Marketing Mix Essay

987 words - 4 pages

Running head: MARKETING MIXMarketing MixYour Name HereUniversity of PhoenixMarketingMKT/421Bonnie NichollosNov 12, 2007Marketing MixMarketing mix is defined as "the controllable variables the company puts together to satisfy this target group." (Perreault and McCarthy, 2004). This paper will describe the four elements of the marketing mix which are product, place, price and promotion and how each of the four elements of the marketing mix impacts Starbucks' marketing strategy.The first Starbucks opened its doors in 1971 in Seattle Washington. One of Starbucks key focuses is creating the ultimate customer experience. Starbucks is dedicated to their customers and to their employees; the relationships they have established to conduct business, the communities that support them by giving back to non-profit organizations and project, but also a dedication to the environment by raising awareness of global warming and not to waste anything.ProductThe Product area is concerned with developing the right "product" for the target market (Perreault and McCarthy, 2004). Starbucks has a wide range of products and has innovative ideas for their coffee creations, from a hot Caramel Macchiato to a Java Chip Frappuccino. For the non-coffee drinkers Starbucks offers Tazo tea drinks, hot cocoa, juices and bottled water. Starbucks also offers seasonal specialty beverages such as the Gingerbread Latte and Peppermint Mocha served during the holidays.As the company grew so did their products and services introducing items such as fresh packed ground Starbucks coffee, sweets, fruit cups and sandwiches. Starbucks introduced an extensive line of coffee and tea apparatuses, storage containers, cute gift trinkets, gift cards, CDs and in home espresso makers. Starbucks also offers services beyond the stores such as wireless internet services and newspapers available for customers to enjoy while relaxing in the store or for purchase. All the products and services that were introduced by Starbucks are related to coffee and catering to the customer experience.PlacePlace simply refers to where will the product or service be sold. A product is not much good to a customer if it is not available when and where it is wanted (Perreault and McCarthy, 2004). Starbucks is the largest coffeehouse company the world, with 7,521 company-owned and 5,647 licensed stores in 40 countries, making a total of 13,168 stores worldwide. ( For busy people Starbucks offers the convenience of drive-through locations. Starbucks satellite locations can be found in local retail stores such as Barnes and Noble Book Store or on the shelves in air tight sealed packages or in the freezer section with yummy coffee flavored ice creams at the grocery store. It is typical to see several Starbucks in one town, even in a small town. I live in a small town in California with a population of about 76,000 and my town has 4 Starbucks all of them equally busy serving customers.PricePrice is the determination...

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