Essay: Successful survival of Starbucks
The globalization and innovation has given a tough time to businesses in order to sustain themselves in the competitive markets of the present century. It has become essential for every business to formulate and implement useful strategies to cope up with the increasing competition. In doing so, marketing planning and strategies play a vital part in nourishing businesses’ functions and boosting the performance of its departments. One such flourishing organization is Starbucks, which has tried hard and smart to ensure its successful survival in the corporate world.
Starbucks has, since its beginning, stood in the line of world class leading companies in the industry. It has been operating in the cereals and coffee manufacturing industry and has countered many ferociously competitive firms. Now, it stands with a large market share in the industry and earns billions of dollars in its revenues. The brand of Starbucks has also become one of the most popular brands in the world. Due to the implementation of sophisticated and aggressive growth and expansion strategies, the company has helped itself diversify and function in broader prospects.