HND Marketing Principles Study for StarBucks Coffee

Marketing is defined as the action or activities performed by the organization to promote and sell its products and services and to attract more and more customers to the organization. It also includes market research and advertising.  It is also defined as process which is used to identify, anticipate and satisfy customer requirements. Kotler has defined the marketing in a different way. Marketing is creating, communicating and delivering the value of product and service to the customer. The way it is excecute is known as marketing principles. Knowing the consumer behaviour is also a very important part of marketing. There are various principle of marketing. How a strategy like international expansion can be done with the help of marketing or how marketing principles like SWOT, PESTLE, Segmentation, Targeting, Positioning etc. are very important while implementing any strategy. This can do with complete analysis by taking Starbucks as an example. Starbucks is one of the fasting growing organizations in retail sector. It is known for selling premium coffee and snacks. It is a huge brand name and it has its own store in all the major countries. It started its business in USA in 1971 and then it expanded to major countries of UK. Any major decision or implementing any new strategy in an organization impacts various people or organizations. All these people or organizations are called stakeholders of the organization. Organizations have very strong hand in marketing principles to be successful in this competitive world. Important elements of marketing are SWOT analysis, PESTLE analysis, macro and micro environmental factors, promotion and advertising, segmentation, targeting, positioning, 4 P’s, extended P’s for service industry, B to C and B to B marketing, domestic and international marketing, stakeholders analysis, porter’s five force model etc. Promotional activities are one of the most important parts of marketing objectives. There are two types of promotional strategies which are push and pull strategy. When we promote or advertise our product for end user then it is called pull strategy. It is dome through television advertising, radio etc.

It is excerpt from the HND marketing Assignment, it is taken from HND Assignment help.