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1. A clothing business finds there is a linear relationship between the number of hats, X, it can sell and the price, P, it can charge per hat. Historical data shows that 1,500 hats can
be sold at a price of $40, while 2,000 hats can be sold at a price of $30. Find a linear equation in the form P(X) = bx + a that gives the price P they can charge for X hats
a. If they gave away the hats for free, how many hats will people take away?
b. How much must they reduce the price of the hats in order to sell an additional hat?
c. How many hats can be sold at a price of $25 per hat?
d. Use MS-Excel to plot a graph of the Demand Curve for hats.
2. A car rental company offers two plans for renting a car. Plan A: $30 per day and $0.18 per mile.
Plan B: $50 per day with free unlimited mileage How many miles would you need to drive for plan B to save you money?
3. For the following exercises, use the median home values in Mississippi and Hawaii (adjusted for inflation) shown in Table 1. Assume that
the house values are changing linearly.
a
b.
Table 1 (Median Home Values)
Year Mississippi Hawaii
1950
$25,200 $74,400
2000 $71,400 $272,700
In which state have home values increased at a higher rate?
If these trends were to continue, what would be the median home value in Mississippi in 2010?
4. A phone company charges for service according to the formula: C(n) = 21 +0.08n, where n is the number of minutes talked, and C(n) is the monthly charge, in dollars.
a. What is the fixed charge, even if you do not talk on your phone?
b. How much are you charged for each minute of talk time (Rate of Change total charges)?
c. What is the total charge, if you talked for 300 minutes on the phone?
d. Use the MS-Excel graphing tool to Graph the Function C(n) = 21 +.08n for values of n from 50 to 500, in increments of 25.
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Explanation & Answer
View attached explanation and answer. Let me know if you have any questions.
Question 1
Number of hats, X
Price, P
Historical data (X, P)
Point 1 - (1500, $40)
Point 2 - (2000, $30)
Linear equation
Find the slope
𝑚=
=
Δy 𝑦2 − 𝑦1
=
Δ𝑥 𝑥2 − 𝑥2
30 − 40
2000 − 1500
=
−10
500
= −0.02
Using the slope to find the linear equation
𝑚=
Δy 𝑦2 − 𝑦1
=
Δ𝑥 𝑥2 − 𝑥2
−0.02 =
𝑦 − 40
𝑥 − 1500
−0.02(𝑥 − 1500) = 𝑦 − 40
−0.02𝑥 + 30 = 𝑦 − 40
𝑦 − 40 = −0.02𝑥 + 30
𝑦 = −0.02𝑥 + 30 + 40
𝑦 = −0.02𝑥 + 70
𝑷(𝑿) = −𝟎. 𝟎𝟐𝑿 + 𝟕𝟎
a.
Number of hats people will take away if they gave hats away for free
...
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Temple Cross Cultural Negotiation Simulation Mushroom Negotation Action Plan
Before you start, please know:1. This is a group project and you only need to do part A and B. The length of the paper doe ...
Temple Cross Cultural Negotiation Simulation Mushroom Negotation Action Plan
Before you start, please know:1. This is a group project and you only need to do part A and B. The length of the paper does not really matter, as long as you make sure to include all of the required details.2. The country that we chose is Australia.3. so basically we can say we are negotiating for mushroom being in Australia because our customers want fresh local food and we hold fresh ingredients near and dear to us, and then go more in-depth with the price and all that. In the info, it does say we don’t have a problem with frozen food and because of distances in Australia we have to have frozen food realistically but Australian people like wines, spices, and oils from different places.4. Please Read all of the instructions to understand what the assignment is about. I will attach another file called " Mushroom A Cross Cultural Negotiation Simulation" to help you to have a better understanding of it.5. As for terms that you might not know like "BATNA" or "Zopa", try to google them in terms of NEGOTIATION._____________Overall instructions: This is a group paper that sets out your Negotiating Action Plan for the Mushroom negotiation.Please follow the format given below.In answering, remember that this is your plan for the actual negotiation that will take place, not some real-world or ideal one.Remember, you have a role to play and it is situated in a culture. If your Real Self wants to negotiate one way, but your Role Self would likely do something different, be sure to note that either here or in Section B (above).You are free to be yourself in these negotiations, but you can’t shed your assigned culture anymore than in real life you can just ignore your cultural influences.Repeat the questions as your headings in the paper, please.Submit the document file (in MS Word) in Canvas.Only 1 submission per team is necessary.In preparing this paper, do not discuss your role information outside your negotiating team.With your team members, you may discuss info that you choose to, but remember to do so within your assigned role (i.e., not as a student but as a business person).You may find some of the information you need to answer the questions in the Mushroom Simulation documents.Other information will have to be researched.Some answers will