THE INTERNATIONAL MARKETING MIX (STARBUCKS)
- Discuss the environmental convergence and divergence between the home country and its host country. What are the company's unique and identical mix ?
The internationalization strategy of Starbucks involves using three approaches which wholly-owned subsidiaries, joint ventures, and licensing. The licensing procedure is used when Starbucks wants quick expansion in a particular country. The marketing mix identifies the main components of the company’s marketing plan, namely, product, place, promotion, and price. Starbucks uses the environmental convergence in the home country and host country to provide a unique and identical mix of products overall. The company shows how an effective marketing mix supports brand development and multinational business growth. Starbucks changes its marketing mix over time as a way of responding to strategic challenges in the market. The marketing mix or 4P functions as a marketing tool for establishing a unified and systematic approach to bring Starbucks Corporation’s products to food and beverage markets around the world. Effectively doing so supports operational effectiveness in other areas of the business. In the context of the marketing mix, it is of critical importance to apply a suitable combination of approaches for promoting the right products offered at the right places at the right price. The effectiveness of this mixture supports strategies in various business areas and advances the attainment of Starbucks Corporation’s mission and vision statements.