Seems that Starbucks is getting a run for their money between Duncan Donuts, McDonalds in-store Coffee Bars, and now Subway. Why? Because everyone is searching for ways to capture that high-value Yuppie Customer, the ones that spend and are willing to pay $4 for a cup of coffee, that indeed is a high-profit crowd, as consumers go.
We also know that in a recession the competition usually goes for the “low-cost-high-volume” strategies, the question is can the Starbucks prevail or will the competition’s “4-Bucks” brand become their new name in the minds of their consumers. Recently in Seattle, McDonald’s posted several billboards that said; “Why pay four bucks!” This of course, was aimed directly at Starbucks, but Starbucks did not respond to the marketing ploy.
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Starbucks is a good example of a mature Brand, that needs a lift, and it must be very different, not the same old strategies used by everyone else, as such a war of attrition will cost Starbucks all their profit and leave them with nothing in the end. One recent expert on branding, Susan Murphy noted;
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I have to admit I can’t stand Dunkin Donuts coffee or shops and am still a Starbucks junkie. Then again I am a “serious” coffee drinker and frankly the other brands have left me cold. I’d rather go without than go without my Starbucks but I agree with your commentary.”
And this makes perfect sense, and I told her; “Oh, yes me too, I have that new Starbucks Gold Customer Cards now,” and I am somewhat loyal myself. Still, if the competition rebrands the Starbucks Brand as “4-Bucks” that makes people think. And that will hurt business slightly, especially when several other companies offer options.
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The Dunkin Donuts new line of custom coffee drinks is interesting, but I myself am a Frappachino man, so, it does not concern me. But, with all these other “well-financed” rivals going after them from all sides, and with sales down due to recessionary forces it is a serious issue to Starbuck’s bottom line, stock is down and quarterly profits are hurt. 600 closed stores might be prudent, but it also shows weakness spurring on competition to attack. Starbucks Brand seems to be at war now with other well-known brands that want a piece of their action. So, let the coffee brand wars begin!
Lance Winslow – Lance Winslow’s Bio. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.
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