Marketing Mix
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Marketing Mix
MKT/421 Marketing
April 13, 2011
Marketing Mix
Every organization markets their goods or services with the use of marketing mix. The marketing mix includes four elements. The four elements consist of product, price, place, and promotion, known as the four P’s. The marketing mix helps organization with the target market. Organizations use a combination or all of the elements for effectiveness (Perreault & Keller, 2009). Starbucks Coffee, a gourmet retail coffee shop, uses the marketing mix effectively.
Product
The first P in the marketing mix is product. Product “involves a physical good, a service, or a blend of both” (Perreault, Cannon, & McCarthy, 2009, p. 36). Product also includes “variety of product, quality, design, brand name, packaging, size, or service” (Kotler & Keller, 2009, p. 23). Starbucks offers the “world’s finest fresh-roasted whole bean coffees” (Our Heritage, para. 2). Starbucks’ logo is known around the world. Starbucks offers teas, coffee makers, mugs, and gift cards in the coffee shop. Starbucks whole bean or ground coffee is available in grocery stores. The stores provide Wi-Fi connection for customers who enjoy surfing the web. Starbucks has items for consumers whether he or she drinks coffee or not.
Price
The second P in the marketing mix is price. The price of a product or service depends on the competition pricing and the demand for the product or service (Perreault, Cannon & McCarthy, 2009). Starbucks offers three drink sizes, tall, grande, and venti. By offering different sizes, consumers purchase his or her drink within their budget. Starbucks drink prices are competitive with other coffee shops. The whole beans or ground coffee sold in grocery stores is comparable to the other brands on the market. When the coffee bean industry rises, Starbucks tries not to pass the increase to the customer.
Place
The third P in the marketing mix is place. Place also refers to the channel of...
MKT/421 Marketing
April 13, 2011
Marketing Mix
Every organization markets their goods or services with the use of marketing mix. The marketing mix includes four elements. The four elements consist of product, price, place, and promotion, known as the four P’s. The marketing mix helps organization with the target market. Organizations use a combination or all of the elements for effectiveness (Perreault & Keller, 2009). Starbucks Coffee, a gourmet retail coffee shop, uses the marketing mix effectively.
Product
The first P in the marketing mix is product. Product “involves a physical good, a service, or a blend of both” (Perreault, Cannon, & McCarthy, 2009, p. 36). Product also includes “variety of product, quality, design, brand name, packaging, size, or service” (Kotler & Keller, 2009, p. 23). Starbucks offers the “world’s finest fresh-roasted whole bean coffees” (Our Heritage, para. 2). Starbucks’ logo is known around the world. Starbucks offers teas, coffee makers, mugs, and gift cards in the coffee shop. Starbucks whole bean or ground coffee is available in grocery stores. The stores provide Wi-Fi connection for customers who enjoy surfing the web. Starbucks has items for consumers whether he or she drinks coffee or not.
Price
The second P in the marketing mix is price. The price of a product or service depends on the competition pricing and the demand for the product or service (Perreault, Cannon & McCarthy, 2009). Starbucks offers three drink sizes, tall, grande, and venti. By offering different sizes, consumers purchase his or her drink within their budget. Starbucks drink prices are competitive with other coffee shops. The whole beans or ground coffee sold in grocery stores is comparable to the other brands on the market. When the coffee bean industry rises, Starbucks tries not to pass the increase to the customer.
Place
The third P in the marketing mix is place. Place also refers to the channel of...