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Starbucks Chocolates HUI YAN YI KATHY LAU HOI LING JOANNE LAU YAN LING JENNY TO CHIN PANG BEN WONG WA CHUN RYAN Content Retail sales mix by product type Segmentation & Targeting Sales Management Strategy Retailing - 4P - Push-Pull Strategy Internet Marketing Reference Retail sales mix by product type Packaged Others coffee and 5% tea 4% Sales Food 18% Beverage (Coffee+noncoffee) 73% Lifestyle Sourced by Starbucks Fiscal Annual Report 2014 Segmentation & Targeting Lifestyle The need for change or newness Psychographic Serious Coffee Drinkers Quality of Coffee Social Conscious CSR and Fair-trade Men and Women Well-educated Demographic Non-coffee Drinkers Still want to be part of social environment Food item buyers Become second main revenue stream Chocolate Bakery Cake and dessert Food Item Sales Management Strategies Starbucks Implementation of sales strategy Sales force management Formulation of sales strategy Sales Management Strategies Employee Creating the Starbucks Experience to customers. Delivering legendary customer service. Modeling and acting in accordance with Starbucks guiding principles. Source: http://www.starbucks.com.hk/aboutus/become-a-partner/retail-careers Sales Management Strategies Personal Customer Satisfaction Selling Advantages in promoting and selling our new product – Chocolate. effectively when customers are on the verge of making a final decision and committing themselves. Well Chocolate Knowledge Consultant More Core Value Promotion Retailing – Marketing Mix Strategy 4P Product – Starbucks Chocolates Features: Taste: Rich, Smooth & Fluid filled Unique Starbucks Coffee Flavours Price – Premium Price Skimming Pricing Strategy (Positioning of Branding) High price-high quality Strategy (Cocoa bean, Hand-make chocolate) Set Price: $15-18 (Competitors: Agnes B: $20/pc, Godiva: $30/pc) Box set: 6 /12 /18 pcs Source: (McCarthy, 1960) Retailing – Marketing Mix Strategy 4P Promotion Pre-launch: Free Tasting for Starbucks Members Seasonal: Limited Flavours Box Edition - E.g.: Christmas Red Chocolate box matching with new design of coffee cup Off Season: Cross Selling with beverage, increase revenue strategy Special Promotion: Member Birthday, Starbucks Rewards Place Exclusive Distribution Strategy - Only in the Starbuck Coffee Shops - Maintaining High Hand-made quality Source: (McCarthy, 1960) Push - Pull Marketing Strategy Push Strategy Advertisements in Coffee Shop E.g.: Poster or Banner Direct Selling to Customers E.g.: Introducing by the Staff Displaying other products for attracting the customers to buy at the same time E.g.: Coffee Mugs Pull Strategy Advertisements on Print Media E.g.: Magazine, Newspaper, Leaflet Pulling customers into stores to try the promoted product Highly visible brand, encourage customer seek out the product Source: (Fahy & Jobber, 2006) Internet marketing strategies Internet management strategies: E-retail is Sale of goods and services via the Internet or electronic channels for the personal or household use by end users. Transactional. Website: Cannot purchase any products but eGift card to someone. Source: http://www.starbucks.com.hk/ coffeehouse/merchandise Internet marketing strategies Focus on E-marketing: company and products information, promotion etc. Website has the Manu, company info, promotion, new products and introduce CSR policies to enhance image. Facebook: interacting in Facebook community with customers YouTube: advertising video eg Christmas. Source: https://www.facebook.com/ StarbucksHongKong/?fref=ts Internet marketing strategies Starbucks uses e-marketing to present the image and information in the Internet. It attract customers to visit store to see the Chocolate. Reference Fahy, J., & Jobber, D. (2006). Foundations of marketing. London, United Kingdom: McGraw-Hill Education. McCarthy, E. J. (1960). Basic Marketing: A Managerial Approach. Illinois, USA.: Richard D. Irwin. Starbucks Hong Kong. (2015). Fanspage. Retrieved 15 November 2015, from https://www.facebook.com/StarbucksHongKong/?fref=ts Starbucks Hong Kong. (2015). Merchandise. Retrieved 15 November 2015, from http://www.starbucks.com.hk/coffeehouse/merchandise Starbucks Hong Kong. (2015). Retail Careers. Retrieved 15 November 2015, from http://www.starbucks.com.hk/about-us/become-a-partner/retail-careers