Assessing the Marketing Environment Case Study

Professional Certificate
in Marketing (New Syllabus)
521 – Assessing the Marketing Environment
Starbucks Case Study
March 2009
© The Chartered Institute of Marketing 2009
© The Chartered Institute of Marketing 2009 All rights reserved. This assessment, in
full or in part, cannot be reproduced, stored in a retrieval system or transmitted in any
form or by any means, electronic, mechanical, photocopying, recording or otherwise,
without prior written permission of The Chartered Institute of Marketing.
Assessing the Marketing Environment Case Study March 2009 – New Syllabus
Important notes for candidates
The examination is designed to assess your knowledge and understanding of the
Assessing the Marketing Environment syllabus in the context of the chosen case
study. The examiners will be marking your scripts on the basis of questions put to
you in the examination room. You are advised to pay particular attention to the mark
allocation on the examination paper and plan your time accordingly.
Your role is outlined in the Candidate’s Brief and you will be required to recommend
clear courses of action.
You are advised not to waste valuable time collecting unnecessary data. The cases
are based upon real-life situations and all the information you will require about the
chosen organisation is contained within the case study. No useful purpose will
therefore be served by contacting companies in the industry and you are strictly
instructed not to do so as it may cause unnecessary confusion.
As in real life, anomalies may be found in the information provided within this Case
Study. Please simply state your assumptions, where necessary, when answering
questions. The Chartered Institute of Marketing is not in a position to answer queries
on case data. You are tested on your overall understanding of the case and its key
issues, not on minor details. There are no catch questions.
As part of your preparation for the examination, you need to carry out a detailed
analysis of this Case Study. You will then need to condense your analysis into both a
PESTEL and a SWOT analysis (a maximum of FOUR sides of A4, no smaller than
font size 11). Although no marks are awarded for the analyses, you will be awarded
marks for how you use them to answer the questions set. The analyses must be
attached, with a treasury tag, to your answer booklet at the end of the examination.
The copying of pre-prepared ‘group’ answers, including those written by
consultants/tutors, or by any third party, is strictly forbidden and will be penalised by
failure. The questions will demand analysis in the examination itself and individually
composed answers are required in order to pass.
Important Notice
The following data has been based on real-life organisations, but details have been
changed for assessment purposes and do not necessarily reflect current
management practices of the industry or the views and opinions of The Chartered
Institute of Marketing.
Candidates are strictly instructed NOT to contact individuals or organisations
mentioned in the Case Study or any other organisations in the industry. Copies of the
Case Study can be downloaded from the CIM student website
www.cimlearningzone.co.uk
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Assessing the Marketing Environment Case Study March 2009 – New Syllabus
PROFESSIONAL CERTIFICATE IN MARKETING
ASSESSING THE MARKETING ENVIRONMENT
CASE STUDY
Preparation
In preparation for the examination you will need to analyse the Starbucks case
material provided in order to prepare both PESTEL and SWOT analyses of the
company. You will be given a clean copy of the Case Study on the day of the
examination, but you should bring your PESTEL and SWOT analyses with you into
the examination. Your written analyses should not exceed FOUR A4 pages and must
include your CIM membership number on each page. The written analyses should be
submitted with your answer book as appendices on completion of the examination.
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Assessing the Marketing Environment Case Study March 2009 – New Syllabus
CASE STUDY
Starbucks Corporation
Introduction
The Starbucks Corporation is the leading retailer, roaster and brand of speciality
coffee in the world. The first outlet was opened in Seattle in 1971 and international
expansion started with the opening of a coffee shop in Japan in 1996. Entry into the
UK occurred in 1998, with the opening of 65 coffee shops. By early 2007, the
company had opened 13,165 outlets worldwide. This comprised 9,400 based in the
US and 3,765 in the 38 other countries where the company operates.
The principal activity of the Group is the purchase and roast of high-quality whole
bean coffee. These beans are sold along with fresh rich-brewed coffees, Italian-style
espresso beverages, cold blended beverages, a variety of food items, coffee-related
accessories and equipment, a selection of premium teas and a line of compact discs.
Mission Statement, Guiding Principles and Objectives
Starbucks’ Mission Statement is:
‘To establish Starbucks as the premier purveyor of the finest coffee in the world while
maintaining our uncompromising principles as we grow.’
