Saturday, September 21, 2019
Target Market for Dunkin Donuts
Target Market for Dunkin Donuts Target Market: The target market for my Dunkin Donuts are teens and working class people within the middle age bracket who are always on a tight schedule running to catch the bus, train or even drive to work/school. The target market demographics is: Teens who are between the ages of 15-18 Young adults who are between 18-45 years old. BlogSpot (2015) describes the consumer behaviour of this category of people as one that is highly consumption-oriented. What this means is that my category of consumers are ones who expect that their product purchase offers them the expected satisfaction and they are willing to spend reasonable amount in getting them. Recent research shows that teenagers and young adults have become increasingly aware of new products and often times seek out new products and they are natural triers and spend hours shopping for themselves (Shand,2016). Therefore, with the introduction of our new beverage flavours and snacks line, my target market will be quiet content to spend money for beverage and snacks that gets them prepared for their daily tasks at a reasonable price. For example, Dunkin Large Chai Tea Latte is sold for $3.75 as against $4.84 sold by Starbucks. Consumer buying behavior is described as the sum total of consumer attitudes, preferences, intentions, and decisions regarding the consumers behavior in the marketplace when purchasing a product or service(Study.com 2016). They recently introduced a stronger brew of coffee for their customers that like very strong coffee flavor. What are external forces of consumer behaviour? External forces of consumer behavior identified are not individualistic but rather are forces outside of the consumer. They are capable of influencing buying patterns of individuals. What this means is that these forces are external to the consumer. For example, for my target market, some of the external forces to consider are: culture, reference group and social class (Chand 2016). Culture and consumer behaviour: culture as it relates to consumer behaviour refers to the basic attitude of people in a certain nationality where an individual live. The target market of Dunkin donuts are people who have a culture of drinking tea or coffee especially during the winter. To encourage consumers to stay warm especially during the winter season Dunkin has introduced a new menu which incorporates incredible espresso drinks that are low in calories as well as the introduction of a stronger brew of coffee customers that like very strong coffee flavor.Ã This new item suggestion which is our remarkable offering will incorporate our plate of mixed green vegetable menus. This green menu is also dunkinsway of promoting the culture of healthy living which has become prevalent among teens and young adults. Vegetables for the new plate of mixed greens menu will be sourced straightforwardly from the homestead in this way guaranteeing they are new and firm. Reference group/People: Reference groups is described by study.com (2016) as groups of people that influence individuals attitude or behaviour. Consumer behaviour is affected by reference group in the sense that consumers use reference points for learning attitudes, behaviour, and adapt these in their life. Reference groups influence product and brand purchases, particularly when the consumption is conspicuous in nature. Where a product is conspicuously consumed, the brand chosen may be influenced by what buyers perceive as acceptable to their reference groups. Take for instance Dunkin has a loyalty program popular among young people where customers purchase one of Dunkin gift cards and you receive perk points. The gift card is free there is no fee to join the program when you reach 200 points you can select a free beverage any size of your choosing. Dunkin has an app where you can also put the gift card on your phone so that you dont have to worry about losing the card. Through their app you can see all their special promotions, you can receive double points if you shop in their stores between specified hours or if you purchase a coffee with a bagel. You can also place you order through the app and pick it up so that you dont have to wait on line, you pay for your order through the app its that easy. Basically, this consumer behaviour can help Dunkin create a community of Dunkin consumers with non members eager to join and take advantage of the opportunities offered. Social class: Social class as an important determinant of consumer behaviour as it affects consumption patterns, lifestyle, media patterns, activities and interests of consumers refers to how income differences affects an individual consumer choices and behaviours. Although preferences regarding products vary between individuals Dunkin Donut will strive to make its beverages, snacks and vegetables the one of choice among its target market with emphasis on healthy eating choices which is evident in out green and vegetable