Analysis economics of Starbucks 1. Business and pricing strategies 9. Entrepreneurial ability of managers C. References Introduction Starbucks, what started in Seattle in s by three friends:
Starbucks marketing Question 1 The consumer decision process implies a number of stages that the buyer will go through before actually making the final buying decision. The main goal of a marketer is to know what a consumer is lacking of.
Starbucks has satisfied their customers in each step of the decision making process to guarantee the retention of customers. Problem recognition, information search, alternative evaluation, purchase and post-purchase behaviour are stages included in the consumer purchasing decision making process Friesner, Problem recognition According to Karimithe first stage is Starbuck essay recognition of the particular Starbuck essay.
The purchaser wants to satisfy a want or a need that is emerging. The buyer sense that something is absent and desires to resolve it in order to be satisfied.
The arousing recognition of a need by internal stimuli which are thirst and hunger and external stimuli such as advertisement exposure. Starbucks is among the famous coffee trademarks in the world.
The relaxing and chill ambiance of Starbucks which is suitable for consumers to chat and hangout will attract consumers because of the lifestyle and image portrayed by Starbucks. Consumer will move on to the next stage which is the information stage after the problem is recognised.
Information Search According to Pernercustomers search for information regarding the services or products which has been recognised in the problem recognition stage.
The level of involvement and the complexity of the purchase will affect a consumer to seek out for less or more informations. Consumers will seek for information internally or externally during information search stage. Previous experiences of the customer are known as internal information.
Consumers will remember the past experience they had with the coffeehouse which include the amusing ambient, brilliant customer service and the coffee aroma in the shop after recognising their needs. Informations which are obtain from family and friends are external informations.
Customers seem to trust the recommendations coming from friends and family more rather than commercial info.
Starbucks Coffee believes that consumers will always come back for more coffees and will share their experiences with the people around them about the quality coffee and good customer service provided.
Once the consumers have collected all the information regarding the different brands or products, they will be able to value each of the alternative products which are offered.
The customers would evaluate the products based on quality, price, or other features that satisfy them the most in this evaluation stage.
Customers are more demanding in choosing the product that fits them most. Starbucks is offering a warm and pleasing place for consumers who plan to enjoy the drinks with their networks and family at a comforting atmosphere. Besides that, baristas which are the drink makers will create a sincere connection with their consumers which will bring benefit to Starbucks Chand, What is more, in the consumer purchase decision making process, location of the outlet might be one of the evaluation standard.
Customers usually choose the outlet that offer them convenience and suits their own favourites like the design, services, music played and atmosphere. Convenience can be seen where Starbucks are positioned at the most strategic and tactical position universally.
The position of the shop is with great people traffic and great prominence which is situated nearby office lots, university campus and commercial retail shops. Thus, Starbucks Coffee easily access by customers who needs to buy coffee.
Once one of the outlets is pack with customers, prospective buyers will be able to visit the next nearest Starbucks outlet to relish their coffee there. This approach will proficiently upsurge customer service as well as retaining customers.
Purchase Consumers will pick the most suitable brands and outlets among the many choices after valuing each of it at this stage. At this stage, free testers are given out to consumers by Starbucks to introduce other different type of drinks.
This method will improve the consumer purchasing process that will make a consumer satisfied with their beverages. Nevertheless, the consumer purchase decision might be disturbed by the bad criticisms from other people.Starbuck’s goal is to become the leading retailer and brand of coffee in each of its target markets by selling the finest quality coffee and related products, and .
Historically, Starbucks focused on the introduction of innovative approaches to business and became one of the first companies in the industry. In such a way, the company has managed to take the leading position in the market and has started to expand its market fast.
Emma Klein Kelly Dunbar Senior Project 19 March The company’s mission and goals have allowed it to succeed in a fast pace world, and Starbuck’s loyal customers have stuck by their favorite brand through it all. The Starbucks experience is unique from all others. The history and progress of the company have.
Apr 22, · Words: Length: 4 Pages Document Type: Essay Paper #: Starbucks is the established leader of the coffee and coffee-based beverages across the entire world.
The company helped create business history through the innovative ideas of Howard Schultz and it became established as an epitome of business success.
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