The company has also established the following six guiding principles to help it to
measure the appropriateness of its decisions. These are:
•
•
•
•
•
•
to provide a great work environment and treat each other with respect and dignity
to embrace diversity as an essential component in the way we do business
to apply the highest standards of excellence to the purchasing, roasting and fresh
delivery of our coffee
to develop enthusiastically satisfied customers all of the time
to contribute positively to our communities and our environment
to recognise that profitability is essential to our future success.
The company’s objective is to establish Starbucks as one of the most recognised and
respected brands in the world. To achieve this goal, the company plans to:
•
•
•
continue rapid expansion of its retail operations
grow its speciality operations, and
selectively pursue other opportunities to leverage the Starbucks brand through
the introduction of new products and the development of new channels of
distribution.
Product Range
Starbucks’ product range includes:
•
•
•
•
•
•
30 blended and single-original espresso coffees
Tazo teas
Frappuccino bottled blended coffees and juice blends
DoubleShot coffees
Ethos water
premium ice creams
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Assessing the Marketing Environment Case Study March 2009 – New Syllabus
•
•
sandwiches, and
salads.
According to Key Note, Starbucks’ worldwide revenues are made up as follows:
•
•
•
value beverages 77%
food 14%, and
equipment and coffee beans 9%.
Laptop facilities and internet access are available in many branches and CD
compilations of its own ‘Hear Music’ music are also sold at the coffee shops and on
line. The company also has its own credit card.
Innovation
Starbucks seeks opportunities to drive growth and long-term success through
innovation. The company’s innovation programme includes the development of
imaginative new beverages and food offerings. Lunch programmes have been
expanded to a total of 4,150 stores and the facilities to offer warm pastries and hot
breakfast sandwiches have been introduced to many stores. Starbucks has also
continued to innovate, introducing a wide range of food and beverage options, from
indulgent treats to lower-fat and reduced-calorie choices for all consumers’ tastes.
Providing a consistent experience for customers is one of Starbucks’ greatest
strengths. At the same time, the company recognises the need to be respectful of
local communities throughout the world and aims to be locally relevant. When
possible, it modifies its store environment and customer experience in various ways.
For instance, menus have been adapted to include special food items in Asia,
Europe and elsewhere; the days and hours of store operations have been adjusted
depending on local customs; the unique character of local neighbourhoods has been
incorporated into architectural elements in store design; and different types of store
environments have been created that are culturally attuned to and meet customers’
needs.
In the UK, Starbucks has an initiative aimed at incorporating features that make its
stores relevant to the local communities. For example, in Manchester, Starbucks has
purchased several items for local stores from Benchmark Furniture Design, a local
maker of wood furnishings with a social mission.
Channels
The operations of the Group are carried out through two operating segments. These
are:
•
•
company-operated retail stores, and
the speciality operations.
The company-operated retail stores sell a wide range of regular and decaffeinated
coffee beverages, a variety of Italian-style espresso beverages, a choice of cold
blended beverages, a selection of iced shaken refreshment beverages and specialist
ranges of teas and roasted whole bean coffees which are distinctively packaged. All
channels outside the company-operated retail stores are collectively known as
‘speciality operations’. This segment includes the sale of coffee and tea products
through franchised channels and licensed trademarks.
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According to Key Note, 6,010 outlets in the US are company owned and 3,390 are
franchises. Outside the US, around 1,510 outlets are company owned and 2,255 are
licensed franchises. All of the UK outlets are company owned.
The UK is Starbucks’ second most important market after the US, representing 68%
of total Western European outlets. Although most outlets are located on high streets
and in shopping centres, Starbucks has also opened stores in other prime locations
such as:
•
•
•
•
bookshops
railway stations
department stores, including Harrods
Sainsbury’s supermarkets.
In addition, Starbucks products are sold in grocery multiples under licence to Kraft.
Marketing Strategy
Starbucks' marketing strategy focuses on positioning the local Starbucks outlet as a
‘third place’. This is the place where people would choose to spend time when they
are between home and work. The layout, design and atmosphere of their stores are
designed to reflect this, with comfortable chairs, and tables with hard-backed chairs.
Ample electrical outlets provide customers with free electricity for their portable music
devices or laptop computers. Most stores also have wireless internet access
(although this access is not free, as it is in some independent coffee shops).
