Starbuck create brand equity by turning an everyday beverage into a premium product. Starbuck coffee defined not only a product, but also attitude and personality together. In addition, Starbuck also launched various flavours that reflect the different moods and taste.
Branding has been one of the pivotal elements of Starbucks strategy over many years. The Starbucks Siren logo is one of the most recognisable logos in the world.
You may be asking “How would you define innovation for Starbucks?”
For Starbucks, innovation should not be limited to bringing new products to markets , but should be extended to encompass many internal functions such as innovation in channel communication (with customers and other stakeholders), innovation in organizational cultures (work practices and internal brand practices).
Why is starbucks successful?
Here are a few reasons why Starbucks has been so successful . Starbucks has done extraordinarily well in creating a concept where everyone can have a great experience drinking coffee in an inviting ambience. Starbucks has a customer-centric culture. They see the business from the perspective of the guest.
According to O’Donovan (2004) in the four years since going public, the chain of coffee bars has become wildly successful by turning one of the world’s most pedestrian beverages into a premium product , wrapped in a carefully cultivated, widely recognized brand name that extends far beyond what’s in the cup.
The reason that their customers come back is the quality of the coffee and the quality of the experience , and the experience comes to life because of the employees. Starbucks believes in a good, competitive business strategy that is facilitated by a devout passion for the product.
It is a brand that’s defined as much by attitude as it is by products. The Starbucks “experience” is about more than a daily espresso infusion ; it is about immersion in a politically correct, cultured refuge from everyday hassles.
Another thing we wondered was: what is the formula for success at Starbucks?
My best answer is the Company’s formula for success is mainly based on the following: Employees’ Approach: The key retail success of the Starbucks brand is determined by people’s interaction with the Company’s experience, and the culture and values of how they relate to customers.
How did Starbucks change the world?
To find answers to some of these questions, let us look at one of the world’s most iconic brands – Starbucks. Founded in 1971 in the city of Seattle, USA, the brand has changed the way the world drinks coffee outside home and work .
One of the next things we asked ourselves was: what is Starbucks trying to do with cultural differences?
Starbucks is not a stranger to creating a coffee drinking experience or even educating a consumer segment in how to drink coffee outside home and work. But the concept of cultural differences in terms of how time is spent outside and for what activities need to drive the local marketing strategies for the brand.
Is Starbucks still a global company?
Nowadays Starbucks still retains its worldwide position recognised as one of the most successful globalized company that has created a strong brand and international experience. Article (2004) Starbucks – taking on the world: Can the coffee retailer join the all-time greats?