Starbucks' Target Market
A target market is a group of customers towards which a business has decided to aim its market efforts and ultimately its merchandise.
- Conduct web research to identify various groups of Starbucks consumers. Use the Target Market worksheet to organize your research.
Your group will now select a target segment to determine a product offering for Starbucks to introduce in the market. Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries who have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them. Consider demographic, geographic, and socioeconomic variables for the consumers you will be targeting. This chart provides a description of segmentation variables
1. Secondary Research - Your group should research industry trends to identify patterns and behaviors of beverage consumers.
- Mintel is a marketing research firm that conducts research on consumer trends. There are some downloadable reports at the bottom of the page and the website also has other free reports. Here is a sample article.
- Zagat provides ratings of restaurants by diners. You can search articles that summarize their research findings on consumer trends as well. Here is an article that discusses a recent survey.
- Other web research on coffee beverage consumers and trends.
2. Primary Research - Using the secondary research you gathered to examine the traits and behaviors of Starbucks consumers, your group will conduct a survey of at least 10 respondents in the segmented market you've chosen. Make sure your survey aims at identifying your target consumers' preferences. Hint: You may want to consider asking your respondents about specific products/flavors they enjoy. Use a free online survey creator, like SurveyMonkey.com, to design your survey. Here is a sample survey for a coffee habits questionnaire.
Click Presentation for the final step.