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Starbuck's 4Ps

By: Jessica Mason
by

Jessii Mason

on 10 December 2012

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Transcript of Starbuck's 4Ps

Core Product & Target Market Promotion, Augmented Product and Place Actual Product and Prices Starbucks Starbucks By: Jessica Mason The company began targeting young college or university students, medium to upper social classes, and wealthier neighborhoods that would be the most accepting to the idea of buying a $3 cup of coffee, spending time with friends at their stores and being socially and environmentally responsible people. Starbucks is a very environmentally responsible company. They have created a community link "from the neighborhoods where our stores are located, to the ones where our coffee is grown". They also believe they "share our customers' commitment to the environment" by recycling, using energy efficient lighting, reducing the amount of water they use and using responsible building materials and energy efficient designs to reduce [their] environmental footprint". Starbucks' products are advertised as works of art, handcrafted just for the buyers. They have 114 different drinks and 60 different food choices. The prices are slightly more expensive because they are meant to be a premium brand with a premium price. This strategy is called 'creaming' which is when companies purposely charge a high price to persuade customers their product is high quality. A cup of coffee could cost between $3-$5 depending on the buyer. Accessories Drinks Food Product Mix Hot/Cold Coffee Bottled, Kid-Friendly Smoothies,
Teas Breads, Bagels, Oatmeal Sandwich, Wraps Scones, Ice Cream Mugs Shirts Coffee Pots Starbucks has a quite clever augmented product. They offer free wi-fi, a friendly, relaxing and personal environment and customer satisfaction guaranteed. Their promotion is very effective and Starbucks spend a small percentage of its revenue on advertising, relying to a greater amount on its image advertising, such as movie and television placement, in order to promote the success of the business. When it does advertise, Starbucks uses print media a lot (magazines, newspapers, etc.) as the company’s target market is towards more educated people who do more reading than average. To encourage you to choose their store, Starbucks has a unique gift card system. The different levels they have are: WELCOME: free birthday drink, GREEN: free birthday drink and free refills in the store, GOLD: free birthday drink, free refills in the store, every 12 times you use your card get a free drink or food item, personalized gold card, and special offers through emails. As of 2011 Starbucks had over 17 thousand locations in over 50 countries. In the beginning, the only place you were able to get a Starbucks product was at one of their coffeehouses which gave an elite impression to the public. Now, you can buy their products in select Chapters stores and supermarkets. Starbucks is loved world wide for being an unique company that's both socially responsible a great customer experience.
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