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Social Media
losing revenue and shifting market segment from High income, well-educated,
lower income bracket- than their more established customers- had less
frequent visits and had a different perception of Starbucks. Starbucks had lost
the connection between satisfying customers and growing the business under
threat of global economic crisis. This was the big concern which had been
their confusion to the customers by using online social media tools to involve in
the community and search out, get advice for new product offers and build
strong relationship over the social media to recover the Starbucks experience
REVENUE
Weaknesses
➢ Having more expensive price than the competitors
➢ They have expanded too quickly, and have already saturated the US
market
Opportunities
➢ Expansion into European, Asian and Latin American markets
suppliers
market share
customer needs
➢ Joint ventures that can expand the firm’s market coverage or boost its
competitive capability
Threats
➢ The coffee market is oversupplied
McDonalds
3. Being behind the technology and not aware of how to revolutionize the way to
I prefer to go with IMAGE young customers rather than GOURMET COFFEE adult
focused segment. Main reason for that is because it is more profitable and it is an
open opportunity to reach the called Generation Y. This segment is loyal, ready to by
any new product, computer savvy, the visit ratio is more than the other segment and
admitted that Starbucks had lost its soul. As part of Mr. Schultz's multifaceted
its brand strengths on Facebook, running several ad campaigns to align its fan base,
even to the point of offering free ice cream this past summer. Some say luring fans in
with freebies means fleeting success, but Starbucks' fan page is growing, over 3
percent per week, according to all Facebook, putting it on track to overtake Will
775,000 Twitter followers could be tougher for a dental-floss brand. "Maybe we have
an unfair advantage because in so many ways Starbucks and the store experience is
like the original social network," he said. Consumers "come in, hang out and talk to
our store partners. They sort of got to know us as a brand in a very social
way."(York, 2010)
F. Alternatives
Product
Customers have enjoyed the experience at Starbucks and now for those who seek a
high quality coffee and non-coffee drink can enjoy the same experience. By
introducing these CafeTurco and new summer drinks dark chocolate flavour
FrappaLaTurco, Starbucks will enjoy an entirely new segment to market its products
to existing customers who will begin consuming the new drinks. The new coffee
product could serve in small porcelain cup like espresso at Starbucks restaurants. The
cold drink FrappaLaTurco is a potential bottled summer drink with fancy design on it.
Price
Starbucks summer drinks are priced significantly lower than the specialty summer
drinks. The benefits for consuming a Starbucks drink are quite high for most
consumers. The price of the drink is low enough to gain market share, while still
Starbucks allocates new beverages directly to customers its own retail stores. Also it
will be convenient for customers to buy these new products at the other distribution
channel. These new products will be available year round. Most likely the best place
Promotion
The internal advertisements within retail stores, such as posters, new product
signage is most convenient way to reach the customers. However, web sites, social
media, cell phone app. magazines, newspaper, in store TV commercials and spot in
the local radio channels would be meaningful to the target group. Starbucks has
savvy via the computer. I highly recommend a web campaign would be aimed to
increase awareness of the summer drinks. Websites that are highly reputable or that
They can purchase either from Starbucks store or retail stores with the reasonable
price. That segment individuals will promote its product by word of mouth campaign
and their rich social media skills such as Facebook, twitter and texting as well as its
promotional strategy over World Wide Web and the other channels.
Morrisey, Brian. "Hoping to find some new fans for a great brand ..." Brandweek
(10/12/2009): Vol. 50 Issue 36, p13-15, 3p.
York, Emily Bryson. "Starbucks Gets Its Business Brewing Again With Social Media." 3
March 2010. Advertising Age. <http://adage.com/>.