Marketing Matrix Analysis for Starbucks Company
The American based company, Starbucks, products, packages and distributes coffee products to local and international markets. Clarity of objectives is instrumental in order for the company to meet its sales targets in both markets. Through an elaborate marketing matrix, the company reaches its customers in the local as well as the international market. The first strategy in the marketing matrix is the product definition. Through a lucid product definition, the company can get to the target market as well as make the consumers aware of the uses of the marketed products (Solomon et al., 2009).
Product definition is followed by branding and effecting pricing. In addition to this, the company also uses availability as a marketing strategy. Through convenient and timely deliveries, the company manages to bring products to their customers in different places. This is made possible through a robust sales and distribution team. The company clearly defines its scope of supply to avoid high expectations from customers. Similarly, the prices are set at optimum value to gain sustainable profits.
Apart from the definition and availability of products, pricing and promotion also play a critical role in the marketing matrix. The company carries out promotional activities aimed at increasing customer awareness of their brand (Lamb et al., 2012). This is coupled with product specification and branding to accomplish the objective of gaining market control and command. To achieve this objective, the company implements the marketing mix strategically. Promotion depends on the available media such as print and internet services. On the other hand, the product definition has to be in line with the company key objectives, the pricing conforms to the market dynamics and the availability depends on the strength of the distribution networks available.
Lamb, C. W., Hair, J. F., & McDaniel, C. D. (2012).Essentials of marketing. Mason, Ohio: South-Western Cengage Learning.
Solomon, M. R., Duke, C. L., & Nizan, A. (2009).Launch! Advertising and promotion in real time. Irvington, N.Y.: Flatworld Knowledge.
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