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Marketing Essay

4035 words - 16 pages

Principles and Practice of Marketing in Course Assignments 2013/2014BA (Hons) International ManagementYear 2Student Name:Hajah Siti Fatimah AbdullahStudent Number:N3165295Module:Principles and Practice of Marketing2013/2014Module tutors:Jill RossTable of Contents Page No.- STEP Analysis of the External Environment 3Key Implications - Taken from STEP Analysis 41.1. - Political Factors 41.2. - Economic Factors 61.3. - Socio-Cultural Factors 91.4. - Technological Factors 112.1. - Target Customer Profile - Starbucks 123.1. - Marketing Analysis 173.1. - Product 18 3.2. - Price 22 3.3. - Place/Distribution 233.4. - Promotion 264.0. - SWOT Analysis 275.0. - Conclusion 286.0. - Reference List 29Analysing the EnvironmentThis PEST analysis is used to give an overview of External factors which will or are affecting Starbucks market. This analysis considers the Political, the Economic, Socio-cultural and the technological factors and how they will affect the market itself and whether this is in a positive or negative way.Figure 1: PEST Analysis

Opportunities

Threats

Political

Certified for Fairtrade products all over the world. (Fairtrade Foundation, September 2009)

Political Instability caused by climate change and high coffee prices. (David Pohl, February 2011)

Economic

A survey highlighted that coffee shops is the top ten most promising businesses opportunities in coffee industry. (Ian Boughton, February 2012)

The rise in drinks products being launched by lower cost operators such as fast-food brands represents a threat to the industry. (Mintel, Oct 2013)

Socio-Cultural

Students and Faculty are the majority of coffee drinkers. (Bplans, no date)

Consumers become more price and value conscious with their changing lifestyles patterns. (Mintel, June 2012)

Technological

Technologies of vending machines allow selling food/drinks without the need for staff to assist customers. (Mintel, September 2012)

Expansion of internet access increased corporate visibility to which the company have to spend more in the latest technology. (BBC, November 2013)

PoliticalThrough Fairtrade, farmers can get better revenue for their hard work. This grants them to invest in the aspect of their coffee so they can pursue to grow high-quality of coffee. (Jonathan Smith, March 2011) In figure 1.1.1 below shows that coffee products make up the fastest growing every each year. (Coffee Statistics 2012 Edition) As the result of the fastest growing products, the farmers are getting worried as recently Fair Trade coffee producers faced several challenges because of the climate changes as they also made a statement that Arabica bean production could be cease in the next decade making most of the coffee shops in alarm. (Sarah Butler, January 2011) In figure 1.1.2. below shows that due to that several challenges, the wholesale prices worldwide are doubled. Climate changes are currently rocking coffee farming. (Minnich,2011)Figure 1.1.1.(ecoworld,no date)(Figure...

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