The consumer preferences is a guide for Starbucks to make changes and adjustments to their products and services. Cultural trend is a double-edged sword. It impacts the company in both positive and negative ways. For example, if the cultural trend shifts to a healthier, less caffeine consuming diet, it will affects Starbucks’ sales. If the cultural trend changes to a coffee-consuming trend, this will highly boosts Starbucks’ sales.
They have continued to change and grow their product line and they also have the most premium coffee that there is. Also they have kept a very friendly staff across the board so that helps people want to come to that atmosphere opposed to somewhere else. D. Opportunities in the industry. 1. Starbucks could extend the supplier network.
Starbucks is known for their great tasting coffee, tea, pastries, treats, sandwiches, tumblers and other miscellaneous items. Conversely, they are mostly known for their different types of coffees such as expressos and cappuccinos while providing a top of the line comfortable café experience. When companies such as Starbucks have multiple products, it sets them apart which will assist in achieving the overall financial health. Their mission is “To inspire and nurture the human spirit – one person, one cup and neighborhood at a time” (Starbucks, 2018). This purpose is what Starbucks stands by in each of their
Love their customers- Just like Starbucks; Dutch Bros Coffee is all about their customers, maybe even more. They LOVE their customers. This company does whatever they have to do in order to make their customers happy and loved. Even though it may be a quick stop for the customer and they are in a rush, it should be a magical experience (Bolsinger, 2015). This experience can make their whole day.
The firm has been able to maintain their warmth and small company culture as well as the cozy ambiance of their stores despite exponential growth. Additionally, Starbucks Coffee boasts a large and loyal customer base, this is representative of the firm’s success in part of their mission statement namely the “inspire and nurture the human spirit “aspect. On the critical side, the company’s mission statement appears rather simple and naïve more befitting a small company and unrepresentative of the current approaches which the Starbucks Coffee employs currently in their business practices. In theory, a company mission statement must provide information in regards to the approach, strategy and plans a company employs. So it can be summarized that the Starbucks Coffee Company needs to overhaul their mission statement preferably through the addition of greater details to demonstrate the method of which the firm can inspire and nurture the human
The current use of management information system has importantly enhanced the practical skills of the Starbucks and elevated the decision making capabilities of organization, in order to satisfy the customers and satisfy them with the “Starbucks experience. There are few companies in the world that generate more commitment and loyalty to their customers than Starbucks. This coffee multinational has earned the hearts of consumers, not only with a good product, and impeccable customer service: Starbucks strategy has always sought differentiation through offering
For instance, Starbucks has established unique projects such as Starbucks Card and Starbucks Reward which strengthen the company’s relationship with its consumers through customer satisfaction and loyalty. Core competencies of Starbucks and their Competitive Advantage Aesthetic appeal, Customer experience and Cult status: The “Starbucks Third Place Experience” serves as a competitive advantage for the company. This experience is characterized by quality customer service and store ambience that reflects the culture of the communities where it operates. This culture based ambience is believed to have strong contribution to cult following and customer loyalty. Global brand recognition and equity: Starbucks is the most recognized brand in the coffeehouse segment and ranks 64th of the Interbrand / Business Week list of the top 100 global brands.
Starbucks is known to be the number one brand in the coffeehouse segment. Starbucks has had and still has a strong reputation associated with quality coffee and excellent customer service. Having a strong brand name is a marketing strategy with the capability to make any product or service a household name. Strong brand names have the ability to increase customer loyalty and product sales. Starbucks is also said to deliver to their customers with perfectly blended coffee, premium music, friendly staff & a warm atmosphere, which results in incomparable customer service as compared to their competitors.
They take it upon themselves to be connected to their customers in stores as much as online. Whether it is through the discussion of social problems, or taking action into their hands when it comes to global environmental concerns, Starbucks has always actively participated in the communities they have set shop. For example, Starbucks sees Earth Day celebrations as an opportunity to please their customers by giving them a free cup of coffee if they bring a reusable travel mug. To Starbucks, this cost very little when compared to the revenue they make in a week. To their customers, it is their favorite coffee brand that could not get any better after helping save the environment.
Current Requisite of Capabilities and Core Competencies Starbucks uses its resources, capabilities, and strong relationships with its suppliers, customers and stakeholders to achieve profitability and customer loyalty. Starbucks product offering is one of its main way to cultivate a strategic supplier relationships. Organization to supplier relationships are one of the resources and capabilities that make up Starbucks internal environment. Starbucks value-based approach for building a strong internal and external relationship with suppliers drives the success of deploying the Starbucks Experience. Furthermore, "its business strategy of organic expansion into international markets, horizontal integration through smart acquisitions and alliances