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Marketing Plan - Rainbow Toppings by Starbucks

Autor:   •  March 8, 2011  •  Essay  •  1,661 Words (7 Pages)  •  2,803 Views

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Starbucks is launching the new product, "Rainbow Toppings". An important factor regarding a new product is the identification of the segmentation criteria affecting the target market. Creating and analyzing the most accurate target market will increase the chances of success for a new product. The type of consumers ultimately purchasing the new product will be clearer and will be discussed more in detail. Factors and trends that will be a force in influencing these targeted consumer's decisions to purchase the new product is presented as well. The new "Rainbow Toppings" will have a limited amount of true competition from competitors. A comparison of the local competitor's breakfast menus reveals how "Rainbow Toppings" has a minimal amount of similarities within the range of competitors.

"Rainbow Toppings" introduces a new, fun experience for children to enjoy while parents are enjoying a delicious cup of coffee. According to According to New Report by Global Industry Analysts, Inc., the children's food market is expected to grow to nearly $90 billion in sales by the year 2015. A slight variance will be present due to a range of different factors and trends affecting the industry. "Rainbow Toppings" will contribute to the increase in the total sales within the children's food market.

Starbucks will use demographics and psychographics to target a specific Houston market concerning "Rainbow Toppings". Initially, surveys and taste tests experiments will be offered among ten highly populated targeted zip codes within Houston to measure and study the opinions of potential consumers. The ten zip codes are the focus of our targeted market for "Rainbow Toppings". The company is targeting consumers and organizational buyers within the top 10 zip codes, which covers statistical information. The segmentation criteria is population size, ethnicity, income level, age, and location. Exhibit 1 displays a breakdown of the differences in population, ethnicity, income, age, and location within Houston zip codes.

Through internet, direct mail, local advertising and word of mouth children will learn about "Rainbow Toppings". With effective marketing and advertisements, children cannot resist the urge to pester parents to purchase the toppings being offered at Starbucks. Children will feel a need for the toppings to experience a creative entertaining eating experience at Starbucks. Children will be tempted to ask parents for the toppings simply because of word of mouth from classmates or friends.

"Rainbow Toppings" promotions will advertise a social setting for children to be popular. Children desire to be popular in social settings among other children. According to Pytel (2007), children need to belong to a group where he or she can belong to socially. Additionally, children will enjoy the fruity taste, the bright colors,

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