Business Management Report: Starbucks Marketing Strategies Analysis

This report provides an overview of Starbucks' business management and marketing strategies. It begins by defining business management and its importance, then focuses on Starbucks' marketing approach. The report examines the company's target market, which includes young adults and adults aged 25-44, and analyzes the marketing mix elements: product, price, place, and promotion. It highlights Starbucks' premium pricing strategy, its focus on accessible locations, and its approach to promotion. The conclusion emphasizes the importance of the marketing mix in communicating with the target market and achieving a competitive advantage. References to relevant academic sources are included.

Introduction to business and
management

 Introduction
 Main body
 Conclusion
 References
Table of content

Business management refers to the act where large number of people
organised in such a manner that they can attain their goals and objectives
in an effective manner. There are different types of business functions
which need to be performed by management team in order to accomplish
their goals.
Introduction

 In every business entity there are various functions associated so that they
can run their business in a smooth manner. marketing is the key function
which help business entity in order to attract new customers and retain
their existing loyal consumers for a longer period of time duration.
Marketing is a universal function which involves around selling, buying,
transporting, taking risk and many more.
Main body

 Target market: A target market defines as a subset of total or whole market
for a specific product or service offered by business organisation at the
competitive marketplace. In the present context of Starbucks, target market
for the company is men and women mainly comes under the age group of
25-44 as well as young adults from the age group of 18-24.
 Marketing function: It refers to a role with the help of which every
organisation can easily examine as well as source potentially successful
goods & services and promote them by differentiating them to other
products offered in similar industry.
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All the 4 P’s are going to be explained in detail along with their target market
as follows:
 Product: Starbucks is one of the fastest leading and biggest coffee
company in the world and provide unmatched experiences to their
customers.
 Price:It refers to the strategy where Starbucks provide their products to the
customers at premium price.
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 Place: It refers to element which
defines the venue or location from
where customers can easily access
their products and services.
 Promotion: If talked about
promotion, Starbucks didn’t invest
too much on promotional activities.

 With the assistance of above information, it has been concluded that
marketing is one of the key essential factor which help in attaining ample
number of opportunities at the marketplace. The main aim behind doing
marketing mix is to easily communicate with their target market and attain
competitive advantages at the market in an effective manner.
Conclusion

 VomBrocke, J. and Mendling, J., 2018. Business process management
cases. Digital Innovation and Business Transformation in Practice. Berlin
et al.: Springer.
 Festa, G., and et. al., 2016. The (r) evolution of wine marketing mix: From
the 4Ps to the 4Es. Journal of Business Research, 69(5), pp.1550-1555.
 Al Badi, K.S., 2015. The dimensions of marketing mix. Journal of
Management and Organizational Studies, 2(1), pp.136-142.
References

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