STARBUCKS

Image: Sheth, 2017

 Starbucks: Trends in Marketing

Prepared for:
Janell Barnard-Keller
Bus 338 Instructor

Prepared by:
Ashley Kotula, Jay Richards, Marty Faulman, Meagan McAllister, and Sixiong Xaio
University Michigan-Flint

November 12, 2017

MEMORANDUM
TO: Professor Keller, COMM 338 - WWW
FROM: Group 8 (Ashley, Jay, Marty, Meagan, Sixiong)
DATE: November 10, 2017
SUBJECT: Starbucks: A Fortune 500 company
What follows is a research-based analysis of Starbucks, a Fortune-500 company, per your
request and in accordance with mandatory coursework as per the syllabus. The purpose of this
report is to examine how Starbucks maintains its customer satisfaction and service speed with a
complex and diverse menu. Our research evaluates Starbucks's future product development, such
as Reserve Brand Coffee, and new mobile applications, to maintain their advantages and
improve their quality of service.
For Starbucks to stay on trend, they have implemented changes to their menu from cold
brews to in-home brews. They also found it necessary to re-vamp their mobile app in order to
keep up with the quickly changing tech evolution. Mobile ordering has become a simplified way
to order while skipping the in store lines. Extra features on the app such as the inclusion of
Spotify music to create the atmosphere of the store has also been a step toward change.
Starbucks has successfully continued to stay on trend and have been capable of marketing to
maintain their customer base.
To solve some issues current and future, Starbucks needs to completely makeover their
app. They need to optimize the customer experience and implement measures to keep the
experience quick for customers on the go. In a fast pace country such as the US, customers
generally want quick service, and ensuring proper staffing at peak times will contribute to shorter
wait times. The in home machines have proven another successful business venture for the
convenience for their loyal customers. Overall, Starbucks has continued to make the right
decisions to stay afloat and market correctly to their customer base, as they continue to dominate
in the industry.
This project has been an opportunity for all five members of this group to learn to
communicate and work together to strive for the best version of a paper that can be written.
Everyone worked hard gathering their parts; Ashley has taken a hand at explaining the problems
of Starbucks and composing and editing our final paper. Jay has become a leader and a motivator
of the group encouraging a timely manner of the project as well as researching the trending iced
coffee and in home coffee system, and editing. Marty got the ball rolling at the beginning of the
semester with providing ideas on what to write about, as well as discussing the competition that
Starbucks faces. Meagan assembled the outline and has been responsible for the introduction and
conclusion of this paper as well as editing, final assembly and submission of paper. Sixiong was
helpful in the creation of the outline, and has also worked on a statement of the problem and the
competitive future trends of Startbucks.
 Thank you for providing this group and our other class peers with an opportunity to work
as a group. As we came together as a team, came up with an organization to be researched, and
discussed specific strategies and tasks per team member, it was necessary to focus on a relative
research-based synopsis of the aforementioned company. Going forward, the experience gained
from creating this report will provide us with a means to prepare future reports as we move
ahead with our respective careers. Finally, in the event you have any questions regarding this
report, kindly reach us at extension 5553.
Respectfully submitted,
Group 8
Table of Contents

Introduction.1
Trends in Coffee..1
Home Coffee Systems.2
Statement of the Problem............................................3
Starbucks Competition....5
Future Trends of Starbucks.7
Conclusion..8
References...9
LIST OF ILLUSTRATIONS

