Marketing Plan: Phase III Presentation

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timer Asked: Jun 5th, 2018
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Question description

NO PLAGARISM, MUST BE ORIGINAL WORK

ALL SLIDES MUST CONTAIN DETAILED SPEAKER NOTES AS IF PRESENTING TO A CLASS. 2 OR 3 SENTENCES IS NOT ENOUGH.

KEEP ALL SLIDES MINIMAL (5X5), DO NOT USE FULL SENTENCES ON THE SLIDES.

THERE IS NO SLIDE MINIMUM COUNT

FEEL FREE TO USE IMAGES AND GRAPHS

ONLY DO THE BULLETS HIGHLIGHTED BELOW IN BOLD AND UNDERLINED

USE STARBUCKS AND PRODUCT LISTED IN PREVIOUS POWER POINTS, ALL PREVIOUS POWER POINTS ARE ATTACHED AS TO USE AS A REFERENCE.

Based on the product or service you select for your marketing plan, prepare a 10-15 slide presentation in which you answer the following questions:

  • Describe the detailed attributes of your product or service
  • Describe where your product and its competitors are in their product life cycle as well as the factors that will impact your product's movement through the product lifecycle. (Clue: you can't have a product enter a mature market unless it is high differentiated. And generally, a company and the market are at the same stage of the lifecycle unless the product is totally disruptive for the existing market).
  • Describe how does the product life cycle impact the marketing of your selected product or service? How does it impact your company's differentiation and pricing power?
  • Identify the positioning and differentiation strategies for your product/service.
  • Identify the pricing strategy that should be used for the product or service. (clue, if you are doing a store of some kind your menu is your price list)
  • Address in detail three elements of your marketing plan.

1) Distribution Strategies
2) Channel Strategies: Mass, Selective, Exclusive
3) Positioning within channels
4) Dynamic/Static Pricing Strategies
6) Daily pricing, promotion pricing, and list pricing

