...2 Four P’s Marketing Mix on Starbucks The marketing mix plays an important part in marketing. The purposes of the marketing mix are to use a combination of tools to satisfied the customers and obtain company goals. The marketing mix is referred as the four P’s: product, price, place, and promotion. “The elements are adjusted until a right combination is found that serves the needs of the product’s customers while generating optimum income”. (Marketing Mix, 2010, p. 1). By using the four P’s, most businesses have the ability to connect with consumers within the targeted market. The ability to create a successful marketing mix often has good results. However using the wrong mix can lead to failed marketing strategies which can result in the business dissolving. The key is not to get stuck on one mix; the combination of elements often has better results than just using one. This research paper will review all elements of the marketing mix and how each ones plays an important role that organizations must acknowledge in order to be successful. The first P in the mix is the product. The product is used to determine market needs, wants, and desires, to assess internal resources regarding satisfying market needs, wants, and desires with innovation, to develop process for market resource and product testing, and to forecast product life cycle. With this being said, the product would refer to a physical product or service in a company. The product would be used to satisfy a targeted...
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...stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally, Starbucks produces and sells bottled Frappuccino coffee drink and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary, Tazo Tea Company. The Company's objective is to establish Starbucks as the most recognized and respected brand in the world. BACKGROUND By 1982, they manage to increase the number of stores from one to five. Apart from these stores there were a wholesale business of selling coffee and a roasting facility. The first recruitment of star bucks was Howard Schultz in retail marketing and sales division of star bucks. But after one year when Schultz wanted to expand the business by opening a chain of star bucks stores, three founders were not agree with him. In 1985 Schultz decided to start his own coffee bar named Il Giornale. By 1987 there were three more Il Giornale stores. In the same year Starbucks owners decided sell their company to Schultz. It was a $4 million deal and the most importantly all the stores including four Il Giornale were named Starbucks. Schultz adopted some...
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...ABSTRACT:- 4 I- INTRODUCTION OF THE COMPANY:- 4 Financial performance 5 II-MISSION STATEMENTS:- 5 III-SWOT ANALYSIS:- 6 INTERNAL ANALYSIS:- 7 Strengths 7 Experience:- 8 Brand name:- 8 Weakness 8 Dependency:- 8 Power of Substitutes 9 EXTERNAL ANASLYSIS 9 Opportunities 9 Brand Power:- 10 Customers 10 Threats 11 Rise in competition:- 11 Supplier situation 11 Ownership:- 11 IV-Competence based Strategy:- 12 V-CONCLUSION:- 13 STRATEGIC MANAGEMENT FACTORS:- 14 Marketing Mix is shown by this diagram:- 15 Product 15 Price 15 Place 16 Promotion 16 REFERENCES:- 18 ABSTRACT:- Starbucks cannot be termed as an ordinary coffee shop it represents a different culture and atmosphere beyond a cup of coffee. Starbucks is such a famous brand that it can be found in cities like Indonesia, Bali also. According to their CEO Howard Schultz their culture denotes the values of their company and share purpose like self esteem and self respect etc. For star bucks It is important to maintain their culture and also achieve their desirable levels of development and growth side by side. Their CEO tries to maintain the traditional way of making coffee mixed with new technology so that customers can attract towards them. I- INTRODUCTION OF THE COMPANY:- Starbucks is one of the largest coffee houses company all over the world. It was founded by Jerry Baldwin, Zev Siegl and Gordon Bowk in March 1971. Starbucks have their retail stores in more than 50...
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...Strategic Alliance- Group Project MARKETING STRATEGIES-615 Introducing to the world Biggest Alliance of the Year 2013 KetelBucks Star One Espresso Shot For People who want more from their Coffee Starbucks Company Profile Starbucks Background: Who are they? Starbucks Corporation is an American global coffee company and coffeehouse chain based in Seattle, Washington. Starbucks is the largest coffeehouse company in the world, with 20,891 stores in 62 countries, including 13,279 in the United States, 1,324 in Canada, 989 in Japan, 851 in China, 806 in the United Kingdom, 556 in South Korea, 377 in Mexico, 291 in Taiwan, 206 in the Philippines, 179 in Turkey, 171 in Thailand, and 167 in Germany. What do they produce? Starbucks locations serve hot and cold beverages, whole-bean coffee, microground instant coffee, full-leaf teas, pastries, and snacks. Most stores also sell packaged food items, hot and cold sandwiches, and items such as mugs and tumblers. Starbucks Evenings locations also offer a variety of beers, wines, and appetizers after 4pm. Through the Starbucks Entertainment division and Hear Music brand, the company also markets books, music, and film. Many of the company's products are seasonal or specific to the locality of the store. Starbucks-brand ice cream and coffee are also offered at grocery stores. StarbucksCompanyProfile Where are they located? Transcontinental (Europe and Asia) Africa South America Oceania Asia Europe North America Turkey Russia ...
