Starbucks Alternatives Essay Example for Free

Starbucks Alternatives EssayAlternatives Alternative 1 is to enclose existing products to fresh markets.Since Starbucks is already an established name, we know for a fact that people kindred drinking Starbucks coffee. However, cultural attitudes can be unlike around the world. This is an important fact since Starbucks is set on growing internationally. They will in like manner face different reception to Starbucks image and taste. Statistics show that there is pipe down a lot of opportunity to grow in new markets. These current markets represent significantly little risk than setting up overseas. This alternate(a) takes what Starbucks have so far and push it into unknown markets. This is quite an idle.Alternative 2 is to introduce late products to existing markets.To offer new products in existing stores would be less costly than setting up a new store in a new market. Immediately, new products will have the Starbucks brand image and this will help increase revenue bec ause of these new complimentary items. While Starbucks is still in its growth stage, it is questionable about investing time and bullion into new products in our current markets when people are still finding out about Starbucks. truehearted customers can also be upset at changes to the new offerings. This option is non very risky and will yield a return that is low.Alternative 3 is to introduce new products to new markets.This alternative is more risky than the previous two but is necessary if Starbucks is to expand in the long term. In order to increase revenue and grow as a company, Starbucks will have to reach different consumers. These may include people who drink different kinds of coffee, teas and other hot beverages. Since Starbucks is selling the Starbucks experience, they should seek to introduce new products to make that experience fit that specific culture. They can still keep some of their current menu offerings but have it tailored to the consumers. By having a dive rsified product offering, they will also spread their risk. For instant, if they started selling coffee beans from another country, these new beans could keep thecash flow coming in if another countrys beans were not acceptable due to weather conditions. However, the image of Starbucks can go both ways. Consumers may already have a preconceived notion of what Starbucks is about and will purchase or not purchase according to that. There is also risk that the current Starbucks image could be seen as untoward to current consumers if they think that the newer product items are of a poorer quality.