Introduction
During the present-day new age of marketing, power has been continuously shifting to customers, particularly due to a massive increase in product selection. In this day and age, customers are considered to be the driving force behind the success of almost every company across the globe. However, there isn’t a better way through which a company can create a potentially large customer base than with the most appropriate marketing strategy that articulates the best social media trends (Hoffman & Bateson, 2009).
While this may seem somewhat obvious Geereddy (2014) asserts that every marketer must understand the overall business strategy so as to select the finest criteria for assessing the significance, usage, and more so the opportunities associated with certain social media trends. This paper critically analyzes Starbucks’ type of business, the target markets and the qualitative or …show more content…
Starbucks is also a public company listed on the New York Stock Exchange (NYSE), but its business is driven by the focus on the well-being of its employees, and hence the focus on the consumers.
Starbucks’ Target Markets
Currently, Starbucks commands about 33 percent of the United States’ coffee market, and this can be attributed to how the company caters to certain specific target market segments. Over the past few years, the company’s target markets have grown, and currently it comprises of the affluent and well educated customers, and the working professionals. Unlike in the past when Starbucks’ target markets mainly comprised of customers between the age of 25 and 44 years, currently it includes young, less-educated, as well as the low-income consumers, such as rural communities and ethnic neighborhoods (Starbucks, 2014);
Market Geography & Qualitative or Quantitative Characteristics that Define the
During the present-day new age of marketing, power has been continuously shifting to customers, particularly due to a massive increase in product selection. In this day and age, customers are considered to be the driving force behind the success of almost every company across the globe. However, there isn’t a better way through which a company can create a potentially large customer base than with the most appropriate marketing strategy that articulates the best social media trends (Hoffman & Bateson, 2009).
While this may seem somewhat obvious Geereddy (2014) asserts that every marketer must understand the overall business strategy so as to select the finest criteria for assessing the significance, usage, and more so the opportunities associated with certain social media trends. This paper critically analyzes Starbucks’ type of business, the target markets and the qualitative or …show more content…
Starbucks is also a public company listed on the New York Stock Exchange (NYSE), but its business is driven by the focus on the well-being of its employees, and hence the focus on the consumers.
Starbucks’ Target Markets
Currently, Starbucks commands about 33 percent of the United States’ coffee market, and this can be attributed to how the company caters to certain specific target market segments. Over the past few years, the company’s target markets have grown, and currently it comprises of the affluent and well educated customers, and the working professionals. Unlike in the past when Starbucks’ target markets mainly comprised of customers between the age of 25 and 44 years, currently it includes young, less-educated, as well as the low-income consumers, such as rural communities and ethnic neighborhoods (Starbucks, 2014);
Market Geography & Qualitative or Quantitative Characteristics that Define the