November 26, 2012
C. Jeanine Fulton
Marketing Mix Paper
Marketing Mix is one of the traditional tools used by marketing to achieve its objectives. The marketing mix is important for the growth, and continued existence within an organization, and it sustain out of elements such as product, place, price, and promotion. All these four elements make the marketer achieve an agreement between organization and customers expectations. Let’s look closer what each of the elements mean to the market and organization.
Product can be anything that can be offered to a market for attention, acquisition, use, or consumption which is needed wanted, and might satisfy consumption. Product includes services and physical objects, organizations and its ideas. (Kotler, Armstrong, Saunders, & Wong, 1999). Product is a key element in the market offering. The marketing-mix starts with targeting customers by offering the best value of the offer.
Place marketing involves activities to create, maintain, or change attitude to particular places. The idea to market a place depends on target of attractions. Cities, states, regions, and even entire nations could be attractions to the tourists, new residents, conventions and, or company offices and factories. However, place can be involve within goods and services reaches the user or customer through the services provider. Place in marketing includes different types of coverage, assortments, locations, transportation and logistics. Therefore it is important to know what is the best distribution place would be for product.
Price applies to product and services including the values which customer exchanges for the benefits having, or using the product or service. Customers pay with price for product and services. Price factor plays deciding role in market including the value of the product, and services, also specific product has specific price in the market. Price has sensitive effect on customers; therefore price should be flexible up to a certain point.
Promotion refers to the products and targeting customer to buy it. The best way to get customer buy the product by advertising it. The key includes sales, advertising, and direct marketing- to reach consumers. As they advertise in newspaper, magazines, radio, television, and Internet, the promotion can also include in-store demonstration, displays, contests and visiting celebrities (Gary Armstrong and Philip Kotler, 2011). Other important key of promotion is the communication of the marketing messages to the target market, the choice of the element and the timing of initial promotion.
Marketing mix of Starbucks Coffee: Starbucks Coffee company is named after the first mate in Herman Melville’s Moby Dick, the logo is an inspiration by the sea-featuring a twin-tiled siren from Greek mythology. It has started back in 1971, when whole bean and ground coffee, tea and spices were roasted and retailed in one single store in Seattle’s Pike Place Market. Today’s Starbucks mission is to inspire and nurture the human spirit- one person, one cup and one neighborhood at a time. They believe was always to serve the best coffee possible, the goal of the company for all of the coffee to grow under the heights standards of quality, using ethical sourcing practices. The coffee buyers for Starbucks Company personally travel to the coffee farms in Latin America, Africa and Asia to select the highest quality beans. The master roaster brings out the balance and rich flavor of the beans through the signature Starbucks Roast. The stores of Starbucks are like neighborhood gathering place for meeting friends and families over cup of coffee. Customers enjoy quality service, and inviting atmosphere in total of stores over 17, 651 around the world.
Starbucks offers the fines coffee in the world, grown prepared and served by the finest people. The company offers range of exceptional products that customers enjoy