Starbucks Coffees Marketing Mix (4Ps) Analysis
A Starbucks caf in Warsaw, Poland. Starbucks Coffees marketing mix (4Ps) equally emphasizes product, place, promotion and price to support the companys brand image and competitive advantage. (Photo: Public Domain)
Starbucks Coffee Companys marketing mix (4Ps) supports the companys industry position as the leading coffeehouse chain in the world. The marketing mix identifies the main components of the firms marketing plan. Starbucks uses its marketing mix as a way of developing its brand image and popularity. With the strongest brand in the industry, the company shows how an effective marketing mix supports brand development and business growth. Starbucks also changes its marketing mix over time, thereby emphasizing the need for the business to evolve its various aspects to maintain competitiveness.
Starbucks Coffees marketing mix (4Ps) indicates the importance of this marketing tool as a way of ensuring that the firm promotes the right products at the right prices and places.
Starbucks continues to innovate its product mix to capture more of the market. This component of the marketing mix focuses on what the business offers to customers. At present, the following are the main categories of Starbucks products:
This product mix is a result of years of business innovation. For instance, Starbucks added the Frappuccino line after it acquired The Coffee Connection in 1994. The company also has an ongoing product innovation process that aims to offer new products to attract and keep more customers. Thus, this part of Starbucks marketing mix involves beverages, food, and merchandise.
The company offers most of its products through Starbucks cafs. This component of the marketing mix determines the venues at which customers can access the products. In Starbucks Coffees case, the following are the main places used for the distribution of products:
Originally, the firm sold its products through Starbucks cafs. Through the Internet, the company now offers some of its products through the online Starbucks Store. Also, the firm now sells some merchandise through retailers. In addition, the company uses the Starbucks App to allow customers to place their orders. This part of Starbucks marketing mix shows how the firm adapts to changing times, technologies, and market conditions.
Starbucks promotes its products mainly through advertising. This component of the marketing mix refers to the communication strategies used to disseminate information about the firm and its products. Starbucks promotional mix is as follows:
The company advertises its products through television, print media and the Internet. The company infrequently uses public relations, which has not always been successful for the business. For example, StarbucksRace Togetherpublic relations campaign was widely criticized. In addition, the firm uses sales promotions, such as the Starbucks Card that customers can use to get freebies. This part of Starbucks marketing mix shows the core significance of advertising, and the supporting roles of public relations and sales promotions for the company.
Starbucks uses a premium pricing strategy. This pricing strategy takes advantage of the behavioral tendency of people to purchase more expensive products on the basis of the perceived correlation between high price and high value. The companys coffee products are more expensive than most competing products, such as McDonalds Premium Roast. Through this pricing strategy, the company maintains its high-end specialty image. This part of Starbucks Coffees marketing mix directly relates withthe firms generic strategy, thereby helping the business maintain its premium brand image.
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Case Study & Case AnalysisMarketingMarketing Mix (4Ps)Starbucks CoffeeStrategy
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