Marketing mix paper

Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. Starbucks has lived up to that motto each and every year and with such great numbers and great feedback the company keeps on growing in the right direction. Starbucks is well known around the world for delivering fast, efficient coffee in all forms. From their frappachino’s, to their brew coffee and ice tea they are definitely the set example that other company’s in their area follow.

They live by six principles that they practice each and every day they represent there coffee which has always been there passion to deliver great coffee to the table by selecting beans that are ethically sourced, roasting with great care and improving the lives they serve the coffee too and buy. Partners who they call their employee’s but at Starbuck’s everyone is a owner of the company as you work the hardest by interacting with guest’s everyday.

Customer’s hold a great deal in the process by coming each and every day but not just for the coffee but for the interaction they hold each day with barista’s but with customers as well. The stores are all the same as you know when you’re at a Starbuck’s from the smell to the coffee, the partner’s and the ambience. Neighborhood, Starbuck’s does a lot for the community by donations, community events and school events that help the community come together. Companies only preach Starbuck’s for being such a trendsetter, they set the standard for other companies and they lead each and every year.

Shareholders come last by taking care of your owner’s you will have more customer’s to invest more money in your company. Now that we know a little bit of what Starbuck’s have to offer I will be talking about there marketing scheme and why they are so successful in selling those pounds of coffee each day. They follow the marketing mix plan which consists of developing a product, which place we are going to put the product, the price of the product and promotion.

With those four things we will talk about how Starbuck’s implements the idea and what industry in belongs in. Starbuck’s is one of the best place’s to work for and knows their product so well to convince you to buy. Product is defined as “ A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (Benefits, Features, Functions, uses) that a seller offers a buyer for purchase”.

Starbuck’s comes out with a new seasonal drink every three-month’s depending whether it’s winter, fall, summer and spring. Spring they cater to the ice tea, summer the ice-blended beverages, fall ice latte, and winter would cater for the hot items. When deciding on new product they take a study on what customers actually want and what drink sells the most depending on the season whether it’s a hot drink or a cold drink. For example, is it’s a cold drink Starbuck’s most popular ice drink is the caramel macchiato ice latte.

They just modified it a bit this season by introducing the hazelnut ice macchiato which is the same exact concept just with hazelnut syrup instead of vanilla syrup. Having worked for Starbuck’s before I know that they deliver superior drinks and products to the table. From the products they sell on the retail table to the coffee they serve each day each product goes through quality check’s and before each syrup or ingredient is sold to the guest it is tested by one of the employee’s for consistency to make sure they are serving a quality product.

The product’s that Starbuck’s introduce is huge part of their success that most companies try to copy to bring success to there business. Place is defined as “ anyway the customer can obtain this product. ” (Ezinearticles) It play’s a huge part in the marketing mix as it is where the customer can buy your product whether this be at your place of business, online, convince mart’s and online. For true profitability you probably want to offer this product everywhere depending on what product it is and which customers it caters too.

For example at Starbuck’s they offer there products all over for the most part, you can find retail bag’s of coffee at grocery store’s, find there bottled beverages at convince mark’s and whether you go to the mall, bookstore or grocery mart they have a little cafe that serves Starbuck’s products. Starbuck’s caters to the guest’s giving them several options and several place’s to buy their products. Price is defined as “ The value that will purchase a finite quality, weight or other measure of a good or service” (Business Dictonary).

When growing up your parents always said, this is too much money so you wouldn’t be able to get that candy bar or video game because the price of the product was too high. Whether this be because of high price the person that made this product had to out some research into the idea of how much they should sell this product for, how much profitability am I making at the end of the day after all deductions are taken out. The price is what set’s your product apart but a high price mean’s that you need to market the product very well to get people to buy it and build a quality product to get raving reviews.

At Starbuck’s they always advertise giving you incentives and low prices. Summer time they do Ice Blended hour, which from 3 pm to 5 pm they offer their ice blended beverages for two dollars opposed to their four-dollar price. They continually set the bar for there guest’s by offering them rewards for reloading there gift card and spending more money for free drink’s. They have developed a mindset for customer’s to get their coffee fix each and every morning to start the day.

Promotion is defined as “ The advancement of a product, idea, or point of view through publicity and or advertising. (Business Dictionary) Promotion is all about how you communicate you product, its all trying to convince the consumer to buy your product and spend the money to buy it. In Starbuck’s case they want you five dollars a day, which consists of a food item and coffee item together. You want the customer to be aware that you are for them but at the same time you want there business and you want them to come back each and every day to buy the products.

Promotion is like advertising your product but more on the personal selling side as your trying to get the customer to buy the product and communicate this to there friend’s. This is one of the way’s Starbuck’s markets there products and why you should take daily note’s when you go in to see what they are doing right and what you are missing in your business. Starbuck’s is a growing company at more then 3, 500 plus store’s there dong something right.