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Hi Nishta

,
Please change these words and try to keep the theme as Emarketing strategy of Starbucks.
Please bold all the references used in this text, so i can
make referencing at the end.
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MARKETING STRATEGY:
A marketing strategy identifies (1) a firm’s target market(s), (2) a related marketing mix—
their four Ps—and (3) the bases upon which the firm plans to build a sustainable
competitive advantage. A sustainable competitive advantage is an advantage over the
competition that is not easily copied, and thus can be maintained over a long period of time.
Starbucks and Dunkin’ Donuts are appealing to different target markets, and they are
implementing their marketing mixes—their four Ps—in very different ways. In essence, they
have very different marketing strategies. Although both stores’ customers seek a good cup
of coffee and a pastry, Starbucks is also attempting to reach the customer who wants a
coffee-drinking experience that includes a nice warm, social atmosphere and personal
“baristas” to make their esoteric drinks. And people are willing to pay relatively high prices
for all this. Dunkin’ Donuts’ customers, on the other hand, aren’t particularly interested in

or overarching. They want a good tasting cup of coffee at a fair price. firms can sustain their advantage. and they want to get in and out of the store quickly. establishing a sustainable competitive advantage is the key to positive long-term financial performance. all advantages will be eroded by competitive forces. their competition in the area would match the reduction. When the wall is high. and boost profits for a longer time. other stores in the area could do the same. it will be hard for competitors outside the wall to enter the market and compete for the firm’s target customers. just because a firm implements an element of the marketing mix better than competition. . Establishing a competitive advantage means that the firm. ■ Product excellence: Having products with high perceived value and effective branding and positioning. ■ Customer excellence: Focuses on retaining loyal customers and excellent customer service. in effect. strategies that focus on aspects of the marketing mix to create and deliver value and to develop sustainable competitive advantages. Thus. Building a Sustainable Competitive Advantage: There are stores and restaurants that sell coffee and pastries in every neighbourhood in which there is a Starbucks or a Dunkin’ Donuts. There are four macro. builds a wall around its position in the market. but by building high. If they introduced a peppermint swirl cappuccino for the holiday season.the experience. minimize competitive pressure. Over time. If Starbucks or Dunkin’ Donuts lowered their prices. ■ Locational excellence: Having a good physical location and Internet presence. thick walls. ■ Operational excellence: Achieved through efficient operations and excellent supply chain and human resource management. and many of these have great coffee and pastries. it doesn’t necessarily mean it is sustainable. Thus.

THE MARKETING PLAN: Effective marketing doesn’t just happen. therefore we are providing details about their approach for recognising themselves as globally corporate social responsible firm though their corporate website. whereas discussion is required to check what are the benefits of using social media networks and other applications for marketing Starbucks products. marketing objectives and strategy specified in terms of the four Ps. and projected or pro-forma income (and other financial) statements.Figure 1: Marketing strategy of Starbucks Based on these information. the competition. The three major phases of the marketing plan are planning. implementation. and their customers by creating a marketing plan. Firms like Starbucks and Dunkin’ Donuts carefully plan their marketing strategies to react to changes in the environment. A marketing plan is a written document composed of an analysis of the current marketing situation. . and control. opportunities and threats for the firm. the main consideration for this project is to assess the electronic marketing approach of Starbucks. action programs.

and how they expect to do it. Other stakeholders. Sellers can now reach out to the masses and/or to their target audience in the most economical but effective manner through e-Letters or e-Newsletters. in conjunction with other top managers. targeting. such as investors and potential investors. E-Marketing Tools for attracting customers: One of the tools of e-Marketing is Emails or e-Letters. and positioning (STP). Finally. Salient features of E-mail marketing E-mail marketing is the most effective and economical E-marketing tool to convey the message on a mass scale. In the implementation phase. A marketing plan entails five steps. snail mails have been replaced with Emails. firms do need such a document. With the establishing of electronic marketplace. the planning phase. also want to know what the firm plans to do. It is important that everyone involved in implementing the plan knows what the overall objectives for the firm are and how they are going to be met. marketing managers identify and evaluate different opportunities by engaging in a process known as segmentation. It is not always necessary to go through the entire process for every evaluation. both in and outside the organization. For the second step. they evaluate the situation by assessing how various players. the control phase entails evaluating the performance of the marketing strategy using marketing metrics and taking any necessary corrective actions.Although most people do not have a written plan that outlines what they are planning to accomplish in the next year. a firm could evaluate its performance. define the mission and/or vision of the business. For instance. A written marketing plan also provides a reference point for evaluating whether or not the firm met its objectives. then go directly to conduct a situation audit without redefining its overall mission. Some of the salient features of E-mail marketing are: . It supersedes the traditional method of communication to market a product or service. The traditional style composing a letter and posting incurred higher cost and was time consuming. They then are responsible for implementing the marketing mix using the four Ps. affect the firm’s potential for success. marketing executives.

