Starbucks Brews a New Marketing Mix
This assignment will help you in understanding the marketing process and consumer behavior.
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.
Things to remember:
? Your name, BUS 100 (your section), and the date appear in the upper left-hand corner of your paper.
? You have used proper business terminology, “Key Terms” from your book (page 294).
? You have proof read your paper to assure that there aren’t any typos, spelling errors or grammar errors.
? You have compared your paper to the Rubric to make sure that all questions were answered completely and that you have met the requirements.
? You have attached the “Works Cited” page.
? You have attached the Rubric at the very back of the paper.
This paper is worth 60 points total. Your paper will be graded on the following criteria:
5 The paper clearly has an opening statement.
3 1. The answer to question 1 identifies all of the forces in the external environment that are influencing the changes in Starbuck’s marketing strategy.
3 1. In the identification process key business terms are used.
3 1. Definitions are provided for each key business term used.
3 2. The answer to question 2 clearly identifies the components of Starbuck’s marketing mix that are being used for implementing strategy.
3 2. In the identification process key business terms are used.
3 2. Definitions are provided for each key business term used.
3 3. In the answer to question 3 all of the main factors favoring success for Starbuck’s crossover into the affordability market have been clearly identified and stated.
3 3. In the identification process key business terms are used.
3 3. Definitions are provided for each key business term used.
3 4. The answer question 4 identifies all of the prominent factors that suggest major problems or even failure for this crossover attempt
3 4. In process of identifying the prominent factors that suggest major problems or even failure for this crossover attempt key business terms are used.
3 4. Definitions are provided for each key business term used.
3 5. Question 5 is answered, fully supported, and has a clear statement concerning why this is your position. Your position should reference any “key terms” from the chapter and provide definitions for each term used.
2 5. In the second part of question 5 the answer reflects the costs involved using “key terms” and included definitions.
4 6. Question 6 is answered and fully supported with information found in the chapter using “key terms” and definitions.
5 The paper clearly contains a closing statement.
5 The paper contains a “Work Cited” page that includes the textbook and any other materials that were used for the purpose of researching this paper. Additionally, the “Works Cited” page provides evidence that research was done including authorities in the field of business.