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Essay / Research Paper Abstract
This 3 page paper identifies several potential long term goals for Starbucks, including increasing revenues and profit margin as well as increasing the appeal to younger target markets. Outline strategies and presented with a rough implementation plan. The bibliography cites 5 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEstarlong.rtf
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Unformatted sample text from the term paper:
the company can be turned around. In order for long term strategies to be developed the current position of Starbucks needs to be considered in order to determine long term
objectives. One of the first long term objectives that should be considered is linked to profits. Starbucks has seen a general increase in the profit levels, mainly due to
international growth in the most recent years, with profit margins declining, the net profit (measured as earning before tax) margin was 12.5% in 2005 (Starbucks, 2008), since then it has
been declining with the net profit margin was 11.2%. The first long term objective is to increase the net profit margin to 12.5%, as the same time as increasing the
profit level by 15% per annum over the next ten years. The firm also needs to remain competitive. One of the difficulties it has faced is a difficulty connecting
and attracting younger coffee drinkers and creating a core target market within the younger market (Schilling, 1996). Therefore, the second long term objective is to become the preferred coffee house
establishment for the age group of the under thirties, by increasing the differentiation of the firm and the attractiveness to that market. The long term objective is that there will
be an increase in this target market without detracting from older consumers and that by the year 2011 the customers under thirty years of age should account for 35% of
the total sales. Customer loyalty is also very important in terms of the long term well being of the firm, therefore the long term goal is to increase loyalty
with the average customer visiting the company at least twice a week. 2. Strategic Analysis and Choice In order to reach these objectives the company need to increase
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