Figure 1. Total number of Starbucks Stores and Revenues 1971-2015.7

Figure 2. Starbuckss Revenue Growth..8
 1

Introduction
The next time you are in a city anywhere in the United States, take a deep breath in and
you will probably smell all sorts of things: the standard stinky cars, the stench of dumpsters that
have not yet been emptied, and maybe you will smell some fresh water in the air if you are close
to water. However, there is one smell that stands out from all of the rest: fresh brewed coffee.
The most common place to find a Tall, Grande, or Venti cup of coffee is within a green and
white Starbucks. The birth of this fortune 500 company began in 1971, when Jerry Baldwin,
Gordon Bowker, and Zev Siegel opened the doors to the first Starbucks in Seattle, Washington.
Their idea is credited to Peets Coffee and Tea in Berkeley, California, where they
occasioned to observe the proprietor and they consequently created a business model. Peet was
their first supplier, and they grew from there using his style and began creating their own. In the
1980s they lost one partner, Zev Siegel, but had grown to four stores in the Seattle area
(Starbucks, 2017). In 1981, Howard Schultz became the head of marketing at Starbucks; he was
the driving force in connecting store employees to store patrons. After a trip to Italy, he sought to
create more of a cafe out of Starbucks, but Baldwin and Bowker were too hesitant to change
from their original business model and Schultz soon left (Starbucks, 2017). Upon leaving,
Schultz built his own coffee chain which was an instant hit, and Baldwin and Bowker, realizing
the success that Schultz was having, sold Starbucks to Schultz in 1987. He then created the
Starbucks brand and in 1992 the company went public (Starbucks, 2017).
Currently, Starbucks is all over the globe and has more than 20,000 stores (Starbucks,
2017). The desire to be remain ahead of the curve is strong. The evidence of this can be found in
the first few pages of Howard Schultz's book, Onward. One afternoon in February of 2008,
Starbucks closed all of its doors to retrain store employees on the art of pouring espresso.
(Schultz, Gordon, 2011). That goes to show the competition the drive that Starbucks has to
maintain its spot at the top of the coffee chain. Now the company has created a trend in cold
brew coffee, as well as the creation of an at home Starbucks coffee (Starbucks, 2017). The
problems that Starbucks still faces to this day is an overabundance of choice, as consumers prefer
less choices rather than more. This also slows down the line, because when a customer cannot
make a decision, s/he holds up other customers that know exactly what they want. Starbucks is
constantly pushing the market forward with its noticeable competition. This competition has
been leading to what Starbucks will accomplish with its future.

Trends in Iced Coffee

Starbucks continues to seek new products to introduce into the highly competitive coffee
market. In the summer of 2016, the international coffee retail giant introduced a new beverage
called Nitro Cold Brew (Shen, 2016). The then new product was more like a carbonated drink
inasmuch as a barista infuses a blast of nitrogen into a brewed coffee to make it creamier, less
bitter and consequently sweeter. (Shen, 2016). Interestingly enough, the drink is both sugar and
dairy free. Drinks such as the Nitro Cold Brew are a part of the new trend in iced or cold coffee.
In fact, according to a press release by the company, Starbucks also introduced Cold Brew with
Vanilla Sweet Cream, a traditional Starbucks Cold Brew with vanilla cream topping of the
beverage, and Starbucks DoubleShot, a chilled espresso with milk and a touch of sweetness
 2

(Starbucks brings, 2015). Upon looking into this new trend, one finds that Starbucks was merely
taking advantage of its leverage and capitalizing on what smaller coffee houses successfully beat
them to the punch with.
Shen (2016) notes that Starbucks growing assortment of cold brew drinks is their shot at
competing with the so-called third wave of coffee. This is an increasingly popular culture that
recognizes the worlds most consumed agricultural drink (Yohannes, Matsuda & Sato, 2016) as
an art as opposed to just another in the long line of caffeinated pick-me-ups. According to Shen,
the third wave was typically inclined towards considerably smaller, independently-owned
coffeehouses that featured innovative methods of brewing and roasting. Strand (2017) contends
the trend in cold brews began in Oakland, California with a pair of entrepreneurs a decade ago
and quickly caught on in the South, and has now expanded throughout the United States.
Strand (2017) takes a closer look at the cold coffee trend, noting that smaller coffeehouses
actually profit from changes in the weather. In fact, the cold coffee blitzkrieg is no small drip in
the proverbial bucket. One smaller chain of 24 coffee stores in New York City is a prime
example of the profitability of cold coffee. During the winter months, cold coffee comprises a
mere 25 percent of sales, whereas sometime in May customers are more inclined towards
ordering cold coffee to the tune of 65 percent of sales (Strand, 2017). Recognizing the
possibilities of cold-brewing and its profitability, Starbucks jumped in with two feet in 2015 and
introduced their cold brews, which have now expanded to all 13,000 stores in the contiguous US
(Strand, 2017). Furthermore, cold coffee is sold in their international stores.
Further research tends to prove that the cold brewed coffee isnt a passing fad. Researchers
Yohannes, Matsuda & Sato (2016) found that worldwide coffee intake has steadily increased
over the past half-decade at an average annual growth rate of 2.4%. Furthermore, the authors
contend that the United States is the largest consumer of coffee in the world, followed by Brazil,
Germany and Japan. The researchers concluded that when temperature rise, coffee consumers are
inclined to drink more of cold canned/bottled beverages, while conversely, when temperatures
dip, they have a preference to drink hot coffee at stores (Yohannes et al, 2016). Their research
matches the growing trend for cold brewed coffee in the US and abroad.
Starbucks is faring well with their international expansion. The companys educated guess
in that upwards of 90,000,000 visits happen each week around the globe (Tall coffee, 2017). A
strong financial performance demonstrates that worldwide store sales increased three-percent in
the second quarter and four-percent in the third quarter of 2017. This is a testament to the
Starbucks brand and innovation, not to mention its market share. In the end, it is highly
recommended that Starbucks continue to introduce new cold coffee blends both domestically and
internationally to capitalize on an ever increasing market for cold coffee brews. To this end, the
corporation did just that in June of 2017 by teaming up with Pepsi Co. and introducing the ready-
to-drink Starbucks Iced Latte, available in Salted Caramel Mocha in grocery stores in the
United States (Starbucks releases, 2017). Starbucks is now the pulse of cold-brewed coffee.

