Starbucks: A Coffee Company with a Global Presence
Starbucks is a coffee company that was founded in 1971 and has its headquarters in Seattle, Washington. The company has a deep awareness of the coffee culture and offers quality items in addition to a nice cup of fresh coffee. It also ensures exceptional customer service. Starbucks is recognized on a global scale for its distinctive market mix techniques, which enable it to outperform all of its rivals. The business keeps innovating its products in order to outperform its rivals in terms of product mix. Once more, it has set itself apart from rival companies through the superior quality of its offerings. The company's primary product categories include tea, pastries, merchandise, and Frappuccino beverages.
Starbucks: Premium Pricing Strategy and Distribution Channels
According to Bashin online site, Starbucks applies a premium pricing strategy. The approach takes advantage of the individuals’ behavioral tendency and perception to purchase expensive commodities as they relate high quality with high prices. The Starbucks’ coffee products are relatively expensive than those of the competing product like McDonald’s Premium Roast. On the places strategy, Starbucks offers its foodstuffs through cafes, online stores, and by using the Starbucks Application to allow the clients to make orders through the internet. Also, Starbucks sells most of its products through the retailers.
Starbucks: Innovative Marketing Strategies
Apparently, the company found that most of its competitors promote their products through print media, TV, radio; hence, it decided to include other promotional strategies besides the obvious one, such as picking several charities or events, which reach the community it serves with its products. As stated by Baker, such a marketing strategy inspires the people inside and outside the firm, reinforcing its value and reputation (379). Again, it uses the internet, such as the social platforms like LinkedIn, Facebook, YouTube, among others. That is why, from its humble origin in Seattle, the Starbucks brand has significantly spread throughout the globe, becoming the best coffee firm in the industry.
Work Cited
Baker, Michael J. Marketing strategy, and management. Palgrave Macmillan, 2014.
Bashin, H. Marketing mix of Starbucks. Marketing 91, December 1, 2016. Web 12tt September 2017.
