Preview

move with the time

Good Essays
Open Document
Open Document
825 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
move with the time
1.) What measures can Starbucks take to ensure that their brand image and reputation for quality is not tarnished while implementing the growth strategy?
Since Starbucks is in an open market economy of course it is unavoidable that competition consistently exits. And to be able to compete with your rivals, corporation must see to it that you have a competitive advantage over them that compared with this products and services being offered.
PRICE-is about the price of the products and services you are offering. One important consideration about price is about the standing and stability of income of your stakeholders, consider them as the most important thing in determining your price; if “All can afford”. See to it that your products price fits for everyone that the compensation the customer pays you satisfies you and the products and services you are offering satisfies them as well. For price, taking vitally, you can gain advantage over other competitors, and it will affect your corporation’s brand and reputation precisely.
QUALITY OF PRODUCTS AND SERVICES-Of course all businesses prioritize most importantly the products and services they are offering because these serves as their key to success, these where their returns come from and for without it, what’s the use of putting business venture either. And in other words, for without it, everything would be frozen. Primary concerns here, since you’re ahead of competition and various risks and rivals, you have to maintain the strength and feasibility of your product on how it will positively noticed by the latter. And if it’ll gone success, fortunately this would mean profit and it will absolutely affect your brand image and market reputation that it will actually bring the name of your corporation.
KNOWLEDGE-There’s no greater and stronger if you knew everything part in your field. Upon seeing in an industry-wide economy, millions organizations ,firms, companies, individuals and people are walking to it, aiming

You May Also Find These Documents Helpful

  • Good Essays

    Mkt/421 Marketing Mix

    • 1459 Words
    • 6 Pages

    Price is where the value of the product is determined. Pricing is just as important as the product itself. No matter how great a product is, it needs to be priced so that consumers will be willing to purchase it and so that it will make a profit that is worth investing in. Pricing also can offer a chance to get a leg up on the competition. In order to gain an advantage in market share a company may decide to price their product slightly lower than their…

    • 1459 Words
    • 6 Pages
    Good Essays
  • Better Essays

    Sbucks Activity Ratios

    • 1080 Words
    • 5 Pages

    Luckily, Starbucks has managed to stay in the upper-scale of the coffee market allowing investors to feel comfortable to enter the market with Starbucks. That being said, it is unlucky for many businesses that are not benefiting like Starbucks to have to close down. Other smaller corporations feel the need to leave the coffee industry keeping Starbucks at an even higher…

    • 1080 Words
    • 5 Pages
    Better Essays
  • Better Essays

    fin516 week 2 mini case

    • 1211 Words
    • 7 Pages

    Starbucks face intense competition in each of our channels and markets, which could lead to reduced profitability.…

    • 1211 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Price - Price is the amount of money consumers have to pay to acquire the product. This can vary considerably.…

    • 3211 Words
    • 13 Pages
    Good Essays
  • Satisfactory Essays

    Starbucks Case Analysis

    • 434 Words
    • 2 Pages

    * Competitive rivalry within an industry is high for Starbucks Coffee. Companies like McDonald’s, Dunkin Donuts and Peet’s Coffee & Tea are all possible competitors within this industry.…

    • 434 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Price is the amount of money that charged for a product or service. In reality, people like comparing prices on the same brand of product from different shops to find…

    • 1662 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    In order for Starbucks to even understand growth, they will need to identify their weaknesses as well as implement different strategies to address the weaknesses that were identified. Starbucks needs to consider a value discipline, generic strategy, and grand strategy to remain competitive in today’s economy. The following paper will discuss strategies recommended as well as provide examples of how combining different strategies can increase their profitability and achieve growth.…

    • 855 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Four Ps of Marketing

    • 486 Words
    • 2 Pages

    Pricing is the actual fee you intend to charge for the product or service to your target consumer group for profit. When setting prices,always remember that profits are always affected by any discounts and or allowances you may coose to offer in the future,and be sure that you are setting profits within the legal limits of the law. Many great business plans have failed simply because no one took the time to consider the legal side of planning.…

    • 486 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    pricing products

    • 4434 Words
    • 17 Pages

    Pricing productsIntroduction Products and services have a price just as they have a value. Many non-profit and all profit-making organizations must also set prices. Pricing is controversial and goes by many names: Price is all around us. You pay rent for your apartment, tuition for your education. The airline, railway, taxi and bus companies charge you a/are; the local utilities call their price a rate; and the local bank charges you interest for the money you borrow ; the guest lecturer charges an honorarium to tell you about a government official who took a bribe to help a shady character steal dues collected by a trade association. Clubs or societies to which you belong may make a special assessment to pay unusual expenses. Your regular lawyer may ask for a retainer to cover her services. The 'price ' of an executive is a salary, the price of a salesperson may be a commission and the price of a worker is a wage. Finally, although economists would disagree, many of us feel that income taxes are the price we pay for the privilege of making money. In the narrowest sense, price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that consumers exchange for the benefits of having or using the product or service. How are prices set? Historically, prices were usually set by buyers and sellers bargaining with each other. Sellers would ask for a higher price than they expected to get and buyers would offer less than they expected to pay. Through bargaining, they would arrive at an acceptable price. Individual buyers paid different prices for the sane products, depending on their needs and bargaining skills.…

    • 4434 Words
    • 17 Pages
    Powerful Essays
  • Satisfactory Essays

    Price is a vital component of a marketing mix, also known as the "four Ps" of marketing. The other components are product, place and promotion, all of which constitute costs. Price, on the other hand, generates a return as it supports the other marketing-mix elements. Although supply and demand drive pricing decisions, they're not the only factors. Any number of pricing objectives may come into play, but four in particular apply to most businesses.…

    • 311 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Chapter 13 notes

    • 2531 Words
    • 11 Pages

    Price – the overall sacrifice a consumer is willing to make to acquire a specific product or service. This sacrifice necessarily includes the money that must be paid to the seller to acquire the item, but it also may involve other sacrifices, whether nonmonetary, like the value of the time necessary to acquire the product or service, or monetary, like travel costs, taxes, shipping costs, and so forth, all of which the buyer must give up to take possession of the product. Value is the relationship between the product’s benefits and the consumer’s costs. The key to successful pricing is to match the product or service with the consumer’s value perceptions. In this equation, price also provides the information about the quality of products and services. A price set too low may signal low quality, poor performance, or other negative attributes bout the product or service. Consumers don’t necessarily want a low price all the time or for all products. Rather, what they want is high value, which may come with a relatively high or low price, depending on the bundle of benefits the product or service delivers.…

    • 2531 Words
    • 11 Pages
    Better Essays
  • Best Essays

    B2B Marketing

    • 4963 Words
    • 20 Pages

    Pricing is important in the marketing of a successful product as well as in the decision that customers make in purchasing a product or service.…

    • 4963 Words
    • 20 Pages
    Best Essays
  • Good Essays

    Pricing Decisions

    • 816 Words
    • 4 Pages

    All profit organizations and many non profit organizations must set prices on their products or services. Simply defined, price is the amount of money charged for a product or service. More broadly, price is the sum of the values consumers exchange for the benefits of having or using the product or service.…

    • 816 Words
    • 4 Pages
    Good Essays
  • Good Essays

    2.) What is Starbucks’ competitive advantage? Discuss whether you think this is a sustainable competitive advantage.…

    • 1058 Words
    • 5 Pages
    Good Essays
  • Good Essays

    1. What were the keys for success for Starbucks in building the brand? What were its brand values? What were their sources of equity?…

    • 1126 Words
    • 5 Pages
    Good Essays