Home coffee systems

Starbucks has introduced a pair of at-home coffee makers, the Verismo and the Starbucks
Barista Home Espresso Machine. In addition, the company has a variety of grinders for brewing
coffee at home. Gonzalez (2014), writing in The Seattle Times speaks of the increasing trend of
coffee consumers to utilize home brewing machines that mimic popular coffeehouses. Gonzalez
 3

notes that by 2018 market research reveals that coffee aficionados will spend as much on coffee
pods as they do on traditional bulk coffee. Coffee pods are designed for single-cup home
brewing. Starbucks has two years left on a five-year partnership with Green Mountain, the
manufacturer of its at-home machines. The author notes that Starbucks has a 15 percent share of
the premium single-serve market with its K-cups. This is backed up by the research firm,
Statistica (Leading Vendors, 2017). At any rate, Starbucks also sells its own Verisimo coffee-pod
machine, which makes espresso and brewed coffee in approximately 30-seconds. Unfortunately,
Starbucks does not release sales figures for its Verisimo machines (Gonzalez, 2014). Statistica
notes that as of 2017, some 29-percent of Americans use a single serve coffee machine and that
Starbucks is the market leader along with its partner, the aforementioned Green Mountain, with
1.16 billion U.S. dollars in sales (Leading vendors, 2017). But Kline contends that Starbucks is
experiencing oversaturation in the coffee market (Kline, 2017).
Kline (2017) noted that the criticism concerning Starbucks stems from BMO Capital
Markets. The firm argues that Starbucks has limited expansion in the United States and thus their
market is already oversaturated. Klein disagrees, noting that the coffee giant is indeed expanding
by increasing same-store sales by adding premium products to its stores along with building
Reserve locations and more Roasteries, the latter of which are museum type tasting stores.
Starbucks now has vending machines at rest stops that sell lattes, cappuccinos, and other
specialty drinks (Kline, 2017b). Additionally, the above-mentioned Roasteries are expanding
and generating four times the sales of typical Starbucks stores. They feature Nitro Cold Brew,
Starbucks Affogato, an ice cream dessert infused with espresso, as well multiple other ground-
breaking coffee-infused mixology drinks that are already showing great promise in test
stores" (Kline, 2017b). The stores also feature the home Verisimo machine as well as the cups so
customers can experience their favorite coffee in the convenience of their homes.
In the end, though the competition is stiff, Starbucks continues to lead the single-cup
serving market. This is owed to its leverage, keen marketing strategies, and brand recognition.
Based on estimates, the at-home brewing experience will continue to expand. Consequently,
Starbucks should continue to market their home machines and accessories to remain the market
innovator and maintain its dominance in the at-home coffee market.
Overall, the trend in cold-brew coffee and at-home coffee machines replete with
accessories is dominated by Starbucks. This does not mean that the coffee chain leader can rest
on its laurels. Indeed, the competition is extremely ferocious. Competitors such as Dunkin
Donuts, McDonalds, and others top brands are the top competitors of Starbucks. While none of
the aforementioned maintain a top market share, they are nevertheless gaining on Starbucks.
Cold or iced coffee enjoys considerable popularity and consequently Starbucks would be wise to
concentrate their global efforts on marketing these and new brews to homes via grocery stores
and vending machines on a global basis. Finally, it should also pursue selling its popular home
brew machines in much the same manner.