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...M&s should take into account buyer behaviour in their marketing activities to obtain long term binifit relation ship with their customers. There are a number of elements involved in purchase discion marking. Economical, political, culture, technological. Understand buyer behaviour is importance for M&S to focus on right customers so they can sell the right product at the right prices. 4P’s. . It is the matching of the right marketing stimuli to these characteristics that will determine whether a buyer will make the right decisions and thereby bring a company success. Culture characteristic Many of our values, perceptions, wants, aspirations, and behaviour will arise from what we have learned largely from our family and other important reference groups and institutions. Social Consumer behaviour can also influence by group of people or endivital person depend on the social roles and status. Nike used David Pecham to promote their brand. M&S core principles is the Quality and value for money, East, R(1997,p 15). Their stronges and most trusted product is working suit. Consumer who buying their product are working class people. What M&S should foscus on what’s make their costumers buying and how to make them buy more. Working class buying descision can be clascify as manageble approach, mean they resarch on the internet , magazin TV advertise for the best alternative before they make a final discusion, because buying a suit is more expencive than buying a...
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...Starbuck’s Strategy Michelle Lee Professor: Dr. Christopher McGrath MGT 500 Modern Management January 27, 2016 Introduction & History The purpose of this paper is to discuss Starbuck’s organizational culture and the key leadership and management traits used to execute the business strategy. Starbuck opened in 1971. The company was a single store in Settle’s historic Pike Place Market. Starbucks went from just a narrow store front to one of the world’s largest and successful coffee store chains. Starbucks offer the world’s finest fresh-roasted whole bean coffee. The name was inspired by Moby Dick, evoked the romance of the high seas and the seafaring tradition of the early coffee traders. Howard Schultz chairman of Starbuck had a vision to bring Italian coffee house tradition back to the United States. A place for conversation and a sense of community. A third place between work and home. He left Starbucks for a short period of time to start his own 11 Giornale coffee houses and returned in August 1987 to purchase Starbucks with the help of local investors. Starbucks was set out to be a different kind of company. One that not only celebrated coffee and the rich tradition, but that also brought a feeling of connection. Starbuck’s mission is to “Inspire and nurture the human spirit-one person, one cup, and one neighborhood at a time” (Koehn,2002). Starbuck’s Organization Culture Starbuck sets themselves apart from other companies because...
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...quality coffee with the touch of friendliness in its environment. Starbucks mission statement “To inspire and nurture the human spirit- one person, one cup, and one neighborhood at a time” also shows its commitment towards total customer experience rather than only a material taste of the coffee (Starbucks 2013). Throughout this whole report I tried to find out influence of consumers behavior over the activities of Starbucks. As the normal process of expansion Starbucks has expanded towards the South Asian region. On the basis of this initiative I assumed Starbucks would go further and invest in Bangladesh. And tried to analyze consumers’ behavior of Bangladesh and show its macro and micro factors’ influences over Starbucks present marketing practices. Starbucks SWOT analysis “SWOT analysis pursues and integrated approach that includes key variables from company and environment. The objective is the confrontation of the company’s internal strengths and its weaknesses, as well as, company-external business opportunities and threats in order to generate possible strategic options.” (Bohm, 2009, p.1) The SWOT analysis of Starbucks can be illustrated in the following ways: [pic] Strengths: 1. Starbucks has always boasted of its high quality coffee beans. Though there are some controversies over its coffee sourcing, Starbucks has a good bunch of loyal customers who are satisfied enough...
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...Maizatul Nazwa Sahiman Student Id No: 031100165 | BMK 501 –TMA 1 | |MARKETING MANAGEMENT | |Semester July – Dec’11 | Table of Contents Executive Summary 3 Statement and Analysis Problem 4-8 Decisions Criteria and Alternative Solutions..............…………………………………8-11 Recommendations Solutions, Implementations and Justifications 11-15 References 16 Case Analysis: Proposal for McCain’s line of frozen products in Malaysia; Identify Marketing Plan, Product Mix, Tools, Challenges and Recommendations. [pic] Executive Summary McCain Brother founded the company with simple theory “good ethic is good business”, about the relationship with our farmers, customers, environment, community and people. It is about the good company, making good and simple food. McCain Food is the world’s largest producer of frozen chips, 1st factory New Brunswick, Canada in 1957 and today as clear market leader, 45% of all frozen potatoes sold in the UK are McCain frozen potato. Long Term Business Strategy; “ESWY International Marketing Pro” is specialized in importing and distributing frozen food from Australia and US. The company mission is to be the leader in introducing imported frozen food with healthy, quality, affordable, variety and of course Halal products. This will be a good investment for the company...