MKT/571 Instructor: Myles Suer Team A: Gregory Aranha Joseph Blue Walker Lepulu Starbucks On-The-Go Jose Ramirez Chad Stacy Agenda Company Overview New Service Description Market Needs New Service Importance SWOTT Analysis 10-Question Survey Competitor Overview Conclusion • Founded in Seattle, Washington in 1971 • Operates in over 26,696 locations worldwide • Employs 238,000 employees Starbuck’s Company Overview • Offers a choice coffee beverages, Italian-style espresso beverages, cold blended beverages, iced shaken refreshment beverages and a selection of teas and distinctively packaged roasted whole bean coffees • Brings Starbucks directly to customers • Convenient, timely orders made fresh • Customer’s no longer have to worry about going off-site to get Starbucks • Same Quality, More accessible New Service Description: Brew-on-Wheels Customers Want: • Casual and Informal sales environments • Relaxing and Enjoyable Experience • Gourmet Experience Market needs Brew-on-Wheels: • Elevates Food Options • Adds a strategic element encompassing innovation • Places the company in a strategic advantage in chosen market arenas Justification Product Differentiation Points-Of-Difference and PointsOf-Parity • According to KOTLER and KELLER (2016), “Points-ofdifference (PODs) - are attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand” (Chapter 10 Crafting the Brand Positioning). • According to KOTLER and KELLER (2016), “Points-ofparity (POPs), on the other hand, are attributes or benefit associations that are not necessarily unique to the brand but may in fact be shared with other brands”(Chapter 10 Crafting the Brand Positioning). • (3) Basic Forms of POPs • Category • Correlational • Competitive Points-Of-Difference (PODs) • (3) Criteria that determines whether effective brand association can truly function as a Point-of-Difference: • Desirability • Deliverability • Differentiability • Differentiator’s for On-The-Go Starbuck’s • Desirability • Determined market demand for mobile locations • Specific markets can be requested by consumer • Deliverability • Product design and marketing offering must sustain expectations of Starbucks quality • Differentiability • Starbucks brand association must continue to be recognized as distinctive and superior to relevant competition Points-Of-Parity (POPs) • According to KOTLER and KELLER (2016), “Points-of-parity (POPs), on the other hand, are attribute or benefit associations that are not necessarily unique to the brand but may in fact be shared with other brands”(Chapter 10 Crafting the Brand Positioning). • (3) Basic Forms of POPs • Category • Attributes that consumers view as essential. “Price of Admission” in the gourmet coffee industry. • Correlational • Attributes that make up their POPs or PODs are inversely related. (e.g., gourmet coffee, delivered incurs higher cost) • Competitive • Designed to overcome perceived weaknesses of the brand in light of competitors’ points-of-difference. • Competitor’s PODs will, in turn, will influence the brand’s POPs. Strengths • It will bring about a strong marketing position and brand recognition globally • Mobility of the food trucks in different locations, will enhanced the company to be able to comply with customer taste and preferences • Additionally, extensive use of technology will increase the effectiveness of the company • The company will show its uniqueness in supplying coffee/pastries in colleges Strengths Cont’ • Improved customer loyalty due to the new services that the company will have to offer. • Implementation of Starbucks customer reward gifts will attract more consumers. • There will be intensive innovation by use of technology as a result • Effective advertising will be possible • Provision of wide variety of products Weaknesses • Product cost • Self-cannibalism in Starbucks • Limited future expansion • The coffee culture clash • Starbucks coffee usage will no longer be limited to Americans • Dependence on the US markets which leads to saturation Opportunities • Expansion of new emerging markets • Self-cannibalism and saturation will be a way to integrate international markets • Opportunity to expand products variety buy the new innovations. Threats • There will be Increased competition from companies such as Dunkin Brands, Costa Coffee as well as McDonald's. • Dunkin Brands is marked as the main threat for the Starbucks since it is about 24% trailing in the US markets (Geereddy, 2013). • Price fluctuations due to the amount of money spent in innovation Trends • Advanced use of technology and innovation through the mobile trucks • Expansion of emerging markets • Extensive retail operations • Saturation of the US markets Current & Projected Competition • McDonalds, Dunkin’ Donuts, Peet’s Coffee • Convenience Stores and Fast Food chains • Mom & Pops coffee shops Competitive Landscape w/ Strengths and Weaknesses Coffee industry employs 1 million people Established market selling doughnuts The cannot duplicate the Starbucks’ experience $225.2 billion made in 2015 They are new Mature industry with lots of growth potential still Strengths Weaknesses Established market in fast food industry Conclusion • Utilizing mobile catering expands the brand • Allows the company to further it’s mission • Capitalizes on the opportunity to saturate harder-to-reach markets References Geereddy, N. (2013). Strategic analysis of Starbucks corporation. Harward [Електронний ресурс].