Marketing Mix Poster for Business Management Course FY021

This assignment presents a detailed analysis of Starbucks' marketing mix, focusing on the key elements of Place, Promotion, Product, and Price. The solution explains how Starbucks strategically utilizes its store locations (Place) for customer convenience, employs digital marketing and sales promotions (Promotion), offers a diverse product line (Product), and implements a premium pricing strategy (Price) to maintain its brand image. The assignment references relevant sources to support its claims. The assignment is a poster that is part of a portfolio for a Business Management course at BNU, and it addresses the marketing mix components as part of a broader introduction to business studies. The assignment also includes definitions of marketing and discussions of its evolution and importance.

MARKETING MIX
Place- It refers to location or place where company products are
available. Thus, Starbucks products are available at their store.
The stores are located at various regions and market such as in
malls, high street, and many other areas. so, it becomes convenient
for people to buy the products easily.
Promotion- This P refers to the way in which company do
promotion. So, Starbucks promote it in different ways. they use
digital marketing to advertise and in that social media platforms
are used. Along with it, they do sales promotions as well like
offering discounts, giving offers, benefits etc, to people. in
addition, advertising is done on TV, newspaper etc to attract
people,
Product - this is P in which there are various types of products of
Starbucks. They offer several products such as coffee, tea,
smoothies, etc. to people. generally, it is a product mix which
contain all type of varieties. with this company is able to expand
in its product line and market share. However, with innovation
Starbucks is adding new products in their mix.
Price – in this it refers to pricing strategy which is followed by
company. therefore, Starbucks follows premium pricing strategy.
it is because 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
References
Išoraitė, M., 2016. Marketing mix theoretical aspects. International journal of
research granthaalayah, 4(6), pp.25-37.
Ismail, M., Zainol, F.A., Daud, W.N.W., Rashid, N. and Afthanorhan, A., 2018.
Application of Entrepreneurial Marketing to the Marketing Mix: Why it Matters to
SMEs in Malaysia?. International Journal of Academic Research in Business and
Social Sciences, 8(12).