Marketing Research- Starbucks vs. Coffee Beans Essay Example for Free

Marketing Research- Starbucks vs. Coffee Beans Essay Market segmentation is defined as the process of dividing a market into distinct subsets of consumers with common needs or characteristics and selecting one or more segments to target with a distinct marketing mix (Schiffman, Bednall, Cowley, OCass, Watson and Kanuk, 2001). Different companies have different abilities that enable them to serve their target market better, which is why some companies choose to focus much of their attention to specific segments. Starbucks primarily chooses to focus on the demographics, psychographics and lifestyle of their customers. It is with the information gathered regarding these segments that Starbucks can better serve its customers. Demographics are things such as age, sex, marital status, education, occupation and income. Starbucks targets both males and females, mainly 18-30 year olds, but really does cater for everybodys needs. And because young children dont usually drink coffee, Starbucks offers a range of non-coffee beverages to cater for the whole family. Hanging out in Starbucks gives the impression of being very with it and most of the people you see sitting in the stores exude a certain coolness and give off the image of having some sort of social status, with lots of money to spare. Starbucks customers are mainly in their final years of high school, in university or just starting to work. But whatever it is, they all have had a good education, and if they do have a job, it almost certainly includes a big income as well. Demographics help to locate a target market and this information is often the most accessible and cost effective way to identify a target market (Schiffman et al, 2001). Even though factors such as personality and behaviour are often first used to define a market segment, the consumers demographic characteristics must be known in order to assess the size of the target market and to reach it efficiently (Schiffman et al, 2001). Psychographics are based on the consumers activities, interests and opinions, so its basically how they spend their time, what their preferences and priorities are and how they feel about events and issues. Psychographic research is closely related to psychological research, and  especially when it comes to personality and attitude measurement. This form of applied consumer research has proved to be a valuable marketing tool that helps identify consumer segments that are likely to be responsive to specific marketing messages (Schiffman et al, 2001). Starbucks is very heavily involved in charity and the arts, and is making significant efforts to be a socially and environmentally responsible company. For example, Starbucks actively participates in AIDS benefits, and for every city that has a store, Starbucks sets up at least one shelter for the underprivileged children and donates money as well. By participating in various different positive causes and events, Starbucks gains a lot of favourable exposure. Starbucks has sponsored the Special Olympics, the hip Lilith Fair music festival, the Chicago Jazz Festival, the International Film Festival in Washington DC and the Museum of Contemporary Art in LA. Just by looking at these examples, we can see that Starbucks aims to target and reach people who are generous and charitable, as well as people who like to have fun and enjoy the creative and entertaining side of life. Starbucks also has a strong commitment to the environment and the companys policy to recycle and conserve wherever possible is exemplified by the 10% discount it provides to customers who reduce waste by using their own mugs or refillable coffee bags. Starbucks offers these discounts to help stimulate environmental responsibility amongst its customers. As Starbucks grows and reaches new markets, the company has made a commitment to continue to be a strong supporter of non-profit organisations and events in all communities. Consumer research has found evidence that within each of the social classes there is a constellation of specific lifestyle factors (shared beliefs, attitudes, activities and behaviours) that tend to distinguish the members of each class from the members of each class from the members of all other social classes (Schiffman et al, 2001). Starbucks sells a lifestyle, to both customers and employees, and has followed the successful examples of other big corporations such as Coke, Nike and Sony by linking its brand with all things cool and in. Starbucks has created a style and ambience that has infused a certain new  chic and appeal into coffee, an age-old beverage, making it the hippest drink of today. Starbucks chooses to associate itself with all things bustling, active and vigourous. That is why locations of all the stores are carefully selected for convenience and Starbucks specifically targets places that are heavy with pedestrian street traffic. Some of the places that you would find a Starbucks, either in the form of a large store or a just a small kiosk (both ideal for just popping in for a quick take away coffee or for a nice light lunch break) would be at shopping centres, airport terminals and supermarket foyers, which are all places that are always hectic and filled to the brim with people who have busy lifestyles and are always on the go. Starbucks competes directly against specialty coffees sold at retail through supermarkets, specialty retails, and a growing number of other specialty coffee stores. In addition, Starbucks competes for whole bean coffee sales with franchise operators and independent specialty coffee stores. In virtually every major metropolitan area were Starbucks operates and expects to expand there are local or regional competitors with substantial market presence in the specialty coffee business. But Starbucks biggest competitor in the coffee industry is the Coffee Bean. Coffee Bean was started by Herbert B. Hyman in 1963 in California and became the pioneers in retailing whole bean coffee and loose tea leaves. Coffee Bean are the oldest importers, roasters and multi retailers of specialty coffee and tea in the United States. Like Starbucks, Coffee Bean offers a diverse range of original coffee, ice blends and roast styles as well as four varieties of daily brews including flavoured pre-ground coffee. Another similarity with Starbucks is that Coffee Bean also has a large offering of food and beverages that appeal to all age groups from all walks of life. In terms of needs, motivation and personality, Coffee Bean is all about building meaningful and respectful relationships with customers by finding or concocting a flavour for them. Coffee Bean will also toast your bagels, heat your pastries and personalise and custom make the drink or blend just  the way you would like it. With perception, Coffee Bean is a big believer in teamwork (just like Starbucks) as they feel that success is achieved by working together. Coffee Bean staff are friendly, and maintain amicable relationships between customers and each other. The employees have respect for each others values, opinions and individual personalities and are honest and truthful to themselves and each other. Another similarity with Starbucks is that Coffee Bean is actively involved with helping communities and make it their mission to develop the most complete community based programs around. As well as donating gift baskets, gift certificates, coupons, coffees and teas, Coffee Bean will gladly consider a donation to any organisation for various charitable events that directly benefit local community programs and local schools. Due to the phenomenal growth of the international coffee market, Coffee Bean has decided to solely concentrate on international franchises at the moment. Unlike Starbucks, who have a target mass market being the United States, most of the Coffee Bean outlets are in Asia (Malaysia, Singapore, Brunei, Taiwan etc.) and the Middle East (Israel, United Arab Emirates, Dubai etc.) Unlike Coffee Bean, Starbucks does not personalise their coffees or have different products to suit different countries tastes. Coffee Bean offers more food meals (pastas, soups,) and not only light meals (sandwiches, pastries, desserts) like Starbucks. Starbucks allows other distributors to sell its coffee, but Coffee Bean does not and Starbucks is affiliated with things such as the Herald Sun Newspaper and Hear Music. And the main advantage that Starbucks has over Coffee Bean is its effective use of celebrity appeal, which is a form of reference group

