Retail Strategy - The Starbucks Way

The new retail strategy (2008+) for Starbucks comprises the following 6 initiatives:

1 | New Espresso Machines

Product development & technology upgrades

2 | Ethically-Sourced Coffees

Societal marketing & responsiveness to key target markets

3 | A Social Media Strategy

Innovation and adoption of new communications/ engagement platforms.

(See this post about 100% free loyalty program)

4 | A Customer Rewards Program

Great customer service: The clever bit about is that it isn't about 1 free coffee in 10 visits or something stupid like that; it is free milk types/ syrups with ANY drink, and it is for REGISTERED members only.

5 | Improved Brewed Coffee

Continuous product improvement

6 | Acquisition of the Clover Brewing machine

Buying out a key supplier & some vertical integration.

Your homework:

Compare your strategy to that of a former benchmark company that is responding to changing markets.