Research Korner: Marketing Planning Process Samples

Marketing Plan of Starbucks Coffee Company

Marketing Plan of Starbucks To begin with, Starbucks Coffee Company has started its operation in North America; and since then, it is considered the leading roaster and retailer of finest coffee in the world market.  Starbucks has 931 retail branches; as well as 75 airport coffee stores across different countries. Relatively, the company’s main goal is to establish the coffee company with high standard   brand of coffee in the international market.  And, in order to achieve this objective Starbucks   has been continually   expand its retail operations, and its fastest delivery services; as well as its   specialty sales operations world wide.    In addition to that, the introduction of new products and the continuous development of new distribution channels have largely contributed to worldwide success of the company. In order for a company to   reach its peak of success; it must have a proper implementation and execution of a strategic marketing plan.  A proper positioning and identification of a target market are two of the important factors in promoting its products and services to the consumers effectively and efficiently.   In this connection, Starbucks has been able to   carry out its commercial success all over the years now through its marketing and targeting strategies; as well as through its competitive   environment.  At the same time,    the company has been able to transform its consumer experienced products and services into highly profitable business in the world.  (http://blogs.indews.com/business/starbucks_marketing_strategy.php) Furthermore, Starbucks always considers its wide range of employees as one of the most important assets of the company.  The company and its management believe that what ever the success of their business, it must be equally shared to the people behind it; and they are their employees who have been working dedicatedly for the company to succeed.    In view thereof, the company gives its all employees health care benefits package; as well as above minimum starting salary worldwide.   As much as Starbucks’ strong commitment to its employees’ well being, the company is even committed to its environment condition.  The company has been doing its best to be a big part of the environment-friendly communities which have serious concern to the safe product usage.  The company and its management always consider that the welfare of the people, factories, plants and products are linked relatively.  This is the reason that Starbucks   recognized worldwide as one of the coffee store in the globe that has   significant contributions to local charities   that support on children, the environment, the homeless as well as the AIDS victims. Financially speaking, Starbucks has been one of the solid companies in the world that has highest solid earnings and return of investments.   The company has been managing to continue healthy and competitive operations that expand its empire overseas.  In fact, Japan was the first Starbucks expansion outside of North America. And, eventually, it has still more plans to   open coffee stores and joint ventures in other countries.    (http://blogs.indews.com/business/starbucks_marketing_strategy.php) Aside from that,  Starbucks has been  significantly  competitive in the world market because of its  mission, vision and goals that provide high value  products to its customers;  and above anything else, when someone hears about Starbucks,  it only means  high quality gourmet coffee business.   One more important thing about the company, it has the unique differentiator strategy, which means that the company has individualized each outlet based on   its location and environment.  The company always thinks of the additional products that would suit to the culture of the environment of the consumers.  In the same manner the company focuses more on the increase of its profitability and return of investment compared to its contemporaries.  The company’s main objective is to strengthen its recognition world as the leading provider of premium beverages in the world.  And, another corporate strategy that the company has is the   acquisition that allows the company to purchase other competitors industry that will give Starbucks a great chance to increase its profits and gain market share.  Like what it did to Carbou Coffee Company Inc.; by acquiring Caribou, Starbucks can merge administrative and organizational costs into one.  In the same fashion, Starbucks has the ability to repositioning newly acquired   coffee business into   low-priced market scheme strategy; lowered than Starbucks.   In other words, the new company acquired has the potential to   gain higher revenues that can be generated and directed towards Starbucks being its parent company.  This is the reason that Starbucks has remained focused on   providing superior customer service products and services   with world class quality among its competitors in the world market.  Besides, Starbucks   has its unique competitive advantage over its competitors that allows the company to charge a premium for its world-class products and services.  (http://blogs.indews.com/marketing/Starbucks_Marketing-Strategy.pdf) References: (http://blogs.indews.com/business/starbucks_marketing_strategy.php) (http://blogs.indews.com/marketing/Starbucks_Marketing-Strategy.pdf)

Marketing Plan of Starbucks Coffee Company

Marketing Plan of Starbucks To begin with, Starbucks Coffee Company has started its operation in North America; and since then, it ...