require using concepts and frameworks that you have learned from our readings and lectures.Citing Sources:When citing to the readings or the videos, cite them briefly in the text (e.g., Schmidt, PNO 5; Graham & Lam 4-6; Hochner Video #10, etc.).When citing to outside sources, cite them briefly in the text (e.g. Author, year) and include them on a References page at the end.You may either cite them in full APA format on the References sheet OR you may cite them by Author (last name, first name), title, year, hyperlink to the source.Assignment Rubric:Complete Written Product –10% for following instructions, answering all questions, using the readings, formatting & tone, proofreading, grammar, and timeliness.Analysis –40% for clarity and direction of plan, conceptual understanding of negotiation topics, and application of facts to relevant concepts from the text and lectures to craft a negotiating strategyCulture Research (Yours) - 25% for substantial description and application of relevant cultural characteristics of your role’s negotiating culture with sourcesCulture Research (Others) - 25% for substantial description of relevant cultural characteristics of other three cultures and comparisons/contrastsQuestionsA. Statement of Context: The Starting Picture:Open with a statement that describes the context in which YOUR TEAM is negotiating generally.Do not include information about the other teams’ contexts – this is focused on your context for your proposed location and operations.o Country demographicso Cultural issues relating to consumers (location, food, farm-to-table, etc.)o Relevant industry datao Geographical informationo Any other relevant demographics or information you feel that informs YOUR country’s position.o Feel free to include infographics, data images (tables, figures) and anything you think helps strengthen your Statement of ContextB. Team Goalso What are your team’s goals, underlying interests, and priorities in this negotiation? Answer questions such as these for each of your goals:Specify your target, reservation point, and expected ZOPA for each of theseAllocate priorities/strength to your goals. What are your “must-haves,” your “it-would-be-nice-to-haves,” and your “not-a-big-deal” goals?o What is your best alternative (BATNA) to this deal? Would you immediately be able to implement it if you were unable to reach agreement with the other side? Describe your BATNA in detail, including how desirable it is to you.o What, if anything, would make you decide to walk away without a deal?______________________________________________________You do not have to do this part, I am including it just in case you needed to understand the full idea of the assignmentC. Your Team’s Cultural Issues that Affect Negotiation: In Deptho Describe the characteristics of your negotiating team’s culture, using evidence (sources) to support your conclusion.Use Salacuse’s dimensions (2004) (found in Ch.10 of PNO) generally, to structure your discussionUse outside sources to identify where your team’s culture falls in these negotiating style dimensions (the more, the better here!)o Explain how these characteristics you’ve identified about your culture apply to your negotiation practices in your assigned roles.D. Cultural Issues that Affect Negotiation: Other TeamsDescribe the characteristics of the other 3 countries’ negotiating cultures, using evidence (sources) to support your conclusion.o Use Salacuse’s dimensions (2004) (found in Ch.10 of PNO) generally, to structure your discussion.o Use outside sources to talk about what the other negotiating parties’ cultures are like. You do not need to go as in depth as you did with your culture, but do cite support for your position.What are the most important cultural differences between and among the various cultures involved in the cross-cultural simulation in terms of negotiation practices? What are the similarities?o By doing this, you can see who is likely to support you in certain of your approaches, and who is noto Feel free to make a table or other visual if it helps you make your points here – this is your team’s negotiation plan, so it is important that it be usable and thorough for your negotiation team to use before and during negotiationsE. The Other Side – Goals & BATNA -- Trying to Get in their HeadFor each of the 3 other negotiating teams: What do you think their main goals are? Why do you think that?For each of the 3 other negotiating teams: What is your best prediction of their BATNA? Are they strong or weak BATNAs, in your view?F. Negotiating DynamicsWhat should be your team’s strategy (distributive, integrative or a mixture) both overall for each of your specific issues? Which team(s) do you think would make good allies?o Use this section to show off your understanding of strategy concepts in depth! Your book and videos will be a great help with this.Friendly tip: This last section is your Big Question -- this is your BIG FINISH - - the whole point of the paper! Don’t make this too brief, as it’s your Negotiating Plan and worth most of the Analysis (40%) section of the Rubric.
