Marketing Strategy and the complete analysis

Marketing Strategy and the complete analysis

TABLE OF CONTENTS PAGES Executive Summary 3 Background 4 Introduction 5 Part 1:Current Situational Analysis 6 1. 1 Macro Environmental Analysis 6 1. 2 Micro Environmental Analysis 8 1. 3 Internal Analysis 9 1. 4 SWOT Analysis 12 Conclusion 13 Part 2: Recommendations 14 2. 1 Mission 14 2. 2 Objectives (SMART) 14 2. Segmentation, Targeting & Positioning (STP) 14 2. 4 Marketing Mix (7P’s) 16 Implementation & Control 17 Conclusion 17 Appendices 18 References 25 Executive Summary This report provides an analysis and evaluation of the current situation and prospective profitability of Starbucks. It also looks at the threats and weakness of Starbucks and how they can be dealt with by taking advantage of their strengths and opportunities.

Starbucks, a leading specialty coffee retailer in the world has been selected because of its strategic approach in responding to external pressures as well as their strong capabilities in sustaining themselves in a highly competitive environment. Their approach to product development, technological advancement and in providing a unique experience would lend to them establishing themselves in Trinidad and Tobago. As the foundation for investigation, PESTEL analysis, Porter’s 5-forces Model and Value Chain have been applied. They were used to analyze the macro, micro and internal factors with the given limitations for each odel. The report found that the major areas of threats are dependency on suppliers, price sensitivity that is affected by the global economic recession and competition. Despite the threats, the report focuses on Starbucks competencies in product innovation, set distribution channels, providing quality service and experience and technological advancements to enter into Trinidad and Tobago’s market through Market Development Strategy (Ansoff 1968). This will allow for Starbucks to expand and build its brand while increasing its position. Background

Starbucks is the premier roaster, marketer and retailer of specialty coffee in the world operating in the specialty eatery industry. It was founded in Seattle, Washington in 1971. Starbucks has 18,066 stores in 60 countries around the world and has 160,000 employees. (www. nasdaq. com). They sell freshly brewed coffee (over 60 blends), a selection of premium teas (over 20 blends), Italian styled espresso beverages (over 30 blends), Frappuccino blended beverages (over 30 blends) inclusive of both hot and cold blended beverages and a variety of complementary food items.

They have also diversified into the bottled water industry and the music retailing industry (www. starbucks. com). Introduction The purpose of this report is to evaluate and analyse the marketing strategy of Starbucks and the internal and external factors that influence it. The SWOT framework would be utilised to summarise these factors to identify ascending and inner environments respectfully. (Part 1) The second part of the report analyses Starbucks’ objectives, marketing mix, STP and recommendations based on these fundamental results have been proposed to improve performance. Part 2) Part 1:Current Situational Analysis This section is devoted to analyse Starbucks position as it seeks to enter the Trinidad and Tobago market from the evaluation of macro, micro and internal factors that would influence its performance. 1. 1 Macro Environmental Analysis The PESTLE will be used to analyse the macro environment of Starbucks as it looks at the potential impact on which it would operate and to build on the vision for the future. It allows for the identifying of opportunities and threats that lie within.

