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Running head: PRODUCT MANAGEMENT CONCEPTS
PRODUCT MANAGEMENT CONCEPTS
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PRODUCT MANAGEMENT CONCEPTS
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PRODUCT MANAGEMENT CONCEPTS
Starbucks Corporation is an American based coffee company with many chains founded
in 1971 in the state of Washington and the city of Seattle. By the month of November 2006, there
was twenty-three thousand seven hundred and sixty-eight Starbucks location across the world.
The coffee market is saturated and in spite of this Starbucks has managed to make a name for it
by securing a large market share. There are a number of factors that have contributed to the
success of Starbucks as a world-renowned coffee house. One reason for the success is the fact
that since its inception it differentiated itself from other venues in the United States serving
coffee by the high-quality whole bean coffee (Michelli, 2007). Starbucks makes its coffee from a
whole bean that is always freshly roasted giving Starbucks coffee a unique high quality that is
not present in coffees sold in other venues. People like to go for the best quality products, which
is the main reason that Howard Schultz purchases Starbucks and made it into the multibilliondollar franchise it is.
Another factor that has led to the success of Starbucks is the customer experience that
they offer. Starbucks describes its interactions with each of its customers as unique. Starbucks
provides an environment for the customer that is in between home and work. Many people come
to Starbucks for a place to socialize and talk to each other and sometimes even to work in
addition to the coffee. Starbucks engages in responsible business practices, which is another
factor that has contributed to their success in spite of the completion in the coffee market.
Starbucks chains all over the world are other contributing factors to the success of Starbucks.
With its multiple locations, it has managed to establish itself in multiple markets making it more
of a success ("About Us", 2018). Starbucks investors are another factor that has largely
contributed tit e success of the coffee company. Starbucks has investors all over the world and as
investors are crucial to the success of a business the fact that Starbucks has so many of them is a
bonus.
The pro...