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 how the products will be availed to them. For instance, because Starbucks is selling trendy food products, opening stores in rural areas will not bring any profits. They must take their products to locations where youthful people tend to hangout such as malls and multiplexes. This is the only way for them to gain maximum attention from the target market (Haberer, 2010).
Moreover, Starbucks must develop a pattern of being alert to offer the ease of shopping. When Starbucks diagnosed their customer based, they realized that they are serving the busy working class. These are financially stable people but lack the time to buy Starbucks products. Therefore, the product cost involves bot the price and time invested in purchasing the products. This means that if Starbucks reduces the price for their products, it will not make any significant changes. Instead, it would be advisable for the company to consider reducing the time involved in purchasing their products. This has been successful; the firm has introduced virtual outlets in bus stands and subway stations where customers can pick items on their way home. This strategy managed to increase their sales rapidly (Lamb, Hair & McDaniel, 2012).
Promotion
Starbucks engages promotional tools that take products closer to the...
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 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
The most extensively used type of promotion is advertising which can be delivered through a lot of channels like TV, radio, printed magazines, theatres, outdoor media like billboards, hoarding, posters and Point of Purchase (POP). The Internet in the recent years has also become a potent media option for the marketers as also cell phone users through SMS. The particular segments of society which are marketing segments being targeted
Brand equity of trusted advisor for CRM application delivery. Source: Framework based on the concepts presented in (Yoo, Donthu, Lee, 2000) References Aaker, D.A. (2012). Win the brand relevance battle and then build competitor barriers. California Management Review, 54(2), 43-57. Aremu, M.A., & Bamiduro, J.A. (2012). Marketing mix practice as a determinant of entrepreneurial business performance. International Journal of Business and Management, 7(1), 205-213. Friedman, H.H., & Friedman, L.W. (1987). Marketing methods for software.
Marketing Mix for a Service Company Marketing Mix Analysis for a Service Company -- Gartner Inc. Gartner Group (NYSE:IT) is a $1.3B provider of IT consulting and industry analysis services for the enterprise software, technology and outsourcing industries globally. The company operates in over 20 countries globally, with offices and teams of analysts and project management professionals available for implementing business process re-engineering, enterprise software and wide-scale IT deployments. The four most
Marketing Mix An integrated marketing communications, or IMC approach, involves "coordinating the various promotional elements and other marketing activities that communicate with a firm's customers" (Belch & Belch 1999, p. 8). The most significant point is that all communication and promotional activities should be integrated so that a clear and consistent message is communicated to customers. This involves clearly defining the message, considering the various ways that it will be communicated,
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