Questions: Starbucks sees itself as a premium coffee brand based on an overall premium experience that takes coffee to the next level. The great customer experience is supported by a welcoming store environment created to drive fatigue away and give customers an appealing space to relax. This example shows that companies should adopt environmentally friendly policies companies must understand the competition companies must understand the needs and wants of their customers companies should understand consumer decision making

Starbucks sees itself as a premium coffee brand based on an overall premium experience that takes coffee to the next level. The great customer experience is supported by a welcoming store environment created to drive fatigue away and give customers an appealing space to relax. This example shows that companies should adopt environmentally friendly policies companies must understand the competition companies must understand the needs and wants of their customers companies should understand consumer decision making
Transcript text: Starbucks sees itself as a premium coffee brand based on an overall premium experience that takes coffee to the next level. The great customer experience is supported by a welcoming store environment created to drive fatigue away and give customers an appealing space to relax. This example shows that companies should adopt environmentally friendly policies companies must understand the competition companies must understand the needs and wants of their customers companies should understand consumer decision making
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Solution

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The answer is: companies must understand the needs and wants of their customers.

Explanation:

  • Companies should adopt environmentally friendly policies: While this is important for many businesses, the example focuses on customer experience and not environmental policies.

  • Companies must understand the competition: Understanding competition is crucial, but the example highlights creating a unique customer experience rather than focusing on competitors.

  • Companies must understand the needs and wants of their customers: This is correct. Starbucks focuses on providing a premium experience and a welcoming environment, which aligns with understanding and catering to customer desires for comfort and quality.

  • Companies should understand consumer decision making: While relevant, the example specifically emphasizes meeting customer needs and wants through the store environment and experience.

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