The project consists of a small-scale market research study, completed in a number of stages:
(1)reviewing secondary data
(2)conducting a focus group
(3)preparing and administering the questionnaire
Marketing problems are as following:
(1) How to take advantage of the trend of health conscious? How should Starbucks launch new ¡§health¡¨ product and, especially, how should it be positioned?
(2) How to deliver consumer value and satisfaction? How to convert our existing consumers into heavy users?
(3) How to increase market share? How to attract new consumers?
Based on these marketing problem, we further have market decisions and research problems stated below:
(1) Decisions: Is there room in the market for a new health drink/food line?
Research Problem: Identify the points of difference and price that current Starbucks customers would be willing to pay for such a product.
(2) Decisions: Will a ¡¥health¡¦ line change the image or conflict with Starbucks¡¦ current brand image as a coffee retailer, distributor, etc?
Research Problem: Identify the best way to position the ¡¥health¡¦ line so that it does not hurt the Starbucks image and is seen as a +1 offering.
(3) Decisions: Are heavy users of Starbucks and non-coffee drinkers who are health-conscious and like the atmosphere in Starbucks¡¦ venues are the target group for this new product? If so, what are the demographics and psychographics of our target market? What are the benefits for which they seek?
Research Problem: Identify the best target segment and marketing strategy, such as pricing and packaging strategy, for gaining market share.
(4) Decisions: Who are Starbuck¡¦s existing customers? What are the reasons they patronize Starbucks? What benefits do they gain from using Starbucks products? How can this new line help to create additional traffic at Starbucks?
Research Problem: Identify methods that Starbucks can use to make its existing consumers satisfied even brand-loyal users.
(5) Decisions: Who is the customer of the future?
Research Problem: Identify ways to reach customers at an early age and make them return/loyal customers