Starbucks Brews a New Marketing Mix

This assignment will help you in understanding the marketing process and consumer behavior.

LEARNING OBJECTIVES:
1. Describe the external impact of the environment on a Starbuck’s.
2. Identify factors in the marketing mix and why the equilibrium price has shifted.
3. Understand the impact of developing a strategic marketing plan.

PREPARATION ASSIGNMENT: Start by reading Chapter 11 if you have not already done so.
STEP 1: Re-read the opening story on pages 268, 269, and 292. Starbucks is adjusting its marketing strategy and taking a risk.
Step 2: Answer the questions below: List all of the questions in order, bold them and then place your answer below each question in regular type. Please left justify and remember to double-space. Remember to include definitions for each business term that you use and use “Key Terms” from your book (page 294). I expect that you might want to not only quote your book but also other outside sources. Snoop around and see what has been written on this topic out on the Internet. You might surprise yourself and find a lot of information that you can use for this assignment.
1. What forces in the external environment are influencing the changes in Starbuck’s marketing strategy? Explain.
2. How are the components of Starbuck’s marketing mix being used for implementing market strategy?
3. What are the main factors favoring success for Starbuck’s crossover into the affordability market?
4. What prominent factors suggest major problems or even failure for this crossover attempt?
5. Applying this chapter’s definition of product value to Starbuck’s plans, what are the benefits in Starbuck’s affordability offerings? What are the costs?
6. In what ways, if any, does Starbuck’s plan for closing some existing stores and opening fewer new ones have any impact on the product value of its new affordability products and its more-established luxury products?
Step 3: Write an opening paragraph. You are now ready to write your opening paragraph which will set up the reader of the paper by letting them know what you will be discussing.
Step 4: Write the closing paragraph. You are now ready to write a closing paragraph. In this paragraph you need to summarize your findings. Remember in both the opening and closing paragraphs you need to use the “Key Terms” and provide definitions (only if you have not already done so in another part of your paper) for each business term that you use.
Step5: Name, class, and date. You do not need a cover sheet but make sure that your name, class, and the date are in the upper left-hand corner of your paper.
Step 6: Go over the rubric. Before you turn in your paper you will want to go over the Rubric one more time to assure yourself that you have not missed anything. As the rubric outlines my expectation for inclusion in your paper using the rubric as your guide for writing your paper will assure that you earn a better grade.
Step7: Put your paper together. You are now ready to put your paper together. The first thing I should see when I get ready to grade your paper is your paper. Next comes the “Works Cited” page(s), and after that you should have attached a copy of the Rubric so that I can grade your assignment.

 
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