Star Bucks Essay

In: Business and Management

Submitted By inspireme75
Words 3233
Pages 13
Business Research Methods, 11e, Cooper/Schindler
In the very mature financial services industry, it is rare for a new financial product to garner much attention, let alone be named one of BusinessWeek’s outstanding products of the year. But what started as a way for Starbucks to add value to its existing Starbucks Card program developed into a financial product that many other institutions are interested in exploring. This case reveals the research that was done to develop this new payment option for Starbucks customers.;;
>The Scenario
Starbucks Coffee Company is the leading retailer, roaster, and brand of specialty coffee in the world, with more than 7,500 retail locations in North America, Latin
America, Europe, the Middle East, and the Pacific Rim.1 It has long prided itself on offering an enriched customer experience as much as on great-tasting, highquality coffees. The company’s prepaid stored-value card, known as the
Starbucks Card, has been a tremendous success since its launch in late 2001. By
2002, Starbucks was looking to evolve the program. Colette Courtion, Director of Starbucks’ global card services, indicates “We had been regularly enhancing the Starbucks Card with new benefits for its ongoing use—like protecting the
Card’s balance and adding auto-reload [a process whereby the customer has his or her selected credit card charged for reloading the Starbucks Card with spendable cash when the Starbucks Card reached a predetermined level], but we wanted to build on the Card’s success in a way that would reward our loyal customers.”2 Similar to other businesses’ cards, Starbucks prepaid, stored-value card can be used in its stores to purchase food, beverage and merchandise. Many
Starbucks customers reload their Starbucks Cards for ongoing purchases at

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