Thereby, taking advantage of said opportunities and minimising threats. (Hamilton 2009). However, the weakness of this method identifies actuality at a particular instant without providing additional inferences. Political * Government Stability: Trinidad and Tobago has a stable government with elections being held every five years. This stability auger well for Starbucks who operates in 60 countries and is important for performance. * International Trade Tariffs: Starbucks imports ingredients from Africa, Central America etc. nd would need to pay local importation tariffs. * Taxation Policy: Trinidad and Tobago offers tax incentives for businesses entering the local market (www. trinidadlaw. com). * Government Policy: Trinidad and Tobago had a reputation for being a leading producer of high grade cocoa and is seeking to revitalise the cocoa and coffee industry (Appendix A). Economic * Growth: Projected growth rate of 1. 2% for 2012 in the economy (www. finance. gov. tt) * Inflation: Inflation rates of 7. % as at September 2012 would be used to predict the demand/sale of coffee. (www. trinidadexpress. com) * Recession: The worldwide economic downturn would affect coffee sales. * Exchange Rates: The value of currency is presently stable with US$1= TT$6. 40 on average * Competitors pricing: A price war can be started by local competitors such as Rituals and McCafe that would influence the price of products. * Unemployment rate: 4. 2% which indicates that there are less persons unemployed (www. central-bank. org. tt). Social/Cultural Population Demographics: Identification of the various age groups, ethnicity, behaviour etc. being targeted and their preferences. * Location: Customers look for convenience and ease of access. * Health consciousness: Consumer trends have been changing towards healthier products. Technological * I. T Development: Upgrade in internet capabilities e. g. TSTT and Digicel utilising 4G connections. * New Processes and Materials: Technological developments of coffee machines and computers being used globally that can be utilised locally. Research and Development: Improvement on existing products globally and introducing new and innovative local products. Legal * Trade and product restrictions: Trade laws and treaties are globally recognised and Trinidad being a member must adhere to these rules. * Health and Safety regulations – Conformity to global and local health and safety standards in accordance to The OSH Act of 2004 and Act No. 3 of 2006. (www. ttparliament. org) Environmental * Pollution: Utilising biodegradable and recyclable products to prevent pollution. Waste disposal: Waste is to be disposed in accordance to local laws based on global standards. From the analysis, it can be derived that there would be a positive impact with the introduction of Starbucks into the local market. Both opportunities and threats have been identified in the political and legal environments. Starbucks being a Multinational Enterprise would not view it as threats but as Government policies in ensuring good business practices. Technological analysis indicates that Starbucks would take advantage in terms of communication, social media etc.

It would also ensure environmentally safe production and disposal as well as reducing those threats associated with economic and social factors by providing jobs and healthy products. 1. 2 Micro Environmental Analysis This section focuses on the micro environmental analysis. Here, Porter’s Five Forces model will be used to analyse the competitive structure and profitability of Starbucks. Porter (1980) developed a matrix (Figure 1) that considered an organisation’s position in the market based on its ability to differentiate its product and costs from those of its competitors.

Figure 1. Threats of New Entrants Barriers to entry are low which makes the local market very attractive. Therefore, threats of new entrants are high. Rituals being the local market leader would pose an issue. Starbucks would therefore need to defend its position by improving presence, having strategic alliances with agents of the supply chain, advancement in technology and being prepared for any reaction from competitors competing in the same market segments. Bargaining Power of Suppliers (BPOS)

Limited producers/suppliers of high grade coffee which influences price. Coffee supply is also affected by environmental conditions that affect their yield which can increase its cost. Therefore, the BPOS is high. The suppliers of technological products such as automated coffee, latte and espresso machines have moderate power because not too many suppliers exist and can provide this equipment. Bargaining Power of Customers This is low because customers possess minimal or no switching costs because they have no influence on the price or products.

There are also other alternatives available for them such as Nescafe instant coffee, vending machines and breakfast shops that offer coffee. Also, the downturn in economy has affected customers’ spending patterns. Threats of Substitute Products As Porter says, “A substitute performs the same or a similar function as an industry’s product by a different means”. These can be divided into direct or indirect. Direct substitutes would be traditional coffee houses (Rituals, McCafe) and indirect substitutes are those products that provide the same need such as instant coffee, vending machines etc.

Substitute products can be tea, juices, water. Substitute places can be bars, restaurants, cafes etc. This threat is therefore high. Competitive Rivalry within an Industry This is high because Rituals has established itself as the market leader with over 41 stores operating in Trinidad and Tobago (www. ritualscoffeehouse. com). The major threat to Starbucks is supplier power and competitive rivalry. It does not have a production warehouse in Trinidad and Tobago and has to import its coffee and other ingredients.

