http://homework-aid.com/MKT-450-Week-3-Individual-ResearchMethodologies-1690.htm?categoryId=-1 Starbucks executive management team has been working diligently to begin operations in Mexico. There are many reserves and tactics the management team can implement to maintain a prosperous business venture in Mexico. The management team will clearly affirm the purpose of their research for the business plan. Also, the marketing operation for Mexico will utilize current databases, focus groups, and surveys to create the optimal strategic plan for the new Starbucks stores in Mexico. It is important that the management team makes the most use of primary and secondary data, collects the right data, and in the end examines the data efficiently. With an assortment of research methods it will be necessary to pinpoint what problems or concerns are at hand to construct a well-informed assessment. The management team will make travels from the United States to Mexico to study Mexico’s culture, demographics, and demand for Starbucks main product which is caffeinated beverages. Globalization has opened a wider market for goods and services; the hospitality industry is one beneficiary of the enlarged global business market. When venturing in an international market, managers should ensure they have developed an effective market entry strategy, and improve the strategies to assist the company to get a competitive edge in the foreign market. To come-up with responsive marketing strategies, marketers need to undertake a marketing research on the specific issues likely to shape marketing in the foreign country (Kotabe&Helsen, 2004). Starbucks is the world’s number one coffee and coffeehouse company. It is situated in 55 countries; on 30 March 1971 Jerry Baldwin, Zev Siegl, and Gordon Bowker are respected as the founders of the company. The company wants to expand its service to Mexico. Mexico is one of the largest Latin American countries in size and economy; the county’s population and their economic standing can offer Starbucks expansive markets if the company is able to market its products successfully.
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