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1) Select a company we have read about this semester -- Zoom (week 1),
SparkPlace (week 3), Box (week 5), Starbucks (week 6) -- and create a mini
marketing plan for them including sections on marketing strategy (chapter 1),
proposed marketing research (chapter 2), market segmentation (chapter 5),
brand strategy (chapter 6), and product strategy/plan (chapters 6-7). Responses
should be approximately 500 words.
The marketing strategy of Starbucks is based upon emphasizing upon customers who would willingly
buy its products at a reasonable price for the quality. The firms goal is to offer products to higher class
which permits customers to experience highly at Starbucks at the home comfort. Marketing should
display the convenience as well as the quality of the products by publications such as television ads,
print ads (newspapers), and social media. The firm feels like the most effective way of achieving these
objectives is to offer quality products and services exclusively to all loyal customers of Starbucks.
Developing a good marketing research plan takes a great deal of commitment. The first step in
marketing research is to define the challenge. What issue do we want to address? The issue here is how
to create more value to our customers in efforts to increase revenues around the world, not just the
United States. This could be done by handing out surveys each morning with coffees and giving
incentives for completing that survey. After you choose where to distribute the surveys and the best
market to distribute, it is time to review the data. While reviewing the data make sure to clean up the
low quality responses. Finally, a company must analyze the data and make a data driven marketing
decision. Starbucks can now proceed with a marketing campaign.
Starbucks uses demographic segmentation, which is marketing by age, gender, income, ethnic
background and family life cycle. It also uses geographic segmentation, which markets by region of a
country or the world, market size, market density, or climate. Starbucks’ main target is men and women
between the ages of 25-44, which accounts for almost half of its total business. They are also located
EVERYWHERE, specifically in upscale locations, near offices, and near many college campuses because
we all know how much these places need coffee to survive.
