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HS

Howard Schultz

06/04/24

@ Acquired

Starbucks' decision to sell coffee in Costco significantly increased brand awareness and drove more customers to Starbucks stores.

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A

Starbucks (with Howard Schultz)

@ Acquired

06/04/24

Related Takeaways

HS

Howard Schultz

06/04/24

@ Acquired

The introduction of Starbucks in grocery stores was a key strategy to capture additional revenue and build brand awareness beyond our coffee shops.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks has successfully created a coffee culture that attracts consumers who may not have engaged with coffee otherwise, expanding the market.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks' approach to employee retention mirrors Costco's, emphasizing that it's more cost-effective to retain existing employees than to train new ones.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks became the first experiential brand at scale, relying on customer experience rather than traditional marketing.

HS

Howard Schultz

06/04/24

@ Acquired

The iconic Starbucks cup became a badge of honor, contributing to brand visibility and customer pride.

HS

Howard Schultz

06/04/24

@ Acquired

The coffee culture in America during the early 1980s was dominated by low-quality instant coffee, and Starbucks aimed to educate customers about high-quality coffee.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks built its reputation primarily through word of mouth, without spending on traditional marketing, by surprising customers in unexpected places.

HS

Howard Schultz

06/04/24

@ Acquired

The quality of coffee and the experience of drinking it were key to positioning Starbucks as an affordable luxury.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks' success is rooted in creating a community space where people connect over coffee, which was a novel concept in the U.S. at the time.