Starbucks is the world class coffee organization in the entire world. The Starbucks company was founded in the year 1971 in Seattle, Washington. Furthermore, this has been seen that Starbucks operates in more than 28000 locations in the entire worldwide. It has been seen that Starbucks has now introduced the bubble tea product in the entire market and they want to expand their market in the different areas (Blut et al., 2015).
Market Size
Starbucks has been trying to introduce the Bubble Tea in the market of Auckland. This is one of the market size analyses; however, the main target will be the customers along with the competitors in the market as well. There are different other companies which has introduced different juices and drinks such as bubble tea stores in the market.
Trends and Customer Needs
Bubble Tea is the new trend in the market which will help the company in managing the customer preferences in an effective manner. There are different styles and preferences of the customers who prefer different kinds of flavours which will help the company in managing the different tastes and preferences. The customer needs are required to be analyzed in an effective manner which will help in managing the different issues in an effective manner.
Competitive Analysis
There is strong competition for the Bubble tea which has been introduced by Starbucks in the competitive market. Furthermore, this has been seen and analysed that there are different famous food chains in the entire world and the number of customers is limited as well and therefore, this could be a huge challenge for Starbucks as there are different Asian companies and the products and culture of the companies are unique in nature. Starbucks need to different innovations in the Bubble tea there are different customers in the market other than the Asian customers (Zhang et al., 2017).
Brand Competitors
There are different other brands of Starbucks in the entire competitive market that includes Chattime along with Gong Cha as well. Furthermore, this can be seen that there are different other brands which are famous in the entire worldwide (Noyan& ?im?ek, 2014).
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
It has been seen and analysed that Starbucks is one of the most famous companies or the coffee retailers in the entire world. When the customers think of Starbucks, they feel that the company is of proper and accurate brand image (Choi et al., 2017). However, on the other hand, this has been seen and analysed that when Starbucks is introducing the new Bubble tea, the perceptions of the customers is that the company is not mainly focusing on the different kinds of coffees and this can be a difficult position for the company in managing the change effectively.
Furthermore, the diversity is essential in nature which is required to be analysed by Starbucks which will help in managing the diversity related issues (Dhar, 2015). Furthermore, the main culture of the Starbucks is to create a place wherein the individuals can feel like relaxing in the coffee shop and this can be a huge difficulty for the company in managing such change in an appropriate manner as well (Zhuang& Babin, 2015).
Proper PESTEL analysis is required to be adopted by the company in an effective manner which will help them in managing the different issues related to the external environment. The different external factors are required to be analysed effectively which will help Starbucks in managing the differences.
Political Factors- It has been analysed that there are no such political factors that will affect the business of Starbucks as there are different raw materials which are basically from Asia (Mardanib et al., 2015).
Economic Factors- The economy of the New Zealand is positive in nature and this can help Starbucks in maintaining their competitive position in the market. The GDP was more than $88100 million till the year 2017 and this has been seen that there is GDP growth of more than 4% in the end of the year 2018. The economy has strong growth which helps in creating more processes which are quick in nature to manage the differences (Ortega et al., 2015).
Social Factors- There are different social factors which is related to Starbucks introducing Bubble Tea wherein it has been seen that Bubble tea is one of the most popular Asian drinks and this can help Starbucks in introducing the same with implementation of different strategies which will help them in maintaining their brand image (Orel& Kara, 2014).
Technological Factors- There are different technological factors such as advancement in the technology which is used by Starbucks in managing the flavour of the drink in an effective manner. Furthermore, Starbucks can come up with different other innovative strategies which will attract more customers and increase the brand image of the company effectively.
Legal Factors- There are no such legal factors which are impacting the Starbucks brand image, however there can be different copyrights which can affect the brand image of the company in a negative manner (Lien,Cao& Zhou, 2017).
Environmental Factors- There are different environmental factors which is required to be analysed by Starbucks in which it has been seen and managed that the Starbucks need to handle the different environmental based rules and regulations (Kasiri et al, 2017).
There are different external factors which are required to be analysed in an effective manner by Starbucks as this will help them in managing the competition in an effective manner. Furthermore, there are different kinds of objectives which are required to be followed by Starbucks in attaining the vision appropriately.
The main mission of the company is to inspire along with nurturing the spirit of the human spirit. Furthermore, the main mission of the company is to provide committed kind of service to the customers in the entire market and spread their presence in the entire global world (Blut et al., 2015).
On the other hand, the vision of the company is to create a premier purveyance and with the different uncompromising policies of the company as well. The growth of the company is the other factor which helps in leading to the being the best companies in the entire world.
Proper segmentation is essential to be done for Starbucks as this helps in managing the different activities in an effective manner. The demographic variable is basically on the situation of the individuals which includes different age, financial status, income along with religion. The bubble tea of Starbucks is suit for the different teenagers along with the employees and youths as well (Blut et al., 2015).
