Friday, November 1, 2019

Brand Analysis Essay Example | Topics and Well Written Essays - 1000 words - 1

Brand Analysis - Essay Example After a few years, Starbucks completely redefined the American coffee shops. High priced Brews, Lattes, Moccachinos, Cappuccinos and Frappes awakened the senses of 50 million customers across the globe (Burks, 2009, p.01). The company was formed in 1971, in Seattle. It was an initiative of a group of three friends-Gordon Bowker, Jerry Baldwin and Zev. Initially, the store was named as ‘Starbucks coffee, Tea and Spices’ (Burks, 2009, p.01) and the brand logo depicted a chocolate brown colored two tailed mermaid (Gilbert, 2008, p. 13). Later, the name of the store was changed to ‘Starbucks’ and its logo was re-colored to bright green. Starbucks was initially formed with the motto of selling good coffee with a unique flavor that a regular coffee brand wouldn’t offer. After the company was listed in the National Association of Securities Dealers Automated Quotation (NASDAQ), the growth of the company accelerated and it opened 16,680 stores across the glob e. Today, it has become a global brand with its footing in 47 countries around the world and its net revenue reaching over $ 10 billion (Burks, 2009, p.06). Most of the consumers associate a brand with its logo, which reminds them of the brand promise that an organization makes. Brand Promise of a company is an attempt to make a promise for the benefits of the customers, conveying it and then delivering the promise through their products or service (Pringle, 2008, p.103). The brand logo should be very distinctive. Either the concept of the logo should be unique or colors used in the logo should be vibrant enough to attract the customers. Starbucks remained true to its vision and its promise to use the best quality beans. Consumers generally prefer Arabica beans over Robusta coffee beans. Arabica coffee accounts for 75% production of coffee beans all over the world (Burks, 2009, p.07). Brand Personality refers to a set of human like attributes associated with a particular brand. Bran d personality enhances the appeal of the brand to the consumers. Most of the consumers associate a brand to a person’s character; it can take the form of an actual person, animated figure or generalized person (Gelder, 2005, p. 41). Coffee consumption in America was not as high as in Scandinavia. From the 1990’s the American coffee market scenario completely changed when Starbuck’s redefined the coffee houses. The European Coffee houses were traditional and had an old charm to it and a warm atmosphere. Starbuck stores were modern and hip, offering variety of coffees including hot and cold beverages, fancy decoration, positive and uplifting environment and an access to Wireless Local Area Network connection (Strehle & Cruickshank, 2004, p.03). They connected with the requirements of customers. As the customer’s taste and preferences change, the company tries hard to introduce new flavors of coffee which suits the taste buds of the consumers (Rakocevic, 201 1, p. 13). Brand Value helps in differentiating between right and wrong. The brand values provide a perspective on how the company is expected to act towards its consumers. When a company expands its network in other countries, the original values are hard to retain because different countries have different cultural values and ethics (Gelder, 2005, p. 37). Starbucks’ success can be attributed to a strategy that focused on different sets of value drivers rather than on three big competitors: 1. Quality instead of quantity; 2. Restaurants instead of grocery stores; 3.Close

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