–Режим доступу: http://www.scholar.harvard.edu/files/nithingeereddy/files/starbucks_ case_analysis. pdf/ Hawley, J. (2018). Investopedia. Retrieved from https://www.investopedia.com/articles/markets/101315/who-are-starbucks-maincompetitors.asp KOTLER, P., & KELLER, K. L. (2016). Marketing Management (15th ed.). Retrieved from https://phoenix.vitalsource.com/books/9781323299838/epubcfi/6/2[idloc_ 000.xhtml-itemref]!/4[eid1]/2[eid2]@0:65.8. Starbucks Corporation 10-K. (n.d.). Retrieved from https://www.sec.gov/Archives/edgar/data/829224/000089102003002898/v95180e10vk.htm#002 SWOT analysis of starbucks - starbucks SWOT analysis. (2018, March 1). analysis-starbucks/ Retrieved from https://www.marketing91.com/swot- 2017 US Coffee Drinking Trends Include More Gourmet, More Youth. (2017, August 31). Retrieved from https://dailycoffeenews.com/2017/03/27/2017-us-coffee-drinking-trends-include-more-gourmet-more-youth/
Starbucks On The Go MKT/571 Instructor: Myles Suer Learning Team A: Gregory Aranha Joseph Blue Walker Lepulu Jose Ramirez Chad Stacy Target Market • Starbucks on the go: selfserve concept • Fits into a variety of environments: offices, street corners • Designed to look and feel like a conventional Starbuck coffeehouse • Target market: individuals on the move • People who want to grab their coffee and be on the move. Target Market • May include: university students in their campuses, • The healthcare workers in various health facilities • Employees in a given office block • Travelers on the roadside or stores, or airports • Cinemas and many other public locations Target Market's Demographics and Psychographics • Starbucks demography : • Gender • Lifecycle stage • Occupation • Main customers are students employees and professionals • Main target market were people in the urban areas Target Market's Demographics and Psychographics • Psychographics-groups of customers: • guided by their lifestyles • purchase behaviors-attitudes, the customers' activities/attitudes. • Majority of the Starbucks customerscollege educated and have a good income • Prefer sociable environment • Variety of needs: • desire a freshly brewed beverage • preference for convenience • fast and friendly services • affordability Insights • Starbucks gets to know its customers through: 1. The type of drinks consumed 2. Bulk coffee purchases 3. Food purchase behavior Potential Market Criteria • “Third Place“ Concept • Competitive Advantage ▫ Blanket an area completely Chad Target Market Segmentation Factor Identification • Men & Women age 25-40 • Certain drinks found “appealing” • Has a professional career Customer Groups Needs & Wants • Mono segment positioning • Adaptive positioning • Standby positioning Detail Portrait • Identify the very best customers for your product then focus all marketing, • Advertise sales efforts on this particular type of customer • Define product from the customer's point of view • Define the ideal customer for what you sell • Determine specific benefits customer seeking in buying your product. Ideal Consumer & Specific Buyers • Businessperson on the go • Internet Customers enjoy atmosphere and do business while enjoying coffee • Customers working in big offices who can pick up pastries or coffee in the morning for their coworkers • Young, well educated, and with a somewhat lower income • Satisfy the customer so they buys from you again Differentiate Your Product • • • • • • Product Differentiation Service Differentiation Distribution Differentiation Relationship Differentiation Image/Reputation Differentiation Price Differentiation Buying Behaviors & Decision Motivators • Low involvement ▫ Inexpensive ▫ Little risk • High involvement ▫ More expensive ▫ Harder to make the case to the customer Influence & Impact • Starbucks will encounter many new markets and cultures • Different kinds of customers demanding unique and appealing products. • Continuously offer customers a high level of value and satisfaction, • Focusing on products range& services provided References • Dudovskiy, J (2017). Starbucks Segmentation, Targeting and Positioning – Targeting Premium Customers with Quality Products and Service. Research Methodology. Retrieved from https://research-methodology.net/starbucks-segmentationtargeting-and-positioning-targeting-premium-customers-withquality-products-and-service/ • Melllinger, B.B (2018). Who is Starbucks’ Target Audience? Retrieved from http://smallbusiness.chron.com/starbucks-targetaudience-10553.html • Selecta. (2018). Starbucks on the go: What is Starbucks on the go? Selecta. https://www.selecta.co.uk/starbucks/ • Starbucks (2017). Starbuck on the go. Starbucks. https://solutions.starbucks.com/on-the- References • https://blog.marketresearch.com/6-ways-to-differentiate-yourbusiness-from-the-competition • https://www.entrepreneur.com/article/75648

Tutor Answer

Ben95
School: University of Virginia

Attached.

Name
Course
Institution
Date

Positioning and differentiation
strategies.
 Differentiation and positioning are related marketing

strategies
 Differentiation is the way positioning is carried out by
promoting unique benefits and attributes being
offered.
 Positing are the strategies put in ...

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Anonymous
Outstanding Job!!!!

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