The paper “ Marketing Plan for Starbucks Children Products" is an affecting example of a research paper on marketing. This report entails a situational analysis of Starbucks. Under this, both the external and internal environment of the company will be analyzed in relation to marketing children and teenage Starbucks products. The marketing plan is aimed at coming up with new beverage drinks that are friendly to children and teenagers; create an experience that will attract children and teenagers to the business, and clearly communicate the values and commitment that the company to their new customers (Payne and Frow 25). Objectives To come up with new drink sizes that better meet the needs of young children and teenagers.
To recognize that some of their customers are less than 18 years and hence they must also be catered for. To create a Starbucks experience that makes children and teenagers come for coffee, stay for the ambiance and environment and return for the connection. To clearly communicate the values and commitment of Starbucks business to its customers, instead of only growth plans publicized in the media. SWOT analysis StrengthsThe company is good at taking advantage of opportunities; currently, products available to children are limited to milk and hot chocolate in smaller quantities, while teenagers have a choice of consuming adult products which often heavily caffeinated beverages.
However, smaller sized Starbucks lattes will attract more teenagers. Starbucks is a highly profitable company and has a strong financial base which automatically necessitates the company to undertake new business ventures. For this matter, Children market is worth for the firm. The company is internationally recognized and has a global presence. Its reputation is inclined to find products and services.
This image will help the firm’ s new products enter and gain market in the marketplace. The company has a strong brand that is widely recognized, in fact, it is a preferred brand across various countries within which the company operates. Many of the Starbuck customers are loyal to the brand thereby building a strong customer base. In line with this, children products will considerably have a market share specifically from children of parents who are consistent customers The company is also a disciplined innovator; for instance, it understands the adapt-or-die theory of marketing.
Consequently, it has a vast ability to roll out new products relatively quickly which translates into a considerable competitive advantage. The company has the potential of venturing into the children market. Clusters of company units; this has strategically positioned the business to expand with regard to the ever-increasing growth of the coffee market especially in areas where the company is already established. In addition, the focus on opening stores that has convenient access for pedestrians and drivers will ensure the access of children to these shopping malls (Allison, http: //www. msnbc. msn. com/id/20608492/ns/business-retail/t/starbucks-rethinks-stance-young-customers/) WeaknessesThe company relies on beverage innovation which makes it vulnerable to a possibility that their innovation may diminish over time and cope up with new demands from children and teenagers will be a problem.
Also, if the US stores decrease stock is lowered in value.