7MK513: Marketing Strategy Proposal for Starbucks Corporation

This report provides a comprehensive marketing strategy proposal for Starbucks Corporation, analyzing its current market scenario and future growth potential. It begins with an executive summary and introduction, followed by a marketing audit utilizing SWOT and PESTLE analyses to evaluate internal and external factors influencing the company. The report identifies Starbucks' strengths, such as its brand reputation and diversified workforce, and weaknesses like premium pricing. It explores opportunities in developing markets and addresses threats from competitors and changing consumer preferences. The PESTLE analysis examines political, economic, socio-cultural, technological, legal, and environmental factors. The report then proposes marketing objectives, including brand experience and product innovation, and outlines a strategic marketing plan covering market segmentation, targeting, and positioning. Finally, it introduces a tactical marketing mix proposal incorporating the 7Ps: Product, Place, Price, Promotion, Process, Physical, and People, to guide Starbucks' marketing efforts. The report is a student assignment for the University of Derby's 7MK513 module.