This article consists of 24 pages and 6734 words. In order to have full access to this article, email us at thedocumentco@hotmail.com
Ref No: 1322
Contents
Marketing Planning – Starbucks
Motivation and Rationale of Study. 5
Significance of the Research. 6
Application of Current Research in the Modern Era. 6
Chapter 2 – Literature Review.. 8
Introduction to the Chapter. 8
The Introduction to Marketing Planning and Its Importance. 8
Introduction and Importance Marketing Strategies. 9
Theories and Models Related to Marketing Strategies. 10
The Impact of Marketing Strategies on the Brand Equity. 12
The Impact of Marketing Strategies on the Sales of the Company. 13
Effect of consumer behavior on marketing strategies: 14
Chapter 3 – Research Methodology. 17
Ethical Consideration of the Study. 19
Limitations of the Analysis. 20
Chapter 1 – Introduction
Introduction
Marketing Planning – Starbucks: The core aim of the research is to study the marketing planning of the Star Bucks in detail. Star Bucks is a multinational coffee shop operating in almost every region of the world. There were many factors which contributed to the success of the business. Some researchers highlight that the marketing strategy of the Star Bucks is one of the most prominent reasons behind the progress of Star Bucks over the years. The first chapter of the dissertation discusses the background to the research, motivation and rationale for the research, research objectives and research questions and significance of the study. Lastly, the chapter discusses the application of current research in the modern era and highlights how it can help the companies and academic literature.
Background of the Research
In the view of Homburg, Kuester and Krohmer (2013), the marketing planning of an organization is important to study the causes behind the success of an organization. Often, the role of marketing strategy is very important in the development of the organization but it is not credit accordingly. The effectiveness of marketing strategy is highly dependent upon the marketing planning of the company. The marketing planning is very broad and it covers all the aspects starting from identification of need, product design to the promotion of the product. The Star Bucks is one of the leading coffee restaurants around the globe and it is considered that the effective marketing planning played a visible role in the progress of the company at initial stages and still plays a significant role in the sales generation and customer retention of the company (Ferrell and Hartline, 2012).
According to Pickton and Broderick (2001), the marketing planning or marketing strategy of a company does not only define the promotions but these cover different aspects primarily including the 4 Ps of marketing. The marketing plan considers the strategy that will be used to identify the customer need and design the product accordingly, price the designed product, place it as per the convenience of the target market and promote the product to create awareness and satisfy the targeted customers. In the view of Doyle and Stern (2006), the focus of marketing strategy, in the beginning, is to identify the customer needs and select an appropriate need where the company wants to tap the market.
Once the company has been able to identify the needs, wants and demands of the target customers, then it is important to communicate and deliver the communicated value to the customer in the form of a product or service. As the product has been delivered, then the focus of marketing strategy is to collect the feedback from the customers and build the relationship with them. The relationship building is an important step to make the customers long-term customers.
Motivation and Rationale of Study
The rationale behind conducting the research on marketing planning of Star Bucks is that arguably it has one of the most effective marketing strategies around the globe. Star Bucks has progressed well due to numerous factors primarily including their innovation and satisfying the customer needs over the years. There are several factors which motivate the researcher to conduct this study. Firstly, the increasing appetite of companies towards marketing and promotions have motivated me to conduct this research study. Secondly, it is forecasted that marketing will play an even greater role in the society in future as compared to what it is playing now; it also motivates the researcher to conduct this research. Lastly, the researcher has a personal interest in the field of marketing which has motivated him to conduct the research on the topic as it will enhance his knowledge in the related field as well.
Research Objectives
Every research aims to achieve certain aims and objectives; the objectives of the current research are as follows:
- To study the marketing planning by Starbucks.
- To understand the importance of strategic marketing planning in the creation of a brand and its overall brand equity.
- To recognize the practical implications of different marketing principles.
- To study the importance of advertising in the growth of a business.
The objectives stated above need to be achieved by the course of this research.
Research Questions
The research questions to be answered by this research are as follows:
- How are the marketing activities planned by Starbucks?
- How important is strategic marketing planning in the creation of a brand and overall brand equity of the organization?
- What are the practical implications of different marketing principles in the modern era?
- How important is advertising in the growth of a business both short-run and long-run?
Significance of the Research
The research has got great significance for the researcher, companies and other readers interested in expanding their knowledge regarding marketing …
Recent Comments