Competitive Strategy Of Starbucks
Starbucks as a whole pursues the broad differentiation strategy, a kind of strategy that differentiates the company’s product offerings from rivals’ with attributes that appeal to a wide array of buyers. Starbucks provide a high quality coffee and unique experience in the convenience of a large volume of locations, which separates them from their competition. A customer no longer need to be a coffee lover to walk into Starbucks because it offers a wide variety of products that extend beyond coffee. This gives Starbucks a competitive advantage as they provide customers high quality material offerings. Also they reach into various market segments and other customer pools while still staying in their current industry which is the Foodservice Industry.
Cost leadership has never been part of Starbucks overall business strategy. Product differentiation has always been the core of the company to gain a competitive advantage. They have achieved this by branding their image as the leader in quality by providing the finest coffee bean coupled with state of the art brewing process to offer the finest coffee experience. In addition to offering the quality coffee products as an effort to differentiate their product, they have also tried to bring more value to their customers by creating the coffee house style atmospheres for their customers to relax and enjoy their products.
Competing companies within the industry use a variety of different strategies. Based on the strategic approaches,
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