article or other updates to the customers. Easy: Sending an e-mail is easier than sending regular mail. It helps in giving the customers valuable information that makes them want to read the short newsletter. Cheap: Almost any message one decides to send to their customers via snail mail can also be sent via e-mail. This definitely ensures big savings especially for the business sectors like banks. . It is something that will position the bank in the mind of its customer as an expert. One does not have all the hassle of writing a long letter. Inform dynamically: It helps the users to know about the new changes and Developments adapted by the bank for ensuring a better service to the customers.Fast: Unlike the letters posted through postal mail. E-mail marketing is especially great if a bank has time sensitive offers. 2002). a festive offer. This type of regular communication reinforces the bank’s position as an expert in financial dealings and does wonders at keeping its customers loyal. one avoids the printing. if a bank ever plans to move. which deal with many customers. E-mail is a great format for sending out a weekly or monthly tip. posting etc. its customers receive it immediately. bonds etc. like a special rate of interest for deposits or loans. An e-newsletter with interesting articles can provide that level of contact. too. when one sends an email. Advantages of e-newsletters Some of the prominent advantages of using e-newsletters for marketing are mentioned below: Branding: A bank can gain brand recognition by regularly keeping its name in front of the customers or clients. having a solid list of its customers' e-mail addresses allows the bank to make the move with minimal interruption to its customer base. and postage costs. In addition. “The ease with which buyers can spread the word about a firm has spurred a new type of buyer activism” (Varadarajan and Yadav. materials.

By the time they reach their destination. But how does the bank know which readers are interested? For example. a bank/company may want to offer additional products and services. Newsletters allow a company to communicate throughout the year and e-newsletters with comment" capability let readers know that they can maintain a dialogue with the company. allowing for the inclusion of the latest developments. Product development: . with an e-newsletter. print newsletters are published quarterly while an e-newsletter to goes out as frequently as every week. On the other hand. Proactive marketing: Between transactions. Short lead-time: Print newsletters can require several weeks to be put together. an enewsletter can be prepared. there's not much news in them. as well as begin new associations with prospects and referral sources. That can turn a cold call into a warm call.Typically. printed and mailed. There is no need to juggle the copy to fit into the available space. and the companies/ banks don't have to deal with printers or mail delays. banks have better chances of building relationships with its clients. provide feedback and ask questions. a bank can focus its energy approaching certain readers about a service if it finds they have consistently opened articles on the subject. It is nurtured by developing and maintaining relationships so that customers or clients know you care. In contrast to this. Year-round contact: Loyalty isn't built strictly through billable transactions. Timesaving: It takes quite a long time to put together and distribute a print newsletter. By allowing readers to interact through two-way communication. the production and distribution time is slashed because many steps are eliminated. which reinforces the brand image. Two-way communication: The best e-newsletters allow readers to request services. formatted and updated right up to the moment it is sent.

Internet based e-Marketing Strategy tools: Following are the key internet based e-marketing tools that can be used for advertising products over internet such as: Corporate Organisation Website: This tool can be used by organisation for advertising all their products and facilities available in their stores to attract customers. these are advertisements that pop up. There are different types of social media networks such as Facebook. As you click from one page to another. the Web page being viewed. You will see a popupright away but will probably only become aware of a pop-under after you close your browser window. They open in a new. Twitter and Linkldn. These websites can provide members and free voucher services to loyal customers. or under. . you are shown this advertisement before the next page is shown. Sometimes. smaller window. Map Advertisement: A map advertisement is advertising placed within the online mapping solutions available. Social Media Networks: These are the most popular tool used nowadays for advertising and publicity of different products. in order to attract more customers. but audience annoyance means that there are now “pop-up blockers” built into most good Web browsers. Online tracking that reveals what article or topics are read is a basic market research. such as Google Maps. you are able to close the advertisement. Interstitial Banners: Interstitial banners are shown between pages on a Web site.A bank can gauge readers' interest in certain products and services before deciding to launch them. These were very prominent in the early days of online advertising. Pop-Ups and Pop-Unders: As the name suggests. This can be problematic as sometimes a Web site will legitimately use a pop-up to display information to the user.

