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Homework answers / question archive / Starbucks Corporation's Marketing Strategy With the strongest brand in the industry, Starbucks Corporation (Starbucks Coffee Company) shows how an effective marketing mix supports brand development and multinational business growth

Starbucks Corporation's Marketing Strategy With the strongest brand in the industry, Starbucks Corporation (Starbucks Coffee Company) shows how an effective marketing mix supports brand development and multinational business growth

Marketing

Starbucks Corporation's Marketing Strategy With the strongest brand in the industry, Starbucks Corporation (Starbucks Coffee Company) shows how an effective marketing mix supports brand development and multinational business growth. Starbucks changes its marketing mix over time as a way of responding to strategic challenges in the market, including competitive forces involving firms like Dunkin' Donuts, McDonald's, Burger King, and Wendy's. Such changes in the marketing mix emphasize the company's need to evolve its various business operations to maintain effectiveness against growing competition. Starbucks Corporation continues to innovate its product mix to capture more of the food and beverage market. The company adds or modifies product lines, with the aim of expanding its market reach and growing its market share. The following are the main categories of Starbucks products: coffee, tea, baked goods, Frappuccino, smoothies, other foods and beverages, and merchandise (mugs, instant coffee, etc..). Starbucks Coffee Company's product mix is a result of years of business innovation. For example, the company added the Frappuccino line after it acquired The Coffee Connection in 1994. The business also has an ongoing product innovation process that aims to offer new products to attract and keep more customers, especially because the business must attract a diverse population of customers in the international market. Thus, this part of Starbucks' marketing mix involves beverages, foods, and merchandise that are carefully selected or designed to satisfy the needs and preferences of target consumers worldwide. Starbucks offers most of its products at cafés or coffeehouses. However, there are various other places or channels of distribution available for these products. In this case, the following are the main venues or places that Starbucks Corporation uses to reach its target customers: Coffeehouses/Cafés, retailers, and mobile apps. Initially, Starbucks sold its products through coffeehouses. Eventually, the company offered some of its products through its online store. This approach served as a major integration of e-commerce into the company's strategies. However, Starbucks ended its online store operations in 2017. The strategic change reflects the company's shift to focus on in-store experience in brick-andmortar coffeehouses. Nonetheless, some of Starbucks' merchandise items are available through retailers. On the other hand, mobile apps allow customers to conveniently place their orders online so they could easily get their food and drinks at the company's coffeehouses. This part of Starbucks' marketing mix shows how the firm adapts to changing times, technologies, and market conditions. Starbucks Corporation promotes its products through interpersonal relations and communications, although advertising is also part of the promotional approach. In this case, Starbucks' promotional mix is as follows: word-of-mouth marketing, advertising, sales promotions, and public relations. Starbucks became popular primarily through word-of-mouth marketing. In the marketing mix, word-ofmouth usually focuses on providing the best customer experience in order to encourage people to spread positive words about the business. The company also advertises its products through television, print media, and the Internet. Sales promotions are used in Starbucks Rewards, which is a program involving freebies that customers can avail after purchasing a certain amount of the company's products. The corporation infrequently uses public relations, which has not always been successful for the business. For example, the Race Together public relations campaign was widely criticized. Still, the Starbucks Foundation continues its efforts to solve various challenges in society. The Foundation helps communities, while promoting the company's brands. This part of Starbucks Corporation's marketing mix shows the core significance of word-of-mouth marketing, advertising, and the supporting roles of public relations and sales promotions for the coffeehouse chain business. Starbucks uses a premium pricing strategy. In the marketing mix context, this pricing strategy takes advantage of the behavioural tendency of people to purchase more expensive products based on the perceived correlation between high price and high value. The company's coffee products are more expensive than most competing products, such as McDonald's Premium Roast. Through this pricing strategy, Starbucks maintains its high-end specialty image. Still, the company strives to develop and provide high quality products and satisfactory customer experience in its coffeehouses. 


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Q1) Which of the following statements about economic systems is true?
a. Command economies are most effective for countries with large and complicated varieties of goods and services.
b. The United States is a good example of a command economy.
c. Branding is less common in a market-directed economy than in a command economy.
d. Consumers usually have more freedom of choice in a market-directed economy.
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Q2) The marketing concept says that it is a firm's obligation to improve its positive effects on society and reduce its negative effects.
Select one :
True
False
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Q3) Identify the elemnts of the marketing strategy in the case "Starbucks".


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Q4) To develop lasting relationships with customers, marketing-oriented firms need to focus on customer satisfaction both before and after each sale.
Select one:
True
False
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Q5)The new marketing manager of starbucks was asked to type a marketing plan for the next 2 year. he decided to cancel the promotion budget since he thought "it is the strongest brand in the industry and customers are already familiar with the brand". do you agree with the stategic decision? explain
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Q6)Customer satisfaction is the extent to which a firm fulfils a sonumer's:
select one:
a. need
b. desires
c. expectations
d. all of the above
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Q7)What would you add to the analysis to type a marketing plan for starbucks?


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Q8)A firm with marketing orientation:
Select one :
a. sells what it can make easily
b. has little need for salespeople
c. focuses advertising on product features
d. tries to determine customers needs before developing its product
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Q9)Which of the following illustrates the marketing concept in action
Select one :
a. three pediatricians set up a group practice-- so that at lease one is always availabe for emergencies
b. bank ATMs that dispense cash are placed in fast-food restuarants
c. the nevada auto registration office mails licens tags to people , to reduce inconvenient waiting line.
d. a veterinarian has office hours in the evening to see pets whose owners must work during the day.
e. all of the above
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Q10) What are the main components of a marketing strategy ( in general )?


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Q11) Which of the following statements best describes the modern view of marketing?
Select one:
a. Marketing is only necessary for profit-oriented firms.
b. Marketing anticipates customer needs.
c. Marketing begins as soon as products are produced.
d. Marketing consists mainly Of advertising and personal selling.
e. Firms that don't rely on e-commerce should put more emphasis on marketing.
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Q12) During the "production era" a company focuses on production—because few products are available in the market.
Select one :
True
False
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Q13) The three basic ideas in the "marketing concept" are:
Select one.
a. customer satisfaction. marketing manager as chief executive, profit.
b. resource efficiency, sales growtm profit maximization.
c. customer satisfaction, total company effort. profit.
d. customer satisfaction, total company effort, sales growth.
e. customer satisfaction, resource efficiency, sales maximization.


Q14) The marketing concept cannot be applied to nonprofit organizations because they are not profit-oriented.
Select One:
True
False
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Q15) Offering superior customer value is especially important when competition is intense.
Select one:
True
False
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Q20) Explain briefly the concept of customer value.
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Q21)__________ , Involves sorting products according to size and quality.
Select one:
a.      Transporting and storing
b.      Marketing
c.      Buying
d.      Financing
e.      Standardization and grading


Q22) Marketing will not happen unless:
a.      An economy is market-directed rather than command
b.      Collaborators are present to simplify exchange
c.      E-commerce is flourishing
d.      Two or more parties each have something they want to exchange for something else
e.      Middlemen are present to facilitate exchange
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Q23) In a market-directed economy, consumers enjoy complete freedom of choice
Select one :
True
False
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Q24) Looking at marketing as a set activities focuses on
Select one:
a.      For-profit marketing
b.      Micro-marketing
c.      Macro-marketing
d.      Personalized marketing
e.      Nonprofit marketing


Q25) " Economies of scale" means that as a company produces more of a product the total cost of production goes up
Select one:
True
False

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