Consumer Behavior, Nostalgia and Motivation, with a look into starbucks - level 4
Contents
1. Introduction pg …3
2. Discussion on Memory/Nostalgia pg …4
2.1 Discussion on Motivation pg …6
3. Conclusion pg …8
4. References pg …10
1. Introduction.
Starbucks are a successful coffee brand established in 1971. The company started out as a single store in Seattle’s historic Pike Place Market. Today they now occupy over 15,000 outlets in 50 different countries, and they market themselves as the premiere producers of specialist coffee in the world. Their mission statement is ‘to inspire and nurture the human spirit – one person, one cup, and one neighbourhood at a time’. Starbucks market themselves as a responsible company with a goal that by 2015 all their produce will be ethnically sourced, and all their cups reusable and recyclable (Starbucks 2011). The current global recession has led in Starbucks sales taking a huge dip, causing their share value to fall by 38%. This has led them to change their marketing strategy to keep market share, introducing instant coffee and cut price breakfast deals which are sold at 25% less than in previous years. (Wall Street Journal 2009)
The term consumer behaviour is a very broad term covering numerous subjects. According to (Solomon, 2006, pg 7) ‘…It is the study of the processes involved when individuals or groups, select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires '.
It could be argued that Consumer behaviour is a lot harder to predict within a recession with marketers unsure about how consumers will react. The fall in Starbucks sales exemplifies this.
This report aims to look at the consumer
1. Introduction pg …3
2. Discussion on Memory/Nostalgia pg …4
2.1 Discussion on Motivation pg …6
3. Conclusion pg …8
4. References pg …10
1. Introduction.
Starbucks are a successful coffee brand established in 1971. The company started out as a single store in Seattle’s historic Pike Place Market. Today they now occupy over 15,000 outlets in 50 different countries, and they market themselves as the premiere producers of specialist coffee in the world. Their mission statement is ‘to inspire and nurture the human spirit – one person, one cup, and one neighbourhood at a time’. Starbucks market themselves as a responsible company with a goal that by 2015 all their produce will be ethnically sourced, and all their cups reusable and recyclable (Starbucks 2011). The current global recession has led in Starbucks sales taking a huge dip, causing their share value to fall by 38%. This has led them to change their marketing strategy to keep market share, introducing instant coffee and cut price breakfast deals which are sold at 25% less than in previous years. (Wall Street Journal 2009)
The term consumer behaviour is a very broad term covering numerous subjects. According to (Solomon, 2006, pg 7) ‘…It is the study of the processes involved when individuals or groups, select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires '.
It could be argued that Consumer behaviour is a lot harder to predict within a recession with marketers unsure about how consumers will react. The fall in Starbucks sales exemplifies this.
This report aims to look at the consumer
References: Armstrong, G and Kotler, P. (2010) Marketing: An Introduction. 9th ed., London: Pearson Prentice Hall Holmwood, L. (2009) Hovis Commercial Rises To The Occasion To Win Top Award. The Guardian,[Online] [12th March [Accessed on 15/12/2011] http://www.guardian.co.uk/media/2009/mar/12/hovis-advert-award Reagan, M. (2007) Marketing with Maslow [online] [Accessed 28/12/2012] http://timr.ca/RecentArticles/Marketing/Maslow.html Reinhart, C. (2011) Hierarchy of needs in Marketing, ehow Money [Online] [Accessed 29/12/2012] http://www.ehow.com/info_8468635_hierarchy-needs-marketing.html Soloman, M. (2006) Consumer Behaviour: Buying, Having, and Being, 7th ed., New Jersey: Pearson Prentice Hall Starbucks (2011) Webpage. [Online] [Accessed on 28/12/2011] http://starbucks.co.uk/about-us/ Statt, D. (1997) A Psychological Approach. Basingstoke: Macmillan Press Ltd Wall Street Journal (2009) Starbucks to Present Recession Strategy [Online] [Accessed on 29/12/2011] http://online.wsj.com/article/SB123723335325646025.html Wells, W. Prensky, D. (1996) Consumer Behaviour. Chichester: John Wiley & Sons, Inc