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...Acknowledgement First, the proponents would like to thank our beloved Professor, Mrs. Jasmine Fontanilla in giving us this opportunity to make this feasibility study. We really learned a lot in this study especially when we are having our brainstorms, we enjoyed it so much. Great thanks to our parents who give their support to us in doing this study. They give us the financial support, accommodation and inspiration in doing this study. The proponents would also like to acknowledge the respondents that respond to the questionnaires, the JSJ goat farm, Central Luzon State University – small ruminants. And to others that assists us. We appreciate it so much. Of course, we also want to thank all the people who help us in this study. We want to give our deepest gratitude to them. To our panel members, Mrs. Jhonnel Panlilio and Mrs. Winnie Fe for giving us advice and additional information about our project, for the corrections and some suggestions to improve this feasibility. Above all, we would like to thank our Almighty God in guiding us while we are doing this study especially when we are travelling around Central Luzon to get information. This study won’t be possible and successful without the guidance of our Almighty God. The Proponents INTRODUCTION The agricultural sector of Tarlac City contributes approximately 18% to the overall GDP generated by the municipality, constituting a slightly larger proportion of the economy on a local level than for...
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...Hotel Chicago A Marketing Plan • Executive Summary Set in the heart of the “Magnificent Mile”, The Peninsula Hotel Chicago is ideally situated for visitors to experience all that the city has to offer. On the doorstep of Chicago’s premier business and shopping district, the hotel is located in the center of the city’s most exclusive shops and steps from the historic Water Tower. The Peninsula Chicago has 339 luxurious and spacious guestrooms and suites furnished in a magnificent classical style. The Peninsula Hotel property is renowned for its convenient and strategic location within the city. Also synonymous with the brand are the high level of personal service guests receive, and the comprehensive business facility available in luxurious settings. The Peninsula Chicago is targeting rich businessmen, repeat executives and leisure travelers by offering them great discounts in order to bring the occupancy and revenue up for the second quarter of 2011. By analyzing the marketing environment and completing the SWOT analysis the hotel can create specific strategies in order to meet the marketing objectives. The action plan will organize and distinguish the activities during the second quarter within the marketing team. Our marketing plan is structured to enable us to achieve the strategic goals we have set for ourselves in terms of increasing overall revenue as a result of differentiating our products and services from the competition. Our marketing team will ensure that...
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...Ford Motor Company’s Ambitious Revenue Management Strategy By: Russ Banham While Ford is not the only automaker targeting consumer car preferences, it is the only one with a vice president heading a unit on revenue management. Ford is also notable for its combination of three technology tools to sell the right car with the right mix of features to the right customer at the right price. It uses one tool to determine the car with the optimum package of features most likely to appeal to consumers in a specific market. Another tool, pricing software technology from Manugistics, determines which sales-promotion campaign should be offered on each car in each market. A third tool puts Ford dealers in the driver's seat to order the inventory most likely to wheel off their lots. With this knowledge in hand, Ford can gear its production, sales, and marketing to get the biggest bang for the buck. "There is a clear link between what customers want and what we build," says Lloyd Hansen, the spear head behind the project . "The problem has been finding it." Ford believes revenue management is that missing link and has the most leverage in industries with low profit margins. That's what makes it so critical in the auto industry, where pretax profit margins have historically averaged only about 3 percent," says Hansen. "If better pricing tools and processes can improve revenue by just 1 percent, and raise historical margins to 4 percent, bottom-line profits...
