Starbucks in 2009: The Coffee Goes Cold: 3. What do you recommend should CEO Howard Schultze’ do?
Starbucks in 2009: The Coffee Goes Cold: 3. What do you recommend should CEO Howard Schultze’ do?
Homework Answers
Due to the 2008-2009 Financial break down of the economy. .Star Buck one of the most successful retailer in the Coffee industry also got hit.
The main reason
1) Prices of the star Bucks coffee is way much higher than others. Every one agree that Star Bucks brand value is much higher than the prices but during crisis no one wants to spend that much on a Coffee. I will recommend CEO to reduce the prices and make it affordable to public.
2) Star Bucks was more into expanding and opening new outlets. In my opinion during economy crisis that is a bad bad move as it will not bring profit but only loss to the company. So stop expanding and opening new outlets.
3) Star Bucks once got a name being more customer centric now it is reduced so I will tell the CEO to be again to back to the roots to earn people trust.
4) They can expand the business not by opening outlets like these large ones but small ones which are for take away. As it will increase revenue.
5) To beat the competition in the market Star Bucks should again be more Innovative rather than sticking to old policies.
These are the suggestion which I recommend to CEO.
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Starbucks in 2009: The Coffee Goes Cold: 3. What do you recommend should CEO Howard Schultze’ do?
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