Courses Plans Blog LET'S CONNECT

Why is My Starbucks Coffee This Expensive?

Welcome back to my blog fans. I love having an outlet to share some of my random thoughts with you. I hope you find some of my topics of interest. Yesterday as I ventured out for the day, I decided that I wanted to get a Starbucks coffee. So excited for my coffee, I go through the drive through and order my one my favorite treats, a white chocolate mocha macchiato. After placing my order, the very nice cashier so pleasantly said, “Thank you for your order, that will be $6.25 (or something close to that amount)” and I began to wonder, I could get a cheaper coffee at McDonalds or a random coffee stand. I started to think about what makes Starbucks coffee different than other coffee’s and more expensive? How do they get to charge more? And then I remembered what I knew all along. Starbucks has made a name for itself that everyone recognizes. They created a Brand and it has been key to their success.

My Starbucks example is a great way to help you all understand the value of creating a brand. Starbucks Is known all over the world because they are achieving their mission statement daily. That mission, “To inspire and nurture the human spirit - one person, one cup and one neighborhood at a time.” When you drive through any neighborhood and pass a Starbucks, the majority of people recognize it. I would even venture to guess that even without a visible logo in front (which certainly helps), people would still recognize it. Maybe it’s the long line of cars in the drive thru or maybe it is the green color and the two tailed mermaid associated with their logo. There is a lot of history behind this logo that has now caused it to be a household name. You can learn more about it here: 1000logos.net/starbucks-logo/. Starbucks is a good example of the power of branding in an overall marketing strategy.

Branding consists of various unique identifiers that characterize a brand against similar brands, products, services, and competitors. A strong brand will create a reputation for itself. The reason Starbucks can price the way they do is because they have established a level of value for their products that people trust. That level of value started with having a succinct structure that people recognize. Great brands are valuable, recognizable, and promotable. That’s a great test for you when you are defining your product or service. Ask yourself will my client target audience recognize my product wherever they go, and can I promote my brand in a way that people will recognize me? Having a branding strategy is very important when you want to stand out against your competitors and make a name for yourself that people will recognize and value.  

What does a brand consist of? Great question. At the basic level, having a color scheme and a consistent look and feel that you can use your marketing is one way to start. That is a vital part of a brand. The more people see it, the more they associate it with the value that your product offers. A great tagline can also help your audience recognize the significance of your product. Having it be catchy and easy to remember like Nike “Just Do It” or “The Real Thing” by Coca Cola is key in ensuring it becomes a household or popular positioning. Check out some of the most famous taglines around the world here https://chartcons.com/100-famous-slogans In addition, creating a mission and vision statement will allow your audience to understand your goals in supporting them, growing and sustaining the business or directly supporting their audience over the long haul. These are just some components of a brand.

Want to learn more about creating a strategy that increases value, recognition and promotability for your brand? We can help. Just reach out at contentredefinedllc.com. Oh, and next time you purchase a Starbucks coffee, remember you can build the same kind of empire and create the same kind of revenue for yourself. You just need to start with a little bit of branding and some passion. It’s actually a fun journey, you just have to agree to take the first few steps. Happy Creating!

Close

100% Complete