Marketing Planning Process (MPP) of Burger King : Aiming for Growth

Burger King             The Burger King company was founded in 1954, by two marketing and financial entrepreneurs, James McLamore and David Edgerton. The strategy of the Burger King has been successful and by 1959 Burger King expanded and established five stores in Miami. Similar to other fast food pioneers, the Burger King founders sought to attract investors by giving away exclusive rights to large territories through franchise arrangements (Reiter 1996). Burger King like many multinational fast-food companies has a system. Franchise is one of the most important means of achieving volume growth in a largely saturated marketplace and it is increasingly associated with multinational expansion (Felstead 1993). Most large companies in the fast-food sector are operating under the ‘format’ franchise system. The format type of franchise is the most common among the fast-food companies today. In this system, the franchisor (Burger King) not only supplies the product, but also lays down precisely the rules and procedures that have to be followed by the franchisee within a set of detailed pre-determined procedures or format. The franchisee is in effect purchasing a carefully prepared ‘blueprint’, which minimizes the risks involved in setting up a conventional small business.   Operating Industry             Burger King operates in the fast food hamburger restaurant (FFHR) category on the quick service restaurant (QSR) segment of the restaurant industry. The quick service restaurant is the largest segment of the restaurant industry in the United States (Burger King: Annual Report 2006).   Competitive Environment             The fast-food industry in the United States is very competitive. McDonald’s is the industry leader while Wendy’s and Burger King are in constant struggle for the second place. The consumer food-service market is typically broken down into eight categories according to the type of food and restaurant operations. The categories are sandwich, pizza, chicken, grill-buffet, dinner house, contract and hotel. The fierce competition in the fast food industry is evident with the pace in which strategies are changed. Fast food restaurants are always on the look out for new strategies that will enable them to gain customers and market share. The two main domestic competitors of Burger King are McDonald’s and Wendy’s.   SWOT Analysis Strengths 1. Wide selection of menu items             Burger King offers different varieties of menu items and choices for the consumers. Through the many choices that Burger King provides, consumers can customize their orders. 2. Fast and efficient service             Burger King has a different process in order taking and preparing the orders of the customers. Unlike in McDonald’s where a single dine staff takes a customer’s order and prepare the foods for a single customer. Burger King has two separate stations. One is where the customers order and one is where the customers pick up their foods. This process of order taking and serving is considered very fas and efficient. A customer falls in line to make his or her order and to pay. He or she will be given a number and then will move down the line where he or she picks the order. 3. Innovative Products             Burger King’s distinct assets include the unique Whopper with its one of a kind charbroiled taste. The company also prepares the hamburger any way the customer wants it. In addition to the Whopper, Burger King also offers a few set items on its breakfast menu that differentiates it from its competitors. These include Croissan’wiches and French toast sticks. The rest of the menu also offered the unique Veggie burger and Chicken Ceasar salad.   Weaknesses 1. Weak Marketing Campaigns             One of the weaknesses of Burger King that I think contributed to its decline that started several years ago is its weak marketing campaigns. The company was not able to effectively communicate with the customers. The customers were also confused about the different advertisements of the company that are sometimes considered ‘eccentric’. 2. Inconsistent Quality             The consumer’s perception of the quality of the food items and the overall product offering at Burger King is poor. Many consumers view quality at Burger King as inconsistent. This is perhaps due to the inconsistency in quality standards and the poor maintenances of some Burger King stores.   Opportunities 1. Expansion             In the previous years, particularly in the year 2006 - 2007, Burger King embarked on an expansion strategy. The company started to be more active in its expansion programs. In fiscal year 2007, Burger King opened 441 new restaurants around the globe. Burger King also entered four new countries namely Indonesia, Egypt, Poland and Japan. The opportunity to expand is very promising and the company is experiencing initial benefits from its expansion strategy (Burger King: Annual Report 2007).  Threats 1. Intense Competition             One of the biggest threats to Burger King is its competitors. Burger King is considered as the second largest fast food chain next to McDonald’s. Burger King always finds itself in fierce competition with McDonald’s, Wendy’s. Hardee’s  and other fast food restaurants. The increased competition among rival companies is characterized by price wars, product innovation and growth strategies. 