................................9TASK 3............................................................................................................................................9Approaches to marketing strategies and 7 P's of Marketing Mix..............................................9CONCLUSION AND RECOMMENDATIONS..........................................................................11REFERENCES..............................................................................................................................13
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INTRODUCTIONIndustry refers to a particular sector in which a number of companies having the samebasic product compete with each other trying to become superior over the other one. This reporthighlights the importance ad trends of coffee company in UK market so that appropriatemarketing strategies can be formed for Costa Coffee company. Costa Coffee is a UK basedinternational coffee bran outlet operating in 31 countries having 3401 stores. The revenue of thecompany was £1.167 billion in 2016. This report links the company towards its variousmarketing strategies that it should adopt after careful analysis of the coffee industry in UK'seconomy. MAIN BODYTASK 1Valid and relevant statistical indicators of UK coffee market.At present, the coffee market in UK is steadily growing and turning profitable for companies likeCosta Coffee who are established brands in UK. The data relevant to this industry for year 2019is :-The current valuation of coffee shop market is £10.1 billion through 25483 storesthroughout UK and there has been a steady increase of 7.9% in sales yearly since twodecades but the turbulence that Brexit has created is yet to show its impact.In the past 18 months, UK coffee market has faced consolidation like Costa Coffee wasacquired by Coca Cola for £3.9 billion (UK Coffee Market Analysis, 2018). Similarly,Pret A Manger was acquired by JAB Holding for £1.5 billion. Also, around 22 storeswere acquired by Department of Coffee and Social Affairs in 2018.Starbucks, Costa Coffee and Caffe Nero are three major coffee oriented brand chains andhave 992, 2655 and 683 stores in UK respectively. It is forecasted that by year 2023, UKbranded coffee market will grow by opening 10000 more outlets (Kotler and et.al.,2015).It was ascertained that the consumers are giving preference to those coffee brands whosedigital marketing game is very strong and 45% industry leaders agreed that digitalmarketing is given most attention. However, the quality of coffee served is still aprimary factor in attracting customers.4
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