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The request consists of providing a 5 page, apa format, double spaced, times new roman strategic marketing plan for starbucks as pointed out by the outline given below. In addition to your word document, you also need to provide a short powerpoint summary of the word file you delivered (approximately 5-6 slides, excluding the cover and reference page). Follow the request below and make sure that each question is clearly answered. The professor is very strict and papers which do not follow the guideline and do not provide quality answers will not be accepted as they will result in a failing grade. The goal of your marketing plan is to create a strategic plan providing direction for what you believe the company should do over the next three years regarding the growth strategy identified in the attached document. The following should be addressed Targeting & Positioning StrategyWhat is the targeting strategy employed by the company, what is/are the current segments targeted by the company, and should the company change its target market strategy or the segments pursued? Support your answers.
What is the current positioning in each targeted segment and what is your recommendation for next year?
Marketing Mix Strategy – use all the elements in the attached document to complete the following:ProductAssess the current product portfolio strategy (single product, line, multiple lines) and make a recommendation for next year.
Assess the current brand strategy and alignment with positioning. How should the brand continue to develop brand equity and loyalty?
PriceDoes demand seem to be elastic or inelastic and why? What is the current pricing strategy in each targeted segment and should pricing be changed?
What competitors have similar strategies and what other possible threats should the company consider?
What impact to you believe your pricing decision will have on profitability and sales?
PlaceWhat is the current distribution network strategy and what would you recommend for next year? What competitors have similar strategies and what other possible threats should the company consider?
PromotionHow is promotions used throughout the various stages of the purchase decision process? What recommendations do you have to improve efforts?
How is promotions used to suggest similarities and/or differences between brand and competitors? How do competitors promote?
What would you suggest be an appropriate measure of promotion effectiveness?
What percentage of the annual budget is used for IMC and what would your recommendation be for next year?