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Is Chelsea Over? Starbucks Has Arrived—artnet News

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Starbucks Corporation is the famous American coffeehouse chain and coffee company. The company was established in Seattle, Washington. The company is operating in over 30,000 locations across the globe. Starbucks is usually known for representing the “second wave coffee” also called as dark roasted coffee. However, Starbucks uses automated espresso machines for coffee making to increase efficiency and employees’ safety. The company believes in creating connections with its customers by providing best quality coffee in the town (Starbucks, 2020).

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Starbucks promotes and grow its business across the globe. The different marketing tools can help the company with growth and marketing techniques.  Ansoff  matrix is the tool promoting growth strategies in combinations of products and market Starbucks is operating. The matrix helps the company in selecting the appropriate growth strategy for the future expansion of the company and revenue or market share growth. Here is the detailed  Ansoff  matrix analysis of Starbucks .

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Ansoff Matrix
Existing Products
c
Q)
Z
O
Market
Penetration
Market
Development
New Products
o
Product
Development
Diversification
z
INCREASING RISK

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Market Penetration Starbucks as accompany aims to offer the same experience across all their store They have develop an app which means that customers can order and pay via app, this means that for the customer if  is much more efficient as they can avoid queues thereby making the process quicker and more efficient. Starbucks sell their coffee beans not only within their stores but also, they have started selling through other avenues. Example: supermarket The company also offers customized services to customers, such as allowing them to get their names written on their coffee. In each of these cases, the intention is to promote sales in the existing market.

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Product Development Starbucks  launches  new flavored pies, cookies, sandwiches, and also premium flavors of coffee regularly. It launches seasonal treats as well such as pumpkin  pie. Premium coffee beans is another version of coffee that they developing They have also made sure to provide a range of milks for dietary requirements and also hold caffeinated and decaffeinated option,

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Market Development Starbucks is operating across the globe and continuously expanding itself in the new markets where it was not present before.  Recently, it started its operation in Middle East regions like Kuwait, and Asian countries like China.  Starbucks adopt this strategy as it earns great profit from every country it is operating

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Diversification Starbucks already has hold over the complete supply chain of its products from farmers to consumers and has little room for vertical integration. However, it can work on horizontal diversification.  Starbucks  has plans in place to launch a new food range to diversify through new products in new markets.  The  meals will be served at Starbucks as a part of the coffee house regular menu. This will attract consumers to visit Starbucks for breakfast, lunch, and dinner.

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