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Saint Marys University Marketing Starbucks Analysis Questions
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A STARBUCKS JUGGERNAUT Good marketing requires practitioners to understand customer needs, wants, and demands. Marketing requires concentration and creativity, close attention and open-mindedness, as well as careful analysis and the courage to take risks. Howard Schultz, CEO of Starbucks, once said, “We cannot be content with the status quo. Any business today that embraces the status quo as an operating principle is going to be on a death march.” Starbucks’ march is clearly going in the opposite direction. It recently reported its highest shareholder return in 10 years, and reported record revenues of $19.2 billion. Indeed, it is working to achieve its mission: “To inspire and nurture the human spirit—one person, one cup and one neighbourhood at a time.” International Expansion Part of the reason for these increased sales has been Starbucks’ continued pursuit of growth and expansion. Along with finding new locations in its home market, recent international expansions have spread the brand to Colombia, Turkey, India, and Norway. Accordingly, the number of stores worldwide has grown to more than 22,519 in 68 countries, demonstrating its commitment to getting better, rather than resting on its laurels (or tea leaves). Such expansion requires flexibility to make sure the marketing plan matches the market. Generally, Starbucks actively avoids any franchise agreements. It wants to own all its stores to ensure consistency and quality. But that strict preference has not worked well in Europe, where it discovered it needed some help to access smaller markets. Although it no longer offers franchises in the United Kingdom, at last count nine franchisees in the United Kingdom owned 45 Starbucks stores. In nations with strict laws regarding foreign ownership of business, such as India and China, Starbucks enters into joint venture partnerships, to make sure it can access these massive and growing markets. Yet Starbucks is well aware of the damage done in the mid-2000s, when it expanded so rapidly and indiscriminately that customers started rejecting the chain as too ubiquitous—too much, everywhere they turned. The company slumped during that period, suffering from a weakened reputation, negative press, and consumer complaints about quality. Let’s look at how Starbucks is managing its marketing mix, or the 4Ps, as it moves forward. Product Innovation Growth for the corporation also comes about through introducing new product lines. For Starbucks, the purchase of Teavana should do for tea what has already been done for coffee—turn it into a pleasurable, happy experience that people can treat themselves to on a daily basis. Teavana stores offer more than 100 flavours, including non-traditional names such as Slimful Chocolate Decadence Oolong, Cococaramel Sea Salt, Yunnan Golden Pu-Erh, and Spice of Life. Tea sales grew by 17 percent last year. Starbucks plans to expand the Teavana brand in Europe, as well as in China and other Asia–Pacific countries. And in 2016, Starbucks rolled out an Evenings Menu at three Toronto locations that allows consumers to purchase alcoholic beverages such as wine, beer, and cider. Of course, this is not to suggest that Starbucks has never erred in its marketing decisions. Even the best marketers are prone to stumbling sometimes. When Starbucks sought to expand its line of breakfast foods, consumers found the offerings bland and unappealing. The food often took too long to prepare, especially for busy baristas during the morning rush. But part of the success of the chain is its ability to learn from its mistakes. When Starbucks purchased La Boulange Café and Bakery for $100 million, it tasked the chain’s founder, Pascal Rigo, with laying out a specific plan for adding to the pastries in its display cases. Rigo had multiple tasks to complete before his croissants and muffins would make it into Starbucks. He had to find a way to fit freezers into every single Starbucks store (not an easy task in tiny shops, where space is at a premium). He had to define a training plan to help baristas learn how and when to suggest and sell the pastries. And he needed to identify or create local bakeries that could be trusted to make the products consistently and on time and supply them to each store. These tasks were part of the marketing plan; without establishing a good supply, Starbucks would not allow the foods into its well designed, appealing stores. But by paying attention to the detail and thinking creatively, Rigo and Starbucks found a way to make La Boulange pastries an appealing addition to Starbucks stores. Promotion Innovations Starbucks is leveraging the promotion P as well by developing thoughtful campaigns that reflect currency and the image and corporate personality that it wishes to portray. It often promotes new products with “buy one, get one free” offers. Its rewards program, although dramatically revised in the spring of 