The report argues and discusses about the organisation and identifying the market opportunity of the same. On recognising the problems faced by organisation figure out the measures to resolve those problems. Afterwards concentrate over the positive portion to convert the problem into opportunity. For doing this, thorough research is to be made and research proposal is created. By the way of secondary and primary sources the data is been collected and analysis should be made to cultivate the response regarding the opportunity/ problem.
For this concern the organisation chosen is “Starbucks”. Starbucks was initiated in the year 1971. The coffee shop is one storied with great ambience and variety of flavours available. Initially Starbucks used to sell coffee beans only and not the coffee drink. Gradually it started to grow and developed today as a renowned name in terms of coffee and snacks. The marketing opportunity identified in context of Starbucks are: first of all the Starbucks app need to be improvised to attract and satisfy more customer, secondly, entertainment purpose is to be focused on so that people spend more time there which would be fruitful for the organisation and focus on building relations as well. Lastly the eatable cups must be introduced to concentrate over the environment protection. On finding out the opportunities the research is made using questionnaire and data analysis in order to reach a fruitful and worthy conclusion and findings.
Starbucks is the big name and known by each and every person. It has gained a lot of popularity among youngsters to adult and even children demand for the quality. Quality is equal to Starbucks as where there is quality and variety there resides Starbucks (Starbucks, 2016). But all things consist of flaws at some or the other point. Many a times in order to grow higher the entities do not focus on the small and niche points which grow larger with the span of time (Team, 2016).
No doubt Starbucks is fast growing entity but still there are certain problems attached which if focused would be converted into opportunity. These market opportunities are: –
For conducting this research, methodologies used are both primary and secondary. In secondary research work information from journals, magazines, articles are collected. Books regarding marketing are reviewed and analysis of competitors performance to be focused. Learn from competitors strategies and implement it by modifying those practices. In primary research technique questionnaires are to be filled up by the customers availing the service at Starbucks, online reviews to be collected. Advice from experts can also be extracted to know the reviews and demands of public. The suitable changes shall be inculcated by measuring all the possible points and balancing the cost of such applications (O’Leary, 2017).
Starbucks is a well-known and popularised organisation chosen by all. For conducting survey on the basis of above described attributes a particular section of the society is focused on. As it is known that youngsters are fonder of hanging out with people but places like Starbucks are famous for its class as well. Thus the portion selected for piloting the research is adolescent and adults i.e. the age group between late teen to early 40s (Research-methodology, 2016).
The late teens involve age group involves youngsters and teenagers who usually visit the places and cultivates various necessities on which attention could be paid and another group is considered as more authentic and knowledgeable including the business tycoons and service oriented people which come up with the great slot of ideas and suggestions which would be more beneficial and cost effective for both organisation and consumers.
For collecting the data colleges, business units, conference and seminar halls can be selected. Also the feedback forms are made to be filled by the customers when they visit Starbucks (Kadam & Bhalerao, 2010).
When the data is been collected using the primary and secondary techniques there arrives the time to analyse those collected responses in order to gain a meaningful conclusion. There are divergent methods to analyse the data, it differs from technique to technique. When questionnaire is opted for collecting the data than online analysis using specific software will be done to extract the exact response of public (Hatush & Skitmore, 2010). With assistance of the Google forms and a like software data is need to be entered and online questionnaire is constructed. The link of such questionnaire is shared with the selected sample of the research and they are asked to fill the questionnaire truly and correctly. On submission of response there prevails in-built software which automatically analyses the data using relevant and adequate charts. Along with the charts the table also gets constructed side by side in excel sheet. Using such data analysis conclusion could be drawn as to which up gradation and solution can be selected to turn it into opportunity (Peters, n.d.). Another crucial and authentic method of data analysis is using PERT (Program Evaluation and Review Technique). It is a project management technique basically used for evaluating and analysing the project and plan constructed (Inc., 2017). It is followed by CPM (Critical Path Method) which states the most reliable and easily approachable path to derive the authentic result. By the use of PERT and CPM the duration taken by the research and project for completion is analysed so that decision are research methods and data collection technique are selected accordingly. It also helps in identifying the total cost incurred on selection of certain path and following the same (Rouse, 2017).
