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Compare and critically analyse United Kingdom marketing strategies of Starbucks Coffee Company and CaffМ¬ Nero Group Ltd - Essay Example
Author : gusikowskiorvil
Pages 6 (1506 words)
Date Marketing Strategies of Starbucks Coffee Company and Caffe Nero Group Ltd Brief Information about Marketing Strategies Marketing strategy is an important nexus between the products that are constantly produced and the final consumers of the products…
In marketing strategy, the driving force is the customer satisfaction, in this sense, the aspect of marketing research always precedes marketing research such that the reaction of the consumers is known with regard to the product (Naude, & Ivy 13). In this regard, the business of marketing strategy is to influence the decision of the customers towards a product. Marketing strategy therefore focuses much on building a strong customer base that eventually translates into increased profit margin for the customers. Having conducted a proper marketing research and conceiving the findings, marketing strategy then take effects (Egan 111). At this stage, the precursor of marketing strategy is the marketing plan which gives a structural breakdown of how the strategy will be rolled and the avenues to be explored when reaching the prospective customers effectively and efficiently with the least cost possible (Brennan 114). A marketing plan considers what is popularly known as four Ps i.e. product, price, place, and promotion. This information assists in devising a proper marketing strategy. Marketing strategy is one of the most important inputs any business should endeavor to engage in however big or small the business may be. ...