There is an abundance of work going on inside Starbucks right now to bring GIS expertise in-house to aid in their segmentation planning based on taking both demographic, psychographic and attitudinal segmentation criteria overlaid against potential market areas.
Marketing Mix Analysis
The following is an analysis of the marketing mix for Starbucks compared to Dietrich Coffee and Coffee Bean and Tea Leaf Company.
Product
Starbucks' ability to continually innovate new products is central to its lasting competitive advantage in this area. That combination of innovation and focus on being able to executive product delivery globally is a sustainable competitive advantage. Starbucks has steadily grown their cold and hot drink menu equally in terms of product offerings, and continues to experiment with light lunch, mainstay bakery items, and seasonal fruit and bakery goods.
The approach to this product strategy however is muted and not as pronounced on their website as it is in their stores. The majority of revenue growth in Starbucks however comes from recently added drinks, according to Mintel Research and DataMonitor. This is also supported by Baird (2006) and their investment analysis.
Comparably, both the Coffee Bean and Tea Leaf Company and Dietrich Coffee rely on the higher-priced and correspondingly higher margin drinks. The product strategies at both of these competitors are decidedly focused on the higher end of the market, the segments where Starbucks is positioning the Vendi class of hot drinks and the Frappacino line of "fancy" drinks.
Starbucks' two competitors are relying on these higher-end beverages, both pictured with mounds of whipped cream, as dessert replacements and communicating their product...
Place Starbucks can be left without profits if it markets its products in the wrong locations. Place is the sites at which the company avails its products. This includes channels of distribution from the distribution point to the end customer. Starbucks attempts to minimize the distance customers have to move to the point where the product is sold. This is followed by targeting the appropriate target market before making decisions on
Marketing Mix for Effective Marketing: The marketing mix can be considered as the most famous marketing term after it was published in 1964 in an article by Neil H. Borden. The term has become common in marketing because its elements are the fundamental, tactical components of a marketing plan. The marketing mix elements are product, price, place, and promotion which are the four major categories that guide marketing decisions. These four
Marketing Mix and Kindle Fire The Marketing Mix and Amazon's Kindle Fire The marketing mix is an important tool used by organizations and individuals as part of an effective marketing strategy. "Every marketing strategy is composed of the same four components: price, product, place, and promotion" (Colbert, Nantel, Bilodeau, & Rich, 2001, pp. 19). A marketing specialist needs to know the function of each of these components and must also know how
Marketing Mix Companies intending to market their products have to make sure that the product they intend to sell is the right one for their market niche. The product has to be sold at the price which can make them penetrate the market and in the right place. Finally, to guarantee brand visibility, they have to use the most suitable promotional gimmick (Kerin & Rudelius, 2001). All these constitute what we
Marketing Mix Frozen Food Company Japan This paper is based on a case study that involves an organic food retailer firm called, Quick Frozen food Company Japan. The company has enjoyed a formidable position in the frozen food sector, being the leader, and committed to provide top quality frozen food to its customers. In this paper, we will be focusing on the marketing mix, marketing strategy and persisting trends in the
Marketing Management Marketing mix Product Price Promotion Plan using AIDA+ 4 Awareness Interest Desire Action Satisfaction Promotion Budget & Implementation Calendar GANTT Chart Sustainable Marketing Campaign The Redwoods Group (Redwoods) was founded in 1997 and is a privately held highly social conscious company providing property and casualty insurance underwriting as well as risk and claims management services to non-profit organizations, camps amongst others. Redwoods is a for-benefit corporation formed to create shared value for all stakeholders and to cater to a market underserved
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now