2. Consumer Health Expectation             There is a change in the consumer attitude and behavior that is considered a threat to most fast food restaurants. Consumers are becoming more conscious when it comes to health issues. Consumers are demanding quality, healthier menu items. Although Burger King has taken the initiative in introducing ‘healthy food items’ the need to be more committed to providing healthy foods to the consumer can pose a serious threat if the company fails to satisfy the demands of the consumers.             The restaurant industry is affected by consumer preferences and perceptions. If prevailing health or dietary preferences and perceptions cause consumers to avoid Burger King’s products in favor of alternative or healthier foods, Burger King’s business could be in danger (Burger King: Annual Report 2006).   Significant Items of Burger King             Burger King is one of the major quick service restaurants in the world. In terms of size and number of stores, Burger King ranks second, next to McDonald's. One of the significant items of the company is the Burger King brand. The company's Burger King and Whopper brands are two of the most widely-recognized brands in the world. Another significant item is the company's Have it Your way brand promise. Have it your way is one of the aspects of the company's business processes that sets it apart from its competitors. The customers are given more food choices. Another significant item is the company's innovative menu. The basic menu pf all Burger King restaurants consists of hamburgers, cheeseburgers, chicken and fish sandwiches, breakfast items, french fries, onion rings, salads, desserts, soft drinks, shakes, milk and coffee. In addition, promotional menu items are introduced periodically for limited periods. Burger King continually seeks to develop new products. Burger King focuses on product development and innovation. The company always aims to introduce innovative products in order to attract customers and to remain competitive. Another significant item is product quality. Product quality is important in attracting and maintaining customers.   Marketing Mix             Achieving a favorable position in the minds of the consumers and making the product or service attractive to the target market entails careful formulation of the marketing mix. Getting the right mixture of the product, promotion, price, and distribution is important in marketing. The goal of the marketing mix is to portray an image for the product or service that will match with how the organization wants the product or service to be visualized in people’s minds. Marketing mix according to Kotler (2001) is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. Product – The products or services of an organization help in creating an image of the firm in the mind of the consumer. This image is reflected in the customer’s perceptions and feeling about its products or services. The product is the element in the marketing mix that includes all of the issues surrounding the development of the product or service. Price – where market demand and the cost of producing the product or service come together and determines the profitability or lack of it. Promotion – Promotion is consist of all of the methods of communicating the product offering to the target market, such as advertising, publicity, and sales promotion. Place – Place is the task of getting the goods to market.   Recommended Marketing Mix for Health Conscious Consumers             Recently a new trend in the quick service restaurant industry is emerging. There is a steady growth of health conscious consumers. The reports highlighting the health risks of fastfood and the demand for healthier alternatives to these foods are both increasing. Because of these trend a new target market for Burger King has emerged. This market is health conscious whose majority is young with active lifestyles. In order to maintain its position in the industry and gain competitive advantage over its competitors, Burger King must seek to attract this new emerging market. Product – Burger King must actively engage in product development and must come up with food products that are of high quality and healthy. Price – Burger King’s products’ prices must remain competitive. Place – Burger King’s store must be redesigned in order to attract more customers. The stores must invite consumers from all walks of life. The stores must become Burger King’s tool for communicating its commitment to Food Quality, Service Efficiency and Health. Promotion – Burger King must seek to communicate its commitment to health to its consumers using different tools.     References All Hail the King, Burger King Annual Report 2006, Burger King, viewed 18 December, 2008,             <http://media.corporate-ir.net/media_files/irol/87/87140/BKCAR2006.pdf>.   A World of Growth, Burger King Holdings, Inc. Annual Report 2007, Burger King, viewed 18 December, 2008,             <http://media.corporate-ir.net/media_files/irol/87/87140/2007_AR.pdf>.

Marketing Planning Process (MPP) of Burger King : Aiming for Growth

Burger King The Burger King company was founded in 1954, by two marketing and financial entrepreneurs, James McLamore and Da...