However, this can be dealt with by forming strategic alliances with suppliers inclusive of local producers to manage the fluctuating prices of coffee beans. Starbucks will be able to compete with their competitors and any new competitor that may enter the local market because of their financial capabilities and their market leader position in the global market. 1. 3 Internal Analysis Porter’s (1985) value chain (Figure 2) will be used to analyse the internal factors that influence Starbucks. It analyses activities through which a firm can create competitive advantage.

There are primary activities which deal directly with the creation of products and services and support activities which can be used to obtain or increase competitive edge in the market (Hollensen, 2010). These activities are coordinated to create value for its product that exceeds the cost of value activities. Figure 2 Primary Activities Inbound Logistics: This involves agents choosing coffee producers from mainly Africa, Latin America ensuring that it meets the required standards, establishing relationships with suppliers and organisation of supply chain management system.

Operations: Starbucks operations are conducted in over 60 countries under direct operation by company and franchising (www. starbucks. com). Beans are roasted and stored in regional distribution centres in the US, Europe and Asia while maintaining its freshness and quality. Outbound Logistics: Starbucks normally sells its products through its coffeehouses but has since started selling its products through leading supermarkets. Products are shipped through central distribution centres to the various coffeehouses maintaining quality and freshness.

Marketing and Sales: Starbucks does not invest heavily in marketing but relies on word of mouth which is achieved through its high grade products and level of customer services. There are other marketing activities which involve sampling of new products within the stores. Direct selling via retail stores/groceries, e-commerce also advertising via billboards, internet, television and radio as well as other sales promotions to promote their products.

Service: Starbucks provides superior customer services by ensuring that employees are trained extensively in providing the highest quality products while ensuring high customer satisfaction. Support Activities Infrastructure: Starbucks possesses a divisional organisational structure that includes general activities such as accounting, finance, etc. that support the work of the entire value chain (Hitt et al 2009). Human Resource Management: Starbucks workforce is seen as its most valuable asset. As such, there is a wide array of training and development programs available to employees.

They are also motivated by incentives- tangible and intangible. In the UK, employees are entitled to free drinks during their shift. Technology: Starbucks depends on technology for ensuring the consistency of premium products, a high level of customer experience as well as cost saving drives. The use of computerised roasters has ensured that taste has been consistent which has contributed to the levels of customer retention of Starbucks. Procurement: This process involves purchasing items needed for the production of final products or offering of services.

This would entail coffee beans and other food items, as well as equipment and buildings etc. 1. 4 S. W. O. T Analysis The table shows the results of the internal and external environments of Starbucks. Strengths| Weaknesses| * Global brand recognition * Unique and established experience * Wide product range * Highly trained staff * Use of high quality raw materials * Large financial resources| * High prices * No or low switching costs for customers * Negative corporate image (www. marketingweek. om) * Unhealthy products| Opportunities| Threats| * Adapt products that are healthier to local markets * Focus on growing local economy * Incentives for new businesses * Technological advancements * Increase licensing relationships to further brand strength * Purchase from local suppliers| * Increased coffee prices * Global Recession * Increase in number of substitute products * Climate/environmental changes where coffee is grown| The possibility that the main threats Starbucks is facing are economic factors.

This negative impact increases because of the high dependency on suppliers, the climate change that affects coffee production and price sensitivity of consumers. Despite this, Starbucks is able to benefit from strategic alliances with local suppliers, technological advancements, product adaptation, global brand recognition and experience to develop its market share. Starbucks weaknesses is its premium prices for its products, low switching costs for customers and perceived unhealthy products which may have negative consequences.

