Marketing on Starbucks PDF

Marketing
Starbucks Corporation applies a marketing mix (4Ps) that aims to support the position of the
company in the industry and increase the sales of the products offered. The marketing mix
can be identified as a strategy that forms the marketing plan of a company and it contains
four major components which are product, place, promotion and price (The 4Ps) (Thabit &
Raewf, 2018). Starbucks is considered as a company that has been using these components
very effectively to market its products and create an effective brand image. Starbucks is
considered as the strongest coffee brand in the market and its marketing mix supports the
company’s brand development and international growth. Starbucks constantly changes its
marketing mix in order to respond the strategic market changes and compete with the other
companies in the sector. Such marketing strategy helps Starbucks to evolve its different
business operations to achieve sustainable market position against its competitors (Haskova,
2015).
The 4Ps of the marketing strategy allows the company to effectively position its products in
the market. In the case of Starbucks the main products are beverages such as coffee and tea. It
is essential for Starbucks to apply a suitable marketing mix combination to ensure that the
right products are promoted at the right places at the right price (Chang, 2020). Under this
scope, it is essential to examine the marketing mix for coffee and tea products of Starbucks.
Product
The “product” component” of the marketing mix mainly focuses on the services and products
offered by the company. It is essential for the companies to alter their products, if needed, to
ensure they appeal to the consumers in the market (Thabit & Raewf, 2018). Starbucks has
been using this component very effectively, as it constantly renews its coffee and tea range by
introducing seasonal products as well as offering additional flavours to its original products.
Starbucks has been constantly innovatively adding new products to its product mix for many
years in order to satisfy the demands of diverse consumer population in the global markets
(Haskova, 2015).