Marketing Plan Essay Example | Topics and Well Written Essays - 500 words

Marketing Plan - Essay Example Starbucks recognizes itself as a family destination. It has been offering milk and hot chocolate for kids but of late, the company has recognized a growing market segment in teenagers. The teens even now walk in and indulge in 16-ounce Frappucinos that contains a high dose of caffeine (Linn 2007). Since there is a family destination and since teens frequent the stores, they must have products suitable for the age group. Moreover, McDonald's and Denny’s offer high quality coffee menus. To counter competition and to stay ahead of competitive tactics, Starbucks needs to be ahead of competitors. The company, by introducing innovating products for the new segment, could offer products that are healthy for the teens. This objective would be in line with their corporate vision of being a family destination. Moreover, one of their guiding principles in their mission statement is â€Å"Develop enthusiastically satisfied customers all of the time† (Kembell, Hawks, Kembel, Perry a nd Olsen 2002). SWOT and risk analysis Before introducing the product for the new target segment, SWOT analysis would help determine the risks involved. Strengths Global Coffee brand, strong reputation and good products and services It has 17,000 stores in 49 countries Focus on quality and experience rather than on price Strong brand image and a considerable market share.