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- 1. CRAFTY CREW • MOHIT •ADARSH • KULDEEP • AKASH • AMAN
- 2. STARBUCKS MAKING A REMARKABLEBRAND MARKETING STRATEGY
- 3. MARKETING STRATEGY •A marketingstrategy is a business’s game plan for reaching prospective consumers and turning them into customers of their products or services. •Marketing strategies revolve around a company’s value proposition. •The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over rival companies. •A thorough marketing strategy covers the four Ps of marketing: product, price, place, and promotion. •The ultimate goal of a marketing strategy is to achieve and
- 4. ABOUT STARBUCKS Starbucks Corporationis an American global chain of coffeehouse and roastery reserves headquartered in Seattle, Washington. It is the world’s largest coffeehouse chain. The company has over 33,833 stores in 80 countries and is expected to maintain its robust growth momentum. Starbucks ranks 114th on the Fortune 500 companies and 288th on the Forbes Global 2000. The brand, which was founded in 1971, has changed the way people drink coffee outside of their homes and workplaces. The company sells a variety of premium coffees, handcrafted beverages, tea, and other products through both companies operated and licensed stores. Tata Starbucks, which launched in India in 2012, is a joint venture between Starbucks and India’s Tata Consumer Products. Both partners have driven Tata Starbucks to be far more aggressive in terms of store openings, new formats, and expansion into new cities. The company operates nearly 252 Starbucks stores in 26 cities across India. Starbucks has invested a significant amount of time and resources in marketing and consumer loyalty over the years and innovation in coffee, advanced food options, and innovation in premium craft iced teas.
- 5. MARKET SEGMENTATION OF STARBUCKS DEMOGRAPHIC GEOGRAPHIC PSYCHOGRAPHIC BEHAVIOURAL AGE22-60YRS OLD GENDER MALE AND FEMALE OCCUPATION PROFESSIONAL EMPLOYEE AND STUDENT REGION USA ,CANADA,MIDDLE EAST,ASIA,AFRICA AND PACIFIC REGIONS DENSITY URBAN SOCIAL CLASS UPPER MIDDLE AND UPPER CLASS LIFESTYLE EXPLORER MAINSTREAMER ASPIRER BENEFITS SOUGHT DEGREE OF LOYALTY HARD CORE LOYALTY PLACE CONDUSIVE FOR WORK,FORMAL AND IMFORMAL MEETING ENJOY A PRREMIUM QUALITY COFFEE WOTH A RELAXING AMBIANCE
- 6. STARBUCKS MARKETING MIX Thesuccessful marketing strategies of Starbucks address all four Ps of the marketing mix: product, price, place, and promotion. It strengthens Starbucks’ position as the world’s leading coffeehouse chain. Let’s See how these four Ps contribute to Starbucks’ success.
- 7. Starbucks has establisheditself as the go-to spot for premium coffee. Starbucks offers an unmatchable and unrivaled experience for its various products. They guarantee that every time they craft a high- quality premium cup; it will be perfect, which will keep customers coming back. In addition to its beverages, Starbucks is known for its branded merchandise. Starbucks distinguishes itself from other coffee chains by selling beautiful lifestyle products. Their merchandise is almost as well- known as their coffee. It is most likely the only coffee chain with such a diverse selection of lifestyle products.
- 8. Starbucks has implementeda premium pricing strategy. The price is justified by the high-end technology and variety it provides, as well as the best customer experience. Many customers believe that high-quality products come at a high cost. Premium pricing helps them keep their quality promise and cater directly to their ideal customer’s lifestyle preferences. Their brand strategy is built around two main pillars: customer experience and quality. Starbucks has increased the perceived value of its brand by providing a unique, consistent “Starbucks experience.” As a result, customers are willing to pay a higher price for a cup of Starbucks coffee.
- 9. The success ofStarbucks chain stores is largely due to its omnipresence. Customers can access the brand almost anywhere thanks to the brand’s extensive global presence. Do you require a coffee , Starbucks is just around. Each store has a fantastic ambiance. Starbucks “Third Place” positioning strategy has led to people seeing it as another essential place to visit after their home and office. People don’t have to limit themselves to its stores to get their drinks and snacks. People can also find their products through other channels. The new online service has resulted in yet another breakthrough for the brand.
- 10. Starbucks actively promotesits products on social media platforms such as Facebook and Instagram, in addition to paid advertisements such as TV commercials and print ads. It’s the combination of marketing media that makes their brand recognizable, and the consistent message that comes across every time that distinguishes them. Starbucks also offers reward programs to existing customers to encourage them to stay loyal to the brand. It employs a multi- channel promotional strategy and is active on all social media platforms through contests, hashtags, and other promotions. This brand brings its seasonal offers and menus to every occasion. Starbucks never misses an opportunity to engage its customers in innovative ways. PROMOTION
- 11. Starbucks goal isto become the Third Place in our daily lives. (i.e. Home, Work and Starbucks) “They want to provide all the comforts of home and office. one can sit in a nice chair, talk on phone, look out the window, surf the web, and drink coffee too.” New Starbucks locations in China are welcoming customers to bring along their pets for a cup of coffee. Located in the cities of Guangzhou and Chengdu, these paw-friendly cafes feature the standard Starbucks menu, as well as have a menu specially designed for pets. The brand started to provide free WIFI in all its stores in 2002, encouraging customers to stay for longer periods after their purchases, and satisfying buyer preferences for continued connectivity.
- 12. Starbucks has successfullyestablished a social media culture that any marketing team would be proud of. Every brand’s lifeblood is defined by its content. Starbucks’ content demonstrates the company’s commitment to consistency and innovation. Starbucks creates a lot of content, Depending on the type of user, each social media platform has different content. In its Tweets, Starbucks shares everything exciting that is going on at the company, from new products to insider stories. Customers are encouraged to photograph and share photos of their Starbucks coffee cups and locations on social media. These are reposted and used in campaigns by the brand. This allows them to share information about referrals, special offers, and other Starbucks-related events.
- 13. The Tweet-a-coffee campaignallowed customers to pay a coffee for anyone on Twitter by tweeting @tweetacoffee and a friend’s handle. By doing this and linking their Starbucks account to their Twitter account, a $5 gift card would be given. More than 27,000 users tweeted a coffee. This burst of activity brought in more than $180,000 in sales in just a couple of months. #THEREDCUPCONTEST Starbucks red cups became a tradition, a sign for Christmas. In 2014 and 2015, they started a holiday #theredcupcontest on Instagram. Users need to share, tag photos of their red cups, include the #theredcupcontest hashtag for an opportunity to win one of the five prizes. In 2015, every 14 seconds in the first two days, there was a photo shared on Instagram, collecting a total of 40,000 entries over the course of the contest.
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