Marketing Plan for Costa Coffee

Topics: Marketing, Strategic management, Product differentiation Pages: 10 (3483 words) Published: March 18, 2014

Marketing Plan for Costa Coffee

Table of Contents

Costa coffee is considered as one of the largest and the fastest growing chain of coffee shops in United Kingdom. In 2010, it was voted as the nation’s favorite coffee shop. Costa coffee was founded by Italian brothers Bruno and Sergio in 1971. Since its inception onto the market through the opening of its first shop based on London, the company has enjoyed amazing growth making it an own of over 1,300 stores in UK, and more than 700 stores in other 24 markets. Regardless of being in a market that has historically proved to be driven by consumption rather by quality, Costa coffee has managed to successfully change the way customers think, buy and consume coffee (Geisser, 1993). It was the first UK coffee shop china to commit itself to sourcing from Rainforest alliance certified coffee. All of its baristas are coached in art of hand making coffee at its unique Costa coffee training academics. The company is already the UK’s leading coffee shop brand. It is the second largest international coffee shop with more than two thousand stores outlets globally. It has strategized at facilitating expansion in UK and targets at opening around hundred stores during the 2011/2012. New stores include high street locations, universities, hospitals and adding to already established retail outlets through partnerships with companies like Tesco (Ellis, 2010). In addition, Costa coffee targets at furthering expansion into international markets with help from its 2009/10 acquisition of coffee heaven (Gilchrist, 1996). The acquisition has added 89 more stores in central Europe region. The company also targets to open more than 200 more stores in key markets including India, china, Central Europe and Middle East (Oshi, 2005). Considering the great plans for the coffee shop, this paper will utilize the company’s background information and use marketing models, theories and competes to propose and develop a three year marketing plan for Costa coffee. The plan will include market segmentation, targeting and positioning alongside its growth opportunities. Also, marketing and promotion strategies will be explored in the plan. Mission statement

The mission of Costa coffee is to serve the best coffee in true Italian style. In order to achieve this, the company focuses on quality control at every stage in the process of making of coffee right from bean to cup (Kotler & Wong, 2007). This is complemented by the fact that the company has its own roastery that ensures a constant unique blend. Costa coffee envision to being the best hospitality company with a family related hotel, restaurant, and leisure club brands recognized by its people, customers and investors as leaders in every market it operates. Product service

Costa coffee is part and parcel of the Whitbread and other family of brands engaged in the business of providing hospitality services in a single form. The company operates UK’s number one brand around the world and together serves more than ten million happy customers monthly. Costa coffee is considered as one of the world’s leading force in the coffee market thus its brand is reputedly renowned and preferred. Target market

Costa coffee strives to ensure that it appeals to all ages hence, young and mature customers are expected to derive satisfaction from the company’s array of choices of products and services. The company’s menu is designed such that it specifically caters diverse customers’ preferences (Makridakis, Wheelwright & Hyndman, 1998). Also, it guarantees that its coffee satisfies the most discerning customer tastes. Therefore, its coffee is bound continue to satisfy customers across the globe. Market segmentation

Market segmentation of Costa coffee can be defined using various market segments based on economic profiles, cultural groups, age groups, professional classification, marital status and ethnic or religious....

References: Armstrong, J. S. (2001). Principles of forecasting: a handbook for researchers and practitioners. Norwell, Massachusetts: Kluwer Academic Publishers.
Bennett, R
Bradley, N. (2007). Marketing research. Tools and techniques. Oxford: Oxford University Press.
Christensen, C. M. (1997). The innovator 's dilemma: when new technologies cause great firms to fail, Boston, MA: Harvard Business School Press.
Dev, C. S. & Schultz. (January/February 2005). In the mix: a customer-focused approach can bring the current marketing mix into the 21st century. Marketing Management 14 (1).
Ellis, K
Flyvbjerg, B., (2008). Curbing optimism bias and strategic misrepresentation in planning: reference class forecasting in practice. european planning studies.16 (1): 3-21
geisser, s
Gilchrist, W. (1996). Statistical forecasting. London: John Wiley & Sons.
Guiltinan, M
Hyndman, R.J., & Koehler, A.B (2005). Another look at measures of forecast accuracy. Monash University note.
Kotler, P. & Armstrong, G. (2004). Principles of marketing. New Jersey ,NJ: Prentice Hall.
Kotler, P., Wong, V., Saunders, J. & Armstrong, G. (2008) Principles of marketing. (5th ed). Harlow: Prentice Hall.
Kotler, A.,& Wong, S.,(2007)
Kress, G. J.; & Snyder, J. (2004). Forecasting and market analysis techniques: a practical approach. Westport, CT: Quorum Books.
Makridakis, S., Wheelwright, S.& Hyndman, Rob J
Marder, E. (1997). The Laws of Choice: predicting customer behavior. New York, NY: The Free Press division of Simon and Schuster.
Oshi, R. M. (2005). International marketing. New York, NY: Oxford University Press.
Rescher, N. (1998). Predicting the future: An introduction to the theory of forecasting. New York, NY: State University of New York Press.
Taesler, R
Turchin, P. (2007). Scientific prediction in historical sociology: history & mathematics: historical dynamics and development of complex societies. Moscow: KomKniga.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Marketing Strategy of Costa Coffee Essay
  • Costa Coffee Marketing Plan Research Paper
  • Essay about Costa Coffee Marketing Strategy
  • Essay about MARKETING PLAN
  • Costa Coffee Essay
  • Costa Coffee Essay
  • Essay about marketing plan
  • Essay on Marketing Plan

Become a StudyMode Member

Sign Up - It's Free