The Targeting Strategy Being Used By Starbucks
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Each question should be attempted. Read instructions for each questions carefully.
Answers should include your justification for each point.
Starbucks Case
Starbucks opened in 1971. Back then, the company was a single store in Seattle’s historic Pike Place Market. The name Starbucks was inspired by Moby Dick, evoking the romance of the high seas and the seafaring tradition of the early coffee traders. In 1981, Howard Schultz (Starbucks chairman and former chief executive officer) first walked into a Starbucks store. From his first cup of coffee, Howard Schultz was drawn to Starbucks and joined a year later as director of retail operations and marketing. In 1983, Howard traveled to Italy and became captivated with Italian coffee bars and the romance of the coffee experience. He had a vision to bring the Italian coffeehouse tradition back to the United States. Schultz wanted Starbucks to be a place for conversation and a sense of community, a third place between work and home. In 1984, Schultz convinced the founders of Starbucks to test the Italian coffeehouse concept in downtown Seattle, where the first Starbucks Caffè Latte is served. This successful experiment is the genesis for a company that Schultz founds in 1985. Schultz left Starbucks for a short period of time to start his own coffee company (Il Giornale coffeehouses) and returned in August 1987 to purchase Starbucks with the help of local investors and changes its name to Starbucks Corporation. The company now starts to expand its operations across the US and into other countries such as Canada. Starbucks went public on June 26, 1992 at a price of $17 per share and closed trading that first day at $21.50 per share. Starbucks Corporation’s common stock is listed on NASDAQ, under the trading symbol SBUX. From this point, Starbucks continues to expand its number of locations.
Starbucks offers a range of products that customers can enjoy in stores, at home, and on the go. Starbucks’ goal is for all of their coffee to be grown under the highest standards of quality, using ethical sourcing practices. All Starbucks products can be personalized to meet the individual needs and tastes of each customer. Starbucks coffee buyers personally travel to coffee farms in Latin America, Africa and Asia to select high quality beans for the following products:
Coffee: More than 30 blends and single-origin premium coffees.
Handcrafted Beverages: Fresh-brewed coffee, hot and iced espresso beverages, Iced Coffee, Cold Brew, Nitro, Frappuccino® coffee and non-coffee blended beverages, Starbucks Refreshers® beverages, and Teavana® teas.
Merchandise: Coffee- and tea-brewing equipment, mugs and accessories, packaged goods, books and gifts.
Fresh Food: Baked pastries, cold and hot sandwiches, salads, salad and grain bowls, oatmeal, yogurt parfaits and fruit cups.
Consumer products available where groceries are sold
Coffee and Tea: Whole bean and ground coffee (Starbucks and Seattle’s Best Coffee brands), Starbucks VIA® Instant, Starbucks espresso capsules available on the Nespresso and Nescafé Dolce Gusto systems, Starbucks® Coffee K-Cup® pods, Starbucks® and Teavana® Verismo® pods.
Ready-to-Drink (RTD): Starbucks® bottled Frappuccino® coffee drinks, Starbucks Iced Latte, Single Serve Cold Brew, Doubleshot® Coffee Smoothies, Teavana Craft Iced Teas, Teavana Sparkling Craft Iced Teas, Starbucks Discoveries® chilled cup coffees, Starbucks Discoveries Iced Café Favorites®, Starbucks Iced Coffee, Starbucks Doubleshot® espresso drinks, Starbucks Doubleshot® Energy Coffee drinks; Starbucks Refreshers® beverages, Evolution Fresh
bottled juices.
It’s not unusual to see people coming to Starbucks to chat, meet up or even work. Starbucks have become a neighborhood gathering place, a part of the daily routine. Starbucks connects with millions of customers every day with more than 30,000 retail stores in 80 markets. In 2017, Starbucks announced that Kevin Johnson would replace Howard Schultz as CEO. Schultz is widely regarded as one of the top CEOs of his generation. He won many awards during his time in charge including Fortune magazine’s Business Person of the Year. Starbucks currently employs more than 300,000 men and women who proudly wear their green apron. Today, Starbucks has a market value of over $81 billion.
Questions
- Customers in over 80 markets choose to buy Starbucks every day.
- Explain the level of involvement in the decision to buy Starbucks (2 marks)
- Evaluate the typical customer decision making process for a customer choosing to buy Starbucks (5 marks)
- Discuss how Starbucks marketing team can influence this process? (3 marks)
- Explain which decision making role is regarded as the most important in this decision? (2 marks)
- What targeting strategy is being used by Starbucks? (5 marks)
- Using the criteria for successful segmentation, assess how well Starbucks have created their market segments (5 marks)
- Starbucks has created a very strong brand position since 1971.
- Which type of value is Starbucks brand image based on? (3 marks)
- Discuss the key criteria for Starbucks successful positioning (5 marks)
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