Advertising and Promotional Activity
According to Key Note, there is little advertising done by Starbucks, which tends to
rely on the visibility on its outlets. However, there can be various point-of-sale
promotional activities and some advertising. Starbucks offers its own CD
compilations exclusively for sale at its outlets.
Competitive Structure
According to research by Key Note, rival Costa has overtaken Starbucks as the
market leader in terms of the number of UK outlets, although financial data show
Starbucks to have a significantly higher turnover than Costa. The third-largest player
in terms of outlet numbers and turnover is Caffè Nero.
Market Trends
The Fairtrade Foundation aims to obtain better prices and longer-term contracts for
people in developing countries, thus achieving a better standard of living for them.
According to Key Note, Fairtrade now accounts for an estimated 25% share of the
ground coffee market by value; its coffees have moved into the coffee shop sector
and Starbucks offers Fairtrade coffees in its outlets.
Longer working hours and shorter lunch breaks can work to the advantage of coffee
shop retailers, although they can face competition from other retailers offering similar
facilities, such as grocery multiples and department stores, according to Key Note
research. Women tend to be more significant users of coffee outlets than men, and
have a greater tendency to visit these outlets more than once a week. Frequent
coffee outlet usage tends to be highest among the over 35 year olds. Expansion
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Assessing the Marketing Environment Case Study March 2009 – New Syllabus
across the UK of coffee outlets by the major coffee shop retailers should lead to
improved profits and a much wider and expanding customer base.
A small amount of competition to coffee shops may come from domestic coffee
systems that will make expresso-type coffee at home comparable to that offered at
coffee outlets. However, research by Key Note suggests that after initial success,
sales of such coffee systems have declined.
Corporate Social Responsibility (CSR)
For 35 years, one of Starbucks’ goals has been to show that running a profitable
business and being a good neighbour are not mutually exclusive. Starbucks’
recognition as one of ‘100 Best Corporate Citizens’ by Business Ethics Magazine for
the seventh consecutive year is proof of the company’s conviction that, by choosing
to run the business a little differently, it can help create a better world for everyone.
Its approach to CSR includes developing ethical sourcing practices for products such
as coffee and cocoa, strengthening involvement in education programmes focused
on cultural diversity globally, funding water projects in developing countries and
reducing the company’s environmental footprint.
In 2006 the company reviewed its own arrangements for reporting matters relating to
CSR, to ensure they met international guidelines and standards. Specifically, the
topics and indicators covered in its CSR Report reflected Starbucks’ significant
economic, environmental and social impacts, and those of its stakeholders.
The assessment process was based on a variety of sources – both internal and
external. These sources included:
•
•
•
•
•
•
•
•
•
company objectives, strategies, policies, programmes and risk factors
partner (employee) surveys and other input gathered through various feedback
mechanisms
customer contact feedback
shareholder resolutions and anecdotal feedback
input gathered through stakeholder dialogues
informal input from coffee suppliers
media coverage and blog discussions of issues
stakeholder feedback specific to Starbucks’ CSR Report
Global Reporting Initiative (GRI) recommendations of topics and data for
inclusion.
After reviewing these sources, a list of issues was compiled and prioritised according
to the following criteria:
•
•
•
the importance of the issue to – and potential impact on – Starbucks
the importance of the issue to – and potential impact on – external stakeholders
the amount of reasonable control Starbucks has over a particular issue.
Based on this assessment and evaluation, the company determined those issues of
greatest importance to Starbucks and its stakeholders, and those issues over which
the company has a reasonable level of control. The resulting priorities form the basis
for the company’s CSR policies and activities:
i. coffee purchasing practices: prices paid to coffee farmers/suppliers, respect for
workers’ human rights, long-term availability of high-quality coffee
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Assessing the Marketing Environment Case Study March 2009 – New Syllabus
ii.
iii.
iv.
v.
growth and expansion: impacts on local communities
environmental impacts: climate change, energy consumption, paper cups
health and wellness: products, nutrition information
workplace practices: culture and benefits, and satisfaction and engagement.
People
Partners (employees) are at the heart of the ‘Starbucks Experience’. Starbucks
remains steadfastly committed to creating a great work environment, and to offering
health benefits for eligible full- and part-time partners, despite a recent significant rise
in health care costs.
