Abstract
As retailing is the customer-based business and easy to observe, standing in this area will be a good view to see the wisdom of business management to change the world. After choosing retail coffee industry as topic, by which Starbucks represented, we will have two major contents to see the knowledge and the insight of business management and industry development research based on Starbucks business model. They are project selection and analysis of Starbucks involving industry development. The Starbucks business model analysis involves product management, customer relationship management, culture and brand management, and ethical marketing and corporate social responsibility. There are still some risks imbedded in the business model. Risks should be estimated and evaluated in advance, whilst project managers need to follow risk mitigation strategies.
Highlights
All on-premises, off-premises, and online sales of hot, iced, and instant coffee, as well as sales of coffee beans and ground coffee, are included in the retail coffee business [1,2]
Since goals of project include ensuring client satisfaction and meeting financial objectives within a specified budget, this article will focus on marketing management of Starbucks, which includes product management, customer relationship management, culture and brand management and ethical marketing and corporate social responsibility
Social media is a component of Starbucks' customer relationship management, since they use websites such as Twitter and Facebook to socially interact with its users
Summary
All on-premises, off-premises, and online sales of hot, iced, and instant coffee, as well as sales of coffee beans and ground coffee, are included in the retail coffee business [1,2]. As of the end of 2019, the worldwide coffee market is expected to expand at a 5.5% compound annual growth rate over the following five years. The European market is one of the main destinations for speciality coffee [7,8]. Coffee is a commodity, but many European businesses are promoting it as an artisanal product [9]. Even traditional roasters have jumped into the retail coffee industry, with offerings that are even more particularised for their customers [13]. This tendency has contributed to pricing disparities and has proven difficult for exporters because of the market segmentation
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