However, Starbucks is entering a new and emerging market which would only serve to enhance its global brand which may bring positive growth for the company. Conclusion Starbucks global brand is the result of their investigative approach in entering new markets and finding solutions to satisfy their customers, some of which have been identified in this report. Starbucks attempts to respond to changes in the business environment by observing the internal and external environments. In considering the threats and weaknesses identified above in the SWOT analysis, areas for improvements have been identified to hich recommendations will be made accordingly. Part 2: Recommendations Starbucks seeks to continue to provide quality coffee and value and further improve on its profitability and performance. As it is seeking to enter our local market, Ansoff’s (1957) marketing development strategy will be utilised. As a result, Starbucks will be able to expand and improve its operations in accordance to its objectives concepts of Segmentation, Targeting, and Positioning (STP) and Marketing Mix. 2. 1 Starbucks Mission

Our Mission: to inspire and nurture the human spirit – one person, one cup and one neighbourhood at a time. 2. 2 Starbucks Objectives- SMART Objectives| S| M| A| R| T| Obtain a market share of 5% by year ending 2013| | | | | | Increase brand awareness by 10% by year ending 2013| | | | | | Attain a net profit margin of 10% in the next 5 years| | | | | | Gain awareness for healthier products by year ending 2103| | | | | | See Appendix B for Coffee Industry at a Glance. See Appendix C for Starbucks (US) 4 year Financial Report ending September 2012 (www. usinessweek. com) 2. 3 Segmentation, Targeting, Positioning Market Segmentation is a process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviour that might require separate products or marketing programs (Kotler and Armstrong, 2006). Starbucks will segment its market based on demographics, geographic and psychographic variables (Appendix D). Target Marketing is a process of evaluating each market segment’s attractiveness and selecting one or more segments to enter (Kotler and Armstrong, 2006).

Starbucks will target these segments based on the following criteria: age, location, attitudes and income levels (Appendix D) by providing points of difference such as brand experience, quality, health and convenience access that will make customers come to Starbucks. As a result Starbucks will target the age group 19-59 years which represents students and the working class and is 64% of the population (www. cso. gov. tt). Also changes in behaviour such as trying something new, a unique experience and Trinbagonians loving all things foreign will make Starbucks the preferred choice and destination.

Market Positioning is arranging for a product to occupy clear, distinctive, and desirable place relative to competing products in the minds of target customers (Kotler and Armstrong, 2006). Starbucks’ position in the market will allow it to place more emphasis on offering premium products that are also health-conscious with a hint of local flavour and taste. They will also position itself as a third place to be apart from home and work where customers can benefit from an unforgettable experience, high quality products with unique tastes, friendly environment and high customer service thus confirming the mission statement of the Company.

Starbucks unique selling proposition is that not only do they offer coffee drinks and other products but they are known for producing high quality, premium coffee beverages. Starbucks marketing strategies focuses on: * Third Place- place to go between home and work. * Customer Satisfaction- where customers feel the exclusiveness of enjoying their coffee. * Creating a Community- individual allowed to express opinions and join in discussions via use of the interactive website. * Strategic and Smart Partnerships- Utilising strategic partnerships to increase profitability * Innovation- use of local flavours to create new products. Brand Marketing- ‘word of mouth’ advertising focusing on letting the product speak for itself. 2. 4 Marketing Mix ‘It is the set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market” (Kotler and Armstrong, 2006). Product: Starbucks will create unique local flavoured coffee products to cater for our tastes and seasons e. g. Calypso Blend, Coconut Cream flavoured coffee as well as provide traditional products which will be introduced in an incremental basis (Appendix E). Serve high quality products by expertly trained staff. Organic foods for vegetarians.

Price: Starbucks will eliminate the negative effects of threats (competition, increase in raw materials) by purchasing from local coffee and cocoa suppliers. Starbucks will utilise a price skimming strategy charging premium prices, thereby associating price with value and quality. Place: Starbucks will be located at major shopping areas in Trinidad and Tobago such as San Fernando, Chaguanas, Arima, Port of Spain and Scarborough. These areas were selected because of high volume of both vehicular and pedestrian traffic and ease of access. Possess well-designed layout with comfortable furniture. Free Wi-Fi with an area for children.