2016, continues to bring loyal customers back to its stores. The rewards program allows Starbucks to track customer purchases, capturing buying history and preferences. It also allows the company to create personalized offers and make unique recommendations for customers. Promotions are also tied into the use of the Starbucks app to make payment fast and easy, or the Mobile Order & Pay app, which lets customers order ahead and bypass the line on arrival. Pricing From its inception, Starbucks has charged premium prices. With relatively few specialty coffeehouses at the time, it stood out as being unique in many markets. Most North Americans had never tasted freshly ground espresso, let alone cappuccinos or lattes. They certainly hadn’t experienced the warm, inviting, and relaxing atmosphere in which they could sit and visit with friends or do some reading or work. The personalized exchange customers had with a barista was also unusual. Even after it experienced intense competition from McDonald’s, Tim Hortons®, and independent coffeehouses; rapid expansion both domestically and internationally; and a backto-its-roots change of strategy that reflects quality products and superior service, it still commands a premium price. Moving into the future, Starbucks is counting on the increased use of payment via smartphone apps, prepaid cards, and credit cards to take away some of the sting of its relatively high prices. Improvements to the Supply Chain As the La Boulange example shows, Starbucks has learned the importance of a consistent supply of products, part of the place P. The supply chain is critical to any good marketing effort, another lesson that Starbucks seemingly has learned the hard way. When it first chose to distribute ground coffee and beans through grocery stores, it turned to an existing consumer packaged-goods company, Kraft, for help. The partnership was not successful and ultimately fell apart. In particular, Starbucks alleged that Kraft was not doing enough to market and promote its branded goods. In demonstrating its ability to pay attention to changes in its situation, Starbucks also contended that the partnership was limiting its marketing capacities. For example, the agreement required that it produce only single-serve coffee pods that fit Kraft’s Tassimo system. This left Starbucks unable to compete for the segment of consumers who had purchased other systems. The company now has a partnership with Keurig Green Mountain to supply Starbucks K-cup pods. By securing greater control over its distribution, Starbucks also can more rapidly and effectively implement new strategies for its consumer packaged-goods business. This sector is a strong focus for Starbucks, which hopes to sell more packaged goods through additional channels, such as hotels and restaurants, as well as grocery stores. Commitment to Sustainability Like Tim Hortons®, Starbucks is also committed to sustainability. It launched the Sustainable Coffee Challenge along with Conservation International and other organizations to work toward making coffee a sustainable agricultural product. Its “One Tree for Every Bag” program demonstrates a commitment to ethical sourcing. Through this program, Starbucks can scale support to farmers in need. For example, this year it will donate 20 million rust-resistant coffee tree seedlings. These aspects of Starbucks’ strategy highlight how marketing can lead to success. But they also demonstrate that the coffee chain’s success was not predestined or guaranteed. In its past marketing efforts, Starbucks has made plenty of missteps, and likely will do so again. The goal, for Starbucks and for any great marketer, is to make sure that the value for customers is sufficient to overcome any stumbles, and then to work harder to avoid them. Questions 1. How does Starbucks create and provide value for customers? (3 points) 2. Why can Starbucks charge so much more for a latte compare to chains like Tim Hortons? (2 points) 3. What sorts of expansions seem most likely to benefit Starbucks in the future? Which seem riskiest? (2 points) 4. Based on what you have just read, what is one of Starbucks’ marketing objectives and what else would you recommend that Starbucks do to achieve this objective? (3) Marking Rubric Excellent (9-10) Clearly answers all questions with support and justification Answers include creative solutions and thorough explanation Responses are free of grammatical errors and fit in 2 pages or less Good (7-8) Answers questions but lacks clarity or supporting evidence Answers include creative solutions and explanation Responses have some grammatical errors or do not follow required format OK or less (6 and below) Does not clearly answer questions Answers lack creative solutions Answers have many spelling errors and/or grammatical mistakes
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Temple Cross Cultural Negotiation Simulation Mushroom Negotation Action Plan
Before you start, please know:1. This is a group project and you only need to do part A and B. The length of the paper doe ...
