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  • Essay / Target Market Segments - 1243

    Target Market SegmentsThere are four different market segmentations that Starbucks coffee has targeted to establish its brand value in the industry. First of all, Starbucks coffee demographic segmentation targets men and women aged 25-40. (Huff Post, 2013) However, later the company decided to change its segmentation to target students as well. The geographic segmentation of Starbucks coffee aims to target individuals who frequent a shopping mall, hotel, restaurant or university. Starbucks coffee psychographic segmentation targets sophisticated individuals who believe in a healthy lifestyle. Finally, Starbucks coffee behavioral segmentation aims to target individuals who do not mind paying the extra price for higher quality products. Points of Differentiation What differentiates the Starbucks Coffee brand from other competitors such as McDonald McCafe and Tim Horton's Coffee is that they offer better quality products. . They also have higher prices that people don't want to pay because they know the coffee will be worth it. The Starbucks Coffee brand is also very environmentally friendly, which is also reflected in the meaning of its logo. (McGrath) The uniqueness of their product effectively communicates the Starbucks Coffee brand. PositioningStarbucks Coffee used unique product positioning as a strategy to represent its brand. Their strategy represented their product well by having the uniqueness of their coffee sourcing. They exported coffee beans from Ethiopia while their competitors McCafe and Tim Horton's Coffee only have lower quality regular coffee beans. This uniqueness has created a strong competitive advantage in the coffee retail market. Relevance There are many factors that ...... middle of paper ...... d Marketing Mix. Retrieved from Scribd: http://www.scribd.com/doc/25781010/Starbucks-Targetting-Positioning-and-Marketing-MixStarbucks Coffee Company. (2011). Starbucks company timeline. Retrieved from Starbucks: http://globalassets.starbucks.com/assets/0e40b1ea48b34b82ae0a987175f1df25.pdfStarbucks Corporation. (2014). Mission statement. Retrieved from Starbucks: http://www.starbucks.ca/about-us/company-information/mission-statementStarbucks Corportation. (2014). Our brands. Retrieved from Starbucks: http://www.starbucks.ca/careers/brandsTampon, V. (April 3, 2013). Brand Audit: 5 Things a Small Business Can Learn from Starbucks. Retrieved from Digital Philippines: http://digitalphilippines.net/brand-audit/Trendick, C. (September 20, 2011). Stakeholder analysis. Retrieved from SlideShare: http://www.slideshare.net/catjo1966/stakeholder-analysis-september-2011