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Answer :
The price of coffee at Starbucks is influenced by the quality of the coffee beans, the brand's premium image, the location of the store, and market demand. These factors combine to determine the final price of Starbucks's various coffee offerings, which reflects both the cost to produce and serve the coffee and perceived consumer value.Therefore,correct option are 2) Location of the Starbucks store,3) Quality of the coffee beans.
The main factor that determines the price of coffee at Starbucks is not solely the type of coffee, the location of the Starbucks store, the quality of the coffee beans, or the brand value of Starbucks; rather, it's a combination of all these factors. The quality of the coffee beans is a significant element as it affects the taste and the overall customer experience. Starbucks, known for its premium coffee offerings, often charges higher prices for its higher-quality blends. The brand value also plays a crucial role, as Starbucks has successfully marketed itself as a provider of premium coffee experiences, which allows it to command higher prices. The location of a store can influence operating costs, and consequently, the prices charged due to factors such as rent and local competition, which can vary from one place to another. Additionally, as the consumer preference for coffee and related products has evolved, especially with Starbucks 'turning people on' to higher-quality coffees, the company can leverage this to set prices according to market demand and perceived value.
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