Project Background
Every business has their operating environment and employs different promotion approaches. Each company aspires to make profits, and this is substantially determined by the promotional strategies a company executes. Successful execution of a marketing plan relies on a robust knowledge of the operating environment. Half the American population consumes coffee beverages on a daily basis. Among famous sellers of coffee is Starbucks. Starbucks has registered reduced sales lately. Among the causes for their reduced sales is poor marketing strategies. This research intends to scrutinize this problem and give recommendations.
Business has long recognized the importance of having information concerning a market (Kok, Hillebrand, & Biemans, 2003). These days, the market and customers are evolving becoming more complex and challenging. As a result, the traditional method of imitating a marketing plan based on its previous success no longer works. Starbuck prefers building their coffee brand by promoting it on the cup. The advertisement on the cup ends once the customer has finished drinking their coffee hence little chances of attracting more customers.
Project Objectives
The primary objective of this research is to understand the market in regards to customers’ attitudes towards Starbucks Coffee. In other words, the research determines what promotion methods Starbucks should use to interest customers. Specifically, the purpose of the study is:
1. To provide a comprehensive assessment of the market and current trends in promotion practices.
2. To develop a classification method for easier constraint identification in marketing modeling.
3. To review consumers preferences in regards to a few promotional strategies.
4. To recommend which marketing practice can be successfully executed at Starbucks.
Project Scope
To address the purpose stated above, this research will be a primary research. As preferred, qualitative method of research will be used. Patton (2005) says that focus group technique is recommended if you need a range of opinions.
Focus Group Qualitative research
The study does not follow the traditional group of people closed in a room but rather through random selection on the street. The targets will be six to 12 people of different gender from within the Starbucks market. In-depth interviews will be conducted on these individuals focusing on the product or service at hand. The response is then scrutinized to see their knowledge of the product, and how previous promotion products have made them know of the product or service. Interviews will be rather short for about ten to fifteen minutes. Respondents will be awarded a little token for their participation.
Project Execution and Management
This company will take care of all the costs that will be incurred during the research. This includes developing research, model, recruiting respondents, conducting the actual research, Analyzing data and representation of the findings. Data presentation will be in the form of word and PowerPoint presentation.
Project Timeline
Step: Duration
Assessment of the market 20 days
Development of a comprehensive model 15 days
Review customer preferences 30 days
Implementation of the recommended strategy 15days
Starbucks has marketing strategies that only rely on customers loyalty or ethical consideration of the company. Among other problems, the company reduced sales points towards poor marketing. Proper information from the customers and good marketing strategies can improve the company sales and to some extent deal with the issues of losses in the business.