menus. consumers purchasing is impacted by four noteworthy mental elements that are recognition, learning, inspiration and demeanors. My key products are: Vegetable menu, Strong coffee and espressos. We have a number of confectionaries that consumers can choose from. In promoting healthy eating choices, green and vegetable menus are being pushed to our target market. Positioning my Donkin Donut products will require an understanding of what consumers require in relation to product needs and satisfaction. Realizing what client needs are and what is expected to make enhanced and achievement items: Through research, as identified in my earlier work, we have recognized that consumers require choices in confectionaries and a collection of drinks when they stroll into any Dunkin Donut shop. Buyers additionally require an unwinding and agreeable feeling as they make the most of their dinner or lunch. For my target group, the above identified external influences will be considered using SWOT analysis to help position Dunkin as the confectionary and beverage shop of choice. SWOT analysis stands for Strength, weakness, opportunities and threat. This analysis will be used through the following: Strength:Ã The strength of Dunkin Donut lies in the culture and consumer behaviour of the target customers. New products will be introduced and developed to reflect our encouragement of healthy eating choices, roll out of new flavoured beverages and hot tea for our target market and seasons special beverages will be introduced. Through consumer research, Dunkin Donut can identify specific consumers who fall within our target market group and offer them specific products in line with the prevailing consumer need. Research questions will include consumers attitude towards new products. Once that has been established, Dunkin will work towards rolling out new confectionaries and beverages for our target market. Weakness: One identified external weakness of Dunkin Donut is its positioning in the minds of consumers. Donkin Donut is considered after Starbucks. We will therefore be using this social class identification to segment my target market. For example, Dunkin Donuts target client is who fall between the 18-45 age category earn between $30,000 to $70,000 yearly therefore, we will have added value services for consumers who can pay more. For example, a cup of Chai tea latte can come with added flavour or topping at extra cost for the consumer who can afford it. As such, Dunkin Donut will be positioned favourably in the minds of our target market. Social class for Dunkin Donut will simply reflect optional choices that will cost more only at the choice of the consumer. Opportunities: The opportunity that will be used to drive Dunkin Donut is its reference groups/people classification which will be used to position Dunkin Donut because we will aim to create a community of Dunkin Donut customers through the development of our app and rewards programmes. A platform will be created for consumers to share their experiences, favourite Dunkin confectionary or beverage with Dunkin representative monitoring interactions and offering freebies, birthday shout outs and get well messages as they are shared on the platform. Through this reference group creation, we plan to have ambassadors of Dunkin Donut just as BeyoncÃ © has the beehives. We can have a community of strong coffee lovers community. This group will cater for consumers who love the traditional coffee taste. Another external influence that will be used to position Dunkin Donut is the Threats which presents itself in form of health and safety department regulation and control of foods for consumption. Dunkin Donut will display its health department grade A classification on its window so that consumers are aware that Donkin Donut serves the best beverage. Another important threat is security, there is heightened tension in places where people are gathered, therefore, Dunkin Donut will have a good presence of security personnel to ensure the safety of every customer. In conclusion, the external factors identified for Donkin Donut can provide a platform for targeted consumer satisfaction which will provide Donkin an opportunity to deal with every client exceptionally because at the end of the day, we need every visit to the Dunkin Donut store to be a wow experience. References BlogSpot.com. 2016. Good study: Consumer behaviour of young people. Retrieved from: http://goodstudy110.blogspot.com/2010/10/consumer-behavior-of-young-people.html. 12 January 2017. Chan, S., February 2016. 3 External Factors that Influences Consumer Behavior. Retrieved from: http://www.yourarticlelibrary.com/consumers/3-external-factors-that-influences-consumer-behavior/12908/. 12 January 2017. Dunking donuts.2016. Dunkin donuts. [Online]. Retrieved from: https://www.dunkindonuts.com/dunkindonuts/en/coffee/didyouknow.html. December 9 2016. Strategy.com. August 2016. Effective Customer Needs Analysis: Focus on the jobs-to-be-done and see customer needs differently.