Topic > Starbucks Marketing - 1589

Starbucks opened in Seattle's Pike Place Market in 1971 with the hope of creating a "third place" between home and work. Starbucks was created to produce premium coffee, adhering to various core principles during economic growth. “The company understood that people don't just come for the coffee, but for the atmosphere” (Kembell). Customers can socialize, read, study or listen to music while drinking coffee. Starbucks strategically places each store with the hope of matching the specific location, helping to create a unique atmosphere. In this article I will analyze Starbucks' current domestic and international marketing strategy through SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis, to provide new ideas leading to market segmentation. Starbucks is a global company that sells authentic coffee in 30 countries. , reporting revenues of nearly $5.1 billion in 2006 (Starbucks Marketing Plan). Starbucks' primary goal is to embrace diversity by applying the highest standards of excellence. On average, Americans drink 3 cups of coffee a day, although it's difficult to make an accurate guess because each customer has their own personal rate. Starbucks is committed to perfecting its relationship with the working class by making service as fast as possible. By providing consumers with the ability to purchase brewing equipment such as espresso machines, coffee filters, and cleaners, Starbucks can now advertise in residential areas outside of the store. While McDonald's, Coca-Cola and Nike fill television advertising space for a national audience, Starbucks has chosen to take an unconventional approach to marketing. According to Brad Stevens, chief marketing officer of Starbucks, “A lot of the…middle of the paper……and when the economy was struggling.” Starbucks has gone back to basics and approached the basics with a science and intensity that no one has ever done before. Reference: 1 Allison, Starbucks Takes a Unique Approach to Marketing (October 12, 2006). Adam. What you can learn from Starbucks. Inc.com/Articles/Marketing.3 Howard, Starbucks Takes on Safe Drinking Water Lawsuit.USA Today (August 2, 2005).4 Starbucks Fever: Starbucks Marketing Strategy. Missouri State University (April 2002).5. Kleppinger, Starbucks: An easily broken habit. (August 10, 2005). /www.starbucks.com7. Matt, Seeking Starbucks Status (July 15, 2004).