Strategic Analysis Of Starbucks Corporation Essay example
Back to 1971, Starbucks’s story began in the Pike Place Market in Seattle (U.S.), as a roaster and retailer of whole bean and ground coffee, tea and spices in a single store. Time to 2015, after 44 years running of their businesses, they totally have 12,235 company-operated stores and 10,808 licensed stores in over 68 countries, which welcome millions of customers through their doors in each day (Starbucks Fiscal 2015 Annual Report). Therefore, it is clear that Starbucks involves a large number of customers from hugely different cultural backgrounds and tastes. Also, apart from huge cultural and habitual differences, operating in 68 different countries means that Starbucks needs to face much more external environmental uncertainties compared to those coffee shops, which are only operating in a single country or few countries and it is simply because each country has their own legal system and different policies on exporting and importing.
Hence, in this essay, we will initially look at Starbucks’s mission statement since “ for most companies a useful starting point in marketing strategy formulation is to define its mission or purpose (Hooley et al., 2012,30).” Thus, the mission statement will help us to understand their strategy components. Secondly, we will examine Starbucks’s marketing strategy by looking at the external environment analysis through Porters Five Forces analysis; then looking at the company…