Midterm: Well Known Product 4

Consumers:

Starbucks is another very big brand all over the world. They reach out to many different age group of consumers whether they’re young, old or not even a daily coffee drinker. Starbucks’ primary target market is men and women aged 25 to 40 because of their hip, contemporary design and decor. Young adults, aged 18 to 24, because it’s a place where college students can hang out, study and meet people. Kids and teens also because when their parents go, they usually will buy their kid decaffeinated drinks, snacks and pastries. “We make sure everything we do honors that connection – from our commitment to the highest quality coffee in the world, to the way we engage with our customers and communities to do business responsibly.” (http://www.starbucks.com/)

Competitors:

Starbucks competitors are Coffee Bean & Tea Leaf, 7-Eleven, Dunkin Donuts, BIGGBY Coffee, Caribou Coffee, McDonald’s, Panera Bread and Einstein Bagels. They’re price ranges are very similar and they serve almost the same types of products and pastries.

In the Market:

“Every day, we go to work hoping to do two things: share great coffee with our friends and help make the world a little better. It was true when the first Starbucks opened in 1971, and it’s just as true today.” (http://www.starbucks.com/) By hearing the name Starbucks or seeing the logo, everyone will know what company you’re talking about. It is such a huge brand that you can find them almost anywhere; in the mall, at the airport, in grocery stores, on the corner, right across from each other and so on. They are also very convenient with having a drive-thru where you can now see the worker that’s talking to you. (On the right is a picture of the Starbucks here in Las Vegas ) “Today, with more than 15,000 stores in 50 countries, Starbucks is the premier roaster and retailer of specialty coffee in the world. And with every cup, we strive to bring both our heritage and an exceptional experience to life.” (http://www.starbucks.com/) Starbucks sell’s products such as: coffee, handcrafted beverages, merchandise, fresh food, coffee and tea, read-to-drink and ice cream.

Cultivating the Community:

Starbucks gives back to the community and environment every possible way they can. “When it comes to the neighborhoods, cities and countries where we operate, Starbucks is committed to the helping communities thrive.” (http://www.starbucks.com/) They do community service, create jobs for USA, help community stores and help young people. For the environment, they recycle and reduce waste, energy, water, green building and climate change. “We are committed to minimizing our environmental footprint and inspiring others to do the same.” (http://www.starbucks.com/)

“So ever since we opened our first store in 1971, we dedicated ourselves to striking a balance between profitability and social conscience. We continue to believe that the ultimate way to scale the power of brand is to share the good we do so that Starbucks and everyone we touch – can endure and thrive.” (http://www.starbucks.com/)