A user on social media went to a Starbucks and he was puzzled by the the price of the bread of the dead, demonstrating the importance of brand equity.
Various brands of coffee shops are found around Mexico the world, for example Tim Hortons, Cielito Querido Café, Hard Rock Café, Manga Café, among many others, however, there is one that has managed to stand out from all of these, Starbucks. In accordance with Statista, this American chain managed to increase its number of coffee shops in 2020 to more than 32 thousand worldwide, managing to operate in more than 80 countries through its own establishments by 51 percent and operating licenses by 49 percent. hundred.
Are coffee shops Their main objective is to target an audience of medium-high socio-economic status, since indeed their drinks can be expensive for a good part of the population. This has been a topic touched on several occasions by users on social networks, where they doubt whether this price to pay is reasonable or not, since we can find cheaper alternatives. However, this is where a company’s brand equity comes in. Statista shows that the brand value of this company in 2010 was around 7,502 million dollars, having a constant increase until 2020 with 47,753 million and even registering a growth of 60,267 million in 2021, managing to grow even in times of covid.
This has been achieved due to its effective strategies, surely you have already heard the phrase in networks: “Starbucks doesn’t sell coffee, it sells experiences“. This and other types of actions such as your Pick-Up service, have made the brand grow and increase its Brand value exponentially.
The dead bread It is part of a Mexican tradition during the month of November that seeks to symbolize the circle of life and death, however, this has become over time a good marketing strategy to increase sales in different businesses and stay present on these dates , for which international companies are responsible for offering this product annually, such is the case of Starbucks.
A user on social networks has shared a photo on Twitter, showing that the Pan de Muerto is already on sale at StarbucksHowever, its price surprises you and prompts you to wonder what is it made of?
$ 43.00 a pan de muerto at Starbucks What will it bring? Carl Sagan’s ashes or what? pic.twitter.com/4SbBjrPUtB
– Teach me about Science (@EnsedeCiencia) October 8, 2021
Like him, different users have joined the conversation and join the thought of said user, concluding that despite being expensive compared to a bakery and other brands, people continue to buy it.
I am not surprised by the price but who buys it …
– CéSaR🎧 (@ psicCesar16) October 8, 2021
They must be Mexican pesos. But still very expensive.
– Adriana Chiluisa (@drychiluisa) October 8, 2021
Indeed, the cost of pan de muerto at Starbucks it has a higher price compared to other brands; for example, According to the site of WalmartThese would sell the bread of the dead at 13.90 Mexican pesos each piece.
Starbucks has demonstrated once again with the price of his bread of the dead that brand equity influences (and quite a lot) the price of products or services, especially because it does not seek to satisfy the needs of any type of public, if not one that has enough purchasing power to be able to afford this type of luxury.
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