BBS301 Key factors that affect Starbucks’ ‘Ethically Sourced’ Products
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- Course Code: BBS301
- Course Title: Applying Mixed Methods Research to business
- Referencing Styles: Chicago
- Words: 2000
- University: Singapore University of Social Sciences
- Country: SG
Phases 2 review the individual literature assignment Founded in 1971, Starbucks has grown from a single market stall to a national, multi-channel retailer. Starbucks operates over 30,000 locations worldwide and is recognised for its ethical practices. The company has committed to providing ethically sourcing and roasting high-quality arabica coffee since 1971. By 2020, it aims to offer 100% ethically sourced tea and cocoa. Some investors are questioning the viability of this strategy.
They are questioning whether the moves to ‘ethically sourced’ products will have a negative impact on their investment and whether consumers are discerning when it comes to buying their drinks. The company has hired you as a consultant to conduct some research and deliver a series of recommendations. They wish to find out more about this target market of ‘ethical consumers’. To justify the intended Business Strategy, they want to know if people who say they are concerned about the ethics of consumption, actually turn these concerns into purchasing decisions. They also want to find out more about the viability of, and strategies for, increasing this target market.
You will need to present substantial evidence using primary and secondary research to back up your claims and recommendations, as the results from your research may influence the direction of Starbucks in the future Research Problem Starbucks aims to offer 100% ethically sourced tea and cocoa in 2020 and would like to find out if it is financially viable for them to switch to ‘ethically sourced’ products, and if there is a demand for ‘ethically sourced’ drinks. Research Question What are the key factors that affect Starbucks’ consumers to buy ethically sourced products?