Starbucks marketing
Brief history of the term “marketing-mix” 1964’ Neil H. Borden published “The Concept of the Marketing Mix” “Marketing-Mix” included: product, planning, price, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding analysis
Brief history of the term “marketing-mix” 1940’s James Culliton “marketing manager=mixer of ingredients”
Brief history of the term “marketing-mix” E. Jerome McCarthy grouped each aspect into 4 categories The 4P’s of Marketing: product, place, price, promotion
The 4 P’s of Starbucks Marketing 1. Product Must meet customer requirements Products should meet expectations The goal is to satisfy consumers needs
The 4 P’s of Starbucks Marketing 1. Product Starbucks is known for one product: extremely good coffee No more breakfast sandwiches because does not compete with coffee aroma
The 4 P’s of Starbucks Marketing 2. Price Discounts, financing Price decisions: profit margins and response of competitors Determined by the quality of the product and the target consumers
The 4 P’s of Starbucks Marketing 2. Price Starbucks has achieved the highest price point for cofee in the restaurant industry Consistent high quality beverage Threat of competitors: McDonald’s- McCafe Dunkin Donuts- Dunkachino Starbucks counter offer: $1 cofee item
The 4 P’s of Starbucks Marketing 2. Price
The 4 P’s of Starbucks Marketing 3. Place Channels of distribution Distribution decisions include market coverage, channel member selection, logistics, and levels of service
The 4 P’s of Starbucks Marketing 3. Place Starbucks has strategically located its retail locations Target potential customers
The 4 P’s of Starbucks Marketing 3. Place College campuses Irreplaceable real estate Helpful mobile applications with store locations
The 4 P’s of Starbucks Marketing 4. Promotion Business of communicating with customers Promotion decisions involve advertising, public relations, media types Successful promotion increases sales
The 4 P’s of Starbucks Marketing 4. Promotion Starbucks is an overall success story when it comes to promoting their products and services Brand image: “the third place”, unique & relaxing atmosphere
The 4 P’s of Starbucks Marketing 4. Promotion Use technology to promote their brand Social Media Marketing: Facebook daily notices Free wifi Loyalty cards
Starbuck’s ads Starbucks: Make a Difference. Take The Pledge: http://www.youtube.com/watch?v=KRFofwu-0o4 Starbucks new TV advert, UK: http://www.youtube.com/watch?v=19r4I70fZRU Starbucks "Mondays Can Be Great" Campaign: http://www.youtube.com/watch?v=sj5NxPryPXE
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