Promotion: Starbucks has a strong brand presence. They will utilise word of mouth as well as advertise in the print, electronic media and social media. They will also use sales promotions by giving discounts and offering customer rewards and loyalty programs. People: Starbucks staff will be highly trained in customer service and coffee preparation. A happy staff means happy customers. Therefore, customers will be treated with dignity and respect. There will also be a diverse workforce representing the local population. Process: Starbucks key business aspects are quality of service and coffee.

They will ensure that the process of ordering to receiving your coffee would be reduced leading to a reduction in time and faster service. Orders will be taken over the phone or on the internet with payments being made via credit card. Also with the advancement in technology, payment can be made via mobile phones. Physical evidence: Starbucks will offer a blend of product and service that will give its customers a great experience. The clean, friendly and relaxing environment with comfortable furniture, tempting pictures of products being offered with the added value of the smiling and welcoming staff in uniforms.

The soothing music will also compliment the atmosphere with Starbucks being the place to be. The cups and glasses will also be designed to give the impression that there is so much to drink. Implementation and Control Sales performance will be implemented by the preparation of strategic plans and the integration of annual operating budgets subdivided into bi-annual rolling budgets which would allow for more flexibility and encourage management to react faster to business changes.

All elements of Starbuck’s marketing effort need to be closely monitored for any change to the market may affect its operations. Starbucks must be aware of these changes and quickly adapt to improve these conditions within the environment and market response. This process must be an on-going one if they are to fulfil their customers’ needs. Starbucks will also utilise the Gantt chart to show the various activities needed to be undertaken in order to improve production, sales and customer service. Appendix F) Conclusion For Starbucks to ensure its success and survival in Trinidad and Tobago, it is important for them to continuously monitor and put measures in place that will satisfy and sustain its existence. They need to take advantage of technological advancements, offer local and innovative products while responding to customer needs. Enhance its brand locally by cooperation with local suppliers, support local culture and activities through sponsorship which allows for market share growth.

This would place Starbucks in a better position to be sustainable in Trinidad and Tobago. Appendix A Piggott urges Cocoa Board: Return to cocoa glory days Trinidad Newsday: Thursday, February 11 2010 AGRICULTURE Minister Arnold Piggott recently urged members of the Cocoa and Coffee Industry Board (CCIB) to return Trinidad and Tobago to its glory days of cocoa. “TT is one of six countries producing the best quality, fine flavoured cocoa, which consistently attracts the highest world price of US$5,000 per metric tonne.

This is an image and reputation that we must manage and protect, especially when making plans for the revitalisation of the sector,” Piggott said at a meeting of the CCIB directors, who were presenting their strategic business plan for the industry. The CCIB’s mandates blend regulatory and control functions with those of commercial operations. Established by Act 20 of 1961, the Board’s goal is to secure “the most favourable arrangements for the purchase, sale, handling, grading, exportation and marketing of cocoa and coffee for the benefit of the cocoa and coffee industry”.

The Board’s chairperson Jacqueline Rawlins headed the closed-door session, which took place at the Courtyard by Marriott, Invaders Bay, Port-of-Spain. Cocoa agronomists from the Ministry’s Research Division were also in attendance. “The CCIB needs to facilitate the restoration of TT’s glory days of cocoa,” Piggott said as he applauded the board for promoting increased cocoa production from 100 metric tonnes to 300 metric tonnes in recent years.

He offered his Ministry’s support for the strategic plan, emphasising that the Board should ensure that all its endeavours are consistent with the objectives of the ministry’s transformation plan for the agriculture sector, which aims to restructure, revitalise and reposition the sector for sustainability and profitability. Piggott also urged the Board to ensure that small farmers, who form the backbone of the industry, benefit from all initiatives. He advised the CCIB to: Foster further increases in cocoa production, especially for export markets;  – Foster increased growth of the sector and farmers’ incomes and profits through incentives;  – Encourage farmers to form co-operatives so that they can become more competitive;  – Explore the potential for innovative mechanisation options for cocoa estates to counteract labour shortages during harvest periods;  – Aggressively pursue the marketing of value-added products such as chocolates, cocoa butter, and liqueurs;  – Identify fallow or abandoned cocoa estates or acreages that can be revived;  – Develop a programme for replanting new cocoa trees; Develop a programme to facilitate inter-cropping cultivation for food crop production, e. g. plantains, bananas, dasheen and dasheen bush; and  – Support the thrust of moving the industry from agri-culture to agri-business. In recent years, the CCIB has been working towards revitalising the sector though a number of initiatives, including a funding package done in conjunction with the Agricultural Development Bank. It has also partnered with the Caribbean Industrial Research Institute to implement scientific certification, which will allow local cocoa to fetch higher prices on the world market.

