Marketing Analysis Marketing Mix - 2079 Words

3.0 Marketing Strategy 3.1 Marketing Mix The portion of Strabucks marketing is reflecting the social aspects of their customers, while the other portion is focused on rebranding of their locations. Starbuck s marketing mix(4P s) indicates the importance of this marketing tool as a way to ensure that the firm promotes the right product at the right place and with right pricing. 3.1.1 Product/Service The customers demand Starbucks to be innovative. Starbucks is focusing on the food side of the business. It would be very beneficial for the Starbucks to focus on their in-store items or baked goods. The test locations have already started to follow on this trend, and have provided positive feedback and results. Starbucks is continuing†¦show more content†¦3.1.2 Price Starbucks follows a premium pricing strategy. This pricing strategy takes advantage of the behavioral pattern of people to purchase more expensive products on the basis of the perceived correlation between high price and high value. The company’s coffee products are more expensive than most competing products, such as McDonald’s Premium Roast. Through this pricing strategy, the company maintains its high-end specialty image (Greenspan, 2015). Starbucks is not only a high-priced coffee shop but it offers a combination of quality, authority, and relative value. Starbucks sets its prices on the basis of a simple idea: high value at moderate cost. When people feel that they are getting a good deal for their money, they are more likely to pay a higher cost. Quality is key. Starbucks has to maintain strict quality controls in its coffee sourcing as well as in its customer service and related products to justify its costs (O Farrell, n.d.). Starbucks pricing strategy also depends on how it positions itself as an authority on coffee, which is allowing the company to charge premium prices. Thus, when Starbucks introduces new products at higher prices, consumers are willing to pay extra without even having tried the products because they associate the Starbucks name with high quality (O Farrell, n.d.). Starbucks alsoShow MoreRelatedMarketing Mix and Pestle Analysis of Mcdonalds in India3095 Words   |  13 Pagesafter the western operations in India.    The taste of the Chicken burger that one from Bangalore will be similar to that in Delhi if the point of purchase is Mc Donald. Mc Donald has become an integral part of today’s Indian metros.    PESTLE ANALYSIS    Pestle analysis is the done to analyze the macro environmental factors of a company or Industry.      Political Factors    The operation of any international company would be influenced by the local regional policy and rules. Similarly Mc Donald’s India isRead MoreMarketing Mix Analysis, And s Growth Matrix3309 Words   |  14 Pagesaddress and highlight strategies such as: Porters five forces, Marketing mix analysis, and Ansoff s growth matrix. These strategies are all useful tools companies use in order to become better companies and increase sales. At the end I will state my opinions on the company Beats. Table of Contents I. Executive Summary Page 3 II. Introduction Page 5 III. Main Features IV. Porter Five Forces Analysis a. Industry Competition b. Threat of Potential Entrants c.Read MoreSwot Analysis : Marketing Mix Strategy1227 Words   |  5 Pagesrate. (Tootelian et al, 2012 ABS, 2011). Marketing Mix Strategy. The marketing mix is the usual ways of controlling, planning marketing equipment’s that an organisation or a company uses to produce a reasonable and desirable reply from its target market (Gronroos, 1994). 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PROMOTION MIX Promotion is the important element of marketing mix. Promotion is related with all steps taken to provide information about a product to the customer. It is a common mistake to believe that promotion by business is all about advertising. There are a variety of approaches thatRead MoreMarketing Mix Strategy And Analysis1387 Words   |  6 Pagesstores available in all prime location near to all amenities and public can reach their easily. Marketing Mix Strategy Analysis [Introduction] Marketing Plays a vital role in a business, because of marketing the business can offer their offerings and to their customers and provides the services. Marketing is a combination of 4 P’s which are Product, Prize, Place and promotion, to Analysis the marketing of this business, I am explaining the points are given below, which helps to understand the business