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    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

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    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

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    George Lopez is coming to Spokane – KXLY.com

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    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

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    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

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How Starbucks Devalued Its Own Brand

June 26, 2024
in Business
How Starbucks Devalued Its Own Brand
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Prioritizing goals like efficiency and volume over exceptional customer experiences eroded the company’s strongest selling point.

June 26, 2024

Hyoung Chang/Getty Images

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Starbucks is struggling. It has strayed from its successful strategy of offering customers exceptional experiences and, in the process, has commoditized itself. This article analyzes where it went wrong and offers ideas for how the company can turn itself around. It holds lessons for other companies that compete by providing customers distinctive experiences.

Starbucks is in trouble again. In its last quarterly-earnings report, it announced disappointing results, including a 4% drop in same-store sales (11% in China, its second-biggest market). After that announcement, its stock plunged. (It is still well below its 12-month high.) And its founder and three-time CEO Howard Schultz once again fired off a missive on LinkedIn pleading with Starbucks’ current leaders to rediscover and embrace the company’s core purpose, its reason for existence.

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Louis-Étienne Dubois is an associate professor of creative industries management at Toronto Metropolitan University’s School of Creative Industries.

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Customer Focus Course

Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Customer Focus. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.

Learn how to keep your customers—and their most important needs—front and center.

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Copyright for syndicated content belongs to the linked Source : Harvard Business – https://hbr.org/2024/06/how-starbucks-devalued-its-own-brand

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