Starbucks Management Strategy Essay Example | Topics and Well Written Essays - 1500 words

Starbucks Man festerment Strategy - Essay ExampleHowever, the global financial crisis slowed raven the economy many similar competitors entered the market and downplayed Starbucks by offering low priced, high quality coffee. Since Starbuckss establishment this was the first time that its evolveth slowed down and in 2007, its stock value dropped down by almost 50 %. In 2008, its net revenue growth saw a decline of 11% comp atomic number 18d to the previous years. Customer/ position audience of Starbucks Starbucks targets a diverse audience. The fragments of target audience are variant based on products that Starbucks provides. However, Starbucks overall target audience weed be defined as men and women whose age is between 18 to 60 years and who consume coffee or extol special beverages that are offered by Starbucks. Starbucks appeals to these target age groups through contemporary and clean designs that are presented in a consistent way in its product and package designs, interi or of the store and advertising. For young adults whose age is between18 and 24, Starbucks positions itself as a place where college students can study, write, read and hang out with others. This target market tends to grow by 4.6% every(prenominal) year. The targeted age group for Starbucks is 24- 60 years which includes people living in urban areas who have professional careers with relatively higher incomes and are socially responsive individuals who care about sustainability and environment. This target audience grows at a rate of 3 percent annually. Both these age groups consider node service and experience at the retail store with the brand as important. The companys offerings are targeted relatively to higher income individuals who are people who go to Tim Hortons or McDonalds. The journey (The process and how... This shew stresses that Starbucks reward program operates by giving a customer a Starbucks gift card so that he can register it online and reload the money to con tinue using it after he finishes the essence of money that comes preloaded in the gift card. afterwards he registers card, he gets a star on every transaction and after gaining 5 stars he gets to the green level. Reaching the green level gives certain advantages to the customer. When a customer collects 30 stars, a Starbucks gold card is make which has engraved on it the cardholders name. After obtaining the gold card, with every 15 stars the customers gets a free beverage coupon. This report makes a conclusion that this is a good idea to reward customers. Also, providing a personalized slick design of the Starbucks gold card made its customers feel more attached to the company. Starbucks also created iPhone apps called My Starbucks, which allows customers to register their card number on the phone and which can be used to make payments when customers forget to bring their card to the store. Social responsibility is being apply both outside and inside the companys stores. Starbuc ks started to use reusable cups and cup holders with environmental lucky materials as much as possible. Also, they pushed themselves hard to mark their role in supporting fair softwood coffee and markets. The companys clean packaging of coffee beans also gives a good gist to the customers.