Starbucks has been reporting considerable growth and profit from the beginning of its operations. However, there has been sudden decline in the profits and share prices of the company. There has been different perceptions and views about this decline and downward trends. According to some analysts, the strategy of ongoing expansion of stores has resulted in decreasing the quality of the service and at the same time has cannibalised the overall sales. Along with this the strategy of diversification into different areas like promoting movies, offering hot food, and starting different themed shops have resulted in diluting the overall image of the company. It is also important to consider that the management of the company is so much busy in coming up with new products and services that the core product of the company which is high quality coffee has been neglected. Along with this there has been drastic shift in the level of the quality of the service provided at the outlets. Customers have been complaining about the lost experience which was trademark of Starbucks. In view of all these marketing challenges and issues, management of Starbucks has been looking forward to change the overall positioning of the brand. In this regard it is important to first analyse and evaluate the current services marketing mix of the company and look for the room of improvements. Apart from this the new marketing strategies should be devised keeping in view the changing preferences and needs of the target market. In this report an attempt has been made to analyse the importance of branding, brand strategy, and brand positioning for the Starbucks. Along with this the strategy of repositioning the brand is also evaluated along with existing marketing issues and challenges faced by the company and the services marketing mix of the company. The report also suggests the possible adaption or changes in the service marketing mix which should be incorporated by the company in order to reposition the brand in effective and efficient manner. ROLE OF BRANDING, BRAND STRATEGY, AND BRAND POSITIONING FOR STARBUCKS: Branding facilitates the organisations in the process of attracting and retaining more customers and hence making more revenues and sales. In this new era of globalisation and technological advancement it is important for every organisation to work on building relationships with the customers and for this there is the need of brand management and brand strategies. As a result, it has become important for the organisations to include brand management and relationship marketing in the overall integrated marketing communication strategy (Lovelock & Wirtz, 2011). It is not easy for any company to build big brand names and brand images. This requires proper and well thought brand strategies and positioning, same is the case with the Starbucks. The founders and management of the company has been focusing on promoting the Starbucks. Starbucks has always promoted itself as a premium brand of coffee and it has been striving to provide the customers with the ultimate experience in the coffee store. The idea or concepts of branding, brand strategy, and brand positioning have been important for every organisation. One has to be careful while deciding about a particular brand image and brand positioning, as it is not easy to change or alter the brand image and b
BRAND: STARBUCKS ‘CAN THE BRAND BE REVITALISED’ By INTRODUCTION: Starbucks is one of the biggest names in the specialty coffee industry. The company is known to be a pioneer of different specialty coffee…
Let us take the example of Starbucks and analyze the various aspects of the brand in terms of brand promise, personality, values, attributes and identity. Before Starbucks emerged on the market of coffee shops a cup of coffee meant a cup of steaming black brew (Burks, 2009, p.01).
Even if you have the first two elements, they won't help the company unless you have strong branding. According to Scott Bedbury, “brands are not simply products or services. Brands are the sum totals of all the images that people have in their heads about a particular company and a particular mark.
This reputation of brand depends upon the positioning and quality of brand (Azouly & Kapferer, 2003). This study is mainly aimed at the evaluation of the branding process and its effects on the advertising of Starbucks Company.
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2 pages (500 words)Essay
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