Statement of the Problem

The success of the iced coffee and the at home coffee systems still leaves Starbucks with
some problems because no company can be perfect 100 percent of the time. The number of
choices in the restaurant affects the decision-making time of customers. For example, in a
restaurant that provides dozens of dishes and a restaurant that serves hundreds of dishes, the time
 4

for ordering meals is not the same. In restaurants with fewer dishes, consumers only need to
compare dozens of flavors and quickly use the exclusion method to make a judgment and decide
which one to choose. However, in a restaurant with hundreds of dishes, customers always think
about whether the next one is better than this one. Most customers want to make the best
decision. The result is that they consume a great deal of time before they are able to compare
hundreds of dishes. Finally, out of time needs, they may give up the purchase. For Starbucks, the
current menu has become a difficult choice. On the one hand, the dozens of coffee options reflect
the choice of each customer can be satisfied by Starbucks. On the other hand, it allows customers
be hard to make the purchase decision.
For consumers, the pain of laborious decisions is more than the joy of spending.
Moreover, too many options consume a lot of time and reduce the attractiveness of the product
being selected. Customers tend to think the product which is not selected is better than the
product they have purchased, which makes them suspicious of their decisions and makes the
consumer experience worse.
For employees, too many options will also reduce their work efficiency. They need to
remember a lot of drink recipes, even as they need to know, "brewing and changing coffees
(staying on top of which ones are decaf, light and bold roasts, while rotating them via Starbucks'
coffee cadence , using 2-minute timers and grinding the beans, having them all prepared to brew;
And never leaving one pot sitting longer than 30 minutes without dumping, since it's no longer
"fresh"), marking drinks, rotating pastries, the food case, and tossing hot items into the oven, all
while managing the register" (Groth, 2011). This also means that employees need a lot of
training before they go to work.
Queuing anxiety is a reason for the decline in customer satisfaction. During a long wait,
people are prone to anxiety and irritability. Coupled with hundreds of options in the drink menu,
or even the purchase of food, this will be a devastating blow to customer satisfaction. As such,
The company was focused on the following factors: Atmosphere, Quality Coffee, Customer
Service, and Partner (employee) Satisfaction (Groth, 2011). Starbucks sought to be a place where
people could lounge with a good drink and friends, or maybe just a book. This atmosphere was
created to establish a friendly and welcoming environment. Through their success, they changed
the mindset of coffee customers worldwide: from a coffee shop being a place to buy a cup of
coffee to a place to experience a good cup of coffee (West, 2017). This is one of the reasons
Starbucks is successful with an excellent atmosphere. Customers are willing to spend time at
Starbucks, whether reading or communicating, and this is what Starbucks needs to think about
when designing their menus. In fact, there is an obvious example where Starbucks limits sales at
special events, and sales will rise sharply. For example, Unicorn Frappuccino was the product we
recommend customers to buy," and in fact, most customers in April indeed bought it (Groth,
2011). In fact, this is also a trend in Starbucks' future menus, including mobile apps and the
curtailment of menu options. Regarding the use of mobile applications, people will be able to
help determine the products they need in advance.
Adding to the problem Starbucks customers face is the issue of tipping. With an updated
app that allows payment and gives a time for when the order will be ready, the convenience is
provided in hopes that customers will be more likely to tip the barista, conveniently on the app.
This feature offers customers a tip in 50 cent, and $1- $2 increments (Fottrell, 2014), and could
possibly make it easy for consumers to round up their order cost.
 5

The favorites option of the app is also for convenience and will allow consumers to
favorite their orders for expediency when ordering the next trip (Fottrell, 2014). With the new
Artificial Intelligence in the mobile app, the MyStarbucks Barista will be able to place an order
by voice command or messaging. We really are stepping into a new era of ordering food and
drinks, at the click of a button or simply voice command.
Also new to the app is the Spotify experience in stores. Teaming up with the Spotify app,
Starbucks customers can stream the music playing in the store on their phone on the go (Top 10,
2016). Customers can look up song info on the app and have access to Starbucks playlists on the
go. What a better way to enjoy your Starbucks beverage on the go than with Starbucks mood
music?!

