Starbucks' is a rapidly growing chain of premium coffee shops. Rising to national prominence in the 1990s, Starbucks' now dominates the market niche it occupies.
Starbucks' Target Market: Starbucks' target market is any person and any age. The store offers juices and cocoa for children, creamy blended drinks for those who don't particularly like coffee, and a number of different types of brewed coffee. Starbucks continues to refine and target their product offerings to the changing tastes of consumers. The stores now sell specialty breakfast foods such as scones and muffins as well as a variety of beverages and coffee. The chain's specialty flavors of coffee are popular among American consumers.
Psychographics: Changes in the social and economic structure of the country are resulting in hgiher levels of disposable income and a greater interest in Starbuck products and merchandise. At the same time, other coffee shops are trying to tap in on the fad created by Starbucks. There are many competitors trying to become successful selling franchises for competitors to Starbucks. Starbucks senior management realized some time ago that there was no real difference between the quality of their coffee to that sold in competitor companies. Instead, the ubiquitous cup of Starbucks' coffee is a prop for many people. It makes a statement about the amount of disposable income and individual may have.
Psychographic techniques are used by marketers seeking a better or more comprehensive understanding of the marketplace, and how to best market the company's products and services to the consumers that appear to represent the best and the most frequent selling opportunities. Even though a company such as Starbucks may have determined its target market and target market demographics, people within that group still have very different perceptions about the benefits or value of any product. They will be motivated by any number of reasons ...