Conclusion and marketing implications
While conducting the market research it could be earned that first and foremost the problem is need to be identified and piloting is undertaken. Piloting involves the authenticity involved with problem whether it is actually the one to be studied on or not. Another step after piloting the problem is to study and research over it thoroughly. Primary and secondary data are collected using various means. Under primary research sample size and group is been selected. For this particular research on finding market opportunity for Starbucks the young section of society is selected and area is been chosen where the output of research would be applied to analyse the result using software tools and pert-cpm. Example: – applying the changes in Maldives which is a tourist spot and many people from around the world come over there to enjoy.
The entire proposal is created and possible solutions and opportunities are identified. While processing any project one or the other thing remains untouched which if touched would have resulted in some might be useful outcome (USC libraries, 2017). The options selected for market opportunity would be costly and not set under the budget of the organisation and if organisation shall adopt it than people may like the concept but not ready to pay for it, for instance the eatable disposals may cost high to Starbucks and this cost will be covered by the consumers only. Also various data collection methods may have used to get better result, example: instead of online questionnaire if face to face questionnaire was made to fill it would increase the chances of getting even better ideas as interaction widens the scope and helps in maintaining relations as well.
For gaining possible follow-ups from the consumers the concept of market shall be distributed as sample to the customer before its official release (Dillon, 2013). For instance: before the launch of the eatable cups and tissues if they are served to a set group of customers as a sample to collect the feedback and analyse it so that further decision would be taken.
References
Builder. M. (2016 ).17 Starbucks customer ideas that need to be implemented now. viewed on 13th July 2017.<https://www.extracrispy.com/drinks/746/17-starbucks-customer-ideas-that-need-to-be-implemented-now>.
Dillon. L.B. (2013). Follow-up of projects. Viewed on 14th July 2017. <https://www.sswm.info/content/follow-projects>.
Hatush. Z. & Skitmore. M. (2010). ‘Assessment and evaluation of contractor data against client goals using pert approach’. Construction Management and Economics. vol. 15. no.4. 327-340.
Inc. (2017). Program evaluation and review technique (PERT). Viewed on 14th July 2017. <https://www.inc.com/encyclopedia/program-evaluation-and-review-technique-pert.html>.
Kadam. P. & Bhalerao. S. (2010). ‘Sample size calculation’. International Journal of Ayurveda Research. vol.1. no. 1. 55-57.
Leeds. J. (2008). Starbucks revamps entertainment unit. viewed on 14th July 2017. <https://www.nytimes.com/2008/04/25/business/25sbux.html>.
O’ Leary. Z. (2017). The essential guide to doing your research project. SAGE publications asia-paific pte.ltd. Singapore.
Peters. C. (n.d.). How to design and analyse a survey. viewed on 13th July 2017. <https://zapier.com/learn/forms-surveys/design-analyze-survey/>.
Research-methodology. (2016). Questionnaire. viewed on 14th July 2017. https://research-methodology.net/research-methods/survey-method/questionnaires-2/.
Roos. D. (2010). 10 things you don’t know about Starbucks (but should!). viewed on 13th July 2017.<https://mentalfloss.com/article/24322/10-things-you-dont-know-about-starbucks-should>.
Rouse. M. (2017). PERT chart (program evaluation and review technique). viewed on 14th July 2017.< https://searchsoftwarequality.techtarget.com/definition/PERT-chart>.
Sousa. C.D. (2017). Starbucks: innovate or die. Viewed on 14th July 2017. <https://seekingalpha.com/article/4034433-starbucks-innovate-die>.
Starbucks. (2016). About us. viewed on 13th July 2017. <https://www.starbucks.in/about-us>.
Team. T. (2016). How Starbucks plans to grow its international operations. viewed on 13th July 2017. < https://www.forbes.com/sites/greatspeculations/2016/01/18/how-starbucks-plans-to-grow-its-international-operations/#2a8fb0e21941>.
USC Libraries. (2017). Organizing your social sciences research paper: limitations of the study. Viewed on 14th July 2017. <https://libguides.usc.edu/writingguide/limitations>.
Watts. N. (2015). 5 Shots of innovation from Starbucks. Viewed on 14th July 2017. <https://www.ogilvy.com/topics/tech-innovation/5-shots-of-innovation-from-starbucks/>.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download