Write a 1,400- to 1,750-Word Paper in Which You Describe the Elements of the Marketing Mix (Product, Place, Price, and Promotion). in Addition, Select an Organization with Which You Are Familiar and Describe How Each

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Marketing Mix Of Starbucks Starbucks is a leader in the coffee industry and a mogul in the business world. Starbucks is now the largest chain in the world of coffee houses. They purchase and roast whole bean coffees to sell, along with handmade tea beverages, food items, and coffees that are sold inside their retail stores. “As of Oct 3 2010, Co. has 8,833 company-operated retail stores and 8,025 licensed stores worldwide (Starbucks)”. To maximize brand recognition and brand awareness to become the most respected and recognized in the coffee world, Starbucks implanted a marketing program that uses marketing mix to satisfy the wants and needs of its large target audience. Discused below is the breakdown of the marketing mix: product,…show more content…
“The additional service underscores the importance of gift cards to the coffee company. In 2010, customers loaded more than $1.5 billion onto their Starbucks Cards—an increase of 21 percent over 2009. Today, one in five Starbucks transactions is made using a Starbucks Card (Starbucks Debuts Digital Gift Cards, 2011).” In addition to Starbucks gift card success, the eGift initiative gives customers a quick and personalized option. The eGift gives customers an online option to choose a gift of Starbucks over other opportunities to obtain gift cards. This addition appears to have given customers more convenient options to purchase at no risks to Starbucks, while enjoying the financial effects and low cost of implementation. Promotion Starbucks has indicated that while it is a risk to promote the Frappuccino Happy Hour initiative, sales from the Frappuccino alone has helped make Starbucks the number 1 coffee giant it is today. Sales from the Frappuccino will most likely account for the majority of its sales over the next several months. Recently, it has been quoted that the Frappuccino is a $2 billion a year product. Starbucks previously reported that the sales for its instant coffee, reached a $100 million, while it took the Frappuccino initiative about three years to reach that level of sales. Nevertheless, Starbucks sales continue to grow, with second quarter sales up 10% compared to a year ago. Starbucks strategic planning initiatives

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