Strategy For Conducting Market Research For Starbucks

1538 Words7 Pages
Individual Assignments – Unit 2 Module 4
Strategy for Conducting Market Research

Starbucks has a very strong brand presence globally and has positioned itself as a highly respected brand. This advantage can be exploited during their market research approaches when venturing into new international markets. Starbucks has finally entered the South African market opening its first store in Johannesburg in April 2016 (Starbucks Corporation, 2016). Considering the high consumer demand for US brands within the country this has been long awaited. South Africans love international brands and others such as Burger King, McDonalds, Dominos and Krispy Kreme are some of the other US companies and brands that seized the opportunity in the South African market.

Currently operating two stores in the country, their vision is to open up to “150 stores” (Trefis, 2016) and venture north into the African continent. In alignment with the Starbucks brand and considering the growth potential in the South African market, introducing a variety of soups and complimentary side items would be a logical fit to the current menu and a “brand extension” (Merz et.al, 2011) which would fulfill the demands and cravings of the South African palette. With
…show more content…
The feedback generated from these marketing research approaches will help understand buyer’s needs, demands and thought processes on the Starbucks brand and the new product implementation. It will further segment the market and identify which area of the segmentation provides favorable feedback towards the new product that Starbucks can effectively use in their marketing
Get Access