Monday, November 18, 2019
Marketing strategy of Starbucks Essay Example | Topics and Well Written Essays - 1000 words
Marketing strategy of Starbucks - Essay Example Starbucks is attempting to involve its customers in the product in many ways. First, the company is marketed as a status item hence it is high involvement (has higher psychological, economic, and social risk) cheaper coffee or unbranded coffee from its competitors. Secondly, Starbucks is utilizing different campaign, like Ã¢â¬Å"Bold CoffeeÃ¢â¬ campaign and the Ã¢â¬Å"ViaÃ¢â¬ taste challenge so as to get its customers to come to the store continuously and try the new products. This is a perfect use of the buyer behavior theory that predicts that the customers could switch brands only to try a new thing. Offering its customers with a new flavor to try every week, the company actively manages the natural inclination of the customers to try new things. These strategies together with emphasizing on socially responsible behavior, the company are also offering customers with additional benefits on which they can evaluate its products. Through building a strong brand that its customer s are loyal to, implying that the customers donÃ¢â¬â¢t even consider the other brands whenever they are going for coffee, immediately they will choose Starbucks since itÃ¢â¬â¢s the coffee for any person who loves coffee. These are the strategies that are employed by Starbucks to keep its existing customers satisfied (Simon, B. 2009). Promotion is the most common promotional mix elements utilized by Starbucks are internet marketing, advertising, public relations, personal selling, and sales promotion (Michelli, J. A. 2007).