Starbucks was founded in 1971 by Jerry Baldwin, Zev Siegl, and Gordon Bowker when they were all students at the University of San Francisco. Since then Starbucks has become a household name and has coffee shops on all corners of the planet. As of September 2020 Starbucks has 32,660 shops around the globe in 83 different countries. What makes Starbucks so unique is the quality of coffee and the innovation of new and exciting drinks.
A great market for Starbucks to enter would be the protein market. Offering protein infused coffee dinks would be a product that would add to the company’s profit margin. With so over 32,000 stores globally adding customers would flock to Starbucks after their workout for a protein infused pick-me-up. With their innovation and ability to come up with tasty and different combinations there are many choices when it comes to protein powders and how to infuse them with the beverages. Their order ahead app will also make it easier for customers to order ahead and pick up their beverage, and having this on the menu will allow Starbucks to tap into a different clientele, one that has a routine that they usually stay loyal to. The beauty of this product will also be that it is versatile, it does not need to be for gym rats only looking for a protein boost after a workout, it can be geared towards people looking for a healthy meal replacement that can keep them satisfied until dinner.
There are a few ways to do market research on this, first can be a simple poll of consumers that walk into the store. A survey will give insights to what consumers are looking for and if this product would fir their needs. Another way is by giving away free samples and having customers try the new product. This will create hype about the product and it will give Starbucks real time feedback about the potential popularity of the product. Starbucks biggest asset is their baristas, many of them have great rapport with the regular customers that visit the shops so asking their input could be invaluable.
Kostas Site 