Obtain the information about marketing strategies that are currently being considered by your organization.
Marketing strategy is a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contributes to the goals of the company and its marketing objectives.
Therefore I would like to discussion current ...view middle of the document...
As early as 1992, Starbucks adopted an environmental mission statement, committing to minimizing their environmental footprint and encouraging all partners to share in their commitment.
Evaluate the options the best address the organization’s objectives and conduct a risk assessment. Estimate the returns of each option.
Successful marketing initiatives require a disciplined approach that balances objectives with the management practices and tools to develop expectations, plan expenditures, and monitor key activities.
A multi-tiered platform of business objectives, performance indicators, risk factors, and control factors should be developed in concert with the traditional marketing process of strategy development, marketing planning, execution and evaluation.
This development platform should consist of the following factors:
Scanning the environment for potential risks is part of Starbucks preparation to handle any business problem that may occur. As issues arise, we will respond to them through our newsroom feature at www.starbucks.com. Using this forum is one way we analyze risk and prepare for a potential crisis.
Other issues, known and unknown to us may emerge without warning which could cause immediate, serious ramifications for the success of our business. We have classified potential crises and ranked them into broad categories in order that we may prepare a proper response should they occur.
Develop a marketing strategies that you think will be feasible for your organization and convene a meeting to communicate them to your team and other relevant personnel. Prepare a summary to be distributed during the meeting. As a result of discussion you should aim to determine whether or not these strategies align with the organization’s strategic direction.
Marketing strategy need to build on a broader business objective and should address following points:
* target market segments for products/services
* key features and benefits of products/services
* how the business will gain competitive advantage
* specify actions and goals to be achieved for the business over time
In this case (Starbucks) a market strategy should need to address following points which are mentioned below:
Product: Starbucks product-mix expanded from 30 varieties of whole bean coffees to eco-friendly cappuccino, coffee makers, and other Starbuck paraphernalia.
Price: Starbucks products are priced higher due to perceived upscale image attached to its brand. The company also began to offer $1 bottomless 8 oz. cup of coffee, with unlimited refills that cost approximately 50 cents less than any other Starbucks products.
Place: As stated earlier, Starbucks can be found in any neighborhood where there is a perceived high traffic for its stores. Starbucks outlets can also be found in-store of various large chains including Barnes & Noble and Target.
Promotion: One of the promotions that Starbucks has used is the Starbucks Card....