Marketing Strategy for Starbucks to Attain Growth

Starbucks Marketing Strategy

Proper implementation and execution of a strategic marketing plan is essential to the success of any company. A company may have an ideal product, but without proper positioning, identification of a target market, and a proper marketing plan a company would not be able to successfully market its products to consumers. Starbucks has been successfully able to convert an activity carried out at home to a commercial success through proper implementation and execution of its strategic intent. The firm has been able to convince consumers that its stores provide more than just coffee, but rather a rich experience that they should indulge in on a recurring basis. The company has been able to translate this consumer "experience" of its products into a highly profitable business.

This paper will discuss the marketing strategy being implemented by Starbucks, and will evaluate the company's current marketing plan, including positioning strategies, targeting strategies, competitive environment, and various other factors that affect its marketing strategy. The paper will further attempt to provide recommendations to Starbucks on the course of action it should purse to remain viable and maximize profitability - whether it is through improvements to its existing marketing strategy or implementation of a new strategy.

The marketing principles, or the four P's, also follow the differentiator marketing strategy. Starbucks is competing in an industry where marketing principles has to follow the differentiator strategy, or it risks losing market share. The company must create value to its customers, or the customers will find another place to spend their money. The marketing principles of Starbucks, can be argued, are the basis of the company's competitive advantage within the industry. Starbucks products are associated with quality, and the company has differentiated itself during the years as being committed to producing high quality products....