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Place is the sites at which the company avails its products. This includes channels of distribution from the distribution point to the end customer. Starbucks attempts to minimize the distance customers have to move to the point where the product is sold. This is followed by targeting the appropriate target market before making decisions on how the products will be availed to them. For instance, because Starbucks is selling trendy food products, opening stores in rural areas will not bring any profits. They must take their products to locations where youthful people tend to hangout such as malls and multiplexes. This is the only way for them to gain maximum attention from the target market (Haberer, 2010).
Moreover, Starbucks must develop a pattern of being alert to offer the ease of shopping. When Starbucks diagnosed their customer based, they realized that they are serving the busy working class. These are financially stable people but lack the time to buy Starbucks products. Therefore, the product cost involves bot the price and time invested in purchasing the products. This means that if Starbucks reduces the price for their products, it will not make any significant changes. Instead, it would be advisable for the company to consider reducing the time involved in purchasing their products. This has been successful; the firm has introduced virtual outlets in bus stands and subway stations where customers can pick items on their way home. This strategy managed to increase their sales rapidly (Lamb, Hair & McDaniel, 2012).
Promotion
Starbucks engages promotional tools that take products closer to the...
In addition, promotional strategies have enabled the company increase awareness in the market. They achieve this through internet and TV advertisements. Their prices are not driven by optimum sales but their ability to promote products. They produce products meant for customers and ensure that customers are aware of these products. Starbucks offers discounts and spreads word about the discounts. This is pushed by mediums such as TV, billboards and internet. Such mediums of promotion have been effective for Starbucks because they create the urge for customers to purchase products produced by the company (Haberer, 2010).
Conclusion
The mission statement of Starbucks is the source of the values guiding the company's decisions. This involves inspiring and nurturing people and the human spirit at a time. For years, Starbucks have lived their values by ethically sourcing their products and services to enhance the lives of people who develop the company; in the manner in which the firm participates in the external environment where they do their business, care for the surrounding neighborhoods and operating their stores (Gitman & McDaniel, 2009).
References
Lamb, W., Hair, F., & McDaniel, D. (2012). Essentials of marketing. Mason, Ohio: South-
Western Cengage Learning.
Gitman, J. & McDaniel, D. (2009). The future of business: The essentials. Mason, OH: South-
Western Cenage Learning.
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