but there are thousands of social networking websites out there. Chastaine. Using internet's network groups (such as Facebook and Twitter) to network and communicate between consumers and businesses Social networks are compiled from profiles and/or connections. Internally social networking can be used as a tool to observe how information within an organization is being exchanged. there are websites devoted strictly for chefs. Using social contacts to network. new or old to ignore the trends of communicating through social networking would be a large mistake. A business. One can find a social networking website to suit almost any interest imaginable. music lovers. Profiles consist of an individual or businesses personal information and/or experiences such as. and explicitly by actual members of the social network themselves. keeping these figures in mind the imagined potential business interest seems limitless. their background. (Carfi. Ignoring the trend could possibly lose businesses potential clients. they can also be a tool within an organization. 2011).Wallpaper Advertisement: A wallpaper advertisement changes the background of the Web page being viewed. interests or affiliates. education. Connections consist of either implicit or explicitly obtained avenues. e-Marketing through social media networks: Social Networking is the interaction between a group of people who share a common interest. Today’s generation and upcoming generations are both familiar with and comfortable using social networking websites and are often their first choice in communication today. and many more. It is estimated today that Facebook and Twitter have a combined population of people and businesses of over 200 million. Usually. Implicitly an individual or business can gain connections by actions such as emails or telephone conversations. Currently the most popular social networking websites are Facebook and Twitter. it is not possible to click through this advertisement. auto enthusiasts. Social Networking websites are not only a great instrument for gaining the public interest in a company. sales or future knowledgeable employees that may help said company to excel. With this in mind a business can join a social networking website that is fine tuned to their particular business to generate interest by thousands who have a passion for the products or services that said business provides. .

If a company lacks the knowledge to start a social networking website then they will most likely need to hire either a knowledgeable consultant or staff member to set up the website. and after all isn’t the name of the game to be first? Businesses have been forced to change their marketing strategies from “selling” to “engaging” (Gordhamer. people generally want to feel engaged by a company instead of marketed to. One factor to keep in mind is that within a social networking site the individual or business that you associate with could potentially associate with someone you do not want to have direct ties with. Like many forms of marketing within a business. if a company does not have the appropriate technological knowledge to create the site. it can be a daunting task. Generally a person will chose to do business with a company that is a member of the same social network as them because the form of communication that they feel most comfortable using is what they will naturally gravitate to first. Although social networking websites like Facebok and Twitter are generallyset up to be user friendly. these are the people or organizations that agree to follow your business and have the permissions to write comments on your “wall” which is showcased for anyone who uploads and views your page. Another element to consider when deciding if social networking is right for your business is the fact that in using a social networking website you do not have full control over the content that is generated from the website. 2008). There are downfalls to social networking that should be considered before a company makes the decision to invest the time and money from their marketing budget. 2001).Gaining knowledge into how ideas are surfacing may help a company see how. 2009). Social networking websites have tools that are called “friends” or “followers”. who or what is responsible for the changes within an organization (Carfi. potential clients can then in turn look at whom your business is associated with which can be good or potentially bad if . Social networking sites aren’t always reliable. If a company allows an individual or business to be there friend. Another argument in favor of social networking is the vast changes of how the public wants their information presented to them today. what you put in is usually a reflection of what you will gain but this is not always the case due to the lack of statistical information provided today. Chastaine. so a company is going to want to employ someone who has the experience as well as the patience to deal with the necessary trials that undoubtedly will occur (Bonfield. Social networking takes time and patience and there is not enough data generated as to the level of response a business will receive from the work.

Another consideration is the fact that an individual or business is limited to how the information is presented on the particular social networking website. 2008). if you have a design plan or vision in mind a social networking website may not be the best option for your company. a company is viewed as customer oriented and that they are willing to change to suit the needs of their clients. Many individuals and organizations will express their opinions in a good light. as a very useful tool to . A business also has to consider that the content within the site is not completely controlled by the said company. To wrap up the discussion of whether social networking is the right choice for a company it was discussed that social networking websites are a free tool to use. In answering and showing concern publicly to those who have expressed a bad experience. but today it only takes a matter of seconds to tell everyone you know of the bad experience (Gordhamer. Most social networking sites do not allow the user to chose the design or orientation of the content. but can be costly to set up and maintain if you aren’t knowledgeable with the technology. the fact that today’s generation has adopted it. In the past. when someone had an issue with a company or organization it would take days if not weeks to tell everyone they knew of the issue. which can be viewed as a good and or bad result. Of course it is understood that there is no way to respond to every comment that is delivered about your business but it will work in the best interest of your company if you show a concern for the disgruntled clients that undoubtedly will arise. The issue of opinion based comments are a two way street. 2009).the associated “friends” are controversial to your causes (Bonfield. Regardless of the decision to use social networking. With the accessibility of the web today it is very easy for anyone with a computer to express his or her opinions with little to no allowance for editing. but on the other hand there will be some that express their complaints and this criticism circles back to the subject of time management and having an experienced individual that is on hand to handle the comments as they arise. A final issue to consider when deciding if social networking is right for your business is the factor of unwanted criticism that can potentially get uploaded to the World Wide Web. keeping up with the change in times is a key to the marketing success of a business. Criticism from such websites are also a great tool for a company to use in making the necessary changes that will arise with the changing of your target audience.

communicate with is unarguable. With the right tools and planning social networking can become an extremely valuable tool for a business today. .