Mcdonald's marketing mix (4ps) analysis

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A Starbucks café in Warsaw, Polvà. Starbucks Corporation’s sale mix (4Ps) equally emphasizes the elements of hàng hóa, place, promotion, and price to lớn tư vấn the company’s brvà image & competitive advantages in the coffee shop industry. (Photo: Public Domain)

Starbucks Corporation (Starbucks Coffee Company) has a kinh doanh mix (4Ps) that supports the firm’s industry position as the leading coffeehouse chain in the world. The sale mix identifies the main components of the company’s sale plan, namely, sản phẩm, place, promotion, and price (the four Ps). In this business analysis case, Starbucks uses its sale mix as a way of developing its brvà image và popularity. With the strongest br& in the industry, the company shows how an effective sale phối supports brvà development và multinational business growth. Starbucks changes its marketing set over time as a way of responding lớn strategic challenges in the market, including competitive sầu forces involving firms lượt thích Dunkin’ Donuts, McDonald’s, Burger King, & Wendy’s, as explained in the Porter’s Five sầu Forces analysis of Starbucks Corporation. Such changes in the marketing mix emphakích thước the company’s need to lớn evolve its various business operations khổng lồ maintain effectiveness against growing competition.

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The sale phối or 4P functions as a kinh doanh tool for establishing a unified and systematic approach to lớn bring Starbucks Corporation’s products to lớn food and beverage markets around the world. Effectively doing so supports operational effectiveness in other areas of the business. In the context of the sale mix, it is of critical importance khổng lồ apply a suitable combination of approaches for promoting the right products offered at the right places at the right price. The effectiveness of this mixture supports strategies in various business areas & advances the attainment of Starbucks Corporation’s mission and vision statements.

Starbucks Coffee Company’s Products

This component of the kinh doanh mix focuses on what the business offers khổng lồ customers. Starbucks Corporation continues to lớn innovate its sản phẩm mix khổng lồ capture more of the food and beverage market. The company adds or modifies product lines, with the aim of expanding its market reach & growing its market nội dung. The following are the main categories of Starbucks products:

CoffeeTeaBaked goodsFrappuccinoSmoothiesOther foods & beveragesMerchandise (mugs, instant coffee, etc.)

Starbucks Coffee Company’s hàng hóa mix is a result of years of business innovation. For example, the company added the Frappuccino line after it acquired The Coffee Connection in 1994. The business also has an ongoing hàng hóa innovation process that aims to offer new products lớn attract & keep more customers, especially because the business must attract a diverse population of customers in the international market. Thus, this part of Starbucks’ kinh doanh phối involves beverages, foods, và merchandise that are carefully selected or designed lớn satisfy the needs and preferences of target consumers worldwide.

Place in Starbucks Coffee Company’s Marketing Mix

This component of the marketing set determines the venues at which customers can access the products. Starbucks offers most of its products at cafés or coffeehouses. However, there are various other places or channels of distribution available for these products. In this case, the following are the main venues or places that Starbucks Corporation uses khổng lồ reach its target customers:

Coffeehouses/CafésRetailersSmartphone apps

Initially, Starbucks sold its products through coffeehouses. Eventually, the company offered some of its products through its online store. This approach served as a major integration of e-commerce into lớn the company’s strategies. However, Starbucks ended its online store operations in 2017. The strategic change reflects the company’s shift to focus on in-store experience in brick-and-mortar coffeehouses. Nonetheless, some of Starbucks’ merchandise items are available through retailers. On the other h&, điện thoại apps allow customers khổng lồ conveniently place their orders online so they could easily get their food and drinks at the company’s coffeehouses. This part of Starbucks’ sale set shows how the firm adapts lớn changing times, technologies, và market conditions.

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Starbucks Promotions (Marketing Communications Mix)

This component of the kinh doanh set refers to lớn the communication strategies used to lớn disseminate information about the firm & its products, và lớn encourage customers lớn buy these products. Starbucks Corporation promotes its products through interpersonal relations and communications, although advertising is also part of the promotional approach. In this case, Starbucks’ promotional mix is as follows:

Word-of-mouth marketingAdvertisingSales promotionsPublic relations

Starbucks became popular primarily through word-of-mouth kinh doanh. In the marketing mix, word-of-mouth usually focuses on providing the best customer experience in order to lớn encourage people to lớn spread positive sầu words about the business. The company also advertises its products through television, print truyền thông, & the Internet. Sales promotions are used in Starbucks Rewards, which is a program involving freebies that customers can avail after purchasing a certain amount of the company’s products. The corporation infrequently uses public relations, which has not always been successful for the business. For example, the Race Together public relations chiến dịch was widely criticized. Still, the Starbucks Foundation continues its efforts lớn solve sầu various challenges in society. The Foundation helps communities, while promoting the company’s brands. This part of Starbucks Corporation’s marketing phối shows the core significance of word-of-mouth sale, advertising, và the supporting roles of public relations & sales promotions for the coffeehouse chain business.

Prices and Pricing Strategy of Starbucks Coffee Company

Starbucks uses a premium pricing strategy. In the sale phối context, this pricing strategy takes advantage of the behavioral tendency of people lớn purchase more expensive sầu products on the basis of the perceived correlation between high price and high value. The company’s coffee products are more expensive than most competing products, such as McDonald’s Premium Roast. Through this pricing strategy, Starbucks maintains its high-kết thúc specialty image. Still, the company strives to lớn develop và actually provide high chất lượng products and satisfactory customer experience in its coffeehouses. This part of the kinh doanh mix directly relates to Starbucks Corporation’s generic competitive strategy, in helping the business maintain its premium brvà image.

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