Marketing mix can be defined as combination of marketing elements used in the sale of a particular product. (Marketing, 2007) The elements, also known as the four Ps, are product, price, place (of distribution), and promotion. All are important in defining and fulfilling a target market. Companies use different aspects of marketing mix to help them better serve their target market. Starbucks primarily focus is to provide outstanding service and products to their customer, while earning their loyalty. In addition to the price, the convenience, and other benefits, consumers are demanding more. (News & Release, 2006) We at Starbucks have seen significant loyalty and value around the trust we have built with our customer. (News & Release, 2006)
Marketing Mix And How Starbucks Is Successful Because Of It
Marketing mix is a combination of marketing elements used to sale a product or service to consumers. The elements of marketing mix, also known as the four Ps are (1) product good or service (2) price cost of product or service, (3) place where product or service is located, and (4) promotion advertisement of product or service. Each element is used by companies to help meet the needs of a target market. A target market is an identifiable group of people that could benefit from purchasing your product, visiting your site, and/or responding to some other call to action. (Marekting & Management, 2007)
Product is the first element of marketing mix. A product is any combination of goods and services offered to satisfy the needs and wants of consumers. (Marketing, 2007) A product can either be tangible or intangible. A tangible product is a product that can be touched by a consumer, such as a car or computer. An intangible product is a service that cannot be touched, such as computer repair, income tax preparation, or an office call. (Marketing, 2007) A product can also be divided into three levels core, actual and augmented... [continues]
Cite This Essay
(2007, 06). Marketing Mix & Starbucks. StudyMode.com. Retrieved 06, 2007, from http://www.studymode.com/essays/Marketing-Mix-Starbucks-117815.html
"Marketing Mix & Starbucks" StudyMode.com. 06 2007. 2007. 06 2007 <http://www.studymode.com/essays/Marketing-Mix-Starbucks-117815.html>.
- MLA 7
"Marketing Mix & Starbucks." StudyMode.com. StudyMode.com, 06 2007. Web. 06 2007. <http://www.studymode.com/essays/Marketing-Mix-Starbucks-117815.html>.
"Marketing Mix & Starbucks." StudyMode.com. 06, 2007. Accessed 06, 2007. http://www.studymode.com/essays/Marketing-Mix-Starbucks-117815.html.