Do you like Starbucks? How much do you spend on Starbucks per year? Many of us go starbucks 6-8 times a month and spend more then we would ever think just on getting Starbucks, Would you go to another Coffee store if there is a new one opening, the answer will probably be no for most of people. Why do we like Starbucks so much even though the price of it isn't cheap?
We know that the Law of Demand proved that the price and quantity have inverse relationship:when price goes up ,the quantity goes down,when price goes down, the quantity should go up. It might not be the case for Starbucks, although coffee is not inelastic production.It is hard for a different store to have the same popularity as Starbucks.
Starbucks is been around for more then 40 years, everyone knows it,and we can find a starbucks almost everywhere we go. It is convenient, and when we say coffee,most of us would think of Starbucks. But if people just don't like coffee or Starbucks, it wouldn't matter whether there is a new coffee or not!
5 comments:
My biggest question is why do people love Starbucks so much? How has Starbucks changed the demand for coffee over the past 40 years? Isn’t coffee just warm bean water? Why is their warm bean water so much better (and it is, I love Starbucks)? Is it not only taste and options but the convenience of it?
Starbucks is addictive, it's something that we can't say no to. Because we have such an elastic relationship with coffee, we are willing to pay much more than we really should, just because we want it so desperatly. While it may not seem like a good idea, we are willing to pay up to double the price for half the drink. You do have to admit though, that's some good warm bean water...
-Claire
Wherever you may be in the world, you will find people looking forward to enjoying their morning pick me up cup of coffee. Coffee is so popular as a beverage that our consumption is said to account for a third of our total consumption of free tap water. So coffee is important in our daily life.
Starbucks is consistence, people can find it in Tx, NY, or China.
We might think that Starbucks is unassailable,but it actually didn't work all that well at some points. So the people had to make it work again. Making the Starbucks different was the goal. Little by little, starbuck changed a lot, from the driving through to more comfy chairs.
Starbucks not only have coffee,it also has yogurt, tea, and other good stuff,which makes everyone happy to go there.
Also,that "warm bean water" can make make someone feel special,because Starbucks is always popular.
It is comfy sitting in Starbucks just to talk to friends.It is a good place to relax.
It's not just about coffee in there,Starbucks tries to figure out what people want. They take care of the coffee bean,they make them tasty. So people like their coffee.
Starbucks, in my opinion, is the evolution of coffee. They have created so many products and different kinds of flavors for coffee, it's amazing. The more kinds of coffee they make and the better it is than the rest, the more people will want it. When someone says coffee almost anyone will immediately think Starbucks. That's because the demand for their type of coffee is so much greater than anyone else's and most people will spend the extra money to buy something from Starbucks than rather make coffee at home. They can get so many more flavors from Starbucks and it will make their day better. I think that Starbucks could raise their prices on anything in the store and people would still buy it on a normal basis. They might stop and get a little mad that the prices went up, but they're so addicted to it, it wont matter for them. I will gladly spend more money to get a passion tea lemonade or a peppermint mocha. Starbucks will never lose business and the demand for it will be higher every year with the new products and flavors that they come out with.
Starbucks is really popular because of the delicious food and drinks, the comfortable sitting area, and the free wifi. If Starbucks didn’t have the sitting area or the free wifi, do you believe that the number of customers they have will decrease? I do, because the sitting area and wifi are there to draw in customers to spend more time there while drinking the drinks and even buy more so they can stay longer. If people learned to make there own coffee and have it taste almost as good as Starbucks then the demand for Starbucks coffee would decrease.
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