Too Much Punch For Judy :: Drama

Too Much Punch For Judy Introduction During the past few drama lessons we've been studying a real life tragic play called 'Too Much Punch For Judy'. It is a play about two sisters (Judy & Jo) who decide to go for a drink one day. They meet two guys who buy them drinks. When they are ready to go, Judy suggests to Jo that she should drive home as she has had less to drink than her (however she is still over the legal limit). After some persuasion Judy agrees and throws Judy the car keys. As they drive back Jo pleads to Judy to slow down. However, Judy suddenly loses control of the car and crashes. Judy survives the crash, her sister Jo who is in the passenger seat dies. A man who has heard the crash from his house runs down to the scene, he rings the police. The police arrive and call for two ambulances. When two ambulances arrive Jo and Judy are taken away separately. At this stage, Judy is unaware that Jo is dead. At the hospital Judy consistently asks to see her sister, until the policeman finally tells her that her sister is dead. After reading the play, I immediately felt angry with Judy. I felt sorry for Jo and her family and perhaps almost for Judy. As the play was a true story the moral of the play 'don't drink and drive' struck me harder. The moral definitely gets across to me, and made me aware of the effects of drinking and driving. I thought the play was a good way of getting that point across. It gave young people, like my group and I, a chance to be put in that situation and to experience the feelings and emotions of an actual person in that predicament. Depending on how we deal with this we are able to make a choice whether it is the right or wrong thing to do. In this case, during a scene that I played Judy crashing and killing her sister, I felt scared at the consequences and extremely guilty. I would not like feel like that at any time. I have the power to control that, so that is why thanks to the play, I would not put my self in the same situation as Judy and feel it is the wrong choice to make. Response ======== Too much Punch For Judy allowed us to look into the effects of drinking and driving. It is a tragic piece of drama, however there are many scenes which exaggerated and comical, resulting in completely the opposite feelings to the inevitable tragedy of the play.

