2.5 Capture value from customer to create profits by customer equity Create Satisfied Loyal Customers • Improving Customer Services By improving customer service, customer will be more happy and start to stick with the product and hardly shifts to the competitors products easily. (Zeithaml, Rust, & Lemon, 2001) This in itself is a big plus point for the company as customer retention is far cheaper then customer acquisition. Other than that, references about the Unicorn Frappuccino will be also easily spread. As usual referencing is all about spreading the word to one another. In other word, this Unicorn Frappuccino product will be sugar of lips to all people because of the unique characteristic. These references mean money or profits to …show more content…
Mouth to mouth syndrome in a customer circle also can endorse resulting bigger market. This kind of phenomenal will be live in long period of time and can be interpreted into lots of profit not just through Unicorn Frappuccino but also other line of products in the Starbucks. Well-known in good services approached to customer resulting into long term profit regenerate. When your service is good, and the word of mouth and references are good, you will acquire new customers at a fraction of the cost you were supposed to. Not like the other products, they have to some millions of dollar just to market it. Unlikely the Unicorn Frappuccino, Starbucks using a great nature approach and all of the promotion regarding the products will be perform by existing customers. This ensures fantastic profitability as you are getting maximum returns on the investment already …show more content…
• Be honest This means always having your customer’s best interests at heart, regardless of whether you get a smaller sale, or lose a sale to a competitor. Remember, always to accept everything bad and appreaciating good that’s force Starbucks business limits. Aware of the agenda to building customer relationship to businesses is an important keypoint in order to get market for the Unicorn Frappucinno solidly . The Unicorn Frappucino must be attractive in term of design, taste, flexiblity to show customer that buying this product is not just like paying a cheque or spending pennies on food. Share – Boosting the customers confident towards can be attrive through the nutritional fact that may to be useful to customer in the future. Providing such an information such as nutritional fact on a cup of Unicorn Frappucino not just improve confident of customers toward product in term of health but also gain trust from customer to Starbucks for providing such a nutritional line of product and natural base ingredient for the health
High Quality Customer Service: By providing superior customer service, there will be positive future growth. This is done by focusing on customers and providing services and products they want. The sales initiatives are specifically designed to meet the needs of their customers. This is why they are ranked in the top 20 best performing companies and Home
Starbucks has created a competitive advantage with their product quality by setting themselves apart from their competitors. “The Company has stayed with the upper-scale of the coffee market, competing on comfort rather than convenience, which is the case with its closest competitors, McDonald’s and Dunkin Donuts” (Mourdoukoutas, Panos). Consumers believe they are receiving a better product and experience when they purchase from a Starbucks as opposed to another large food service company that may sell coffee.
Starbucks created a change in the coffee industry by valuing their customers and partners from the beginning.
Al-Frasco Coffee is a small coffee shop which started its business in 2011 in Melbourne. It caters high quality coffee and few dishes together with its location overseeing Yarra River gives an ambience that makes it attractive to our customers. It has also pride itself in having a highly efficient and friendly staff offering customer services to their patrons at the highest level possible. It is expected that it should become the most favorite place for young and old alike to escape from the daily stresses of work and household activities and be a convenient location for friends to meet or a meeting point for business person. Also, it will endeavor to attract students from Victoria University, which is close to our coffee house. Importantly,
Having a good customer service will also increase the profit of the business. When they are able to identify new products and services, it will help the business to provide good facilities to the customer. As the customer
Have you ever been so tired during the day you need a wake up call? I have and Starbucks gives me an extra boost of energy to complete my day. Many consumers buy the product thinking it will help you get energy, find their true love, that it will help your day get better or that it’s all natural. It does this by using pathos, logos and perceived value.
Customer service can help to build positive relationships with customers, increase sales and lead to loyal and returning customer which can have a positive effect on the business and indeed the industry as a whole.
Good customer service will set my company apart from the strategic differentiation of my competitors also use of technology, pricing, and quality products. When I start my new venture with my exercising unit, I want people to know just how well my product works.