Starbucks Competition

In store dilemmas with the large menu and overcrowding are only part of the trouble
Starbucks faces. Starbucks has entered into a battle, fighting Dunkin' Donuts and McDonald's for
the top position as coffee king. Customer desire and preference greatly influence the fight, so
each company is fighting to expand menu options and physical store locations to reach and better
serve a greater customer base and draw consumers away from the competition.
Starbucks began 30 years ago with one store
and had experienced phenomenal growth and success.
It's often considered the go-to coffee place to work and
socialize, a concept that corresponds to the company's
marketing approach. From development, Starbucks has
aimed at creating a place for consumers to stop
between work and home and formed concepts for
physical locations that provide customers a relaxed
atmosphere and overall experience. The tactic has had great success, reflected by Starbucks'
2016 revenue of nearly $21.3 billion (Hawley, 2017).
Some may argue that the atmosphere at Starbucks has become less convenient to stop at
and a lot less relaxed than it once was.
So how is Starbucks responding to the growing competition? One answer is their mobile
application. All the app did was cause an already crowded store even more packed. What did
Starbucks have to say? It declared that there had been "congestion" in many of its stores.
What was the cause of this inability for its stores to breathe? Why, apps!
Too many people were grabbing their iPhones, drifting to the mobile order-and-pay
option, and arrogantly turning up at the stores believing that their coffee would be waiting for
them (Matyszczyk, 2017).
This meant that those who had taken the conventional route of walking into a Starbucks
with the intention of buying coffee were forced to endure a crowded store and were infused with
an impulse to leave (Matyszczyk, 2017).
 6

The answer for Starbucks is a complete reinvent of their mobile app which would not
only give the customer an estimated time their refreshment will be ready, but also text them
when it's done. Staffing, or the lack thereof during
peak times of the day, is also another concern for this
company and is looking to be addressed. Lastly, to
keep the gourmet coffee drinkers from turning around
and walking next door to McDonald's, they need to
implement an express line or self-serve area.
Another area of concern for Starbucks when it
comes to competition is not just the big-box
competitors that can offer fast, good and budget-
friendly coffee, but concerns the smaller, modern
coffee shops known as third place shops that are
popping up all over. Instead of worrying about the impact of Dunkin' Donuts or Tim Hortons, the
coffee giant is keeping an eye out on trendy independent shops, according to Starbucks CFO
Scott Maw (Taylor, 2017).
"We're still not seeing any one competitor or even a smaller number of group of
competitors being an influence on our business at any time," Maw said at the UBS Global
Consumer and Retail Conference on Thursday (Taylor, 2017). "But what we have
acknowledged ... is the collective group of independent coffee shops out there, they are doing a
lot of what Starbucks has been so good at for so long"(Taylor, 2017).
In other words, Dunkin' Donuts running a promotion isn't going to hurt Starbucks' sales.
However, the rise of trendy neighborhood shops has the potential to draw customers away from
Starbucks in the long term, especially if Starbucks can't
compete when it comes to service and environment.
"It's that third-place environment; it's a comfortable place
to be, it's an up-leveled coffee experience," Maw said
(Taylor, 2017). "They're not taking share [from] us but
what we know is if we don't have our service levels right
and customers aren't engaged in the right way, they now
have options."
The concern that independent coffee shops will win over Starbucks' customers is amplified by
the chain's growing ubiquity, Maw advised (Taylor, 2017). Widespread popularity can kill a
trendy brand's image. As Starbucks opens more locations, maintaining its coffee-snob-approved
reputation becomes more difficult, especially about independent chains (Taylor, 2017).
No company should sit back and be content with the product or service. Instead, they
should always be looking for ways to improve, and
Starbucks is a master at keeping their competition at bay and
continues to strive to remain on top. So how does Starbucks
manage to thrive in a sea of nearly infinite competitors? Two
primary factors have led Starbucks to its recent success: the
increase in overall demand for coffee, and specific initiatives
made by Starbucks, which have held their market share
(Taylor, 2017).
It is all about the bottom line and because of the
recent boom in coffee popularity and everyone wanting to get in the game, from the big box
 7

competitors, to the third place coffee shops the buzz for Starbucks is cooling (Mourdoukoutas,
2017). As evidenced by the company's recent financial reports, Wall Street has taken notice. That
is why the companys stock has been underperforming in the overall market over the last two
years (Mourdoukoutas, 2017).