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...PART A 1.0 ELEMENTS OF THE MARKETING MIX 1.0.1 PRODUCT Subway offered a menu with wide variety meal and better quality fresh product such as pasta, salad, desserts, soup, the chain's flagship sandwich which is the classic BMT, the 7 under 6 menu which featuring seven submarine sandwiches with 6 grams of fat or less, fresh veggies which already boasts lettuce, tomato, red onion and green peppers (Subway, 2012). Subway also brings in a line of new crab-controlled wraps in 2004 and the product itself has only 5grams Net Crabs. Moreover, in the year 2005, a new menu has been added to Subway’s menu that is a delicious fresh toasted sub and the menu still in consumer demand until now. 1.0.2 PRICING The potential element of marketing mix is the price of the company offered because it is direct impact on the company, consumer and economy as well. Subway uses a little higher of upscale pricing than normal subs in the market. Subway offers different pricing strategy with value pricing. But create value products by service in terms of quality. 1.0.3 PLACE This is concerned with activities needed to move the product or service from the seller to the buyer (Lancaster & Reynolds, 2003). Subway use nontraditional places such as supermarkets, airports, convention centers and business center and also another new market development as their major selling location as a franchise. People who in any kind of Subway sales point are on hand to ensure customer’s demands are coordinated...
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...Andrew Czupta Final Project Brand Profile: Naked Juice Brand Name: Naked Juice Naked Juice Company engages in the manufacture and distribution of juices and fruit smoothies in the United States. It offers juices, juice smoothies, and protein smoothies. Naked Juice sells its nutritional product line through supermarkets, club stores, health food stores, and neighborhood markets. It also operates stores in Los Angeles, California. The company, formerly known as Ultimate Juice Company, was founded in 1983 and is headquartered in Azusa, California. As of January 5, 2007, Naked Juice Company is a subsidiary of PepsiCo, Inc. The overall beverage industry’s growth rate is at 2.6 percent per year. The super- premium juice category grew 42 percent in 2005 and is currently a $640 million market that is expected to reach $1.4 billion by 2008. The Beginning: A young man in Santa Monica, California started naked Juice in 1983. Thirsty beachgoers were delighted by this home-squeezed blend of fruits. The juice quickly caught on and was adopted by a small discount grocery store near the beach. It soon spread to neighboring stores and eventually across most of Los Angeles. Two decades later, Naked has become a national brand dedicated to “creating the best all- natural, 100% juices and juice smoothies, made from the best bare-naked fruits, with no added sugar and no preservatives.” Brand Image: Everyday juice smoothie with no added sugar and no preservatives. Brand Quality:...
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...Tim Horton’s [Type the document subtitle] [Pick the date] PNC Bank pt24581 Target Market Adults Tim Horton’s primary target market is men and women aged twenty five to forty. According to scottrade.com, this group accounts for almost half of its total business (forty nine percent). Tim Horton’s attract this group through contemporary design and consistency in its advertising and décor, and the drive to keep their products current to avoid the “lost in time” negativity that can arise in small businesses. According to a personal interview with my relative John R. Moses, who is a senior manager at one of the shops in Canada, claims “our consumers tend to be urbanites with relatively high income, professional careers and a focus on modern social lifestyles. This target audience grows at a rate of three percent annually. Young Adults This category consists of individuals aged eighteen to twenty four, total forty percent of Tim Horton’s sales. (Scottrade.com) Tim Horton’s positions itself as a place for college students can relax, study, work in groups, and network. The company appeals to this consumer directly through free internet services, such as Wi-Fi, focusing on social networking and actively cultivating an “energizing” image. According to John R. Moses this group grows four point six percent each year. Kids and Teens Through Tim Horton’s friendly environment, they appeal to kids that come with their parents. They do not cater directly towards kids;...
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...SWOT Analysis: Starbucks Coffee Company Ravineel Chand MGT 450: Strategic Planning for Organizations (BII1607A) Professor John Bruning February 27th, 2016 Introduction SWOT Analysis is a useful technique utilized by organizations to understand the strength and weaknesses of the organization. Furthermore, it is also utilized to understand the opportunities which may be open to the organization and the potential threats that it may face. “Once a company has a firm understanding of where it stands financially, the next part of the internal assessment is conducting a SWOT analysis, which stands for a company’s strengths, weaknesses, opportunities, and threats.” (Abraham. S.C, 2012) Using a SWOT analysis allows organizations to carefully pinpoint where they stand against competition, where their weaknesses and strengths lie, and how to gain more opportunities within their respective markets. The purpose of this paper is to conduct a SWOT analysis of the Starbucks (SBUX) corporation This paper will also describe the history of the organization, its products and major competitors. History Starbucks Corporation, founded in 1971, is a retailer of specialty coffee. Starbucks retails a variety of drip brewed coffee, espresso-based hot drinks, other hot and cold beverages, complementary food items, coffee-related accessories and equipment, teas, ice cream, and items such as mugs, coffee beans, and music and other non-food products through retail stores in approximately 39 countries...
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