REPORT ON:
STARBUCKS
NAME: VARNITHA
USN: NU23UAR023
SEM: 03
1. WHAT IS STARBUCKS?
INTRODUCTION:
Starbucks is the world's largest specialty coffee retailer
based out of Seattle, Washington, U.S. It was founded in
1971 and has since grown into a global coffeehouse chain
and coffee company.
Core Products:
Starbucks primarily offers high-quality coffee beverages,
including espresso-based drinks, brewed coffee, and
teas.
The company sells food items, such as pastries,
sandwiches, and snacks, as well as retail merchandise,
including mugs, tumblers, and coffee beans.
Scale and Reach:
Over 30,000 locations across more than 80 countries.
Available in every market in the United States, China, as
well as any other country.
Brand Image:
High-quality coffee experience, cozy environment, and
customer obsession.
Known for the unique green logo and the third place
concept between home and work.
Why Starbucks has succeeded?
Brand Identity:
Starbucks has built a unique brand identity
around the world and recalled by customers
Its consistent promise of high premium
experience sends loyalty to its customers
Quality and Innovation:
Super quality ingredients and use of third-party
sourced ethically coffee.
The continuous innovation in the product lines,
such as seasonal flavors and non-dairy products,
attracts a wide variety of customers.
Customer Experience:
Just as the ambiance, seating areas, and free Wi-Fi in the
stores, the company has also established an attractive
environment that makes them stay for more time inside
the establishment.
Trained baristas make it a personalized experience for
customers so that they will feel important due to this
personal touch.
Sustainability Efforts:
It is always on the path to being eco-friendly by doing
things such as eliminating unnecessary plastic waste,
advocating sustainable farming, and making endeavors to
be carbon neutral.
This makes the company's social responsibility initiatives
resonate with customers who are concerned with ethical
brands.
Digital Strategy:
Starbucks has a successful mobile app and reward
programs that give a boost to customer engagement and
lead to repeat visits.
Mobile order and pay options for the Starbucks experience
make it easier for customers
3. How is Starbucks operating and also achieving its
goals?
Business Model:
Operates with both company-owned and licensed
stores, and this provides flexibility and allows quick
entry into new markets.
This company earns the revenue through sales that are
achieved in-store as well as online besides selling
Starbucks-branded products available in grocery
stores.
Marketing:
There is social media marketing, brand partnerships as
well as limited-time offers to capture new consumers
as well as bring the existing.
Its focus is on making its offerings localized by fitting in
with the preferences of the local culture of different
markets.
Supply Chain Management: It has an advanced supply
chain which keeps the quality as well as freshness of its
coffee beans and other ingredients.
Direct contact with coffee farmers is the best way to
maintain the quality and sustainability of products at
their highest levels.
Innovation and Technology:
Investment in mobile app development and
contactless payment innovation for better
customer service and increased efficiency of stores.
Underlying the change in consumer preferences-for
more non-dairy product offerings, as well as more
plant-based food items available in more of its
stores.
Employee Management:
Trains and develops employees, referred to as
"partners," in a sense of belonging to the company.
Benefits include health care and stock options, thus
reducing the turnover rate and improving service to
its customers.
Conclusion
Keeping Its Position as a Global Leader in Coffee
Starbucks has maintained its position as a global
coffee giant through strategic branding,
customer-focused service, and innovation that
never loses steam.
The focus on quality, sustainability, and
integration with digital advancements will keep
the business at the top in the highly competitive
world of coffee.
Going forward, it will focus on expansion through
emerging markets and changing consumer
preferences for continued success.
