The objective of the integrated semester is to help you extend your knowledge of how the finance, operations, management, and marketing disciplines work and how they integrate their functioning in the real world of business. This assignment is an assessment of how well you understand this integration. This assignment will be dealing with STARBUCKS and has 2 parts.
Listed below you will find some WEAKNESSES and THREATS for Starbucks, read them carefully then proceed to answer the questions that follow:
- 1) Customers not willing to wait in long lines at stores during morning rush hour and lunch hour.
- 2) Coffee dominant business with a poor reputation for creativity around new product and companion product development.
- 3) Too dependent on word of mouth to create brand awareness.
- 1) Better value offered by local coffee house shops and national companies like Dunkin Donuts and McDonalds McCafe.
- 2) Downturn in the economy can decrease customer traffic and spending.
PART I : MARKETING ASSIGNMENT QUESTIONS
1). Assume you are the Vice President of Marketing for Starbucks. Select 1 Weakness and 1 Threat from the list provided above, and explain how you would recommend taking that selected weakness and turning it into a strength and the selected threat and turning it into an opportunity.
Provide 2 explanations as follows:
2a) Explain how the weakness turned into a new strength would impact the disciplines of Marketing, Finance, Management and Operations.
2b) Explain how the threat turned into a new opportunity would impact the disciplines of Marketing, Finance, Management and Operations.