Starbucks should conduct focus groups and distribute free samples to understand customer tastes in the new market and determine their target demographic. They should also study popular local brands to understand their strategies and what makes them appealing. When entering a new foreign market, it is important to understand competitors, pricing strategies, market trends, target customers, and advertise accordingly. Peer influence can affect coffee shop choices, such as preferring brands with better taste, seating, service, or locations frequented by friends.
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Starbucks should conduct focus groups and distribute free samples to understand customer tastes in the new market and determine their target demographic. They should also study popular local brands to understand their strategies and what makes them appealing. When entering a new foreign market, it is important to understand competitors, pricing strategies, market trends, target customers, and advertise accordingly. Peer influence can affect coffee shop choices, such as preferring brands with better taste, seating, service, or locations frequented by friends.
Starbucks should conduct focus groups and distribute free samples to understand customer tastes in the new market and determine their target demographic. They should also study popular local brands to understand their strategies and what makes them appealing. When entering a new foreign market, it is important to understand competitors, pricing strategies, market trends, target customers, and advertise accordingly. Peer influence can affect coffee shop choices, such as preferring brands with better taste, seating, service, or locations frequented by friends.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online from Scribd
Starbucks should conduct focus groups and distribute free samples to understand customer tastes in the new market and determine their target demographic. They should also study popular local brands to understand their strategies and what makes them appealing. When entering a new foreign market, it is important to understand competitors, pricing strategies, market trends, target customers, and advertise accordingly. Peer influence can affect coffee shop choices, such as preferring brands with better taste, seating, service, or locations frequented by friends.
Copyright:
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Methods that Starbucks could use to study buyer behaviour when entering a new foreign market. • They would want to know who their customers are, what they think about the brand and how they fell about it. • Since coffee is their main product they should understand what their target market is. Who can it be older, more affluent, well educated, office workers? Branch them according to age, income, educational level and tastes. • To conduct focus groups in the new market to gain better understanding of the customers and what their target market could be since it would differ from location wise. • They could provide free tasting samples to generate interest in customers and get feedback from them and understand what they would actually like and change their strategy accordingly. • Are their any loyal customers to your brand? • Is their any popular brand in the new market, they can try and study their strategy and understand what makes it so popular.
2. Aspects of buyer behaviour that you would seek to understand before
proceeding. • Know your competitors, why there are popular in the surrounding market. • Have pricing strategy according to the location of the coffee shop & customers. E.g. offices, shopping malls, high streets etc. • Distribute free samples and understand what your target market would be and what suites best to them. • What is the market trend in the new market? i.e knowing the culture & lifestyle of the customers, what they like to do, how do they enjoy their coffee. • Who your target customers would be and cater according to them. • Advertise accordingly.
3. Effects of peer group influence on the process of choosing between competing
coffee businesses. • Depending on which brand coffee tastes better customers might switch themselves from their original brand. • Better seating or comfort zone for individuals or groups in a particular coffee shop. • Attraction towards a certain brand because of the good service they provide. • Just go with the flow which means just do what others do like if my friend has an I pod then I should also have one. • Location i.e if it is situated on your way to work, home or in the park etc.
