Starbucks is a global iconic brand. Howard Schultz started the now incredible coffee chain from a single store in Seattle, which was owned by separate owners, and turned it into the most recognizable coffee shop in the world. What is the secret to their success?
“Jaret, what do you mean…inexpensive. Starbucks is $4 a coffee.”
$4 for coffee is expensive…
But $4 is next to nothing to spend on a high status item.
How much does a Chanel bag cost?
$5,000, if you’re lucky.
How much does a Mercedes cost?
$50,000 for an entry-level one.
Starbucks is the upper echelon of coffee.
When you carry the cup around, people immediately think of high status.
Howard Schultz is a genius
in the way he built the brand
with his expansive vision.
He did this by maintaining the quality and prestige of the brand.
Nice furniture, nice decor, a clean and friendly atmosphere.
The “Baristas” or what other coffee shops call staff, will give you a fresh cup of coffee if you drop or spill yours with no questions asked.
Highly trained, well respected.
A good hiring process comes from the top down.
Starbucks gives great benefits so it attracts a higher quality employee.
”I don' t care to belong to any club that will have me as a member.Groucho Marx
We all love exclusivity.
We all want to feel significant.
This is one of the biggest human drivers and motivators in people.
Tony Robbins mentions how this is one of the 6 fundamental human needs – the need to feel important.
When we carry around an expensive brand name watch on our wrist or an expensive brand name belt on our hip, it makes us feel good and respected by our peers as someone who “made it”.
Starbucks does that for us at a very inexpensive rate.