Starbucks Corporation and Brand Loyalty
In today’s highly competitive business markets, a consumer’s loyalty to a brand often adds reassurance to the company’s stable and lasting position in the marketing world. As the new year continues to unravel, brands must maintain strong marketing strategies in order to keep their current buyers interested as well as capture the eye of new buyers. Brand loyalty after all, is the consumer’s conscious and unconscious decision, expressed through intention or behavior, to repurchase products from a brand continually. It occurs when the consumer perceives that the brand offers the right product features, image, or level of quality at the right price. One of the industry’s most successful companies, with over 19,000 stores worldwide, is Starbucks Corporation. Through the use of various marketing tactics, Starbucks has established itself as the largest coffeehouse company in world with a continuously expanding flock of loyal consumers each year. Pricing:
As the leader of the coffee market, Starbucks Corporation is known for setting its prices on a simple idea: providing high value products at a moderate cost. When consumers are drawn to a product they find worthy of their money, they often are willing to pay any cost to attain the item. For Starbucks’ loyal consumers, quality is key. To maintain its brand loyal consumer base, Starbucks ensures their buyers quality coffee to justify its costs. Differentiation:
Starbucks spends a large sum of time and energy annually to differentiate itself from its competitors. When one steps foot into one of the coffeehouses’ many locations, he or she will immediately be exposed to the music played in the shop as well as the types of products the shop sells, from bags of freshly ground coffee to jazz CDs. Starbucks also tries to stay up-to-date on the latest technology, often times being the first to introduce the newest advancements to its customers. Through new approaches...
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