Starbucks Coffee Make A New Friend.
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STARBUCKS COFFEE Make a new friend..
BRIGHT PAST
Established in 1971 In 1980 – Largest roaster of Coffee in Washington with 6 retail outlets. In 1992 – 165 stores In 1997 -1400 stores in North America and Pacific Rim. - Sales of US$ 967 million - Profit of US$57.4 million
And it continues.. In 2000-- No. of outlets in US reached 2200. Opened new stores @ 1/day From 2001 to 2004 --Starbucks opened on an avg 1200 stores/year. In 2005 --1700 stores /year -- more than 10,000 stores worldwide. In Early 2008 --15,000 stores in 40 Countries -- annual sales of $10 billion.
The Five Success Principles.. Principle One..
Principle Two
Principle Three
Principle Four
Principle Five
POINTS OF CRITICISM For impersonal services Design of new stores on the grounds that they lacked character. New decisions (hot food, installing new espresso machines) that limited the interaction between Baristas and Customers were received
REASONS FOR DECLINE Economic situation in the US Cost of opening new stores, distribution expense, raw material cost, fuel cost were touching new highs. Centre for Science in the Public Interest study claimed that stuff sold at Starbucks were as calorie rich as at McDonald’s. Government of Ethopia accused Starbucks of “ blocking trademarks protections for the names of the country’s top coffees”. Became its own competitor, with many stores in close proximity to each other.
CURRENT ECONOMIC POSITION Announced a net loss of USD$6.7 Million for the Quarter ended June 2008. This corresponds to a loss of one cent per share, as opposed to a profit of 2i cents per share recorded for the corresponding period in 2007. Net revenue grew 9 % in the quarter to US $2.57 billion. Announced to close down around 600 of its under performing stores in US and 61 out of 85 stores in Australia. Company’s stock fell to 14.55,losing around 50 cents.
INITIATIVES TAKEN TO OVERCOME 7100 stores in USA closed for three hours to relearn the art of coffee making hoping to increase motivation. Warm Sandwich removed from menu list to avoid interference with coffee aroma. Complete re-invention of brewed coffee in-store. Introduction of a loyalty program that would reward registered cardholders. Launch of mystarbucksidea.com
MEDIA FOR COMMUNICATION
Websites Feedback Membership Programs Personal Touch Schemes Sponsorship Events
COMMUNICATION PLAN
Contest CSR Activities Merchandising Using Social Media/Web 2.0 Use of Mobile Technology Spending a bit more on advt than before.
BRIGHT PAST
Established in 1971 In 1980 – Largest roaster of Coffee in Washington with 6 retail outlets. In 1992 – 165 stores In 1997 -1400 stores in North America and Pacific Rim. - Sales of US$ 967 million - Profit of US$57.4 million
And it continues.. In 2000-- No. of outlets in US reached 2200. Opened new stores @ 1/day From 2001 to 2004 --Starbucks opened on an avg 1200 stores/year. In 2005 --1700 stores /year -- more than 10,000 stores worldwide. In Early 2008 --15,000 stores in 40 Countries -- annual sales of $10 billion.
The Five Success Principles.. Principle One..
Principle Two
Principle Three
Principle Four
Principle Five
POINTS OF CRITICISM For impersonal services Design of new stores on the grounds that they lacked character. New decisions (hot food, installing new espresso machines) that limited the interaction between Baristas and Customers were received
REASONS FOR DECLINE Economic situation in the US Cost of opening new stores, distribution expense, raw material cost, fuel cost were touching new highs. Centre for Science in the Public Interest study claimed that stuff sold at Starbucks were as calorie rich as at McDonald’s. Government of Ethopia accused Starbucks of “ blocking trademarks protections for the names of the country’s top coffees”. Became its own competitor, with many stores in close proximity to each other.
CURRENT ECONOMIC POSITION Announced a net loss of USD$6.7 Million for the Quarter ended June 2008. This corresponds to a loss of one cent per share, as opposed to a profit of 2i cents per share recorded for the corresponding period in 2007. Net revenue grew 9 % in the quarter to US $2.57 billion. Announced to close down around 600 of its under performing stores in US and 61 out of 85 stores in Australia. Company’s stock fell to 14.55,losing around 50 cents.
INITIATIVES TAKEN TO OVERCOME 7100 stores in USA closed for three hours to relearn the art of coffee making hoping to increase motivation. Warm Sandwich removed from menu list to avoid interference with coffee aroma. Complete re-invention of brewed coffee in-store. Introduction of a loyalty program that would reward registered cardholders. Launch of mystarbucksidea.com
MEDIA FOR COMMUNICATION
Websites Feedback Membership Programs Personal Touch Schemes Sponsorship Events
COMMUNICATION PLAN
Contest CSR Activities Merchandising Using Social Media/Web 2.0 Use of Mobile Technology Spending a bit more on advt than before.
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