Write a white paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the selection process for that target market.
Starbucks is one of the main worldwide leaders of coffee industries which helped in bringing about fresh and new ranged products to the customers in a more convenient way. Starbucks is an iconic name in the coffee industry. Of late it has lost its market position to its competitors like Dunkin Donuts and Mc Donald’s Mc Cafes. The company plans to revive its position by implementing a suitable strategy to regain its lost market share. The main components of the strategy are to recapture the market share by becoming more efficient in its operations.
All the strengths of Starbucks came from internal origin and were made so that they can achieve its targets and objectives smoothly. Starbucks must use these powers and strengths so that they are able to overcome their draw backs and use their potential opportunities for maximum growth. Starbucks biggest strength is that they have huge experience in their field. Their competitors have never been able to copy their coffee style and their working atmosphere or culture (Cardenal , 2012). They provide high facilities to their customers like WI-FI, quick service etc which attracts a wide variety of customers towards them. Starbucks has wide product and offers huge brand services to their consumers by giving high quality coffee. This gave them an edge over other companies and builds a high reputation brand all over the world. Starbucks also maintained strength in their main store operations as they sell their products through high retail stores which help them build strong financial position for them. Starbucks is a leading brand in providing high quality coffee and unforgettable coffee experience called “Starbucks experience”. Fortune magazine has regarded Starbucks as the best employer as it creates respectable environment for its workforce.