StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Assignment example - Understand the individual elements of the extended marketing mix: Starbucks

Only on StudentShare
High school
Pages 5 (1255 words)
In the extended marketing mix, Starbuck’s processes mainly include international license agreements and joint ventures (Pride 2011). Specialty operations in North American market include retail outlets…

Extract of sample

Understand the individual elements of the extended marketing mix: Starbucks

The company factors the costs of raw materials and water in determining the retail prices of coffee. One of the core objectives of the company is to make a profit thus a considerable mark up is included in the final consumer prices (Pride 2011). In order to attract demand during off-peak seasons, the company lowers its prices in certain market segments. The company has been able to remain competitive in pricing through keeping its coffee prices lower that prices charged by competitors like McDonalds. The company has adhered to all ethical requirements in its business processes by avoiding discrimination on pricing and respecting all employees (Pride 2011).
Promotional activities
Starbuck is committed to aggressive marketing communications and maintaining cordial relationships with all customers. Promotional activities mainly include personal selling through passionate baristas and word of mouth from satisfied customers. The company also engages in public relations activities through charitable contributions, parties, nationwide coffee break and juicy paintings. Starbuck utilizes the pull strategy model by promoting and advertising directly to the consumer (Pride 2011). Sales promotions to consumers include sample vans, short coffee cups, holiday websites, newspaper advertisements and radio advertisements. ...
Download paper
Not exactly what you need?

Related papers

Marketing Mix
These elements, also known as the four Ps of marketing include product, price, place and promotion. The marketing mix is therefore a combination of promotion, product place and pricing strategies intended to generate equally satisfying exchanges within a target market (Ehmke (2005). This particular paper therefore intends to provide a description of the various elements of the marketing mix.…
6 pages (1506 words)
Marketing Mix
All the element s of the marketing mix can affect consumers is multiple ways. Therefore, marketing mix is used by firms to achieve its objectives (Lancaster and Reynolds 2003). This happens when these marketing tools are employed by an organization to pursue the target market marketing of a product entails creating an excellent marketing mix with the right product being matched with the right…
8 pages (2008 words)
Understand the Individual Elements of the Extended Marketing Mix
Understand the Individual Elements of the Extended Marketing Mix …
6 pages (1506 words)
Marketing mix
All these suggest that the concept of marketing mix has evolved over time as the 4Ps were initially based on the production and supply context of the 1950s (Kent and Brown 2006). The model now encompasses aspects of sociology and cognitive psychology (Hakansson and Waluszewski 2005 cited in Kent and Brown 2006). Without marketing mix capability other concepts such as customer orientation,…
6 pages (1506 words)
Marketing MIx
One of the major success factors of Google is its effective use of marketing mixes. Product, Price, Promotion and Place are the four P’s of marketing mix. Nowadays, Package, Process, Physical evidence and People are the added elements in the marketing mix by many companies. In the case of Google, the first four elements are more relevant. This paper analyses marketing mixes; Product, Price,…
5 pages (1255 words)
Pizza Hut Restaurants Chain within the UK Analysed with Marketing Mix Elements
After passing several phases, today the chain is one of the well-established pizza chains of the world. Pizza Hut is the world’s leading pizza chain presently operating approximately at 13,000 locations in more than 90 countries. The chain, started by only two brothers, today has links in more than 90 countries across the world with more than 30,000 employees are working day and night (Yahoo…
10 pages (2510 words)
Why was the original marketing mix extended for the service sector?
organization may not survive or prosper effectively in this age of tough rivalry. This is because the customers act as the prime potency of any organization but they need to be presented with qualitative services so as to retain them for longer period of time. Only then, a service organization might retain its reputation and brand image in the market among other rivals. However, to do so it is…
7 pages (1757 words)