Reference no: EM133200777 , Length: 5 pages.
Assignment: Starbucks Situational Analysis
Conduct a situational analysis on Starbucks and determine what growth strategy the company should pursue next year. Include the following:
I. Situational analysis
1. Concise brand/company overview - This is just to provide some information about the company like the Mission, Vision, and values which guide its direction. There is no need to provide any history of the company.
2. Customer analysis (primary value(s) sought, level (low, moderate, high) of brand loyalty in the industry, behavioral factors (e.g. price sensitivity, channels used, etc.), Two customer journey maps: one, loyal/informed customers; two, non-loyal/uninformed customers.
3. Context - External analysis: Description of how external factors (Political/Legal, Economic, Socio-cultural, Technology, and Natural Environment) might potentially impact the company's ability to successfully accomplish its mission, vision, values and strategic marketing plan.
4. Competitive analysis: Identify the top three brand competitors and at least one potential (i.e. future, indirect, replacement) competitor. What are the strengths that distinguish each competitor and what are potential weaknesses that can be exploited? What is the market position of each competitor (create a perceptual map to illustrate this)? Identify if the competitor position (leader, challenger, follower or niche).
5. Collaborator analysis: Description of relationship with value chain members. Research to identify the collaborative strength or potential problems with suppliers and channel members.
6. Market analysis (size of market, growth of market, maturity of market, prominent market segments, segments currently targeted by the company) - Description of the market including size of market, growth of market, maturity of market, prominent market segments, distinguishing value(s) sought by the identified segments, and segments currently targeted by the company.
II. SWOT Analysis - Description of internal drivers (strengths), including core competencies and competitive advantages, that can be leveraged to successfully accomplish mission, vision, values and the strategic marketing plan.
Description of internal drivers (weaknesses), both currently owned or absent, that hinder the company from successfully accomplishing its mission, vision, values and the strategic marketing plan.
Description of the environmental factors which provide opportunities for the company to successfully accomplish mission, vision, values and the strategic marketing plan (e.g. consumer trends, competitive weaknesses, supplier profile, technological innovations, etc.) or should be considered as threats hindering the company's success. of company.
III. Marketing Objective - Indicate what market growth strategy the company already utilizes and what the company should pursue. Make sure to support your decision based on your situational analysis. Discuss why the company should use the strategic approach you identified, even if it is the same as the current approach.
1. Describe and assess the current market growth strategy used by the brand.
2. What should the market growth strategy be going forward?
3. Support your decision based on the situational analysis.