Popular Internet Marketing Strategy of Starbucks
Starbucks is established for making and delivering coffee at their best level. They said “ one person, one cup of coffee and one neighborhood at a time.” Howard is the founder of this company, he is 58 years old, he belongs to a poor family, he is graduated in business and marketing. He joined Starbucks as marketing director in 1982. In 2008 he became CEO of Starbucks.
For every successful company, it is compulsory to have a proper and effective marketing strategy. Through marketing strategy, customers attracted towards the product. Basically, the purpose of marketing is to give awareness about your product, to attract the customers, retain the customers and make them loyal to you. The marketing strategy may have included the segmentation, targeting, market mix, SWOT analysis, etc.
Marketing strategy is distributed as:
Market segmentation approaches:
- In demographic segmentation, they target 18 to 45 years old
- They targeted youngsters who want to gather with friends
- They satisfy those customers who think that “coffee is cool.”
- This coffee was for those people who love to try new things.
Market positioning strategy:
Starbucks is a well-known brand and highly ranked in the market. Starbucks have the distinguished power that makes it different from other brands. It is at an above level from its competitors. It focuses on customers, so they provide best products and services to their customers. Because they think customers are the best asset. Their customers are satisfied with their coffee and services. Their customers are highly satisfied, and loyal to them, as well as their employees, are also satisfied.
Brands of Starbucks:
- Starbucks coffee
- Sea tells the best coffee
- Tazo coffee
- Evolution Fresh
Starbucks PEST analysis:
P- Political Factors
E- Economic factors
S- socio-cultural factors
T- technological factors
Bucks have relations with the US, they have control government, so political factor is stable.
They have continuously demanded of foods and coffees. But increase or decrease in disposable income can change the purchase level of consumers.
They can change their product level according to preference of consumers
Bucks improves its technology to make better his place in the market and in mind of the customer.
Product: coffee, fresh food items, handcrafted beverages, Starbucks ice cream.
Price: according to consumers affordability
Placement: high visiting areas, malls, airports, etc
Promotion: Advertising, public selling, personal selling, sales promotion
Starbucks has a well-defined marketing strategy. Every company like Starbucks need a proper marketing strategy to enhance its business. They should know about their strengths, weakness, opportunities and threats. There are many ways of marketing. But with the passage of time and advancement of technology, it is time to promote marketing strategy on the internet. Starbucks may develop marketing strategy on the Internet by using its official website, pages on Facebook and ads on different websites. Starbucks is a big name in branding, but till now Starbucks is trying their best in marketing strategy. They are struggling for new strategies to improve their market value.