TT is highly regarded as a reliable supplier of “fine flavoured, aromatic cocoa”, considered by most internationally renowned chocolate manufacturers as the best in the world. The country is also the location of one of the world’s largest and most valuable cocoa gene banks – the International Cocoa Gene Bank Trinidad. In addition, the Cocoa Research Unit at the University of the West Indies continues to gain international recognition for its work in genetics. Last March, TT hosted the Second Roundtable on Sustainable Cocoa Economy, a prestigious convention which attracted 200 participants from 25 countries, ncluding top global producers Cote d’Ivoire, Ghana and Indonesia, and important world consumers France, Germany, the Netherlands and Switzerland. Appendix B Source: www. quora. com Appendix C Currency in Millions of US Dollars| As of:| Sep 27 2009| Oct 03 2010 Reclassified| Oct 02 2011 Reclassified| Sep 30 2012| 4 Year Trend| Revenues| 9,774. 6| 10,707. 4| 11,700. 4| 13,299. 5| | TOTAL REVENUES| 9,774. 6| 10,707. 4| 11,700. 4| 13,299. 5| | Cost Of Goods Sold| 4,324. 9| 4,416. 5| 4,915. 5| 5,813. 3| | GROSS PROFIT| 5,449. 7| 6,290. 9| 6,784. 9| 7,486. 2| | Selling General & Admin Expenses, Total| 3,878. | 4,109. 0| 4,338. 3| 4,704. 9| | Depreciation & Amortization, Total| 534. 7| 510. 4| 523. 3| 550. 3| | Other Operating Expenses| 264. 4| 279. 7| 370. 7| 429. 9| | OTHER OPERATING EXPENSES, TOTAL| 4,677. 2| 4,899. 1| 5,232. 3| 5,685. 1| | OPERATING INCOME| 772. 5| 1,391. 8| 1,552. 6| 1,801. 1| | Interest Expense| -39. 1| -32. 7| -33. 3| -32. 7| | Interest And Investment Income| 11. 0| –| 13. 8| 28. 6| | NET INTEREST EXPENSE| -28. 1| -32. 7| -19. 5| -4. 1| | Income (Loss) On Equity Investments| 121. 9| 148. 1| 173. 7| 210. 7| | Other Non-Operating Income (Expenses)| 26. 0| 27. 2| 46. 9| 65. | | EBT, EXCLUDING UNUSUAL ITEMS| 892. 3| 1,534. 4| 1,753. 7| 2,073. 5| | Merger & Restructuring Charges| -332. 4| -53. 0| –| –| | Impairment Of Goodwill| –| -1. 6| –| –| | Gain (Loss) On Sale Of Investments| –| 23. 1| 55. 2| –| | Gain (Loss) On Sale Of Assets| –| –| 30. 2| –| | Other Unusual Items, Total| –| -65. 9| -28. 0| -14. 4| | EBT, INCLUDING UNUSUAL ITEMS| 559. 9| 1,437. 0| 1,811. 1| 2,059. 1| | Income Tax Expense| 168. 4| 488. 7| 563. 1| 674. 4| | Minority Interest In Earnings| -0. 7| -2. 7| -2. 3| -0. 9| | Earnings From Continuing Operations| 391. 5| 948. 3| 1,248. | 1,384. 7| | NET INCOME| 390. 8| 945. 6| 1,245. 7| 1,383. 8| | NET INCOME TO COMMON INCLUDING EXTRA ITEMS| 390. 8| 945. 6| 1,245. 7| 1,383. 8| | NET INCOME TO COMMON EXCLUDING EXTRA ITEMS| 390. 8| 945. 6| 1,245. 7| 1,383. 8| | Source: www. businessweek. com Appendix D Variables| Profile| Approach| Demographics:GenderAge| Male/Female19 years and under20 years to 39 years40 years to 59 years| Starbucks caters products and services to both. Caffeine-free drinks. Nice place to relax, good music, coffee to match lifestyle (trendy)Place to relax, read, and enjoy a healthy snack with a cup of coffee. Geographic:Location| Urban Areas| Caters to high traffic volume of pedestrians and vehicles with adequate parking. Easy access. | Psychographic:Attitudes| Coffee loversAtmosphere lovers| New, fresh, high quality locally created coffee flavours inclusive of traditional flavours. A great place to relax, an experience to behold. | Appendix E Types of Products Bottled Drinks Brewed Coffee Chocolate Beverages Espresso Beverages Frappuccino® Blended Beverages Kids’ Drinks & Others Smoothies Starbucks Refreshers™ Beverages Tazo® Teas Source: www. starbucks. com/menu Appendix F No. Task Name| Duration| Start| Finish| Predecessors| 1| Recruit New Staff| 28 days| Mon 3/4/13| Wed 4/10/13| | 2| Implement innovative cashing system| 28 days| Mon 3/4/13| Wed 4/10/13| | 3| Train Staff| 35 days| Thu 4/11/13| Wed 5/29/13| 1| 4| Assign staff to branches| 14 days| Thu 5/30/13| Tue 6/18/13| 3| 5| Develop and Create new products| 28 days| Mon 3/4/13| Wed 4/10/13| | 6| Test new products| 14 days| Thu 4/11/13| Tue 4/30/13| 5| 7| Develop and Create new menu| 14 days| Wed 5/1/13| Mon 5/20/13| 6| 8| Advertise products and services| 40 days| Tue 5/21/13| Mon 7/15/13| 7| 9| Enhance website capabilities| 40 days| Tue 5/21/13| Mon 7/15/13| |

