Starbucks sets its own course in pricing

New York

STARBUCKS isn't the place to go for cheap coffee. It is selling an experience, not a commodity.

That approach has been immensely successful, drawing in millions of customers and propelling Starbucks stock to stellar returns. But the company's strategy has created an odd situation this summer: It has raised retail prices for much of the coffee brewed in its stores just as coffee prices on world commodities markets have fallen.