SHS Web Conf.
Volume 91, 2021Innovative Economic Symposium 2020 – Stable Development in Unstable World (IES2020)
|Number of page(s)||10|
|Section||Stable Development in Unstable World|
|Published online||14 January 2021|
The Importance of Probabilistic Analysis in the Application of the Marketing Strategy of the Selected Brand
University of Zilina, Faculty of Operation and Economics of Transport and Communication, Department of Economics, Zilina, Slovak Republic
* Corresponding author: firstname.lastname@example.org
Entering foreign markets can be an opportunity for some brands. Expansion contributes to developing competitiveness, building a brand and increasing profits, which will be reflected in overall business performance in a market environment. In this article, we elaborate on the identification data of the Starbucks brand. We identify the international environment and the current marketing strategy of the brand. We also focus on defining its marketing performance with regard to the application of the current strategy in the international environment when entering the target foreign market. Based on the analyzed data on the brand and performance, we approach the probabilistic analysis in order to identify the right foreign market. The performed analysis consists of two basic stages. The first step is a rough selection analysis and a fine selection analysis. In the discussion part, we define the advantages and limitations of the brand’s entry into a new foreign market. We support the individual statements with the results of a coarse and fine selection analysis. We also describe the use and limitations of the brand’s cooperation strategy in the future. In the final part of the article, we identify the identified statements with the current marketing strategy and suggest the direction of its development when entering a new foreign market.
Key words: Starbucks / marketing strategy / probabilistics analysis / foreign markets / brand
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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