Starbucks: just who is the starbucks customer

Case Study – ” Starbucks: Just Who Is the Starbucks Customer”
1. With the evolution of fast food chains, Starbucks had to find a magic key that would open the doors of success for them in the coffee market. With a new team and with the desire to succeed, Starbucks did exactly what their CEO Schultz had dreamt of.
They captured the market with a simple and well rehearsed phenomenon and that was by capturing their customer. With the product in hand, they made their buyer realize the importance they have for them. The company gave them an impression that every customer matters to them and created a value for their targeted buyers. They divided their market into smaller groups with their distinct characteristics as per the requirements of the market behavior. By just maintaining a good buyer seller relationship, their workers just went an extra mile to facilitate their customer and that led to the capture of the coffee market for the Starbucks.
2. The reality of the matter is that Starbucks and the Starbucks experience changed simultaneously. With the emergence of hundreds of coffee chains of Starbucks and with an increase in the variety of eatables, the company lost its uniqueness in its coffee taste and in its way of handling customers.
Their buyers felt a considerable decrease in their importance, so in return they minimized their visits in the coffee shop. With their profits sinking, Starbucks became more of a take away cafe rather than dine in cafe and it was no more a ” third place” for the customers as visualized by its CEO.
3. Experiencing a downfall in the year 2008, Starbucks aimed to regain their old status. Again they applied the formula of customer attraction, but with a slightly different strategy. Instead of opening new stores in town and still in order to attract the coffee lovers, they reduced their product prices. (New York, 1997) They realized that simple marketing techniques like re-branding of goods and customer satisfaction can make the company reach the zenith. For that purpose they introduced new coffee products and worked on the development of these items specifically. This brought some stableness in their working nature and hence they worked on the technique of giving preference to quality over quantity.
4. Starbucks at some point of time will be able to enjoy the same status that they once held in the market. With the psychic of the customer well understood by the highly ranked people in the company and with the execution of this plan in progress at customer level, Starbucks is set to grow at a National and as well as International level.
With their grocery business ever expanding and with the improved quality of their specified products it won’t be incorrect to say that Starbucks is ready to break revenue and profit records in the years to come and that they will prove to be very strong for their competitors to surpass.
References
New York, NY: Hyperion, 1997.