Starbucks Company Internal Strengths
Starbucks Company Internal Strengths
A few years back, Starbucks coffee company had lost its reputation after suffering a miserable loss from the rush to fast growth (Gertner, n.p). This lost footing had been useful as the company has now invested in research and design. R&D assists in obtaining relevant information for use in designing its business strategies. In order to sustain and improve its profits in the future, the company has to make proper use of its internal strengths to come up with profitable strategies.
Starbucks Company deals with customers whose taste and preference on coffee varies with time. This implies that the company has to invest in a highly productive research and development team. A research team would also require a strong and effective coffee drinker’s feedback system such that information about clients can be obtained at any given time (Gertner, n.p). This information will foster changes, improvements, or even modification of existing coffee brands or services. One strategy used in gaining customer tastes is the sensory preference map. In this map, coffee drinkers are classified based on their preference. This result to production and distribution of coffee based on the statistics provided by the preference map. The preference map can be review occasionally to gain new statistics and decide on production and distribution. Information from coffee drinkers through the feedback system will foster innovation.
Effective feedback system, a strong R&D team and sensory preference maps will result to precise provision of customer taste and preferences for coffee. As a result, more coffee will be consumed, and this will result to increased growth (Gertner, n.p). In 2011 when the sensory preference map was introduced, and new coffee brands named blonde resulted to annuals sales of $250 million. Projected sales for period 2013-2015 are higher given the presence of annual reevaluation of sensory maps, effective feedback, and a proficient research and development team to foster necessary innovations.
The company’s social responsibility engagement through “jobs for US program” has remarkable impact on the company’s reputation (Gertner, n.p). Owing to its high ranked reputation in creating jobs for Americans, Starbucks will become the preferred coffee company for coffee drinkers. As a result, the company will experience will experience increased sales as new people will become coffee drinkers to be associated with its success.
Works cited
Gertner, J. Starbucks: for infusing a steady stream of new ideas to revive its business. 2012. http://www.fastcompany.com/most-innovative-companies/2012/starbucks
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