The company constantly assesses and updates its total pay package to make sure it
remains competitive. It tries to create a workforce in each store that reflects the
overall diversity of its community, a philosophy that continues to pay dividends.
In a recent global partner survey, Starbucks’ partners had an exceptionally high rate
of participation (84%) and high marks for overall satisfaction (86%). The company’s
inclusion in the Diversity Inc ‘Top 50 Companies for Diversity’ acknowledges its
commitment to creating a diverse, inclusive global workforce.
Volunteer Programme
Six years ago, Starbucks introduced its ‘Make Your Mark’ volunteer programme to
support partners’ (employees’) desire to connect with and contribute to the
communities they service. Through Make Your Mark the company matches partners’
voluntary activities with a donation of $10 to their designated non-profit organisation
for every hour of volunteer work completed, up to a maximum of $1,000 per project.
In 2006, Starbucks’ partners and customers in the US and Canada volunteered
383,000 hours in support of thousands of local community organisations – equivalent
to 183 people working full-time for the whole year.
Ethical Purchasing – CAFE Practices
The Conservation Principles for Coffee Production, a set of multi-stakeholder criteria
launched in 2001, became the original platform that Starbucks used to evolve and
eventually develop a more holistic set of coffee-buying guidelines that is now known
as Coffee and Farmer Equity (CAFE) Practices. These guidelines were designed to
ensure the sustainable supply of high-quality coffee, achieve economic
accountability, promote social responsibility within the coffee supply chain, and
protect the environment.
CAFE Practices cover various sustainability measures that are defined by 28 criteria,
extending to both the farming and the processing of coffee. The criteria fall into four
focus areas: product quality; economic accountability; social responsibility; and
environmental leadership.
Thousands of participants – from Starbucks’ largest coffee suppliers to many smallholder farms and co-operatives – have applied and been approved as CAFE
Practices suppliers since 2004. When suppliers apply to CAFE Practices, they must
undergo a third-party evaluation to verify the degree to which their practices are
aligned with the criteria. As a result of this, they receive a score that is used to
determine their particular level as a CAFE Practices supplier.
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When Starbucks first introduced CAFE Practices, it was inspired and motivated to
help create a better future for coffee farmers and their communities, based on a
shared interest in sustaining the production of high-quality coffee. The amount of
time, energy and resources needed to implement and manage CAFE Practices
across such a complex, diverse and sprawling supply chain are considerable. One
challenge has been to make CAFE Practices as accessible to small-scale producers
as it is to larger coffee producers.
Carbon Footprint
In 2004, Starbucks compiled an inventory of its 2003 Greenhouse Gas (GHG)
emissions as part of a broader effort to better understand and quantify its
environmental footprint. The company used the World Resources Institute
Greenhouse Gas Protocol to produce the inventory of major emissions from its
company-operated retail stores, coffee roasting operations, administrative operations
and distribution network.
The inventory shows that 81% of Starbucks’ GHG emissions are attributable to
electricity purchased for use in stores, while 18% comes from coffee roasting. This
inventory has been used to guide development of the company’s strategy to help
reduce climate change. This strategy focuses on emission sources under direct
control, primarily electricity used in stores and coffee roasting.
Paper cups account for nearly 9% of typical in-store waste by volume, although most
cups are disposed of outside the store after use. Efforts to reduce the environmental
impact of the company’s disposable cups began in the mid-1990s. Over the last
decade, several actions have been taken, including:
•
•
•
eliminating most double-cupping by utilising corrugated hot beverage sleeves
made of 60% post-consumer recycled fibre
offering customers a $0.10 discount when they use their own reusable cups.
Customers in the US and Canada took advantage of this offer more than 17
million times in 2006, keeping 674,000 pounds (306,000 kilograms) of paper from
going to landfill
introducing hot beverage paper cups made with 10% post-consumer recycled
content. These cups, which are the first direct contact food packaging containing
post-consumer recycled content to receive a favourable safety review by the US
Food and Drug Administration (FDA), were introduced in US and Canadian
stores in 2006.
Howard Schultz, Chairman, and Jim Donald, President and Chief Executive Officer
stated that:
‘As we reflect on Starbucks’ 35th anniversary, we are extremely grateful for the way
we have been embraced by customers worldwide. We understand that with success
comes increased scrutiny, be it from the media, activists or from concerned
customers who want to know that the company is fair and principled. We’ve always
believed that leadership companies must set a higher standard for how business is
done. And we want to assure you that we remain committed to our core values and
our vision to do business in a different way – a way that creates long-term value for
our shareholders while honouring the contributions of the farmers and our people
who make our success possible.’
