Strenghs revenue is consistent from year to year

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STRENGHSRevenue is consistent from year to yearBrand/logo is very known and popularWEAKNESSESPrices are high for specialty drinksand foodGlobally the culture and lifestyleare different therefore noteveryone’s likes coffee. OPPORTUNITIESExpanding merchandise globally into other storesExpanding globally THREATSCompetition like Coffee Bean, Dunkin Donuts, and McDonald’s SWOT ANALYSISDIAGRAM
Understanding Target Markets5group between 25 to 40 years old (Gen Y), and the upper-middle income group for premium Starbucks experience.Target Market Section: Geographic AnalysisStarbucks is also target marketing their products overseas. For example, in the fiscal year 2016, Starbucks’ total revenue for China and Asia Pacific was $2.64 billion, up 23% from the previous year. Today, the company operates 2,500 stores in China and plans to expand its customer base by doubling their operations in China in the next five years (Starbucks, 2017).Target Market Section: Psychographics AnalysisAccording to Kotler and Keller (2016), the psychographic analysis is the use of psychology and demographics to understand the target market for the specific product. Consumers are segmented into activities, interests, lifestyle or values, and the same demographicgroup can reveal differences in the psychographic profiles. Starbucks continues to elevate the corporate brand as a store that offers premium coffee and beverages by developing plans to open increase number of high-end stores and bars such as the Roastery and Starbucks Reserve, targeting affluent consumers such as young single adults and married couples with relatively high discretionary income. Target Market Section: InsightsThe Starbucks 2016 Annual Report (2017) identifies that the company’s target market for the demographics and the psychographics are the young, active Gen Y segment which is in the upper-middle class and has discretionary income. Starbucks will continue to target this market

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