Part 1:Look for popular press articles that discuss new or existing products. Â In your post, summarize the article and then discuss which principle(s) of marketing are illustrated by it. Â Please include a link to the article. Please find attached examples from teammates for references.Dont copy paste the same thing.
The article I found is about Starbucks and their product of coffee and other types of drinks they sell. Spiced lattes have helped their sales revenue since it is the fall season. Employees going into the office more frequently now has also bolstered sales since consumers tend to purchase Starbucks on their way to work. A few principles of marketing Starbucks are using include the product aspect of the 4ps. For example, in the fall Starbucks launches new types of drinks for the type of season they are selling in. In the fall it is pumpkin spice as a new flavor. Whereas in the Winter months they may promote peppermint in their drinks. The article also indirectly discusses market segments. A main segment for them is people who drive to work and who enjoy coffee, or other caffeinated beverages. This demographic is primarily working adults. Starbucks also has a loyalty program which saw its active membership increase by 16% over the last quarter. This type of loyalty program is a great example of conditioning, where a user is rewarded for making more purchases at Starbucks.
Recently, Kohler came out with a new technology called PerfectFill. This technology allows users to fill up or drain a bathtub with only a voice command. There is a drain kit and a digital valve that work together to create the perfect temperature and depth for your desired bath. There is an app called “Kohler Konnect” that allows users of PerfectFill to control their bathing options if that is preferred to the voice command option. If the voice command option is preferred, it can be used through Alexa or Google.
This article does a great job of explaining the product and what it entails. The article also mentions that the price of the product is $2,700, including the price of install. The price also does not include the cost of a Kohler spout or bath if you currently do not have a compatible spout and bath. This article also talks about the kind of people who may be a part of the target market for this product, such as parents who want to run a bath for their children while they are very busy.
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