MKT 320F 1-16 Notes - Foundations of Marketing GET BOOK...

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Foundations of Marketing 1/16/08 GET BOOK - 16 th Edition Article: “Starbucks: Big Boomer” -A global giant - then and now: -Began as a single café in Seattle in 1971 -Today, operates in 36 countries -Company-operated stores: 1,434 -Franchises, joint ventures: 2,170 -Annual revenue in 2005 - 6.3 billion What are some of the factors that contributed? -The 4 P’s (Product, Price, Place, Promotion) -Product - Does Starbucks sell just coffee or is it something more? -Price - Is price the reason why people go to Starbucks? -Place - Concept of the Third Space: place to go other than home or work -Promotion - Are ad campaigns and branding efforts effective? -Does Starbucks do market research before entering a new market? -What kind of image does Starbucks convey to the consumer? -Starbucks owns Seattle’s Best - creates its own competition at lower price to attract more customers to its company Marketing - What’s it all about? -More than selling or advertising -Bicycles - brands make a difference (Trek - Lance Armstrong) - different types
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