Impact Of The Sarbanes-Oxley Act

Supporters of companies going public suggest that gaining additional capital is one of the benefits medium sized companies gain by going public. The rationale for going public is to float the shares of the company through the stock market by starting an initial public offer (IPO) inviting the public to purchase its shares and raise additional capital. Once the company has met all of the requirements for filing Security Stock and Exchange (SEC) they are in compliance with SOX.Under SOX section 404, requires all CEO and CFO to certify and report to the public the effectiveness of internal control over the financial statements. Secondly, corporate social responsibility (CSR) is another benefit accrued by a medium sized company by going public through publication of it information. Aside from profitability, corporate social responsibility aids company to position ineffective market-based solutions to social. By CSR redirect negative problems caused by corporate operations onto the consum er and protecting their interests while hampering efforts to find just and sustainable solutions.The rationale of publishing company information is to give the company a platform to state its willingness to take into consideration the stakes of all stakeholders involved in its financing and operations. This increases public confidence in the company. Going public also benefits a medium sized company by increasing its competitive advantage in the global market. Going public is a strategic objective by some medium sized companies to become competitively aligned. Finally, gain competitive advantage all through expanded capital base and improved public confidence.Create an argument that the same goals may be achieved if the company remains a privately held entity. Provide support for your answers The opponents of public listing held that a company can acquire the benefits of going public while still being private and more efficient. For instance, Leuz (2007) asserts that a company can g ain additional capital through borrowing loans from banks as opposed to going public. Corporate social responsibility can also be obtained even for privately owned companies that actively engage in community advancement programs.In this way, the company meets the requirements of its stakeholders without exposing itself to public scrutiny and retains its ability to maintain a competitive advantage through internal strengths and enhanced customer relationship management (Dolvin & Pyles, 2007). The opponents of going public also hold that a corporation can devise ways of being strategically aligned while retaining its private status. For instance, a private company can make objectives that are strategically aligned to its vision and mission and narrow its market niche to serve the needs of its customers.This can be achieved through strategies such as being the least cost provider for commodities or emphasizing unique customer experience through the provision of quality products. This d isqualifies the perception that a company can only gain competitive advantage by going public (Li, Morton & Sonja, 2008). When a company decides to go public, it can typically obtain capital by issuing stocks or bonds. Suggest four (4) leading financial rations that will be evaluated and how each will impact the company’s decision to obtain expansion funds. Determine whether the results of the ratios would alter the decision to go public.Financial analysis serves as both a control and planning tool. Aids in making important company decisions obtain expansion funds and also on the decision to go public or remain private. Liquidity ratio illustrates the ability of a company to pay its accrued debt in the short term. A company with high liquidity ratios is not advised to obtain expansion funds through debt since it cannot pay up the already accrued debt. It would be advisable for such a company to generate expansion funds by going public since this increases the equity ratio and reduces the debt and liquidity ratios (Alrafadi, & Md-Yusuf, 2011).Activity ratio assesses the ability of the company to convert its assets to cash. When activity ratio is high, the company should go public since it already has liquid cash and needs to save up more of its finances through the floating of shares compared to borrowing cash. Profitability ratios assess the measures that organizations will use in making money. It mainly assesses the profitability of a company against the earnings ratio, and when this ratio is low, the company needs to remain private then go public since its profitability will not attract any investors (Alrafadi, & Md-Yusuf, 2011).Debt ratio is aimed at assessing what amount of the company capital structure constitutes debt capital. Where the company has a lower debt ratio, it means that it has more of equity than debt, which is a good state in a company. In this case, the company can borrow debt capital or go public to gain more funds as it has a stron g debt ratio. That it is essential to analyze the financial ratios of a company prior to deciding, whether to obtain more funds by going public (Alrafadi, & Md-Yusuf, 2011).By researching, the results of SOX compliance surveys assess the financial impact that SOX might have on your company if it decides to go public. Considering the impact SOX compliance, take a position as to whether your company can overcome the challenges posed by identifying the potential advantages and disadvantages that SOX may have on your company. SOX is a legal framework developed by the United States with the aim of increasing the accountability and transparency of listed companies, especially pertaining to the cost of going public.Transparency is one of the advantages gained by a medium sized company that uses SOX to go public. Structures put in place through SOX monitor the internal systems of the company, prevent failure, ensure accurate disclosures and improves the management of risk of the company. Th is enhances the transparency of the medium sized company and increases its credibility among the public and potential shareholders (Kaserer, Mettler & Obernberger, 2011). Going public with SOX also enhances the reliability of medium sized companies.The consumers and members of the public are able to predict the company’s behavior since the company publishes its accounts. Through transparency and improved public scrutiny, shareholders and other stakeholders such as customers are able to view the profit of the company, the prospectus and evaluate the ability of the company to meet their expectations in the future. The consumers can through public scrutiny develop confidence on the medium sized company going public via SOX, which increases customer base and profitability of the company (Litvak, 2007).Additionally, a medium sized company benefits from going public through SOX by enhancing investor confidence in the ability of the company to offer viable returns to investorsâ€⠄¢ investment. For example, an investor will be more confident in investing in a company that publishes its financial statements as a requirement of going public. This is because the investor will be able to view the profits of the company and its ability of the provide high returns on the investors capital. This benefits the company through investor loyalty and attracts more potential investors (Li, Morton & Sonja, 2008).Cost is one of the major negative impacts of SOX if a company goes public. For example, a company has to incur underwriting cost, which is a, direct cost for a company going public. The company going public under SOX also incurs indirect costs like under-pricing of its shares in the stock exchange (Wintoki, 2007). The Company also incurs legal cost since lawyers are needed to advise the company on legal consequences of going public. In most instances, the cost of a company going public through SOX outweighs the benefit of going public and may have adverse effects o n the company Leuz, 2007).Lack of secrecy is another adverse effect of a company going public through SOX. For example, a company that discloses its financial records risks sharing its strategic plans with its competitors, which robs the company the ability to remain competitive since its strategies and secrets are available for public scrutiny (Litvak, 2007). Moreover, involvement of external auditors is another adverse effect of SOX going public to medium sized companies. Example; prior to being private where a company would have just an internal auditor, a company that goes public also needs an external auditor to verify the internal systems of the Company.This further exemplifies the operations and the auditing costs of the company by going public as a report of the external auditor are more reputable compared to that of an internal auditor (Grifin & Lont, 2005). Make recommendation as the CEO regarding the alternative (i. e. , going public or staying private) that will best sup port the company’s expansion goals. As the Chief Executive Officer of a medium sized company, I recommend that the medium sized company should go public as this will support the company’s expansion goals.This is affirmed by the fact that going public fits into the strategic objectives of the company by being strategically aligned to gain competitive advantage. Although there are costs incurred during going public if the team is committed to the process and there are available resources to go public; economic feasibility evidences that the benefit of going public outweighs the risk and viable venture for any medium sized company. Moreover, though SOX has been challenged, the benefit that accrues to a medium sized company by going public affirms the rationale for a company to go public.

