Starbucks Description

In: Business and Management

Submitted By lillina
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1. Starbucks Corporation is an international coffee and coffeehouse chain based in Seattle, Washington. It is the largest coffeehouse company that buys, roasts, and sells whole bean specialty coffees and premium specialty coffee drinks through an international chain of retail outlets. Inspired to the Italian espresso culture, it was started by Howard Schultz in 1985 and has impressively grown in the past 20 years form the first shop Il Giornale to the existing 5,688 outlets in 28 countries. The company is organized into two business units that correspond to the market segments: North America and International.

The main guidelines of the business have always been commitment to aggressive expansion, the refusal of sacrificing “long-term integrity and values for short term profit” and the idea that the stores are the biggest source of advertising (1% of annual revenue is devoted to advertising, against the 10% of other retailers). This strategy has permitted to Starbucks to be one of the fastest growing companies in the world: the company’s net revenues increased at a compounded annual growth rate of 20% , to $3.3bn in 2002. The business mission is to provide the finest quality coffee (the Exclusive Supremo Bean) “while maintaining uncompromising principles”. Starbucks achieves this by a high grade of vertical integration, (in 1992 Starbucks outbid European buyers for the Narino Supremo Bean) supported by strong relationships with the countries they export from, by the Starbucks-everywhere approach, that is a deep geographical penetration (even if this means 30% decrease of the sales of a nearby shop), by multiple channels distribution (stand-alone shops, set up cafes in hospitals, banks, shopping centers, office, hotel and airlines coffee supply), increasing brand extension characterized by carefully selected joint ventures (packaged and prepared teas and coffee,…...

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