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Starbucks is the leading brand in the fast food market specialized in the sale of beverages in the world.
The value of the Starbucks brand has been consolidated by the roots that this business model has in the consumer and knowing the origin of its name explains much of its value in the market.
Starbucks is a brand that has been consolidated over time, as a benchmark of how important a good name is.
The co-founder of Starbucks, the most trusted source we have to know the origin of the word Starbucks, confessed the worst mistake they were going to make when baptizing the business and how did the popular Name of a brand, which to date has established itself in the market with great success.
Gordon Bowker was being interviewed for The Seattle Times and in it he assured that the Name The original name of the chain was going to be “Cargo House”, because they were desperate in search of the correct name, going to all kinds of sources to find it.
The key to find starbucks is that first they were convinced that they needed powerful words, so the name had to start with “St”.
It was then that the clarity came, when Bowker received a person with a mining map where a town called “Starbo” appeared, which immediately attracted Bowker’s gaze, which immediately led him to think of Starbuck, the character of Moby. Dick, a story that in its film version portrays him as a coffee lover.
Within the restaurant market, according to the latest Brand Finance projection, Starbucks is the most valuable brand worldwide, with nearly 46 billion dollars.
The estimate made for this 2022 exposes McDonald’s and KFC as the second and third most valuable brand in the international restaurant market.
In this environment, the consolidation of Starbucks has allowed a business that was inspired by a place like Seattle, Washington, to become synonymous with global excellence when it comes to launching a successful brand.
The name of Starbucks at the time
starbucks has demonstrated a very important point and that is that the brand has demonstrated a unique ability to understand the market, in a very important adaptation exercise, which is to understand the consumer.
For Starbucks, it has been key to adopt relevant tasks, from which it has been able to integrate as a cafeteria not only in avenues, like any commercial premises, but also adapting to cruise ships, cinemas and various formats that are not wasted and have great commercial potential.
The origin of Starbucks and the adaptation of the competition
Before the emergence of starbucks, the brand value has consolidated the fast food industry specializing in beverages. In order to cope with the chain, brands like Dunkin have specialized in the sale of beveragesso that their offer of donuts is complementary and they have taken this evolution of their business to the name change, demonstrating how important it is to communicate with the consumer from this.
There is no doubt that in the midst of these exercises, brand building proves how important it is to think of a solid identity that distinguishes it and, above all, define a good brand name, otherwise it will not be successful in sales.
Originally from Seattle, Washington, Starbucks is today a business model of great international value.
The evolution of Starbucks over time
An important change that we have seen in the business model of starbucks Throughout this time, the brand has gone from being exclusively a franchise with the aforementioned name, to a business model with opportunities to purchase categories such as “We Proudly Serve”.
This model allows stores or shopping centers to obtain permission from Starbucks, to be able to offer branded coffee in a small variety of options and thereby establish better consumption options for the consumer.”