Why the price of Starbucks products is expensive to think that the Philippines is a third world country? Do you think you get value for your money when you buy Starbucks products? Explain
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For the most part, Starbucks is a master of employing value based pricing to maximize profits, and they use research and customer analysis to formulate targeted price increases that capture the greatest amount consumers are willing to pay without driving them off.........
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Aside from inducing people into buying Starbucks to experience more than just the commodity, Starbucks employs “the premium pricing” and “price skimming” strategies to increase their profits. Starbucks targets consumers with lower price elasticity for demand.
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