Temple Cross Cultural Negotiation Simulation Mushroom Negotation Action Plan
Before you start, please know:1. This is a group project and you only need to do part A and B. The length of the paper does not really matter, as long as you make sure to include all of the required details.2. The country that we chose is Australia.3. so basically we can say we are negotiating for mushroom being in Australia because our customers want fresh local food and we hold fresh ingredients near and dear to us, and then go more in-depth with the price and all that. In the info, it does say we don’t have a problem with frozen food and because of distances in Australia we have to have frozen food realistically but Australian people like wines, spices, and oils from different places.4. Please Read all of the instructions to understand what the assignment is about. I will attach another file called " Mushroom A Cross Cultural Negotiation Simulation" to help you to have a better understanding of it.5. As for terms that you might not know like "BATNA" or "Zopa", try to google them in terms of NEGOTIATION._____________Overall instructions: This is a group paper that sets out your Negotiating Action Plan for the Mushroom negotiation.Please follow the format given below.In answering, remember that this is your plan for the actual negotiation that will take place, not some real-world or ideal one.Remember, you have a role to play and it is situated in a culture. If your Real Self wants to negotiate one way, but your Role Self would likely do something different, be sure to note that either here or in Section B (above).You are free to be yourself in these negotiations, but you can’t shed your assigned culture anymore than in real life you can just ignore your cultural influences.Repeat the questions as your headings in the paper, please.Submit the document file (in MS Word) in Canvas.Only 1 submission per team is necessary.In preparing this paper, do not discuss your role information outside your negotiating team.With your team members, you may discuss info that you choose to, but remember to do so within your assigned role (i.e., not as a student but as a business person).You may find some of the information you need to answer the questions in the Mushroom Simulation documents.Other information will have to be researched.Some answers will require using concepts and frameworks that you have learned from our readings and lectures.Citing Sources:When citing to the readings or the videos, cite them briefly in the text (e.g., Schmidt, PNO 5; Graham & Lam 4-6; Hochner Video #10, etc.).When citing to outside sources, cite them briefly in the text (e.g. Author, year) and include them on a References page at the end.You may either cite them in full APA format on the References sheet OR you may cite them by Author (last name, first name), title, year, hyperlink to the source.Assignment Rubric:Complete Written Product –10% for following instructions, answering all questions, using the readings, formatting & tone, proofreading, grammar, and timeliness.Analysis –40% for clarity and direction of plan, conceptual understanding of negotiation topics, and application of facts to relevant concepts from the text and lectures to craft a negotiating strategyCulture Research (Yours) - 25% for substantial description and application of relevant cultural characteristics of your role’s negotiating culture with sourcesCulture Research (Others) - 25% for substantial description of relevant cultural characteristics of other three cultures and comparisons/contrastsQuestionsA. Statement of Context: The Starting Picture:Open with a statement that describes the context in which YOUR TEAM is negotiating generally.Do not include information about the other teams’ contexts – this is focused on your context for your proposed location and operations.o Country demographicso Cultural issues relating to consumers (location, food, farm-to-table, etc.)o Relevant industry datao Geographical informationo Any other relevant demographics or information you feel that informs YOUR country’s position.o Feel free to include infographics, data images (tables, figures) and anything you think helps strengthen your Statement of ContextB. Team Goalso What are your team’s goals, underlying interests, and priorities in this negotiation? Answer questions such as these for each of your goals:Specify your target, reservation point, and expected ZOPA for each of theseAllocate priorities/strength to your goals. What are your “must-haves,” your “it-would-be-nice-to-haves,” and your “not-a-big-deal” goals?o What is your best alternative (BATNA) to this deal? Would you immediately be able to implement it if you were unable to reach agreement with the other side? Describe your BATNA in detail, including how desirable it is to you.o What, if anything, would make you decide to walk away without a deal?______________________________________________________You do not have to do this part, I am including it just in case you needed to understand the full idea of the assignmentC. Your Team’s Cultural Issues that Affect Negotiation: In Deptho Describe the characteristics of your negotiating team’s culture, using evidence (sources) to support your conclusion.Use Salacuse’s dimensions (2004) (found in Ch.10 of PNO) generally, to structure your discussionUse outside sources to identify where your team’s culture falls in these negotiating style dimensions (the more, the better here!)o Explain how these characteristics you’ve identified about your culture apply to your negotiation practices in your assigned roles.D. Cultural Issues that Affect Negotiation: Other TeamsDescribe the characteristics of the other 3 countries’ negotiating cultures, using evidence (sources) to support your conclusion.o Use Salacuse’s dimensions (2004) (found in Ch.10 of PNO) generally, to structure your discussion.o Use outside sources to talk about what the other negotiating parties’ cultures are like. You do not need to go as in depth as you did with your culture, but do cite support for your position.What are the most important cultural differences between and among the various cultures involved in the cross-cultural simulation in terms of negotiation practices? What are the similarities?o By doing this, you can see who is likely to support you in certain of your approaches, and who is noto Feel free to make a table or other visual if it helps you make your points here – this is your team’s negotiation plan, so it is important that it be usable and thorough for your negotiation team to use before and during negotiationsE. The Other Side – Goals & BATNA -- Trying to Get in their HeadFor each of the 3 other negotiating teams: What do you think their main goals are? Why do you think that?For each of the 3 other negotiating teams: What is your best prediction of their BATNA? Are they strong or weak BATNAs, in your view?F. 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Saint Marys University Marketing Starbucks Analysis Questions
A STARBUCKS JUGGERNAUT Good marketing requires practitioners to understand customer needs, wants, and demands. Marketing r ...