References Central Bank, 2012, ‘Unemployment Rate’, Central Bank viewed 6 December 2012, www. central-bank. org. tt Drury, C, 2004, ‘Management and Cost Accounting’ 6th ed. London: Thompson. Ministry of Finance, 2012, ‘Growth Rate’, Ministry of Finance, viewed 6 December 2012, www. finance. gov. tt Hamilton, L, 2009, ‘The International Business Environment’, 1st ed. United States: Oxford University Press. Hitt, MA, Ireland, RD & Hoskisson, RE, 2009, ‘Strategic Management: Concepts & Cases’, Cengage Learning Ibis World, 2012, @Industry at a Glance’, Ibis World viewed 6 December 2012, www. ibisworld. com Kotler, P. , & Armstrong, G. 2006), ‘Principles of Marketing’, 11 Ed, New Jersey, Prentice Hall International, Inc. Kotler, P. & Keller, K. , L, 2009, “Marketing Management”, 13th Ed, New Jersey, Pearson Education, Inc. Macroaxis, 2012, ‘Starbucks number of employees’, Macroaxis, viewed 6 December 2012, http://www. macroaxis. com/invest/ratio/SBUX–Number_of_Employees. Marketing Week, 2012, ‘Starbuck Brands’, Marketing Week, viewed 6 December 2012, http://www. marketingweek. co. uk/brands/starbucks/ NASDAQ, 2012, ‘Starbucks Corporation’, NASDAQ, viewed 6 December 2012, http://secfilings. nasdaq. com/edgar_conv_html%2f2012%2f11%2f16%2f0000829224-12-000007. html#FIS_BUSINESS Newsday, 2010, ‘Piggott urges Cocoa Board-Return to