Business Model and Strategic Plan Essay Example | Topics and Well Written Essays - 750 words

Business Model and Strategic Plan - Essay Example Through this combo-meal product, the larger number of consumers can be enticed to try out the new Starbucks product. A significant amount of advertising would have to be included in this strategy in order to inform the target population of the new product (Cravens and Piercy, 2008). These advertising can simply come in the form of posters displayed in front of the Starbucks stores, and made visible to everyone. Advertisements would also have to be taken out in newspapers, magazines, and the social media. Television advertisements would also help inform a larger population about the new Starbucks product (Cravens and Piercy, 2008). The advertisement would also have to emphasize on the uniqueness of the new product for Starbucks, and all the perks and benefits it can offer the clients. It is important for the new product to stand apart from other combo-meals of other business establishments (Rust, et.al., 2004). The advertisement can present a variety of combination meals of sandwiches and coffee for the customers to choose from. The advertisement can also appeal immediately to individual consumer tastes, including the vegetarians, the vegans, or those who have cultural preferences in their meals. The bottom line of the advertisements is that the new product for Starbucks is one which serves the needs of the consumers satisfactorily (Rust, et.al., 2004). It is also important to test the new product and its viability in the market. This can be done through research. A research can be carried out covering the possible target population. This target population would be invited to Starbucks and would be invited to test the new product. Posters of the new product would be displayed outside the stores (Zeithaml, et.al., 2006). The research would note if the respondents would opt for the combo meal, and what type of meal they would choose. Feedback on the quality and the value for money