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Starbucks Corporation Strategic Plan
Executive Summary
Starbucks Coffee Company was founded in 1971, when it opened its first location in Seattle’s Pike Place Market. It operated as the solitary Starbucks outlet until 1984 and became the world’s leading retailer, roaster and brand of specialty coffee with coffeehouses in North America, Middle East, Latin America and the Pacific Rim.
• Starbucks use market development and product development strategy that allows them to practice a form of concentrated growth by identifying new uses for existing products, new demographically and geographically defined products.
• Starbucks conducted joint ventures approach to increase globalization and recognize future success.
In 1992, Starbucks became Public Traded Company that issues stocks to the public and also formed a joint venture with Sazaby, Inc. In 1996, Starbucks and Dreyer's Ice Cream introduced Starbucks Ice Cream and became the number one brand of coffee ice cream in the US. Starbucks also formed the North American Coffee Partnership with the Pepsi-Cola Co, which began selling Starbucks Frappuccino blended beverage. Starbucks acquired Tazo, a Portland, Oregon-based tea company and Hear Music, a San Francisco-based music company.
Starbucks entered into a licensing agreement with Albertson's, Inc and TransFair USA to market that sell Fair Trade Certified coffee and introduced Commitment to Origins coffee range. In 2001, Starbucks introduced coffee-sourcing guidelines developed in partnership with The Center for Environmental Leadership in Business. Starbucks began to offer high-speed wi ...