For ESSAYSTAR - Product Management Concepts

Length: Please write your response in essay format and/or point form as appropriate and limit your response to 4 pages using 1.5 line-spacing. Assessment: This part of the assignment will be assessed using the following criteria: Comprehensiveness Depth of insight and analysis Rationale/support for the conclusions drawn Go to the Internet and log onto Starbucks’ website at http://www.starbucks.ca. At the bottom of the home page under “About Us” read about the company’s heritage, company, and investor relations (overview). Go back to the top of the home page and review the products, menu offerings, and the responsibilities of the company. If you have an opportunity visit a Starbucks store. (This is not necessary to successfully complete this part of the assignment.) Now answer the following five questions: In spite of heavy competition from other coffee retailers in the marketplace, Starbucks secured the largest market share. What five factors do you think accounted for Starbucks’ success in securing its market share? (10 points) Using marketing concepts, terms, and information from this module, describe Starbucks’ product strategy of in terms of: Product concept: core, actual, augmented, and potential product. (8 points) Product line: width, length, depth, and product line strategy. (12 points) Describe and evaluate the branding strategy for Starbucks. What are the main advantages and disadvantages of this strategy? (5 points) Given Starbucks’ growth all over the world, how would you recommend they organize their marketing effort (the structure of the people) for managing existing products and developing new products? (5 points) In your opinion, what stage of the product life cycle are Starbucks’ products? What makes you think so? What are the marketing mix implications of being in this stage? Discuss product strategy, pricing strategy, distribution strategy, and communication strategy implications. (10 points)