it helps to define the tactics to make the marketing plan happen. Opportunities for growth include international expansion, product innovation, and strategic alliance. 2. It has also used it to build customer loyalty and become the No 1 in the coffeehouse market in the UK. It has a sparse presence in India but has an amazing and mature franchise in UK. The food lovers are the promoter of their company or the food item and as result they are considered as the key promotional partner to marking of the product. Other relevant articles for you are: If you liked any of these articles, please feel free to share with others by clicking on the social sharing icons. The marketing mix is also called the 4Ps and the 7Ps. The 7Ps of Marketing is the Price, Place, Promotion, Product, People, Process and finally, Physical Evidence. Promotions in the marketing mix of Costa coffee promotions are almost absent in the case of Costa coffee. It has had a companion recently in conjunction with Channel 4 UK which saw a number of Channel 4s familiar hosts and actors having in-person conversations in its stores. Now, with the PESTLE analysis conducted above, it is important to understand the companys internal environment so that a well-rounded understanding of the companys position can be realized with which the future marketing plan can be strategically obtained. The practical phenomenon of Costa is that Costa basically develops and synchronizes the marketing mix of this in response to the product of Coffee. This is due to the quick adaptation by our youth and their fondness towards the new trends. Market analysis in the Marketing strategy of Costa Coffee - Coffee consumption in globally is growing at the rate of 2%. Team Leader, Area Manager, Retail Manager, Sales Manager. Do you have a 2:1 degree or higher? Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. It is vital for a business to understand its marketing mix so that it knows which elements to focus on and how to use them effectively. The costa coffee and the probable acceptance of other valuable as well as the variation of product of Costa has become the highly valued for its customer from the any corner of the world those are actually the food loving people in the aspect of taking the tastes of the food. The Baristas are quick to serve and always suggest other items to purchase, which in turn generates more sales as well. 3. People normally refer to them as the Service Marketing Mix. Costa is happy to be able to introduce a loyalty card scheme for the benefit of their customers and along with our high quality coffee is another reason for them to keep coming back. Besides these they use the bill board in different occasions to promote their product. It has also one of the widest connections among other UK coffee brewers made possible through a network of distributors and breweries. Although there are still strong glimpses of global recession at present, between 2009 and 2010 branded coffee market expanded to a great extent. Its distribution strategy includes opening stores in heavily populated areas with good transport links. Further strength is CCs wide range of products that speak of its strong retail base. More and more retailers are opting for different coffee brands. Background of Costa Coffee The global renowned brand is Costa Coffee. The attractiveness of any market depends on the certain factors that have to be duly considered before launching any new project and even after launching it to continue a balanced growth of the market share. With all these features, CC has expanded from UK to the global scene where it is out to grow even more in the times to come. Streamlined Portfolio of Brands, Marketing and Innovation to Power Coke's 2021 Strategy. Conventionally, the tool is used to identify whether new products, services or businesses have the potential to be profitable. Starbucks Marketing Strategy: The Most Popular Coffeehouse - Mageplaza Costa Coffee (CC) is a fast growing global coffee venture. 3.2.3 Economic (global) 8. The professionals on the other hand, always seem to be in the hunt for calming and serene locations to carry out unofficial or official business meetings. Moreover, premium pricing of Costa Coffee is more popular in the market as because it has the tag line that the product of premium pricing is highly valued and the quality with the taste of the food is exception up to the mind blowing. The biggest strength of CC is its being one of the most innovative brands in the UKs coffee market. Smart Business is to venture into markets that have opportunity for profit maximization. Starbucks decided to follow a premium pricing strategy. The Essay Writing ExpertsUK Essay Experts. Hence this would certainly increase the revenue generation. 3.1.1 Mark Size and its characteristics The Porters 5 Forces is a powerful tool for understanding where power lies in a business situation. Place is required for the promotion of the product. However, it can also be argued that it purses a competitive pricing policy as the competition in this industry is extremely fierce with famous brands such as Starbucks, Pret A Manger, and Caffe Nero are also vying for the market share. Track and visualise your KPIs in real-time with Hurree. For instance, it announced in 2021 that it would increase pay by 5% for the 14,500 staff working at its stores across the UK (Sky News, 2021). The company understands it very well and rewards employees accordingly. 4.1 Strengths of CC. It also focuses heavily on its home soil, the UK. This is a detailed assessment of the marketing mix of Costa Coffee (7Ps of Costa Coffee). Public relations is also the another form of promotion and it is the non-paid from of promotion. The product is not produced within a short time. However promotions us low key also because Costa coffee wants to rely more on word of mouth publicity. There is another belief to the customer mind that Costa Coffee is always delivering the quality foods which is good for health and there no exception to the pricing that could not be the matter of excuse as the fact of delivering healthy food as well as keeping the quality upto the standard. To accelerate the business they have chosen the place to the most attractive areas like shopping malls, office site, and corporate areas. He holds an MSc in Tourism & Hospitality from the University of Sunderland. From the beginning a number of TV channels have already started airing their programs art Costa. 7Ps of Marketing Mix: Explained well with examples - CaseReads p. 47- 52. Costa Coffee has applied a range of promotional techniques to attract customers. Costa Coffee is operating is business by the means of different outlets over the 31 countries. During these uncertain times Costa believes its customers would appreciate the offer of free coffee with the new loyalty card..