Starbucks Marketing Plan
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Strengths
Creating and analyzing strengths and weaknesses is essential when creating innovative products for a business. The new innovative products that Team A has come to a decision to create are the original Starbucks Peanut Butter Cup Frappe with Crepe or Waffle to go. The new products for the younger generation contain such ingredients as, chocolate, and peanut butter introduce together for the peanut butter cup frappe, cream cheese or raspberry for the crepe, and with whipped cream and powdered sugar. A company looks at strengths and weaknesses internally in analyzing the companys resources and qualifications. When the company is analyzing the external influences, the company looks for threats and opportunities. The external influences are, clientele, market environment, and competitors.
Strengths
The strength for the new peanut butter frap, crepe, or waffle are the ingredients. The ingredients are easily manageable for the consumers at a reasonable cost. An additional strength for the Starbucks new products is that new ingredients can be found in local bulk stores using the companys current resources. Hiring additional staff or purchasing special equipment will not be necessary. Reason is, the company can purchase items, such as peanut butter, crepes or waffles from bulk stores, such as Costcos and BJs for less.
Weaknesses
Nevertheless, bringing innovative products can have weaknesses. Although Starbucks has several sites in the United States, Starbucks also has a rising amount of opponents, such as supermarkets, restaurants, and additional mom and pop cafe shops who advertise beverages for children. However, product pricing at Starbucks is much higher than the majority of mom and pop cafe shops. Therefore, childrens beverages are on the premium beverage list at Starbucks. Acquiring a higher price for the childrens beverage menu can be a weakness. Reason for this is parents see the higher price on the childs menu and may see this as an outrage and will not spend money on such beverages.
An additional weakness is the peanut butter ingredient found in the frappe. Peanut butter is a favorite with children, the taste is good, but the peanut butter can give fourth a potential allergic reaction to some children. Acquiring this ingredient in the new peanut butter frappe may keep some parents away from ordering this new childrens beverage.
Opportunities
Opportunity within the new Starbucks products allows the organization potential in fulfilling every consumer needs. Creating such products not in the present within the existing marketplace can aid in bringing in new clientele with rising profits. Creating these new products would congregate the needs of customers and their children. The selling points