Saint Marys University Marketing Starbucks Analysis Questions
A STARBUCKS JUGGERNAUT Good marketing requires practitioners to understand customer needs, wants, and demands. Marketing requires concentration and creativity, close attention and open-mindedness, as well as careful analysis and the courage to take risks. Howard Schultz, CEO of Starbucks, once said, “We cannot be content with the status quo. Any business today that embraces the status quo as an operating principle is going to be on a death march.” Starbucks’ march is clearly going in the opposite direction. It recently reported its highest shareholder return in 10 years, and reported record revenues of $19.2 billion. Indeed, it is working to achieve its mission: “To inspire and nurture the human spirit—one person, one cup and one neighbourhood at a time.” International Expansion Part of the reason for these increased sales has been Starbucks’ continued pursuit of growth and expansion. Along with finding new locations in its home market, recent international expansions have spread the brand to Colombia, Turkey, India, and Norway. Accordingly, the number of stores worldwide has grown to more than 22,519 in 68 countries, demonstrating its commitment to getting better, rather than resting on its laurels (or tea leaves). Such expansion requires flexibility to make sure the marketing plan matches the market. Generally, Starbucks actively avoids any franchise agreements. It wants to own all its stores to ensure consistency and quality. But that strict preference has not worked well in Europe, where it discovered it needed some help to access smaller markets. Although it no longer offers franchises in the United Kingdom, at last count nine franchisees in the United Kingdom owned 45 Starbucks stores. In nations with strict laws regarding foreign ownership of business, such as India and China, Starbucks enters into joint venture partnerships, to make sure it can access these massive and growing markets. Yet Starbucks is well aware of the damage done in the mid-2000s, when it expanded so rapidly and indiscriminately that customers started rejecting the chain as too ubiquitous—too much, everywhere they turned. The company slumped during that period, suffering from a weakened reputation, negative press, and consumer complaints about quality. Let’s look at how Starbucks is managing its marketing mix, or the 4Ps, as it moves forward. Product Innovation Growth for the corporation also comes about through introducing new product lines. For Starbucks, the purchase of Teavana should do for tea what has already been done for coffee—turn it into a pleasurable, happy experience that people can treat themselves to on a daily basis. Teavana stores offer more than 100 flavours, including non-traditional names such as Slimful Chocolate Decadence Oolong, Cococaramel Sea Salt, Yunnan Golden Pu-Erh, and Spice of Life. Tea sales grew by 17 percent last year. Starbucks plans to expand the Teavana brand in Europe, as well as in China and other Asia–Pacific countries. And in 2016, Starbucks rolled out an Evenings Menu at three Toronto locations that allows consumers to purchase alcoholic beverages such as wine, beer, and cider. Of course, this is not to suggest that Starbucks has never erred in its marketing decisions. Even the best marketers are prone to stumbling sometimes. When Starbucks sought to expand its line of breakfast foods, consumers found the offerings bland and unappealing. The food often took too long to prepare, especially for busy baristas during the morning rush. But part of the success of the chain is its ability to learn from its mistakes. When Starbucks purchased La Boulange Café and Bakery for $100 million, it tasked the chain’s founder, Pascal Rigo, with laying out a specific plan for adding to the pastries in its display cases. Rigo had multiple tasks to complete before his croissants and muffins would make it into Starbucks. He had to find a way to fit freezers into every single Starbucks store (not an easy task in tiny shops, where space is at a premium). He had to define a training plan to help baristas learn how and when to suggest and sell the pastries. And he needed to identify or create local bakeries that could be trusted to make the products consistently and on time and supply them to each store. These tasks were part of the marketing plan; without establishing a good supply, Starbucks would not allow the foods into its well designed, appealing stores. But by paying attention to the detail and thinking creatively, Rigo and Starbucks found a way to make La Boulange pastries an appealing addition to Starbucks stores. Promotion Innovations Starbucks is leveraging the promotion P as well by developing thoughtful campaigns that reflect currency and the image and corporate personality that it wishes to portray. It often promotes new products with “buy one, get one free” offers. Its rewards