Marketing Mix Ã¯Â¿Â½ PAGE Ã¯Â¿Â½1Ã¯Â¿Â½
In marketing there are many essential tools that aide in creating successful marketing strategies, however a solid understanding of the most important set of tools is the marketing mix. By use of example of a successful company the marketing mix will be further explored through discussion of the Four P's, analyzing the impacts that the marketing mix may have on the overall marketing strategy, in addition to exploring the implementation of each of the Four P's.
Starbucks Coffee located in Seattle, Washington was founded in 1971 at the well known Pikes Place Market (Starbucks Coffee, 2007). The company is known around the world and can be spotted on numerous streets by their green store signs and creative circular logo offering delectable rich roasted coffee creations. As the company grew so did the Starbucks product line, introducing sweets to accompany beverages, essential equipment for at home brewing, groovy sounds on CD that are played in store and a nice selection of gifts that any coffee drinker would enjoy receiving.
However, one of Starbucks key focuses is creating the ultimate customer experience. "Starbucks is masterful at wrapping its product in a deeply-textured gestalt. The choice of furniture and fixtures, the names of its drinks, the messages on the cups, the graphics, it's all been studiously crafted." (Hanft, para. 3, 2005). Not only is Starbucks dedicated to their customers but they are dedicated to their employees, the relationships they have established to conduct business, the communities that support them by giving back to non-profit organizations and project, but also a dedication to the environment by raising awareness of global warming and not to waste anything.
Marketing Mix and the Four P's
The marketing mix is defined as "the set of controllable,