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  • Essay / Starbucks Marketing - 1589

    Starbucks opened in Seattle's Pike Place Market in 1971 in hopes of creating a "third place" between home and work. Starbucks was created to produce premium quality coffee, while adhering to various fundamental principles during times of economic growth. “The company realized that people don’t just come for the coffee; they come for the atmosphere” (Kembell). Customers can socialize, read, study or listen to music while drinking coffee. Starbucks strategically positions each store in hopes of matching the specific location, helping to create a unique atmosphere. Throughout this article, I will analyze the current domestic and international marketing strategy of Starbucks through SWOT (strengths, weaknesses, opportunities and threats) analysis, in order to come up with 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 implementing the highest standards of excellence. On average, Americans drink 3 cups of coffee per day, but it's difficult to make an accurate estimate because each customer has their own rate. Starbucks strives to perfect its relationship with the working class by making service as fast as possible. By offering consumers the opportunity to purchase brewing equipment such as espresso machines, coffee filters and cleaners, Starbucks can now advertise in residential areas outside the store. While McDonald's, Coca-Cola and Nike fill TV ad time with national audiences, Starbucks has chosen to take an unconventional marketing approach. According to Brad Stevens, Starbucks' chief marketing officer, "a lot of the paper was in the middle when the economy was struggling." “Starbucks went back to basics and tackled the basics with a science and intensity that no one has ever done before” (Allison).Reference:1. Allison, Melissa Takes a Unique Approach to Marketing (October 12, 2006).2. Adam. What you can learn from Starbucks. Inc.com/Articles/Marketing.3 Howard, Theresa Starbucks champions the cause of safe drinking water. USA Today (August 2, 2005).4. Starbucks Fever: Starbucks marketing strategy. Missouri State University. (April 2002).5. Kleppinger, Meghan. Starbucks: An easily broken habit. /www.starbucks.com7. Aim, Matt. Chasing Starbucks Status (July). 15, 2004).