Saturday, February 22, 2020

SMEs Marketing Strategy Case Study Example | Topics and Well Written Essays - 3000 words

SMEs Marketing Strategy - Case Study Example First, the availability of improved marketing intelligence has facilitated planning. Second, utilization of the computer and various mathematical models has made an impact. Third, managements are becoming more scientific and organizations are now more complex with a broader diversity of products. Fourth, business outlays are larger and risks are often greater, all of which factors necessitate planning. The company was opened in Washington in 1971. Its founders were jerry Baldwin, Gordon Bowker, Alfred Peer. Howard Schiltz joined Starbucks in 1982 and proposed a new marketing mix: the idea was that the company should sell coffee beans and espresso drinks on the national scale. In two years, Starbucks expanded its business and bought Peet's. In 1987, Starbucks opened its first outside store. Since 2000, Starbucks expanded its global presence and opened new stores around the world. Today, Starbucks has 8,505 stores worldwide. The company states that its mission statement is more than a strategy approach but a philosophy of the company. The mission is to "establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow" (Starbucks Home Page 2008). . While this freedom from any constraints may be attractive, it also creates challenges in tackling segmentation and targeting issues. One approach in this situation is to start with an examination of consumer motivations and goals in using a product category as a basis for identifying gaps in marketplace offerings. This consumer insight is the basis for developing a product or service that addresses unmet goals. Starbucks illustrates this approach. When Starbucks was conceived, coffee manufacturers were focusing on the rational benefits of their brands such as the superior taste attributable to a particular growing process as a way of competing in a declining market. In contrast, Starbucks created a coffee-based experience in which the range of preparations and atmosphere of the stores encouraged customers to view having a cup of Starbucks as a way of indulging themselves. In essence, Starbucks targeted people seeking an indulgence experience rather than simply coffee consumption (Starbucks Home Page 2008). Strategy and Success Factors Success of Starbucks is based on its unique approach to product mix and brand. On a more everyday level, Starbucks has built a powerful experiential brand. Starbucks stores are much more than a place to purchase a jolt of java (Starbucks Strategy n.d.). They offer a brief reprieve in a hectic day; a chance to inhale the rich aroma of fresh coffee and listen to relaxing music, while tasting a rich, specially prepared brew in the company of like-minded coffee addicts. One hallmark of the Starbucks' experience, and any great experience really, is consistency. Delivering a consistently good experience is a challenge in the retail coffee business. Making a consistently high-quality caf latt, for instance, requires, first, brewing two ounces of coffee. Starbucks' guidelines require this to be drawn in 18 to 23 seconds at 90 degrees Celsius and 9 bars of pressure to produce excellent espresso (Starbucks Home Page 2008). Second, the milk must be steamed to 160 degrees Fahrenheit. Most

Thursday, February 6, 2020

Saudi Arabia Country Profile Research Paper Example | Topics and Well Written Essays - 1250 words

Saudi Arabia Country Profile - Research Paper Example The Saudi Arabian political spectrum is led by an absolute monarchy which is founded upon the principles of Islam. In the Kingdom of Saudi Arabia, the king is both the head of the government as well as the head of the state. It is relevant to public relations professionals to note that crucial decisions relating to the country, to a large extent, are formed only after consulting with religious leaders and senior princes of the royal family. Quran, the holy book of Islam, is considered to be the constitution of the country and the KSA is governed by the Islamic law Sharia. It is a key point to note that Saudi Arabia is an absolute monarchy even though the king is also required to abide by Sharia and the Quran according to the Basic Law of Saudi Arabia accepted by the royal decree in 1992. Quran and the Sunnah (the traditions of Muhammad) are central to KSA’s constitution and both remain subject to interpretation left to the powers of ulema, the country’s religious establishment. Neither political parties nor national elections are permitted in the country and the royal family dominates the government. According to the Democracy Index prepared by The Economist, Saudi Arabian government was rated as the seventh most authoritarian government among the 167 countries chosenii. Currently the Saudi government is led by the monarch King Abdullah bin Abdul Aziz. Saudi Riyal is the currency of KSA. Saudi Arabia’s economy is greatly dependent on its oil sector, and hence the country’s economy is often referred to as an oil-based economy. The Saudi government exercises strict control over its key economic activities. To justify its status as an oil-based economy, Saudi Arabia possesses nearly 18 percent of the world’s discovered petroleum reserves and the country has a dominant role in OPECiii. Currently Saudi Arabia is the world’s largest