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Starbucks SWOT Analysis and Market Research

   

Added on  2019-09-16

2 Pages626 Words218 ViewsType: 218
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Starbucks has one of the world’s strongest and most popular brands. The company also has a growing population of loyal customers who prefer Starbucks based on quality and the brand. In addition, the company has a global network of suppliers. The firm has also acquired businesses as subsidiaries, such as Ethos Water, Seattle’s Best Coffee, and Teavana. This part of the SWOT analysis shows that Starbucks is resilient through diversification and a global supply chain.For the weaknesses, the relatively higher prices of Starbucks products make them less accessible to the large population of lower-middle class and lower class consumers. Most Starbucks products are also based on generalized corporate standards that make the products less aligned in terms of products and café ambiance. This part of the SWOT analysis shows that Starbucks must innovate to overcome its weaknesses, especially the imitability of products.Starbucks has the opportunity to expand in the Middle East and Africa, where the firm currently has minimal presence. The company also has the opportunity to expand in Asia, where economic growth rates are high. In addition, even though Starbucks already has a considerably diverse product mix, further diversification can help improve its competitive advantage. Partnerships and alliances can also strengthen Starbucks Coffee’s competitive position. This part of the SWOT analysis shows that Starbucks has major opportunities for global growth.For the threats, low-cost coffee from firms like McDonald’s and Dunkin’ Donuts effectively compete against the more pricey Starbucks products. Also, other companies can imitate the business. Many competitors have already imitated Starbucks and succeeded, such as Stars and Bucks, a coffeehouse in the Palestinian Territories. There is also a growing social movement supporting independent coffeehouses and opposing large coffeehouse chains like Starbucks. This part of the SWOT analysis shows that Starbucks must ensure competitive advantage amid potential negative effects of the identified threats, especially imitation and competition. Over the past few years, Starbucks has been conducting market research in a very interesting way. In 2010, Starbucks created a website called “My Starbucks Idea,” where consumers have the opportunity to share their thoughts on what the company can improve upon
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