Starbucks is one of the most recognized brands in the world. Since 1971, Starbucks has become synonymous with coffee that has embodied the brand and created a lifestyle behind it. Starbucks wants the world to know that it has more to offer than coffee and is committed to meeting the needs of society. “We are not just passionate purveyors of coffee, but everything that accompanies a complete and rewarding coffee shop experience. It's not unusual to see people come to Starbucks to chat, meet, or even work” (Starbucks). In addition to coffee, Starbucks locations maintain a customer base by offering free Wi-Fi, music and partnerships with Barnes and Nobles across the country. Starbucks is aware that the competition is gaining ground as many fast food chains have updated their coffee menus trying to imitate their style. They are also opening coffee shops/shops that have adopted the community idea and have become equally popular and profitable. The company realized that it had reached a plateau and needed to develop new marketing and marketing strategies to be competitive, retain and acquire customers. To remain competitive, companies must remain innovative and reinvent their brand as society changes. A company that focuses on one benefit can limit its profit potential. Starbucks recently decided to expand its potential and enter the market by adding wine, beer and small appetizers to the evening menus of its independent establishments. This move is one of the riskiest initiatives to date, to make it possible that Starbucks marketing executives want to use its most intangible asset “the brand”. The brand name may be intangible (literally, it can't be touched), but it's a durable good whose value increases as consumers associate it with... middle of the paper... internationally it's what Starbucks wants maintain. The need to satisfy all customer needs will give Starbucks the ability to endure in any new venture. Works Cited (n.d.). Retrieved from http://www.starbucks.com/about-us/company-informationMichaeals, R. (2011). Transaction economics and strategies for management. (1 ed.). Mason: Cengage Learning.Hororvitz, B. (2010, October 22). Starbucks is remaking its future with an eye on beer and wine. USA TODAY. Retrieved from http://www.usatoday.com/money/industries/food/2010-10-18-starbucks18_CV_N.htm(nd). Retrieved from http://www.fda.gov/Food/GuidanceComplianceRegulatoryInformation(nd). Retrieved from http://.ehow.com/info_7793849_b2b-vertical-relationships.htmlHitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2011). Strategic management concepts and cases. (9th ed., p. 14). Ohio: Cengage Learning