Starbucks has many stakeholders who are interested in the business’ success and failure, as they can be positively or negatively affected by the business. One of Starbucks’ main stakeholders is its consumers, this because consumers are the company's most influential stakeholder group and that Starbucks should listen to, to make the business successful. There are many types of consumers, therefore Starbucks should be aware of this and meet their consumer's needs and desires. Starbucks welcomes all type of people to their stores this is shown through Starbucks’ values which is to “create a culture of warmth and belonging, where everyone is welcome”. This emphasises that Starbucks knows that their consumers are an essential part of their business and believe it is important to please their consumers as they can have an influence on Starbuck’s activities. For that reason, Starbucks welcomes anyone to their business and makes them feel comfortable and also part of the business. Furthermore, if Starbucks didn’t have consumers the business wouldn’t survive, as they would have no-one to sell their products to. This means that it is important that Starbucks listens to their consumers but primarily pleases them with reasonable prices, a wide product range, and also easy access. However, there could be a conflict between consumers and Starbucks if the consumers are not satisfied with the product or services they have received which may lead to the failure of the business.
Starbucks has been a brand that consumers have been able to identify with for quiet some time. By doing so, Starbucks would be able to ensure that their clientele is satisfied and forget about the barriers in which the company has had to face but still manage to continuously expand in the marketplace. With that being said, all customers are valuable, but those customers that meet specific criteria within an organization; such as, placing large orders and or buying products that are at a high profit margin, these are the customers that are not only profitable but are also the ones that are the highly satisfied with the product and its brand recognition. If
The market research team has also discovered that Starbucks’ customer base is evolving. The customers tend to be younger and less well educated. Regardless of this insight, customer behavior remains the same. According to Figure A in the case study, the typical customer visits just five times a month. I believe this is in part due to Starbucks’ inability to meet customer expectations and increase satisfaction. In order for the company to increase the frequency of customer visits, customer satisfaction must improve. Thus, the ideal, most profitable consumer for Starbucks is one who is a
You may offer a quality, well-priced product, but if a customer receives inferior service before, during or after the sale, future sales may be lost. Providing superior customer service in today 's competitive marketplace is crucial. Quite simply, customers are your business and lost sales through poor service means you will lose money.
For Starbucks members, they can enjoy extra hour, which means they can get a 50 % discount from 3 until 6pm. This advertisement really looks nice and attractive because in addition, customers no need show coupon to receive this rebate. Customers can straightforwardly ask the barista to enjoy this promotion. The advertisement shows the Frappuccino look having a good taste and worth to buy it since it was only half price to get it within these few days. Hence, customers will be lured to buy it. The Frappuccino looks rich and smooth as well and its background’s design is neat and simple. This design can give a good and pleasant image to customers. In addition, this advertisement mentioned that it was a new product so customer will willing to try it with the offer price. Starbucks stores are meticulously designed to make customers stay longer, buy more, and come back for another visit. Starbucks often advertises new products on its doors and also places advertising between the ordering counter and the buffet where you pluck up
Starbucks primary objective is to establish the company as the most recognized and respected brand in the world (Starbucks Website). Starbucks is a gourmet coffee shop so they must increase their name brand so as to justify their gourmet status. In order to maintain its success Starbucks must implement an effective implementation plan. A company may have a great product, but if it fails to identify a specific market, or to use a proper marketing plan, it will not be able to successfully reach the consumers. Over the years Starbucks has been successfully able to take simple activity carried out at home to the pinnacle of commercial success. By expertly executing their marketing strategy Starbucks has taking coffee service to an art form.
Customer service is probably the most valuable intangible product that a company may sell. It may create both satisfaction and dissatisfaction. It is a process whereby a service provider offers help to the customers who need it or it may as simple as a human assistance to the customers who are dealing with the company or organization. It is a tool that an organization may use to gain loyalty from the customers besides offering good tangible products. For example, customers may expect good service when buying new apparels, but this is unlikely to be the primary factor in deciding whether to make a purchase (Businesscasestudies.co.uk., n.d.). Factors like price, comfort, style and brand are likely to be more persuasive (Businesscasestudies.co.uk., n.d.). However, a bad service can lead to dissatisfaction and discourage the buyer to make a purchase.