Investigating Starbucks’ Marketing Plan: The Key to Success
The dedication to continuous branding has made Starbucks a major success today, placing 5th on Fortune’s list of the World’s Most Admired Companies. This American global chain of coffee shops has come a long way on its journey, now operating in 70 different nations. Social media marketing, digital marketing, search engine optimization, and the appropriate post-marketing analysis are all components of the Starbucks marketing plan.
For firms with limited resources, it is practically hard to duplicate Starbucks’ complete marketing approach. But even startups can profit from understanding and using the fundamental ideas and strategy behind Starbucks’ marketing approach.
What Is the Target Market for Starbucks?
Starbucks has been able to distinguish itself from rivals like Costa and Cafe Coffee Day by always understanding exactly who its target audience is and serving a certain group of individuals.
Starbucks attracts a majority of its clients from the upper-income strata because it is a premium coffee brand. It caters to young individuals and those looking for a quiet place to have coffee. Male and female high-end customers in the 22–50 age range make up its clientele. Consequently, the Starbucks target market includes:
- High-earning individuals
- professionals who value their health
- technological pioneers
- coffee addicts in youth
Starbucks’ Rewarding Marketing Techniques
Starbucks’s marketing strategy divides its clientele into socioeconomic groups. The brand is outstanding because of the distinctive offline experience and continuous internet marketing efforts.
Advertising Mix
The four Ps are very effectively incorporated into Starbucks’ marketing mix.
Product: The expensive price is justified by the high-quality goods. They make sure the coffee is superior to those of its rivals in flavour. Its barista The allure of having your drink fixed if you don’t like it has drawn large crowds.
Price: Starbucks sells their coffee for at least 25% more than competing brands. Customers are willing to pay extra since it gives outstanding drinks and meals and costs more.
Promotion: The business employs a variety of platforms to market its products, including social media, TV, and advertisements. They stand out because of their marketing mix. Starbucks spends the least on marketing compared to other significant global brands like Apple but still has a significant impact. Why? The effective Starbucks marketing plan has been the deciding factor.
Place: Each Starbucks location creates a similar, upscale, pleasant environment that draws customers.
Key Takeaway: By offering a superior experience and outperforming the competition, your brand may command a greater price.
Expanding digitally
By introducing fresh strategies to draw in clients who have registered online, Starbucks’ marketing approach integrates digital interactions with customers. In its stores, it provides mobile ordering options and Wi-Fi sign-ins. The ability to use Starbucks cards instead of cash has helped the company’s revenue grow.
Social Media Strategy for Starbucks
Starbucks’ social media channels feature distinctive branding, aesthetically pleasing material, and engaging postings. The wide variety of content includes essays, movies, recipes, eye-catching photography, and more. In addition to the visual appeal, Starbucks’ social media marketing plan divides the material stream into various initiatives.
Advertising Throughout COVID-19
Starbucks prepared marketing strategies as the Covid-19 outbreak spread over the world in order to survive in these extraordinary times. The business regularly made adjustments, taking the following actions to lessen the financial impact:
Expansion: To maintain contact with their customers during difficult times, Starbucks announced the introduction of drive-thrus and home delivery. In order to make it simple for clients to browse and buy their primary items, they also released their app in India.
Social media campaigns from Starbucks: The firm began its #ReconnectWithStarbucks campaign in an effort to increase user engagement. They requested suggestions from their fans for ways to stay in touch despite the pandemic. Additionally, they exhorted them to use the hashtag #ReconnectWithStarbucks while posting their fondest Starbucks moment on Instagram. The “Half Cup Full” campaign was another successful one.
Customers were required to comment on the Starbucks page with their preferred beverage, and to remind them of the in-store experience, they were also required to send voice notes of baristas addressing them by name along with their preferred beverage.