The Marketing Mix Of Starbucks

1208 Words5 Pages
II) Marketing Mix “The marketing mix is the set of tactical marketing tools that the firm blends to produce the response it wants in the target market. It consists of everything the firm can do to influence the demand for its products” (Kotler et al., 2013, p.53). Its main characteristics can be categorised into a 4Ps framework. a) Product Starbucks was initially known as a premium coffee chain for high standard coffee-lovers. However, throughout the years and the fierce competition, Starbucks has expanded its product portfolio to match new customer needs. They introduced the brands ‘Tazo’ Tea and ‘Fizzio’ offering caffeine-free handcrafted sodas (Mintel, 2014). They also launched innovative beverages like the Frappuccino, and created an extensive food menu. In fact, a study has shown that around 22% of hot drink purchasers were “very interested in seeing baked goods on the menu of coffee shops” (Mintel, 2014). They also do their best to introduce seasonal offerings, such as the gingerbread for Christmas (Erin, 2010). They now host 8 main categories of drinks and 7 of food to attract a wider range of consumers (i.e. the non coffee-lovers). Nevertheless, beverages still account for 60% of sales in the store (Statista, 2015). Beyond serving drinks and food, Starbucks enables its customers to purchase Starbucks’ coffee and cappuccino makers, to extend the Starbucks experience at home, in a Starbucks mug. Each product is unique since the barista personalises it with the

More about The Marketing Mix Of Starbucks

Open Document