1) Design contributed to the five asset categories to build brand equity in the following ways: Brand awareness The mermaid and the dark green background are the most distinguished elements involved into the logo, especially the distinctive green color. Importantly its locations, consumers, brand image and a distribution network, selling a lifestyle (an intrinsic value) Brand Personality A new standard in the retail industry for UBIQUITY. Its design is most successful in their product categories. The impact of a name reinforces the importance of branding when we promote our business.
The unique customer experience is at the heart of this remarkable company’s success. Brand Loyalty Perceived Quality / Value Starbucks is well-known for providing premium products and superior services. It serves various consumers preferences and tastes not only coffee but also non-coffee products such as [email protected] beverages (coffee-free) , chocolate beverages , refreshers beverages , smoothies and bakery etc (still emphasizes on core product; coffee). Besides, it aso offers customizes the beverages like quanity of espresso shot syrup flavors, milk, beverage temperature and sizes to each consumer preferences.
Consumers enjoy the experience they encounter at Starbucks both people and place; beyonding simply acquiring the products (Experiential brand). The store circumstances with simplicity design and nice music is more comfortable and upbeat meeting place. Starbucks believes “Employees as partners and the most important assets;making business growth toghter with them. It creates nice working environment, employees treat each others with respect and acknowledge in individual differences. Brand Association
Starbucks provides atmosphere with consistent store design and contemporary music soundtrack . It also offers wide range of customized coffee, beverages and etc,modern facility, uniqueness globally recognizable and globally good and standard customer services. 2) How has Starbucks dealt with issues of brand equity customer equity and brand positioning? a) Starbucks deals with brand equity by; Brand Equity is a phrase which is reflected the value of a well-known brand name, base on how customers think feel and act with respect to the brand, prices, and all regarding to the brand name.
The green and white Starbuck logo is widely recognized. Starbuck creates Brand Equity by turning an everyday beverage into a premium product. Starbuck coffee has defined themselves not only a product, but also attitude and lifestyle. Starbucks builds a high degree of customer loyalty by offering various flavors that reflect the different moods and taste to provide all levels of customers. In addition, making Brand Loyalty strongest by launched souvenirs as Starbucks coffee brand themselves available in their coffee shop as well.
Then with the experience and brand loyalty with the atmosphere of the place has made customer releasing from stresses, all these things to increase the brand equity. b) Starbucks deals with customer equity by having a global standard of their services through procurement, location, and staffing. In order to achieve high customer equity, it is necessary for Starbucks to increase its customer perceived value and loyalty. In terms of Customer Perceived Value can be defined as a the way that customers can feel about the product or brand compared with the cost in which they paid for.
For example, personalized service of Starbucks which you can make it your drink, comfortable environment, excellent customer service, high quality and modern image. c) Starbucks deals with brand positioning by continuing to focus on the customer. They position themselves by appealing to adult of all ages as a comfortable coffeehouse. Customers should associate Starbucks with top quality products and services that are accompanied with calming and relaxing atmosphere. They just give a promise to the customer is “we give you a moment in your day where you can just escape and spoil yourself”.
Cite this Starbuck Brand Equity
Starbuck Brand Equity. (2016, Nov 14). Retrieved from https://graduateway.com/starbuck-brand-equity/