Starbucks is a popular coffee chain with an international presence. Brand Recognition is very much important for any business, belonging to any domain. But this is not achieved overnight. It requires putting in lots of effort, creative ideas, and implementing the right strategies. Only then will the set goals be achieved within the set timeframe.
About Starbucks
The premium coffee brand is known to have a global presence and is popular with consumers of all ages. It is rather an iconic brand popular for offering exceptional customer service and quality coffee products. But the question is how it achieved such tremendous success. Implementing unique marketing strategies is considered to be the main reason for its success.
Starbucks marketing strategies are stated to be a phenomenon of sorts that has enabled the brand to derive a competitive advantage and become an industry leader.
Marketing mix
The marketing strategies were found to address all four P’s involved in the marketing mix. It includes price, product, promotion, and location. These aspects have helped this brand to strengthen its global position as a popular coffeehouse chain.
1. Price:
A premium pricing strategy is adopted by this brand. It offers variety and an amazing customer experience backed by cutting-edge technology that justifies the price. Customers understand that they need to pay more to avail of superior quality products. Premium pricing enables quality and meets customers’ lifestyle preferences. Quality and customer experience are the main marketing plans of this brand. It has been offering a consistent, unique experience.
2. Product:
Starbucks is best suited for those who desire to taste and enjoy premium coffee. It offers an unrivaled and unmatchable experience for its diverse products. Moreover, they assure to craft superior quality premium cups all the time. It is sure to be perfect, thus compelling customers to come back for more! Besides beverages, it also deals in branded, beautiful lifestyle products that are equally popular like its coffee. It has also helped gain customer loyalty.
3. Promotion:
The firm promotes its products aggressively on different social media platforms, including Instagram and Facebook. It also invests in paid ads like print ads and TV commercials. Consistent messages combined with marketing media have helped increase Brand Recognition. It offers existing customers attractive reward programs to increase brand loyalty.
Multi-channel promotional strategies have also been adopted to improve customer reach. It has been holding contests, promotions, and hashtags on social media platforms. Unique menus and seasonal offers are made on all occasions. Innovative ways are devised to engage customers.
4. Place:
The success of its chain stores is mostly because of its omnipresence. Its extensive global presence allows customers to access it from almost anywhere. Each store is known to be well-kept and has a cool ambiance. Its ‘3rd place’ positioning Marketing Plan is what has made people view it as another place to visit apart from their office and home.
5. Branding consistency:
Being an international brand it needs to maintain consistent branding always. It includes sending messages, developing brand collateral, and every aspect concerning their in-store experience and design. With brand consistency, it has managed to develop a unique experience for its customers.
It has a classic siren logo that has been unchanged for a long time despite various redesigns. A green siren is sure to remind ‘Starbucks cup’. It manages to offer a consistent customer experience. Each published content piece adheres to the same language and visual patterns, including a series of guidelines simple enough for customers to comprehend.
Even their language, colors, and posts are consistent across diverse channels. For this firm, branding consistencies are cited to be successful marketing strategies. A core offering made is very much the same at all locations, despite the diverse regional services and products provided.
Hence, the accomplishments and strategies adopted by this firm are good enough for others to follow suit. The strategies adopted have helped it achieve customer loyalty, which in turn has led to an increase in its revenue.
