Starbucks Essay

Starbucks is one of the most successful companies operating in the US. However, today, the company faces certain problems in the course of the development of the company under the impact of the economic recession. The company is focused on the improvement of the company-customer relationships, although the company faces certain problems in the development of internal business processes and human resources.
Vision and mission statement
In actuality, Starbucks is one of the most successful companies operating in the US. Today, the company focuses on the development of positive company-customer relationships. The company views the company-customer relationships being strategically important for the company’s business development. At this point, the vision of the company is grounded on the formation of a positive public image of the company and the customer satisfaction is one of the primary concerns of the company. The mission of the company is to develop effective approaches to the business development, which contribute to the customer satisfaction and attracts customers to the company. In such a way, the company views its customers as the major priority for its business development because customer loyalty and customer satisfaction are major conditions of the successful business development.
Company history
In actuality, the company holds one of the leading positions in the market. Historically, Starbucks focused on the introduction of innovative approaches to business and became one of the first companies in the industry. In such a way, the company has managed to take the leading position in the market and has started to expand its market fast. The company became the leader in the US and attempted to develop its business internationally. Therefore, the company has managed to become the leader and maintained its leading position throughout its history. However, the recent economic recession has a negative impact on the business development of the company because Starbucks has deteriorated its financial performance since the beginning of the economic recession. The customers’ buying power has dropped and customers have started to focus on savings instead of spending. As a result, Starbucks has faced considerable problems. In response to the current challenges, the company has introduced new strategy, which could improve its marketing performance. In this regard, Starbucks attempted to develop the customer-centered approach and to increase the customer satisfaction.
Business and industry profile
In actuality, the coffee industry is facing the problem of the growing competition from the part of fast food restaurants. In such a situation, Starbucks, being one of the leaders in the industry, attempts to improve its position to maintain the competition. At this point, it is worth mentioning the fact that the company has a long history and extensive experience. Therefore, the company can use its experience and customer loyalty to maintain its position in the market. In fact, many customers have the habit to attend Starbucks. Therefore, the company can count on its loyal customers. On the other hand, the company can develop its business successfully using the full potential of its customer loyalty.
Business strategy
The business strategy used by the company focuses on the improvement of the company-customer relationships. In this regard, the company uses the customer-centered approach as its key business strategy. The customer-centered approach allows the company to maintain its current position of the company in the market. In actuality, the business strategy of Starbucks focuses on the improvement of its competitive position in the market. In fact, the company attempts to expand its market share and attract more customers through the development of new business strategy.
Company products and services
The company keeps using the same products and services. In such a way, the company offers customers products and services of the high quality. As a result, the company keeps developing its business and offers customers traditional products and services. Customers appreciate products offered by Starbucks and enjoy consuming them. The maintenance of traditional products allows the company to maintain interest of customers and turn them from fast food restaurants.
Marketing strategy
The marketing strategy of Starbucks focuses on the expansion of its market share and attraction of new customers. At the same time, through the development of the high quality of its products and services the company can develop the customer loyalty. In such a way, the company uses traditional marketing strategy along with the improvement of the quality of its products and services to increase the customer satisfaction and loyalty.
Location and layout
In actuality, Starbucks operates in the US mainly but the company attempts to expand its market internationally. In this regard, Starbucks opens new coffee restaurants in the US and attempts to enter new markets. However, today, the main market of the company is still the US and, in the nearest future, this market will be number one for Starbucks. On the other hand, the strengthening of the position of Starbucks in new markets will allow the company to secure its position in the market.
Competitor analysis
Today, Starbucks holds the leading position in the market, although the competition grows stronger not only in the coffee industry but also Starbucks faces the growing competition from the part of fast food restaurants because fast food restaurants become more and more popular, whereas Starbucks has to maintain its competitive position in the market. In such a way, the company uses the strategy of the customer satisfaction and customer-centered approach to increase their satisfaction and to improve its competitive position in the market.
Plan of operation
In actuality, the company has to develop its business plan of operations. In this regard, it is worth mentioning the fact that the company focuses on the development of the total quality management. After that the company can improve the quality of internal business operations and the quality of products and services being delivered to customers. Furthermore, the company should monitor the customer satisfaction to assess whether the company’s business strategy is successful or not. On monitoring the development of the marketing performance of the company, Starbucks should introduce changes, if necessary.
Financial position
The current financial position of the company is stable (See App. Table 1). In actuality, the company recovers from the effects of the recent economic recession and attempts to change its marketing position for better. In this regard, the company develops its marketing strategy on the ground of the customer satisfaction and to improve its position in the market. At the same time, the financial performance of the company is stable and the company uses its full potential in order to improve its business strategy.
Loan or investment capital
The company uses its financial resources to develop its business. However, today, the company attracts bank loans and other investment to improve its marketing performance. In actuality, the company is still reliable and successful in its financial performance and business development.