Assignment on Management Sample
19 Pages5811 Words147 Views
Added on 2021-05-27
Assignment on Management Sample
Added on 2021-05-27
ShareRelated Documents
Running head: MANAGEMENTManagementName of the University:Name of the Student:Author Note:
1MANAGEMENTUnit 3 Discussion Topic 1After reviewing the marketing mix and segmentation of Tim’s coffee shop, Starbucksis selected as a global company to apply the 4P’s of marketing mix. Starbucks: 4P’s of marketing mixProductStarbucks, a leading coffee brand on an international level, offers the customers withan amazing and unmatchable experience of food and beverages. Although being a coffeespecialist, they are trying to attract different set of customers with their experiment in thefood items. They categorize their products in the form of roast, format, caffeine and flavor. Price Starbucks is a popular brand for selling premium quality of coffee. Therefore, theprices for the products are justified by considering the high-end technologies and the widevarieties of coffee aimed at providing the best customer experience. Initially Starbucksentered the market with low price to reach out to those customers who cannot afford highpriced coffee. They have not only maintained competitive pricing in marketing mix but alsorelative pricing strategies to maintain loyal customer base and a superior brand identity(Huang & Sarigöllü, 2014). Place This high- quality coffee brand is located in 70 countries including North America,Oceania, Africa, Europe, Asia and South America. Most of its outlets among the 5000licensed ones are situated in USA. It also has a developed website to inform the customerabout the product categories and the price range along with other details. The entire menu isavailable on the website as well as the locations, specialty stores, customer benefits, etc.
2MANAGEMENTPromotion The company focuses on their brand promotion through different channels such asonline, television, print media and others. Their community programs such as Swastha andChai project is an ethical activity for the benefits of the farmers and use of eco- friendlytechniques. Their promotional activity has used the ‘tweet- a- coffee’ campaign, ‘myStarbucks idea’ feedback system, loyalty programs and gift cards to attract more customers(Datta, Ailawadi & van Heerde, 2017). Market segmentationStarbucks has used market segmentation to identify the target customer from thepublic. They have made geographic segmentation in terms of region such as US, Europe, etc.and targeted the urban density. The demographic segmentation in terms of age and gender istargeted towards male and female of age group 22- 60. Behavioral segmentation includedloyalty and the benefits such as a place to work, chat and relax. Psychographic segmentationis done based on social strata and lifestyle (Ryan, 2016). Discussion 2After going through chapter 11’s pages 338 to 342, it can be observed that innovationin the breakfast menu by adding quiches and fruit smoothies will help them to attract morecustomers in the store. It will be a good fit for the marketing mix and they should widen thetarget market too. They should include more items in the lunch and dinner menu as wellkeeping in consideration their opening and closing time. They should include more varietiesin the product sizes, which will cater to the needs of the customers and improve their servicequality in order to retain loyal customers (Ottman, 2017).
3MANAGEMENTUnit 4 Discussion TopicAfter watching the video in the learning activity, it can be mentioned that digitalmarketing in the form of internet advertising would be better out of all the marketingstrategies to focus on the consulting business in the local market (Pappas, 2016). As themanagement consulting is a start- up business, therefore it can be stated that they will nothave large funds or prior reputation to reach the target market. Therefore, they will displaytheir services on the internet in various social media platforms and in the company website.The market segmentation will be done based on demography such as age group, incomelevel, and occupation and psychography such as attitude, personality and lifestyle. Whileimplementing the plan and strategies, the products and services of the small businesses willbe considered to find out the ways in which they can benefit the company. The internetmarketing will focus on the unique innovations created by the struggling companies with thehelp of the management consultancy (Solomon et al., 2014). This will spread good reputationabout the consultancy as well as the small businesses. This will help in the growth of thestart- up management consultancy with the use of digital marketing. As there are no rivalcompanies in the community, therefore they have the advantage of getting benefits from thetarget market. Improvement in their services will help them to get hold of the potentialcustomers too. Leadership is important to convince the marketing team of the managementconsultancy firm for implementing the marketing strategy within the firm. In order to do so,transformational leadership will be best suited for letting the teams do what is actually neededby the organization (Avolio et al., 2016). This type of leadership style is aimed at initiatingchange in the organization; therefore, it will be appropriate in implementing the newmarketing strategies in the organization. It is the responsibility of the transformational leadersto motivate the team to work hard than it is actually required for better outcomes. More
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing analysis of Starbuckslg...
|17
|4194
|52
Brand Report card of Starbucks PDFlg...
|9
|1321
|203
Marketing Essentialslg...
|19
|1296
|46
Marketing Essentials - Tesco Assignmentlg...
|2
|1644
|51
Retail Customer Orientationlg...
|16
|4224
|98
Marketing & Management - Growth Strategy of Starbuckslg...
|8
|1663
|494