Avoid These Sneaky Starbucks Marketing Strategies

What can be more tempting than the smell of freshly brewed coffee? Many Singaporeans cannot go without a hot cup of joe in the morning. The growing demand for coffee and its varieties increases the popularity of Starbucks. This glistening green mermaid houses products that end up costing more than expected.

Why is that so? Well, you end up spending more money with these marketing tricks.

ALL ABOUT THE AESTHETICS

While I was writing this post, I overheard a group of adolescents complaining how they dislike the potent taste of Starbucks coffee. In spite of this, they liked the look of the coffee cup and the establishment.

You see, Starbucks stores are all about offering aesthetically pleasing designs to catch customers’ attention. It begins with perfect lighting! The food is kept on the best lit area of the store. Drawing more attention is the small items right by the register. Candies, cookies, and nuts may seem affordable at the moment. However, these little things add up! You have to be wary.

Image Credits:pixabay.com

Furthermore, stores may rearrange their products to make you notice things that you have not tried before. Do not get me started with the Starbucks Reserve chains with fancier interiors!

SEE WHAT IS TRENDING

One thing is for sure! Starbucks has figured out how to keep their loyal fans happy. As they are constantly creating new twists of old standards, they keep grabbing our attentions. Let me introduce you to the Merlion Frap!

Do you remember the time when the pastel Unicorn Frappuccino stole the hearts of many Netizens? Unfortunately, this limited drink was not available in Singapore. Nonetheless, it was a genius move on a business perspective.

YouTuber thejetsets was intrigued by the pastel drink and decided to ask for a Singaporean rendition. Although the Starbucks baristas were taken aback at first, they eventually warmed up to the idea. They made a pink and orange frappuccino in creamy mango flavor. They called it the Merlion frap! Apparently, it tasted good.

THE ORDERING GAME

Starbucks has a loyalty program, which turns your orders into a game. What are the mechanics of the game? Each card holder needs to get to next level by earning stars (or reward points). Earn a certain amount of stars, and you get any one item (i.e., food or drink) on the menu for free!

Through the Starbucks app, you can find special offers, reload your card, and redeem your points. It is no wonder that many of your co-workers requested a Starbucks top-up on the Yuletide wishlist!

BEAMING CLOSE CALLS

I, for one, enjoy a good slurp of Bubble Milk Tea. I often ask if the size I want is available. In cases when it is not, I choose the closest size with no hesitation. This scenario happens to many people. When it comes to drinks, people usually do not pay attention to the prices than they do with food.

According to Consumer Psychology professor Kit Yarrow, people will choose larger sizes than necessary as they see the costs are too close. For instance, some may order a Venti instead of a Grande.

Image Credits:pixabay.com

Starbucks has employed many marketing strategies to make you spend more money. Awareness of these tricks is the first step to mindful spending!

Sources: 1, 2, & 3

Read More...

When Is It Acceptable To Splurge Your Money?

This may sound odd to you, but there are some instances where shelling out more will actually help your finances in the long run. You read that right! Just because you saw a glistening opportunity for you to save a few bucks, does not mean that you have to take it. You need to consider your priorities and financial goals as well.

EVENT 1: LANDING YOUR DREAM JOB

Congratulations on bagging a coveted job interview in the company of your dreams! The next step is to prepare for the “big day”. If you are aiming to convey your best image to your potential employer, it is alright to splurge on transport. You may be setting yourself into trouble just because you want to squeeze every cent you have on transport.

Let us face it! Bus delays and MRT breakdowns can happen when you least expect it. Furthermore, you are putting yourself at risk of being late as you are unfamiliar with the location. You do not want to arrive looking sweaty and stressed out due to your commuting woes. So, book yourself a comfortable ride through an Uber or a Grab app.

EVENT 2: BRAVING THE WEATHER

I cannot recall how many times I experienced the country’s dichotomous weather cycles. I found myself shielding from the sun’s rays and experiencing moderate rainfall in one day. Singapore’s weather is generally characterized by high humidity and abundant rainfall. In fact, thunderstorms graced the forecast for the next couple of weeks.

Brave the country’s weather by purchasing a sturdy umbrella from an established store. Cheap umbrellas from the street vendors or the bargain stalls tend to break easily. You see, your frequent S$14 purchases will add up eventually!

EVENT 3: GROWING YOUR WEALTH

It is best to seek professional guidance when you are planning to allocate your retirement savings on an investment portfolio. Yes! It may be cheaper to do things on your own or to do pitch in with a fund manager. However, you need to consider spending money on an Independent Asset Manager.

Most fund managers charge a commission of about 2% for supervising your wealth for you. If your entire portfolio is managed in this manner, you are paying commission for the total lifetime value of your assets. Imagine how much money that adds up to!

Image Credits: pixabay.com

Image Credits: pixabay.com

Taking the Independent Asset Manager route entails that you will only be paying for his or her hourly fees. You may be shocked to know that said consultation meeting can occur as little as twice a year.

Sources: 1 & 2

Read More...