program, although dramatically revised in the spring of 2016, continues to bring loyal customers back to its stores. The rewards program allows Starbucks to track customer purchases, capturing buying history and preferences. It also allows the company to create personalized offers and make unique recommendations for customers. Promotions are also tied into the use of the Starbucks app to make payment fast and easy, or the Mobile Order & Pay app, which lets customers order ahead and bypass the line on arrival. Pricing From its inception, Starbucks has charged premium prices. With relatively few specialty coffeehouses at the time, it stood out as being unique in many markets. Most North Americans had never tasted freshly ground espresso, let alone cappuccinos or lattes. They certainly hadn’t experienced the warm, inviting, and relaxing atmosphere in which they could sit and visit with friends or do some reading or work. The personalized exchange customers had with a barista was also unusual. Even after it experienced intense competition from McDonald’s, Tim Hortons®, and independent coffeehouses; rapid expansion both domestically and internationally; and a backto-its-roots change of strategy that reflects quality products and superior service, it still commands a premium price. Moving into the future, Starbucks is counting on the increased use of payment via smartphone apps, prepaid cards, and credit cards to take away some of the sting of its relatively high prices. Improvements to the Supply Chain As the La Boulange example shows, Starbucks has learned the importance of a consistent supply of products, part of the place P. The supply chain is critical to any good marketing effort, another lesson that Starbucks seemingly has learned the hard way. When it first chose to distribute ground coffee and beans through grocery stores, it turned to an existing consumer packaged-goods company, Kraft, for help. The partnership was not successful and ultimately fell apart. In particular, Starbucks alleged that Kraft was not doing enough to market and promote its branded goods. In demonstrating its ability to pay attention to changes in its situation, Starbucks also contended that the partnership was limiting its marketing capacities. For example, the agreement required that it produce only single-serve coffee pods that fit Kraft’s Tassimo system. This left Starbucks unable to compete for the segment of consumers who had purchased other systems. The company now has a partnership with Keurig Green Mountain to supply Starbucks K-cup pods. By securing greater control over its distribution, Starbucks also can more rapidly and effectively implement new strategies for its consumer packaged-goods business. This sector is a strong focus for Starbucks, which hopes to sell more packaged goods through additional channels, such as hotels and restaurants, as well as grocery stores. Commitment to Sustainability Like Tim Hortons®, Starbucks is also committed to sustainability. It launched the Sustainable Coffee Challenge along with Conservation International and other organizations to work toward making coffee a sustainable agricultural product. Its “One Tree for Every Bag” program demonstrates a commitment to ethical sourcing. Through this program, Starbucks can scale support to farmers in need. For example, this year it will donate 20 million rust-resistant coffee tree seedlings. These aspects of Starbucks’ strategy highlight how marketing can lead to success. But they also demonstrate that the coffee chain’s success was not predestined or guaranteed. In its past marketing efforts, Starbucks has made plenty of missteps, and likely will do so again. The goal, for Starbucks and for any great marketer, is to make sure that the value for customers is sufficient to overcome any stumbles, and then to work harder to avoid them. Questions 1. How does Starbucks create and provide value for customers? (3 points) 2. Why can Starbucks charge so much more for a latte compare to chains like Tim Hortons? (2 points) 3. What sorts of expansions seem most likely to benefit Starbucks in the future? Which seem riskiest? (2 points) 4. Based on what you have just read, what is one of Starbucks’ marketing objectives and what else would you recommend that Starbucks do to achieve this objective? (3) Marking Rubric Excellent (9-10) Clearly answers all questions with support and justification Answers include creative solutions and thorough explanation Responses are free of grammatical errors and fit in 2 pages or less Good (7-8) Answers questions but lacks clarity or supporting evidence Answers include creative solutions and explanation Responses have some grammatical errors or do not follow required format OK or less (6 and below) Does not clearly answer questions Answers lack creative solutions Answers have many spelling errors and/or grammatical mistakes
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