Starbucks Competitors |Marketing Management| Week 4 Discussion Question |Westcliff University
Starbucks Competitors :
For the week 4 DQ of Marketing Management I need to review one article that will support as well as justify my arguments that I am going to present on my CLA1 assignment. The article that I have chosen for the purpose of explaining the competitive analysis is “Starbucks competitive analysis”.
The main purpose of this article is to provide in depth analysis of the operations of the Starbucks Company along with its competitors. The article describes the different strategies carried out by the company to position it better among the competitors and also further highlights on the 4 P’s of the Company.
An important aspect of the article:
This article interprets one of my Course learning Outcomes i.e. Competitive analysis and Key marketing components like 4 P’s as well as corresponding marketing strategies. This article emphasizes understanding how the strategy adopted by the Starbucks Company for maintaining quality and diversification helps it to compete for its existing and upcoming competitors(Mcdonalds(fast foods) and Dunkin donuts, costa coffee) in the market.
Marketing Strategies applied by Starbucks Company
- Quality and diversification providing specialty coffee
- Concentrating its outlets at one point
Starbucks Competitors Analysis
4 Ps of Starbucks Company ( As compared to its Competitors)
Major Products: Coffee and Cereals
Coffee = Medium
Cereals = Medium
Coffee = Low
Cereals = High
Coffee = High
The price of the Coffee is placed low intentionally without compromising its quality which makes it hard for the competitors to survive in the market. They focus on quality products of coffee beans and coffee drinks supporting a better coffee chain in the market.
Price of the cereals in a placed medium which will compensate for the price of coffee.
They have their venture along with the coffee shops around fifty countries (including the United States)with so many outlets as they are making efforts to ensure that their products are reaching the right place at right time in the right condition (Robinson, 2018). Also selling their products online and concentrating their outlets at one point for reaching the customers. Almost covered all the coffee market, coffee houses, and the coffee industry as well.
Promoting at both national and international levels. Among various promotion strategies adopted by them, one of their promotion strategies includes allowing people to taste their coffee.
Article supporting my Arguments:
This article that I have selected clearly explains the competitive analysis, various marketing strategies adopted by the Starbucks company. Along with emphasizing on 4Ps used by them and the implementation of the various marketing concepts which are directly related to our CLA1 assignment where we are required to prepare a competitive analysis and marketing strategy for any product.
Findings and Conclusion:
Competitive analysis is an important tool that helps in identifying the current as well as potential competitors in the market. Therefore, analyzing the competitors’ strengths and weaknesses allows the company to make better marketing strategies. It also helps in better positioning their brand in the customer’s mind gaining a competitive advantage as a whole.
Starbucks Company announced or used various marketing strategies against its main competitors. The competitors were Seattle’s Best and Folgers because to better position its brand in customers’ minds. Along with these the 4Ps of marketing .i.e. Product, Price, Place, Promotion allowed in comparing it with the competitors and making proper strategies for sustaining in the long run.
Competitive analysis of Nike and Adidas
Robinson, R. (2018, June 13). Starbucks Competitive Analysis. Journal of Business and Economics.