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Starbucks: The Importance of Rebranding for Strategic Marketing Name (Student’s) ID Number (Student’s) Course Code Supervisor’s Name Date Starbucks: The Importance of Rebranding for Strategic Marketing (Total Word count: 16493) 1
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Starbucks: The Importance of Rebranding for Strategic Marketing Abstract Strategic marketing tools are important for companies when they plan to explore or penetrate new markets. This is especially the case for multinational corporations that intend on expanding into new foreign markets. The reason for this assertion is that each market is unique of its own, and as such, requires its own set of marketing campaign tools for the company to penetrate the new foreign markets, let alone consolidate its market thresholds. This is the same case that Starbucks coffee house faced when entering the Chinese market in 1999. The global coffee house giant has had a successful global expansion across the globe, and as such, command a reputable brand image not only within its domestic market in the US, but also across its other established international markets such as the UK and across Europe. Nonetheless, considering the market dynamics that shape each foreign market uniquely, it was imperative for Starbucks Corporation to reconsider its strategic marketing plan, and instead adopt the rebranding strategy. As such, the purpose of this research study is to establish the importance of the rebranding strategy as a strategic marketing tool to facilitate its entrance and penetration into the Chinese market, as well as consolidating its market thresholds in order to become a market leader in the Chinese coffee house markets. The premise of the research study is informed by the fact that China is the biggest international market for Starbucks outside its home market in the United States, and as such, the analysis centers on the effectiveness of the rebranding strategy adopted by the company in promoting its market prevalence within the Chinese market. The results obtained prove that rebranding is indeed instrumental in transforming the market thresholds of the company within the Chinese 2
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Starbucks: The Importance of Rebranding for Strategic Marketing international market, particularly with regard to market penetration as well as competitive edge. Keywords: Rebranding, Branding, Corporate Image, Corporate Identify, Cultural Values and Competitive Edge. 3
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Starbucks: The Importance of Rebranding for Strategic Marketing Table of Contents Abstract ....................................................................................................... 1 List of Figures .............................................................................................. 4 List of Appendices ....................................................................................... 5 Appendix 1: Questionnaire ....................................................................... 5 Appendix 2: Rebranded Starbucks coffee house in China ........................ 5 1. CHAPTER ONE: INTRODUCTION ............................................................. 6 1.1. Introduction ..................................................................................... 6 1.2. Background of the research study ................................................... 6 1.4. Rationale of the research study ....................................................... 9 1.5. Rebranding as a Corporate Marketing Strategy ............................. 11 1.6. Research aims and objectives ........................................................ 12 1.7. Research hypothesis ...................................................................... 13 1.8. Significance of the research study ................................................. 14 2. CHAPTER TWO: LITERATURE REVIEW ................................................... 15 2.1. Introduction ................................................................................... 15 2.2. Analyzing Starbucks Presence in the Chinese Market 16 2.3. Review of Current Thinking ............................................................ 24 2.4. Corporate Branding ....................................................................... 25 2.5.
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