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Feb 20, 2024
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1)
Discuss at least 3 examples from the video (and the approximate minute in the video) on how coffee as a "product" has changed over time.
To begin, Around the minute 7 mark, the creation of the Starbucks experience represents ways that Starbucks has been able to differentiate itself from its competitors by creating a unique experience for its customers. This includes the ambiance, music, and customer service. Creating a one-of-a-kind experience, as discussed in Chapter 4 of the textbook, can be a powerful tool for influencing customer behaviour. It can improve the customer's perception of the product and encourage them to return.
To continue, Starbucks' use of innovation and product diversification around minute 12 has helped this brand keep customers interested and engaged with the brand. New coffee blends, food items, and even merchandise are included. As discussed in Chapter 13 of the textbook, businesses that want to stay competitive and grow should focus on innovation and diversification. Furthermore, Starbucks has a strong brand identity and has successfully marketed itself to its target audience, as demonstrated around minute 14. This includes utilizing social media platforms, collaborating with other brands, and capitalizing on the influence of influencers. Branding and marketing are important tools for businesses looking to establish themselves in the market and attract customers, as discussed in Chapter 9 of the textbook.
2)
List at least 3 examples from the video of how Starbucks (and the approximate minute in the video) has had success in the coffee business. Discuss examples from our course
book (and Chapter) that help to explain these successes.
When it comes to coursebook concepts, the development of the Starbucks experience is a prime example of the value of the customer experience as discussed in Chapter 4. Starbucks has been able to establish a loyal customer base and clearly distinguish itself from its rivals by offering a unique and memorable experience.
Second, Starbucks' ability to innovate and diversify its product offerings has contributed to the company's ability to remain relevant and competitive in the market. Starbucks has been able to keep customers engaged and interested in the brand by constantly introducing new products and services. As discussed in Chapter 13, such an aspect clarifies the significance of power innovation and diversification.
Finally, Chapter 9 discusses the role of branding and marketing. Starbucks has a strong brand identity and has successfully marketed itself to its target market. Starbucks has established itself as a trendy and popular brand that appeals to a wide range of customers by leveraging the power of social media and influencers.
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We will work on a customer empathy analysis
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