Concepts Of Love And Desire - 2059 Words

Concepts of love and desire cross cultures and time periods, defining human interaction and goals with its powerful effect on the human mind. The line between love and desire is not always clear and people from philosophers to scientists have attempted to understand these complex emotions and how they may be right or wrong. Desire has been characterized mainly as a distraction that can hinder humans on their solitary paths to self- enlightenment, but rather than abstaining from desire entirely to better reach enlightenment, it is should be transformed through the guidance of the wise and made into a valuable resource in the search for truth rather than being seen as the enemy. Desire, when left unguided, can be a problem for those who give into it, however, a desire that has transformed into a sort of love with virtuous intentions can help one on their way to enlightenment when used in the correct way. The types of desire as they relate to what enlightenment is and the way it can be achieved are all of great importance to the potential use of desire as a resource. Unrestrained desire of anything from objects to human bodies must be checked by a set of rules or standards, whether those rules instruct humans to completely rid themselves of desire or to transform desire into something more. Selfish desire is characterized as temporary and ultimately useless or even a hindrance to a man in search of truth and knowledge. According to the teachings of Krishna â€Å"The senses, mind,Show MoreRelatedDesire In The Symposium1508 Words   |  7 Pagesspecifically regarding the role desire plays in a virtuous life. As academics and philosophers who hold high rank in the social system of ancient Greece, these men are praised for their wisdom and eloquence. One such philosopher, Pausanias, gives a speech early in the text that addresses desire as a multifaceted concept, setting the tone for the novel. 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