Source: Starbucks’ website
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Assessing the Marketing Environment Case Study March 2009 – New Syllabus
Appendix One
Worldwide Financial Performance of Starbucks Corporation ($bn, $m and number), 53 Weeks
rd
nd
st
Ending 3 October 2004 and Years Ending 2 October 2005 and 1 October 2006
2004
2005
2006
Revenue and
Operating Income
Net revenue ($bn)*
5.29
6.37
7.79
Operating income ($m)
606.5
780.5
894.0
Store Numbers**
US
International
6,177
2,392
7,353
2,888
8,896
3,544
Total Store Numbers
8,569
10,241
12,440
*around 80% of revenues are accrued in the US
**company-operated stores and licensed stores
Source: Starbucks Corporation Annual Report 2006/Keynote 2007
th
Financial Results for Starbucks Coffee Company (UK) Ltd (£000), 53 Weeks Ending 30
nd
st
September 2004 and Years Ending 2 October 2005 and 1 October 2006
2004
2005
2006
Turnover (£000)
204,055
244,216
286,645
Pre-tax profit (£000)
-12,188
-8,106
-5,348
Source: ICC Juniper database/Keynote 2007
The Leading Operators of Branded Coffee Shops by Number of Outlets in the UK and the
Republic of Ireland (number and %), 2004 - 2007
% Share of
May
the Top 12
2004
2005
2006
2007
2007
Costa
285
Starbucks
425
Caffè Nero
162
Caffè Ritazza
95
BB’s Coffee &
90
Muffins
Puccino’s
106
Tchibo
25
Café Nescafé
44
Coffee
65
Republic
Source: Key Note 2007
336
470
214
115
430
510
262
135
555
547
310
170
26.5
26.1
14.8
8.1
115
140
160
7.6
106
38
44
106
60
47
106
73
50
5.1
3.5
2.4
55
44
42
2.0
Selected Major operators of Branded Coffee Shops by Turnover (£m), 2004 – 2006*
2004
2005
Starbucks Coffee Company (UK) Ltd
204.1
244.2
Costa Ltd
111.7
126.1
Caffè Nero Group Ltd
50.5
70.1
Tchibo Great Britain Ltd
29.3
43.8
Coffee Republic Plc
22.0
17.6
AMT Coffee Ltd
13.8
15.3
BB’s Coffee & Muffin Ltd**
10.8
9.0
Puccino’s Ltd**
5.9
7.0
Total
448.1
533.1
* turnover figures cover varying financial years
** turnovers of company-owned outlets only, and/or fees and royalties from franchisees
n/a not available
Source: ICC Juniper database/Keynote 2007
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2006
286.6
143.0
90.7
n/a
14.9
15.7
n/a
n/a
n/a
Assessing the Marketing Environment Case Study March 2009 – New Syllabus
Market Size and Forecast of Branded Coffee Shops, At Current And 2006 Prices, 2001 - 2011
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Source: Mintel
Current Prices
£m
305
375
450
530
610
675
736
801
874
948
1023
Index
At 2006 Prices
£m
355
420
489
561
627
675
716
760
806
848
890
45
56
67
79
90
100
109
119
129
140
152
Index
53
62
72
83
93
100
106
113
119
126
132
The Forecast Growth in Branded Coffee and Sandwich Shops by Number of Outlets
(number and %), 2007 - 2011
2007
2008
2009
2010
2011
Coffee shops
Top 12 brands
% change
year-on-year
All branded
2,300
2,575
2,830
3,085
3,330
-
12.0
9.9
9.0
7.9
3,100
3,400
3,625
3,850
4,100
36
37
38
39
% of total
35
coffee shops
Source: Key Note Ltd 2007
Summary of Responses (% of respondents), 2007
I have visited a branded coffee shop such as Starbucks, Costa or Caffè Nero in
the last 3 months
I have visited a branded sandwich shop such as Subway, Greggs, Bakers Oven,
O’Briens or Pret A Manger in the last 3 months
I have visited branded coffee shops more frequently in the past 12 months than
previously
I have visited branded sandwich shops more frequently in the past 12 months
than previously
I prefer to visit coffee or sandwich shops for lunch than go to pubs or restaurants
I prefer to visit restaurants or pubs for lunch, rather than a coffee or sandwich
shops
I have visited the coffee/sandwich shop at grocery multiples such as Tesco,
Sainsbury’s or ASDA in the last 3 months
I have visited the coffee/sandwich shop at department or variety stores such as
Debenhams, Bhs or Marks & Spencer in the last 3 months
I welcome the expansion of branded coffee or sandwich shops across the UK
I do not welcome this expansion as it threatens the existing smaller independents
I have bought takeaway sandwiches, rolls, wraps, etc. from grocery retailers such
as Tesco, Sainsbury’s, Marks & Spencer, Boots, Co-ops in the last 3 months
I prefer the coffee or sandwiches sold in branded chains or coffee sandwich
shops to those sold by other retailers
I regard coffee, sandwiches, etc. sold by branded coffee and sandwich shops as
expensive
I have been spending more on eating or drinking outside the home in the past 12
months than previously
Weighted sample: 1,000.
