Starbucks Marketing Plan Executive Summary
Every business requires adequate planning for every of its segment before takeoff. Without this critical requirement, it becomes difficult to operate optimally as this would likely reflect during the lifecycle of the business no matter how small it is. It becomes necessary therefore to put the right measures in place. Such is our focus as we seek to provide a sample Starbucks marketing plan executive summary to enable the reader and entrepreneur understand what a well-written marketing plan executive summary should look like.
The executive summary section is necessary for every written marketing plan as it seeks to highlight the key areas contained in the coffee shop marketing plan. The information provided in the executive summary section gives a rough idea or picture of what is contained in the marketing plan. Doing a shabby work here may end up making the reader develop cold feet in going through the marketing plan. This can cost you the much-desired funding you seek for your business enterprise. Let’s get to the details.
As a coffee business seeking to expand to cover new markets, Starbucks is a coffee business which has been in existence for over a decade. It is known for its high-quality coffee services and products, some of which include espresso drinks such as Iced Espresso Classics with several flavours which consist of Vanilla Latte, Caffe Mocha, Caramel Macchiato, Skinny Caramel Macchiato and Skinny Vanilla Latte as well as Starbucks Doubleshot which include variants such as Energy Coffee Drink and Energy Mexican Mocha among several other products.
At Starbucks, all our products are targeted at bringing maximum satisfaction to the client as the satisfaction of the client is our major concern. These carefully prepared products are served at our various cozy coffee shops where our customers can sit down to unwind with friends or family or just relax alone while being taken care of with exceptional customer care services and our polite staff who are concerned about your satisfaction.
The potential for growth is huge, and the possibilities endless! There are several coffee businesses offering a wide range of services. This is buoyed by the fact that the demand for coffee products is on the rise and the entire coffee value chain is aided by this trend. Customer behavior has evolved over the years, with an increasing number of clients preferring coffee businesses which offer value-added services over traditional coffee shops who are strictly concerned with business. To compete effectively, it becomes necessary to innovate on new marketing strategies which will serve as an incentive in attracting clients.
There are several coffee businesses which serve as our competitors. These offer a wide variety of services in a bid to attract patronage. At Starbucks, we are not only involved in building a solid brand through the offer of highly innovative and superior services but also take note of the little details which are often overlooked by our competition. These details are highly effective in building customer trust and loyalty. Also, we have a research department which is constantly trying out new and innovative ways of providing improved services to clients.
Our marketing team has vast experience in effective marketing strategies which have successfully applied over the years. These set of professionals study every new marketing trend closely and look for better ways of implementing same in our business. We attach high importance to our workforce as incentives are regularly given to them to increase their level of commitment. Also, our remunerations are among the highest in the industry. This has seen an increase in the number of highly skilled and experienced people working with us.
We understand how important marketing is to the success of every business venture including ours, which is why we are leaving no stone unturned in using the most effective marketing strategies to drive sales to our business. The internet is an important tool for spreading the word about our services. Therefore, apart from our website which holds information about our services, we will also be making use of social media channels to increase our visibility. In addition to the above strategies, we will run paid adverts in electronic and print media channels as well as mounting billboards in strategic locations to attract the needed attention which will impact on sales.
We will not forget using an age-old marketing strategy which still remains as effective as it has ever been; word of mouth marketing! This is an important medium of marketing which we will exploit through the provision of highly satisfying products and services and encourage our satisfied customers to spread the word about our services.
We have used available data obtained through research conducted by us to arrive at a 3-year financial projection which sees us achieving a strong revenue growth which has been summarized in the chart below. It is necessary to state that the effects of unforeseen circumstances such as natural disasters have been discounted in arriving at these figures;
- First Year $400,000.00
- Second Year $700,000.00
- Third Year $1,200,000.00
This is our sample Starbucks marketing plan executive summary meant to show what every well-written marketing plan executive summary should contain. It is necessary to state that for a business to get the funding it requires from investors, then this document must be properly written and tidied up, as chances are that a business with a properly written marketing plan executive summary is likely to succeed.