Starbucks Going Global Fast
There are many topics that arise throughout the case with Starbucks Corporation. Starbucks Coffee is located worldwide and there are many different ways to look at this situation. The company offers a unique range of coffee, lattes, espressos, and café style drinks. The company intended to reach a specific target audience, but has ended up in many different markets and has been growing rapidly. Starbucks has greatly used the “youth appeal” strategy to gain entrance into new markets. However, such enthusiasm cannot be counted on indefinitely; other strategies are always in the works. Over time Starbucks has been able to acquire a solid brand reputation and has a world renowned company logo.
There have been some distinguished controllable and uncontrollable elements Starbucks has encountered when entering global markets. The strategies of any company’s goals are vital to its success. This is one area Starbucks has excelled in, just as McDonald’s has in recent years. Starbucks has paralleled its branding with the actions found at any Starbucks across the world. They have an excellent company vision, which they stick to, which in turn assists their brand image. Starbucks’ image has been achieved not only through this and their massive global entrance, but through their ability to provide honest quality service.
In recent years there was a time that Starbucks saw the opportunity to go global and jumped on it. As far as this article goes, when looking at company weaknesses there is nothing that is of a serious concern for the business. If you look at Starbucks today you would see a much different perspective. The corporation started off using a benchmarking strategy trying to mimic what was done within other leading competitors. (Now Starbucks is the benchmark!) The company continues to work towards its long-term goal of becoming the most recognized and respected brand of coffee in the world. In one article I read, a spokesperson from Starbucks said they hoped to be the Q-Tip of the coffee business.
There are a few risks facing the company. One of which Starbucks is already attacking and trying to overcome. The expansion of Starbucks is coinciding with one of the worst economic surges in history. It has become unaffordable for the average person to go to Starbucks for a coffee seeing that a coffee costs as much as a gallon of gas. If you drink one coffee a day for a week, that’s almost a tank of gas! This is why Starbucks is now offering a less expensive cup of coffee with a completely different label and all.