Will you produce the goods or services that you are selling or will you outsource production?The company will outsource the production of the new service. It will bring in innovative speakers to give the talks at its store in Fort Collins. Specifically, it will partner with various entrepreneurship companies that will provide the speakers.
What is your distribution channel(s)?
The company will distribute the new service through its local store in Fort Collins.
What type of partnerships or other agreements will you need to establish with other firms? What will be their role? What areas of those firms will need to be involved? What is the incentive for partner firms to participate?
The company will need to enter into agreements with popular advertising and publicity companies to promote its new services. It is important to realize that product/service promotion is one of the primary elements of marketing. It helps create awareness of the product/service’s existence among potential buyers (Kotler & Keller, 2012). Therefore, the publicity companies will be responsible for promoting the company’s new service to as many potential customers as possible. The money paid out to such companies for their services will be their incentives for participating in the project.
The company will also need to establish partnerships with entrepreneurship companies. Such companies will provide Starbucks with the speakers who will give the talks. It will need to specifically involve the top leadership/management of such companies, particularly their founders, to speak on the various elements of their specific industries. The exposure and publicity that the entrepreneurship companies will gain will be their incentives for participating in the project. As stated in the preceding paragraph, each talk will be highly promoted through leading publicity companies. The promotion messages will include information about the time, venue, and providers of the talks. Therefore, the publicity companies will also promote the entrepreneurship companies providing the speakers.
- Kotler, P. & Keller, K. (2012). Marketing management (14th ed., p. 26). Boston [Mass.]: Pearson.