Can u believe it?.....If you had invested $10,000 in the Starbucks IPO on the NASDAQ in 1992, your investment would be worth approx. $ 6,50,000 today.....staggering 5000 % growth....
"The Starbucks Experience "by Joseph Michelli examines the working of a company that has taken an ordinary product and transformed into an extraordinary business success.It shares 5 principles that led to Starbucks being one of the world's "most admired" companies according to Fortune magazine.These priciples are
1) Make it your own
2) Everything matters
3)Surprise and Delight
4)Embrace Resistance
5) Leave your mark
The book attributes the success of Starbucks to its employees- the "partners" and the experience they create for each customer.......
The company which opened its first store in Seattle, Washington in 1971 has grown by leaps and bounds since then and has 11,000 stores in 37 countries ,averages more than 35 million customers visits each week and has loyal customers who visit it 18 times a month........
The book also shares the vision of Howard Schultz, the Starbucks former CEO and current Chairman....When people come to Starbucks, they should get a comfortable setting where they are valued on a personal level and where a meaningful emotional connection is made.....This setting referred to as "Third World" by Starbucks must offer warmth and relief that sets it apart from th first two places in most people's lives : work and home....
Customers must be able to customize their beverage with the handcrafted assitance of their barista(the Italian word for bartender and the term used at Starbucks for a coffee preparer).....
I found the book very enriching and engrossing.....I recommend it as a "must read" for all the budding "Marketing Managers'
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