On the other hand, the geographic variable includes the division of the nations, locations and places. The city of Auckland has helped in analysing that there is more than 30% of the population wherein Starbucks needs to include the changes which is required to be adopted by them.
Behaviouristic variable is the other one which includes the behaviour of the different customers in the market along with implementing the brand loyalty program in an effective manner which is essential for the business (Cameron et al., 2016).
There are different target markets which are required to be analysed in an effective manner that helps them in managing the differences in the target market appropriately.
Primary Market
The primary target market of Starbucks in New Zealand includes the different students of different age groups. The students are basically targeted as the primary market as they are the ones who prefer refreshing kinds of drinks which help them in maintaining proper competitive advantage in the entire market. Furthermore, the students of colleges, schools and universities prefer the drinks as they can hand out with the friends and they will enjoy such drinks with their friends in an effective manner (Cameron et al., 2016).
Secondary Market
The young people are the secondary market groups wherein they are the ones who are willing in order to try new things in the market along with different new trends which will help the company in gaining competitive advantage. It has been seen and analysed that the young individuals in the market and Starbucks will be targeting them as a whole as well (Al-Dmour et al., 2016).
Universal Marketing
There are different office employees which can be adopted by Starbucks in maintaining their position in the entire market. In New Zealand, there are different offices as well which will help Starbucks in managing the differences in an effective manner. Bubble tea can be a proper refresher which will drink and help them in chatting up with the friends as well.
Market Positioning
Starbucks try to position themselves by making the prices reasonable in nature as this will help them in attracting more customers in the market. The positioning of the respective restaurant or the café will be done in such a manner that will help them in gaining competitive advantage. Starbucks is the world-famous brand which will help the company in managing the different support from different kinds of products as well (Cameron et al., 2016).
There are different other bubble tea products in the entire market and regarding this, Starbucks need to position the respective product in such a manner which will help the company in managing the differences in an effective manner. Furthermore, this will help the customers by providing them a top class feeling and this will create competitive advantage for the company as well 9Huhman, Kelly & Edgar 2017).
There are different marketing objectives which are required to be analysed by the company in an effective manner. The SMART objective is required to be analysed in an effective manner which will help Starbucks in analysing their strengths along with the objectives which is required to be achieved by them in an effective manner as well.
In order to analyse the marketing strategies adopted by Starbucks, this is essential in nature for the company in analysing the entire marketing mix of the company along with analysing the decisions which is gained from the same as well. The marketing mix of Starbucks includes the following:
Product: Starbucks need to analyse the local market needs and develop the product which will help them in increasing the market share. In case of Starbucks, the company will investigate the different products of the other companies who are the major competitors and this will help them in analysing the strategies to stand out against the other competitors in the market. Furthermore, bubble tea is something special which is required to be adopted by Starbucks in providing better products to customers.
Price: The pricing is the other factor wherein it has been seen and noticed that the Starbucks need to find out the different competitors and this affected the entire position in an ineffective manner. In the entire New Zealand market, this will help Starbucks in introducing Bubble tea in an effective manner.
Place and Distribution: The distribution technique is essential wherein all the different products are required to be adopted as to implement such strategies which will help them in making the process effective. The central location is required to be adopted by the company as this will help the customers in purchasing the products from anywhere in the economy.
Services provided to customers: Proper customer retention is the other mantra which is required to be followed by Starbucks. The philosophy of Starbucks helps them in increasing the profit and sales of the company effectively.
Promotion: The promotional activities help Starbucks in increasing the entire sales of the product in an appropriate manner. The promotional activities will focus mainly on the different channels such as Instagram, Facebook and Twitter along with TV and magazine. The social media effectiveness is essential in nature which is required to be followed by Starbucks as this creates strong influence on the company. The main and primary objective of Starbucks is to position themselves in such a manner which will assist them in attracting different age group customers along with assortment of different strategies effectively (Tobey et al., 2016).
Integration and Link
Proper integration and link is essential in nature which is required to be done by the company in managing the marketing mix of the company effectively. Furthermore, there are different SMART objectives which are required to be analyzed and adjusted accordingly and this will create proper integration and link between the various objectives.
The business research is required to be analysed in an effective manner which will make the objective more accurate and clear in nature. The control and benchmarks which are required to be analysed by Starbucks include the following:
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Activities |
Mar-18 |
Apr-18 |
May-18 |
Jun-18 |
Jul-18 |
Aug-18 |
Sep-18 |
Oct-18 |
Nov-18 |
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Proper development of the menu in Starbucks for introducing Bubble tea |
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Proper survey among the public |
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Proper measures to improve the product |
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Launching of the specific product in the shop |
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Proper research of the value of the market and the price of the different competitors |
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Social Media Advertisements |
Conclusion
Therefore, this can be concluded that marketing plan for Starbucks has been conducted by introducing Bubble tea in the entire market. Furthermore, the marketing mix of the company has been analysed which has helped them in maintaining their profit in the company effectively. The segmentation, positioning and targeting has been done which helped the company in maintaining their position in the entire competitive market as well.
References
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