Starbucks Competitive Analysis

Starbucks Competitive Analysis - Starbucks Competitive...

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Starbucks Competitive Analysis 1 Sarah Bellin April 17th, 2017 Starbucks Competitive Analysis Professor Bayer
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Starbucks Competitive Analysis 2 History of Starbucks Starbucks started off small and local, just like any other small coffee shop. Starbucks was founded by two teachers, and a writer who were inspired by another popular coffee brand; Peet’s Coffee. In order to better understand the market of the coffee industry one of the founders worked for Peet’s Cof- fee to learn the trade, and to understand how to own a business. The three founders were extremely pas- sionate about the success of their coffee shop and determined to make it successful. “The company was a single store in Seattle’s historic Pike Place Market. From just a narrow storefront, Starbucks offered some of the world’s finest fresh-roasted whole bean coffees. The name, inspired by Moby Dick, evoked the ro- mance of the high seas and the seafaring tradition of the early coffee traders.” Starbucks. (2017) One of the biggest changes in the company’s history is when Howard Schultz became CEO in 1987. Shultz’s ac- quired the job of CEO not by climbing the corporate ladder but rather by a trip he took to Milan, Italy. Shultz was inspired by the attractiveness and coziness that was these coffee shops. Upon returning to America, he was now inspired and had a new vision for Starbucks. Shultz met with the owners of the company pitched his idea of an inviting, relaxing coffee shop with more than just the espresso. After years of trial and error, Starbucks Coffee Company now is the leading coffee retailer in the world. One of the main goals of Starbucks is to establish the company as the premier vendor of the finest coffee in the world but to also keep to core values they set for themselves in the very beginning. Starbucks wants consumers to choose them as their preferred coffee shop. “From the beginning, Starbucks set out to be a different kind of company. One that not only celebrated coffee and the rich tradition, but that also brought a feeling of connection. Our mission to inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.” Starbucks. (2017) Starbucks entered the scene in 1971 it has surpassed com- petitors, a changing economy, and significant changes in technology. Starbucks has continued to stay rele-
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Starbucks Competitive Analysis 3 vant; it does all this while staying true to its core values. “We make sure everything we do is through the lens of humanity – from our commitment to the highest quality coffee in the world to the way we engage with our customers and communities to do business responsibly.” Starbucks. (2017) Monopolistic Market
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