Marketing Analysis of Starbucks
Proper implementation and execution of a strategic marketing plan is essential to the success of any company.
A company may have an ideal product, but without proper positioning, identification of a target market, and a proper marketing plan a company would not be able to successfully market its products to consumers. Starbucks has been successfully able to convert an activity carried out at home to a commercial success through proper implementation and execution of its strategic intent.
The firm has been able to convince consumers that its stores provide more than just coffee, but rather a rich experience that they should indulge in on a recurring basis. The company has been able to translate this consumer "experience" of its products into a highly profitable business.
The marketing principles, or the four P 's, also follow the differentiator marketing strategy. Starbucks is competing in an industry where marketing principles has to follow the differentiator strategy, or it risks losing market share. The company must create value to its customers, or the customers will find another place to spend their money. The marketing principles of Starbucks are the basis of the company 's competitive advantage within the industry. Starbucks products are associated with quality, and the company has differentiated itself during the years as being committed to producing high quality products. Because of this association with quality, Starbucks has been able to charge a premium for its product.
Until recently, Starbucks did not face the type of competition it is experiencing today. Not too many companies that were as large as Starbucks were in the gourmet coffee business. Starbucks, though its promotions was able to create a perception of a premium gourmet coffee. The place or location of each outlet is also in line with the company 's differentiator strategy. With 17,000 outlets worldwide, Starbucks individualized each outlet based on the surrounding