Base: All adults aged 16+
Source: Key Note/NEMS Market Research July 2007
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39.4
46.4
20.9
20.8
35.8
50.9
40.7
32.5
60.9
27.2
56.3
38.2
65.6
31.1
Assessing the Marketing Environment Case Study March 2009 – New Syllabus
Appendix Two
Storm in a coffee cup: Starbucks defends itself over Oxfam campaign
Source: Ashley Seager The Guardian, Friday January 19 2007
© Guardian News & Media Ltd 2007
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Appendix Three
The man who knows why we're so hooked on coffee
Source: David Smith, The Observer, Sunday January 28 2007
© Guardian News & Media Ltd 2007
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Appendix Four
Assessing the Starbucks brand
Brand
When Starbucks entered the UK market in 1998, it was the first coffee-shop chain to
make an impact. Since then, the brand has grown impressively and is now
synonymous with the high street. Its American heritage is a big part of the brand and
there is a strong association with a down-town American life-style. Starbucks’
philosophy is that any store should be regarded as home; anyone should feel as
comfortable there as they do in their own front room. The novelty of Starbucks,
however, has worn off, and care must be taken that it doesn’t become the next
McDonald’s. Starbucks’ focus on the local community, growers and sustainability will
help.
Experience
Providing a consistent experience is what Starbucks excels at. The store atmosphere
(the décor, lighting, seating, fittings and fixtures) are identical – what differs is their
configuration, based on the customer mix in store. Stores used by lots of professional
people have more, smaller tables with wireless connection in store, compared to
stores used by lots of students who have more armchairs and big tables. The order
process can be confusing for any customer who is not experienced with Starbucks,
potentially missing out on up-selling opportunities. Sometimes queues are long and
there is a long waiting time for a drink.
Product
Among coffee drinkers there are split opinions about the quality and taste of the
coffee. However, when looking at the number of full stores, it is clear that the coffee,
as well as other products, are rated highly by consumers. Starbucks is no longer
really seen as a coffee specialist as much as other players in the market such as
Caffé Nero. However, Starbucks’ leads in terms of product innovation, with products
such as Frappuccinos, Tazo teas and their all-time favourite gingerbread latte drink.
The food offer has been improved, providing a wider range of lunchtime options.
Value Positioning
Coffee in Starbucks is certainly not cheap but its pricing is in line with other similar
coffee chains. The food offer, however, is relatively expensive for what you get and
this may prevent more customers buying it. People don’t spend in Starbucks just for
the coffee, but for the experience.
Recommendations
1. Communicate local and community aspects strongly – it is a global brand but it
doesn’t have to be a corporate giant
2. Consider updating the stores – they are starting to look a little frayed [i.e.run-down]
3. Further non-drink product development to include wider food options e.g.
salads/soups
4. Educate consumers regarding coffee quality and origin – gives more of a sense of
expertise
Source: Marketing Week, 10-Sep-06
© Marketing Week
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Assessing the Marketing Environment Case Study March 2009 – New Syllabus
Moor Hall, Cookham
Maidenhead
Berkshire, SL6 9QH, UK
Telephone: 01628 427120
Facsimile: 01628 427158
www.cim.co.uk
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