Starbucks succeeded in part by providing social currency to customers through a sense of community and belonging. Social currency refers to how products help users feel like they belong to a group or make them seem significant. For example, choosing specific coffee drinks or using particular mobile phone brands provides a sense of social identity and status among peers. Marketers try to imbue their products with social currency by associating them with cool subcultures, exclusivity, or shared social experiences.

1. What is Social Currency?

2. Any coincidence Starbucks was born in Seattle ? (The US city with the highest inbound migration rate) City with the highest inbound migration in the US ? ? ? ? ? ? ? ? ?

3. = A lot of young people uprooted, looking for community? “ we are the social network” CEO Howard Schulz

4. Starbucks’ Success is based on 2 key benefits of Social Currency (1) How does this product help me belong ? (2) How does this product make me significant ? Friends The “Third Place” Community Coffee Lovers Shared Values $4 coffee? Skinny latte decaf whatever ~ 190,000 permutations Coffee Connoisseur Barista Service

5. There are many social tools out there ...but which HANDHELD BRAND is this? My parents definitely wouldn’t use [ this brand ], maybe that’s why we like it Me and my friends all use it. It’s like a ritual for us. Routine... We even make up our own games. I wouldn’t be seen with [ rival brand ] in my pocket. That’s for losers like the ones who need dad’s pocket money When I’m out it’s in my hand most of the time. Sometimes I can meet new people with it.

6. Did you guess it? My parents definitely wouldn’t use [this brand], maybe that’s why we like it Me and my friends all use it. It’s like a ritual for us. Routine... We make up our own games. I would be seen with [rival brand] in my pocket. That’s for losers like the ones who need dad’s pocket money When I’m out it’s in my hand most of the time. Sometimes I can meet new people with it.

7. Any coincidence that after decades of ineffective “health education” US teen smoking rates finally began to decline in 1999? ...the same year that youth mobile ownership began to take off

8. You see, youth don’t care if it’s technology, social media or a packet of cigarettes as long as it delivers SOCIAL CURRENCY

9. When I volunteer for Boost Mobile’s Rock Corps I am significant; I can tell my friends about it

10. When I attend Red Bull’s Music Academy I belong to a peer group of artists and creatives

11. When Apple creates a touch screen phone I have significance through something to show you

12. When Scion creates events on the West Coast, I can show off my tricked out auto

13. What is your product’s social currency ? ?

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