Strategic Marketing of Starbucks
Added on 2020-12-31
14 Pages4715 Words65 Views
STRATEGIC MARKETING
EXECUTIVE SUMMARY Report highlights the launch of new product by Starbucks that is coffee flavour of freshvanilla with caramel in Nigeria country. Starbucks is a well- known brand of coffee shop thatsupplies different variety of coffee beverages to their customers. It is located in approx 30000areas worldwide. The report will throw light on PESTLE analysis that is conducted to examinethe available opportunities and threats that Starbucks will going to face in Nigeria. Introductionof new coffee flavour will assist in generation of various negative impacts which have to behandled by Starbucks in effective manner and this can be removed by conducting PESTLEanalysis. Apart from that, Starbucks should adopt porter generic strategy to gaining competitiveadvantages properly. In this procedure, different dimension helps to analyse strength, potentialsand different core competence of business organisation. After implementing this strategy,Starbucks can easily distinguish organisation's targeting segmentation and its competitive scopeto make positive modification and alteration in their business strategies.
Table of ContentsEXECUTIVE SUMMARY ............................................................................................................2INTRODUCTION ..........................................................................................................................4TASK 1 ...........................................................................................................................................5PESTLE analysis of Nigeria to launch new flavour of coffee including opportunities andthreats .........................................................................................................................................5TASK 2............................................................................................................................................6Assess three modes of market-entry...........................................................................................6TASK 3............................................................................................................................................6Market segmentation and targeting.............................................................................................6TASK 4............................................................................................................................................6Porter's generic strategy..............................................................................................................6CONCLUSION ...............................................................................................................................6REFERENCES ...............................................................................................................................6
INTRODUCTION Strategic marketing is an effective process that involve coming up with new andinnovative idea in order to satisfy customer's needs and wants. Organisation apply this concept toexamine the current market situation that is prevailing and make decision accordingly so that itresults in increase in growth and productivity at significant level. It also involves coming up withnew product that is launched by studying the preference or behaviour of consumers and result ingratifying their desires (Preston, 2012). The report is about new product that has been introducedby Starbucks which is new flavour of coffee (fresh vanilla with caramel) in Nigeria country.Starbucks is well known brand name in coffee house chain and was established in Seattle,Washington. It is different from other competitors due to its quality, taste as well as consumer'spreference which make them unique and famous. This assignment will highlight the discussionabout PESTLE analysis that will assist in examining various threats and opportunities that willbe faced by company in new country. Apart from it, evaluation of market segmentation andtargeting is performed to study potentials of target market. TASK 1 PESTLE analysis of Nigeria to launch new flavour of coffee including opportunities and threats Business organisation produce some products or services in order to meet needs andwants so customers at market place (Dibb, 2012). Hence, they have to introduce some new anddeveloped product to assist their existing growth and development. Keeping this in view,Starbucks should introduce new coffee flavour in Nigeria and the main reason behind it is to testthe customer's response to new flavour as well as to expand their current growth. Officially thefederal republic of Nigeria, is the constitutional republic comprising 36 states and its capitalterritory, Abuja. The country is located in west Africa and shares border with Republic of Beninin west, Chad and Cameroon in the east and Niger in the north (Fagboteand Olanipekun, 2010). Nigeria is often referred to as the giant of Africa due to large population and economy. Inthis context, pestle of a particular environment is adequately analysing, it provides the conciseinformation of the market in which a company intends to operate thereby enabling it to makeforecasts about future changes. PESTLE analysis helps to know the business environment of thecountry while launching a new product. It is describing in detail with relation to emerging
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