Thursday, October 17, 2019

Market plan task 2 Essay Example | Topics and Well Written Essays - 1500 words

Market plan task 2 - Essay Example Based on the company and the current position, it is clear that Starbucks has a strong product profile and the company is very ethical and has also developed products to meet the needs of the children as well. Keeping in mind the current interest in healthier lifestyles, the following recommendations can be made to the company for their marketing. Also a detailed explanation of the marketing mix has also been provided below. The recommended strategy for the company is to develop product extension. Here the company can effectively introduce new products to the current menu. The main aim and target audiences here are the younger customers. Hence the company can introduce the products to meet the needs of these individuals. The following details in the marketing mix helps provide a better understanding on the inclusions that the company can make to their menus as a product expansion. Product: In terms of the products, the company needs to focus on introducing new kid size drinks. These drinks need to be less caffeinated, less sweetened and also need to met the health norms. The products should be available in low calories for young adults below (Hakansson and Waluszewski). Since it is clear that healthier options like fresh fruit juices or other nutritional choices will not help the customers stay away from the high calories (Rudelius). Hence here the company can take an initiative by introducing the same products however with low fat and calories for the children. Place: In terms of place, the company can continue to use the current place for the children as well. Here they can however also include a more appropriate setting and environment for the younger audiences (Jobber). This will help keep up the current environment of the adult audiences and will also provide the younger customers with a more appropriate place (Hakansson and

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