Question

In: Finance

What need state does Starbucks satisfy for the consumer. Summarize how Starbucks meets the 4 conditions...

What need state does Starbucks satisfy for the consumer.
Summarize how Starbucks meets the 4 conditions for an exchange to occur.
Summarize Starbucks implementation of the 4 variables of the Marketing mix (Product, Price, Place & Promotion).

Expert Solution

Starbucks

it is an American coffee company and coffee house chain.it is the leading coffee company in USA as fell as world .there are some marketing mix it is leading to top in Starbucks to other industry such as price,place ,product and promotions.using this they can devoleping theirs brand image and wide range of popularity . let's discuss what are the marketing mixtures using Starbucks in detail

4 P'S of Marketing Mix

product
Price
Place
Promotions

Product

This marketing mix is mainly focusing on to introduce wide veriety of products with an aim of expanding and capturing the market.following are the main categories of Starbucks products

a)Coffee

Seasonal favourite
Medium Roast
Flavoured coffee
Eilnod Roast

b)Fresh food items

Fruit cups
Oatmeal
Sandwich
Backed pastries
Yogurt pastries
Salads

c)Handcrafted Beverages

Frappuccino coffee and non - coffee blended beverages
Fresh - brewed coffee
Tazo teas
Hot and iced espresso beverages
d) Ice creams
Super premium coffee
Coffee- free

e) Merchandise

Coffee and tea brewing equipment
Mugs and accessories
Packed goods
Gift items

These items are carefully selected or designated to satisfy the needs and preferences of target consumer worldwide.

Price

They mainly using premium pricing strategy.it uses to know the tendency of people buying behaviour on expensive product high price and value.

The main reasons for having higher prices on their product are increase price in fuel energy,and political economical social and technology changes,and fair trade movement

Place

There are several ways to avail the services of Starbucks.the following are the main venue to access the customers.

a)Mobile Applications

b)Retailers

c)cafe

They are mainly arranging venues like Airport,malls,and railway station,and business park etc.

Promotion

This component is mainly using communication strategies for reaching the information about the company.to make an awareness of the product among customers. Starbucks promotional mix are follows

a) Advertising

b) Personal selling

c) public relations

d) Sales promotion

Advertising:

Tv
Broucher
Newspaper
Internet (social medias)
Bill board
Nation wide coffee break

Personal selling:

Starbucks mist create an intensive to retain and reward baristas
It must continue to be the very best

Public relation:

Can be change un promotions in conjunction with contribution

Sales promotions:

Return on intensive card
Tie with public relations
Loyality program
Daily coffee break
Pass the cheer
Sample van
Viral videos
Holiday website

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