Business Planning at Starbucks Business Plan

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Figure 1. Representative Starbucks' Logo

Source: Hoots, 2010

Starbucks' Pricing Strategy

The company's pricing strategy varies from country to country (Andrews & Chompusri, 2003) but generally speaking, Starbucks uses a sales-oriented pricing strategy based on careful market research and customer analyses to identify pricing levels that the majority of their consumers are willing to pay for their products (Dawson, 2013).

Product Life Cycle of Starbucks

The company's product life cycle has expanded significantly over the past 45 years to include the wide array of products and brands noted above; however, when the company opened its first store in Seattle's Pike Place Market in 1971, the company only sold packaged roasted coffee beans (Roos, 2013).

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The company has also made three unsuccessful sorties into the publishing world as well, including efforts to sell books and publish its own literary magazine (Roos, 2013). The life cycle of these Starbucks' products are set forth in Table 1 below.

Table 1

Product Life Cycle for Starbucks

Introductory Stage

Growth Stage

Maturity Stage

Decline Stage

Limited distribution of product line (roasted coffee beans only)

Increasing rates of sales due to addition of brewed caffeinated beverages.

Saturated markets mean slower growth in product sales.

Not yet reached......

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