Marketing Plan Segmentation

Abstract

Starbucks’s provides the coffee industry with products through its specialty shops. The market is very competitive with their direct competition of Dunkin Donuts, and soft drinks among others. For Starbuck’s to remain successful, they need to continue to be creative. A clear marketing plan statement is an important part of ensuring that the organization understands where it’s headed. In addition, position statement provides the management team with a framework to carry out the statement. It includes market basics, pricing, distribution, and promotions. Through the development of a strong marketing plan statement, Starbuck’s is best positioned to succeed.

Marketing Plan Strategy Statement

The coffee industry is a highly competitive industry. There are many avenues consumers can get coffee. Starbuck’s is an industry leader in the specialty coffee shops arena. Competition comes from Dunkin Donuts, McDonalds, and other beverages (Hoovers, 2015). It is necessary for Starbucks to distinguish themselves from the competition. This will be accomplished through enriching the product offering at Starbucks. In this case, Starbucks will enrich its offering through the addition of more breakfast food offerings. The offering will provide enhance features and quality to the marketplace. Also, the offering should strengthen the target markets.

Target Market

• Starbucks will focus on a target market of higher income professionals and families looking for healthier menu choices.

Position

• The position desired maintains a focus on the higher income professionals and families, providing a youth friendly, healthy alternative product line.

• A healthy alternative product line can be taken on the go for fast paced time-constrained professionals including those with children, adding ethical product convenience and a nutritional peace of mind.

• Starbucks Mission: Our mission: to inspire and nurture the human-spirit one person, one cup and one neighborhood at a time (Starbucks Company Profile, January 2015).

• “For each needs-based segment, determine which demographics, lifestyles, and usage behaviors make the segment distinct and identifiable (actionable)” (Kotler, & Keller, 2012, pg. 231).

Market Research

• Increase expenditures by 15% to increase knowledge of consumer preference.

• Utilize research to determine the market needs and characteristics of healthier product choices.

• Determine product distinctions and differentiation between current similarities on the market for on-the-go breakfast/lunch packs.

• Determine