The increase in Starbucks's investment in stores does not match the extra profit they
earned between 2004 and 2009, which means Starbucks seems to forget what made it unique. Its
unique culture became diluted, in order to catch up with its explosive growth in both the number
of stores and product offerings (see Exhibit MC7.1). However, there is some crisis of the
weakening of Starbucks core competence and experience because of Starbucks lost the appeal
that made it special.

Figure 1. Total number of Starbucks Stores and Revenues 1971-2015

Howard Schultz as CEO of Starbucks in January 2008, soon realized the problem
Starbucks faced was the commoditization of the brand (Hanna, 2014). He began to analyze
these problems and solved the problem. Until now, Starbucks has become not just provider of
beverages as coffee or tea, but Starbucks is now able to successfully introduce food items.
Starbucks also has been trying to give customers reasons to come in during off-peak hours, with
new bistro boxes, snacks, iced tea drinks and Frappuccino aimed at afternoon and evening visits
(Hanna, 2014). Food sales in the U.S. grew nearly 20% in the quarter versus the prior year
(Jargon, 2015).
To meet customers demand, Starbucks is continuing to expand their business, including
unique secret recipes from customers, cakes and other food sales, and more coffee flavors. At the
same time, Starbucks takes advantage of social media use such as Facebook and Twitter to
advertise its new products in a timely fashion, such as their limited sales of products and some
products which match the tastes of locals. Nowadays, Starbucks has a reputation for new product
development and creativity in the beverage market.
Enterprise's development strategy will directly affect the survival and development of
enterprises, and guide the future trends of enterprises. Starbucks has built a globally renowned
 8

brand in a different way. They pursue the perfect roasted coffee, creating an elegant
environment, focusing on the business model of customer experience and developing into a large
enterprise with nearly 30,000 stores.
As the world's largest market, China will be the "future" of Starbucks. From the data
analysis, The CAP (China and Asia-Pacific) region posted SSSG of 1%, driven by 6% SSSG in
China (Nathan, 2016). The CAP region is the fastest area of sales growth of Starbucks, and the
growth rate reached 23% in China in 2016. Schultz, the chairman of Starbucks, believes the
demand for coffee in the Chinese market will grow in the future. Starbucks yesterday
announced plans to dramatically expand its presence in Asia, while cutting back its retail
presence in the U.S., closing 379 consistently underperforming Teavana stores (Nathan, 2016).
Rather than aiming to drive more sales at home, the company will now focus on expansion
outside the U.S., particularly in China, where Quartz reports that the company is opening more
than a store a day (Kelly, 2017) This also confirms that the future development of Starbucks
will focus on China.

Figure 2. Starbuckss Revenue Growth. Source: (Nathan, 2016).

In fact, Starbucks needs to make major changes if they target their future markets in China.
As the world's largest tea country, coffee sales only account for about 10% of the whole market
which means coffee is not as attractive to the Chinese market as the U.S. market. (The Market
Explodes, 2016). Under the company-operated stores, 50 percent of total stores can collect
information about market trends, and the licensed Starbucks stores accounted for 10 percent of
total net revenues in fiscal 2016 (Dudovskiy, 2017). This will allow the branch to retain the core
business model of Starbucks for the purpose of maintaining its core competitiveness in the China
market at a high level.
Conclusion
Starbucks, the coffee giant has had its ups and downs. The fortune 500 company has had success
with iced coffee sales, and its introduction of at home coffee systems. However, it has been a
 9

bumpy road with their widely used mobile application as well as with their wide variety menu.
The application that has been used by Starbucks loyalists has led to morning coffee backups.
Their large menu offers too many options with too many different names, also leading to
morning coffee backups. Another thorn in the side of Starbucks concerns their competition.
Since companies such as McDonalds have worked hard to beef up their coffee game, they have
driven Starbucks to continue with their innovation. To this end, Starbucks is currently working
on a more efficient mobile application. The company has nevertheless maintained their image of
the go to coffee shop. The future of Starbucks concerns its expansion into China. The expansion
domestically will continue to slow as they continue to grow more in Asia. The Starbucks
Company has such a rich history of constant improvement that this company will continue to be
a part of fortune 500 list and continue to grow globally.
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References
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Leading vendors of single-cup coffee in the United States in 2017, based on sales (in million
U.S. dollars). Statistica. Retrieved from https://www.statista.com/statistics/259236/leading-
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Nathan, R. (2016). Strong sales in Asia-Pacific and China drive Starbuckss revenue. Market
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