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Marketing Strategy for Starbucks

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What marketing research approach would you use to develop a marketing strategy and tactics for this new product or service: Chocolate Caramel Machiatto (new starbucks coffee drink)

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Solution Summary

The solution discusses a marketing research approach that can be used to develop a marketing strategy and tactics for a new product which is Chocolate Caramel Machiatto (new Starbucks coffee drink). References included.

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Marketing research involves market segmentation which is the process of dividing a market into groups of consumers having common needs or characteristics. One or more of these segments are chosen to target with a certain marketing mix. Starbucks has chosen to focus on the segments psychographics, demographics and lifestyle of their customers. From the information gathered from these segments that Starbucks can develop the best marketing strategy and tactics to be able to market their new product, the Chocolate Caramel Machiatto.

Psychographics are ...

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