Learning Team A Marketing Plan Jennifer Bodine, Shannon James, Tyler Thomas. Sherrell Cook and Teron Brooks Mission Statement • To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Starbucks Sensation • Sugar - free • Will provide mental and physical stimulation • Will be sold in bulk SWOTT Analysis • Strengths • Weaknesses • Opportunities • Threats • Trends Marketing Research • Consumer analysis – Demographics – Psychographics – Behaviors – Geographical considerations Segmentation • Identify your target market – the buyers and consumers • Marketing strategy – factors that affect your marketing strategy • Current competition Starbucks’ Primary Target Market: • Men and women aged 25 to 40 • Young adults aged 18 to 24 • College students Competition • Red Bull • Rockstar • Monster Differentiation and positioning • How the new energy drink will differentiate from its competitors • Product positioning • A positioning strategy Product life cycle Places to Promote • Social networking sites – Facebook – Twitter – Instagram • In-store locations – Sampling – Coupon on receipt to come back • Grocery store displays – Cardboard displays that draw attention – Coupons Promotional Strategies • Push Strategies • Pull Strategies • • In-store sampling – Offer samples of Sensation to customers • – Send product launch information & coupons to registered customers Give samples at events – Marathons – give samples to participants E-mails • Advertisements – Use social networking to entice people to come in – Let customers upload photos of them drinking & giving testimonials. Initial Sales Promotion Schedule • January 2014 - Starbucks will hold During the next two months have product to the employees and the samples to distribute to Starbucks goals of advertising the new stores and local grocery stores. • July 1, 2014 to September 30, February 2014- The advertising 2014- Product will be launched into plan and budget will be put into select stores. place with the production and advertising team, CEO and the • Starbucks Sensation will be in March 2014- The goal during this month is to begin promoting the product on different sites, such as Facebook, Twitter, and Instragram. October 1, 2014- November 30, 2014- Full production of the President of the company. • April 1, 2014 to June 1, 2014- its first meeting to introduce the product. • • effect. • December 1, 2014- An event will be held for the launch of the new product to investors, companies and employee’s of the company. Advertising Plan • Full Page Ads in popular magazine ads – Celebrities and average Joes – Website that includes a printable discount coupon with access code • Text Message – Gym – College Campus’ – Athletic Venue Public Relations Process of Building Positive Relationships with the Public • Newspaper article – Explanation of Starbucks Sensation product and features – Issue in local and national news outlets • Sponsor Extreme Sport events – Energy drinks are the main sponsors • Open and Honest with the public – Communicate effectively on any issues, complaints or government inquiries Channel Management • Organizing marketing techniques to distribute Starbucks Sensation to the most customers at the correct locations and at the correct time • Starbucks Sensation sold through direct and indirect distribution channels • Different flavors sold at different geographical locations Distribution • Starbucks will coordinate distribution through the Supply Chain Department – Monitor inventory levels and coordinate shipping schedules • Trucks will be used to ship inventory to distribution centers and selling locations – Most cost efficient method for geographical area • Just-in-time (JIT) delivery system – Cut down on storage costs – Quicker arrival of inventory Financial Plan • Outline a high-level financial plan that defines your financial model and pricing assumptions. – This plan should include expected annual sales and profits for the next three years. – Use several slides to cover this material appropriately. Elements for Monitoring, Evaluate and Control • Access codes • Use of coupons Conclusion • Starbucks products will continue to grow because the company has taken the necessary steps to launch their products successfully by creating and marketing the products correctly. References • Business Dateline (2009). Restaurants, Coffee Shops and Other Food Retailers Can now create professional loyalty clubs affordable online: New service allows small businesses to benefit from marketing practices once reserved only for the largest players. Business Dateline. Retrieved August 20 ,2013 • Vass, K. (2005, April) A Solid Marketing Plan Begins with SWOT. Textile World. Pg. 18.Retrieved August 23 ,2913 from Pro Quest database. • O'Farrell, R. (n.d.). Who is Starbucks' Target Audience? Retrieved from http://smallbusiness.chron.com/starbucks-target-audience-10553.html • Perreault, W. D., Cannon, J. P., & McCarthy, E. J., Jr. (2011). Basic marketing: A marketing strategy planning approach (18th ed.). New York, NY: McGraw-Hill. • Reid, R.D. and Bojanic, D.C. 2009. Hospitality Marketing Management. 5th ed. s. l.: John Wiley • Starbucks Pricing Strategy | Chron.com. (n.d.). Retrieved September 6, 2013, from http://smallbusiness.chron.com/starbucks-pricing-strategy-10544.html Starbucks to jolt consumers with Refreshers energy drink USA TODAY.com. (n.d.). Retrieved September 6,2013 from http://usatoday30.usatoday.com/money/industries/food/story/2012- 03-21/starbucks-energy-drink-refreshers-red-bull/53693616/1