The size of the Chinese beverage market has led multinationals to consider China as an essential market in their strategies. Profits and rewards in the beverage industry are very high. The beverage market in China is expected to become the biggest worldwide this year according to the Jihong He, Chairman of the Association for China Food Circulation. The potential growth of the beverage industry in China is, as a result, amongst the highest worldwide.
Brand positioning questions and feedback from senior executives set the tone and direction for brand development work over the course of the next two years. This was also the critical time when we established a brand blueprint for growth with integrity to a set of core values.
From this experience I learned five things that helped shift Starbucks onto a more soulful and iconic brand development path. Build A Common Brand Vision. When I arrived at Starbucks headquarters in Seattle there were many internal voices telling Howard what he should do to grow.
Many of these ideas could have generated additional sales but would not be polishing the brand image in the process or strengthening the internal culture of the brand. Most Starbucks executives came out of the packaged goods or quick service restaurant industry and they brought with them the values, goals and methods of operating common to those industries.
Yet, Howard was concerned that if Starbucks imitated McDonalds or any other QSR or packaged goods brand it may never achieve its growth potential. High quality specialty coffee Howard knew has a rich, colorful and soulful past. Howard had experienced the Italian love affair with espresso, lattes and strong coffee of all kinds and knew that the role it could play in America was different from the role that a fast food burger joint played.
Specialty coffee had a different kind of energy, charm, taste, style and sociability. I was recruited away from Nike more on that experience here to help shed some light on this for brand planning purposes.
I was initially asked to study the global history of coffee and glean what insights I could about the values that Starbucks needed to hold onto as it grew.
It was Scott Bedbury who called for the building of a common vision for what the Starbucks brand could become.
Scott convinced Howard to hire me as a means to conduct a comprehensive and far ranging strategic brand positioning study to tease out the important elements, the leverage points that Starbucks executives in all divisions needed to agree on to build the brand with integrity to a set of core values that served a core brand purpose.
Set A Course For Insights: On my first day on the job, Scott told me he wanted me to read everything there was to read about the origins and history of coffee, and about Starbucks brand history and to get an accurate fix on its current position in the marketplace, and to let him know where the gaps were for the brand and for the category as a whole if it were to achieve its growth potential.
Scott and I both knew that if you want to change the world, you have to start with an ideal. In addition to studying the historical context, language and imagery of the category I put together depth workshops across the US to help Starbucks locate its current brand position in different product and service categories.
On top of that I commissioned a large-scale segmentation study to understand the benefits sought most in the category related to all coffee brands, packaged coffee products and quick service restaurant experiences. Putting together a customized, multi-layered learning approach develops multi-dimensional intimacy with both the category and with consumers.
It helps you sift for insights like gold miners would pan for gold. Not all insights are created equal. Some provide greater leverage to help you move your brand and product narrative forward.
Brand backstory research like this also allows a planning team to tease out the culture and values of the entire category, and then compare your brand to ideals, competitor positions and unmet consumer needs. Capture The Shared Romantic Ideal: Dream catching was one particularly powerful research tool used in the big dig.
It entails delving into the power of a dream state as a means of conceiving and designing ideal experiences.Within Starbucks' target audience, they tend to advertise separately to professionals who are 25 to 40 years of age and to young adults and college students who are 18 to 24 years old, according to Huffington Post.
Overall, Starbucks' target audience is largely well-educated, upper middle-class. Starbucks Market Segmentation and Positioning Starbucks Market Segmentation and Positioning Introduction Starbucks was opened in in Seattle. Starbucks segmentation, targeting and positioning comprise marketing decisions directed at identifying appropriate group of people among the general public as future customers for the business and targeting this segment via positioning products and services that resonates well with their needs and wants.
Segmentation Task: Starbucks Coffee Company Based on market and behavioral research, a typical Starbucks customer is a female, 45yearold college professor of English and Urban Studies.
This data analysis allows for a careful segmentation of Starbucks’ target market. Starbucks Corporations is a coffee company founded in the USA in the year and operates worldwide.
As at , Starbucks was operating in more than 23, locations worldwide with an average of , alphabetnyc.com assets stood at $ billion dollars with a net operating income of $ billion dollars. Wall Street Journal New York; page 1 "SIGMA predicted - correctly it turned out - a significant expansion in the luxury market".