The Starbucks Marketing Strategy And Marketing Strategies

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Question 1 Businesses employ many strategies to gain advantage for their products. This may differ for different products in different zones. It may also heavily depend on its customers as implied in the scenario. There are many product marketing strategies the show which is suited best for different products. To identify implications on marketing strategy, we first look at is customer trends. Customer trends have changed throughout time and are still constantly changing. What was desired before may not be desired now. People may now be only looking at products and not what brand they are. If it does the job, a product is buyable. Secondly we look at how marketing strategies have influences products. Once a business knows what their consumers want, they…show more content…
There are 22,000 stores in 67 different countries and is well known to sell coffees and other beverages to the customers (Starbucks New Zealand, 2016). Already a well known product, it tries to further its growth by implementing new strategies. The Starbucks product market growth matrix is a tool used to show 4 strategies which can be used to grow. It merely shows the risks that are involved with when a business moves into different quadrants and phases. Four Starbucks strategies are market penetration, which shows the business trying to grow with its existing products, market development, where the business tries to expand and go into new markets, product development, where the business tries to produce new products and introduces it into its existing markets and lastly diversification, where the business tries to introduce new products and venture into new markets. The BCG matrix tool works in a similar way as the Ansoff matrix but it looks into long term strategic planning to help a business to consider growth opportunities (Mind-Tools, 2015). The BCG matrix mainly shows if a business should invest, discontinue or develop more products. Similarly to Ansoff matrix it also has 4 quadrants to show results

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