Here are some of the pricing strategies that are taken by Starbucks. They focus a lot on their promotional activities, especially during different events and holiday seasons. Their brand identity is very exquisite which helps to boost their sales even though their products are not inexpensive. But their pricing and branding are quite target-oriented. When it comes to their branding and promotional activities, they take on the premium approach. ![]() Starbucks is very calculative when it comes to its pricing strategy. Details Discussion on the Pricing Strategy of Starbucks But Starbucks has been successful with this method. The value-based pricing method is not so common among firms as it’s quite difficult to implement this approach. They also believe in profit maximization where they determine the price according to their production level to generate the maximum amount of profit. This helps to keep the consumers connected to the brand. Before determining a suitable strategy for the organization, they analyze their consumer’s behavior thoroughly and then formulate the prices according to their target audience. Starbucks uses multiple strategies, among which value-based pricing has been their go-to choice for profit maximization. ![]() Types of Pricing Strategy Applied by the Company Their pricing strategies have been able to keep their consumer base consistent. People have been loving their coffees for the last five decades. Currently, Starbucks has over 33 thousand stores in 80 countries. Starbucks is an American multinational coffeehouse that was founded in 1971 and thriving ever since.
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