Ther

Submitted by: Submitted by

Views: 57

Words: 552

Pages: 3

Category: Other Topics

Date Submitted: 05/13/2014 02:43 AM

Report This Essay

Starbucks has doubled in the amount of stores it possesses since 2004, but it has consistently stayed at only a 30% international market . Although Starbucks needs to invest more in foreign countries, it still has to be careful to watch out for social norms and cultural differences in and throughout countries. Depending on the culture “products can touch a deeper nerve, triggering associations related to the consumer’s identity as a member of a particular community” (Bartlett, Ghoshal, & Beamish, 2008, p. 227). No matter where Starbucks goes as a corporation, it still has to consider the market of people it is selling its products to. Tea is the common beverage of Britain and other countries, while Mormon populations will not drink tea or coffee because of their religious background and heritage. Although Starbucks needs to broaden its market scope, it must take time and put in the proper amount of research when going into different communities and countries.

Another way that Starbucks could better succeed as a company is by diversifying its product base and offering more economical pricing for customers. Starbucks is known for its high quality coffees, teas, and light appetizers, but it doesn’t offer anything of more substance. Trends come and go every day just like the latest fashions in New York or hair styles in Hollywood. Starbucks has made a lot of money as a company, but that could also change if it is only a mere high class trend. In the event of another economic crash, Starbucks’ high quality coffee is not something that most people will find as a need compared to house or car payments. During the last economic crisis Starbucks’ stock took a major hit, and it is just now getting back to where it was in 2007 ("SBUX Basic Chart | Starbucks Corporation Stock - Yahoo! Finance," 2011). Starbucks needs to take into consideration the possibility of maybe another economic crash. The economy has somewhat risen back from the last crash, but many people in the...