DQ 2 : "Panera Bread" Please respond to the following: Evaluate Panera Bread’s strategy and its effectiveness with executing the strategy within the competitive fast-casual restaurant marketplace. Discuss the pitfalls to this strategy and the potential impact to the performance of Panera Bread. Select one of Panera Bread’s competitors and discuss a disadvantage that Panera has with the competitor and how this disadvantage may be overcome. Week
Running Head: MARKETING Marketing Raven Harvis University of Phoenix MM/PBL502 November 28, 2011 Abstract Kudler Fine Foods is interested in expanding its service offerings to add a catering service in addition to the in-store parties that it currently offers. This paper will discuss eight areas related to this decision. First it will assess the relative value of the three pieces of market research. Second it will explain the components of the marketing mix of Kudler’s new catering service. Third it will explain how Kudler Fine Foods should determine the products it wants tooffer.
The next step for Kudler is to identify place. The term place is defined as “the means by which your customer acquires your product” (Marketing for Profits, Ltd., 2004). In the case of Kudler, the place would depend on how it sells its product. Kudler has many choices which range from using the internet, taking orders over the phone or in person (direct sale). The internet – Kudler may add to its website a link to view its catering service, which includes a list of products and prices.
Entrepreneurs work on their business rather than in their business (McGuckin, 2005). Kathy needs to be an entrepreneur and lead the business rather than operate in it. Stakeholder Perspectives Kudler Fine Foods has many stakeholder interests and values to consider in any changes that are implemented in order to remain successful. These different stakeholders include customers, employees, vendors and Kathy Kudler and are outlined in Table 2. Kathy would like to build the company up to a point so that in the next few years she’s able to retire (Kudler strategic plan, 2003).
(Strengths, Weakness, Opportunities, Threat) analysis, it does cite the potential threat of a gourmet shop opening in their geographic market. 2. Threat of substitutes: Are there alternative products that customers can purchase over Kudler Fine Foods products that offer the same benefit for the same or less price? In the unlikely event of a downturn in the economy and a decrease in the disposable income of its customers, customers may shift their purchases of gourmet foods to a suitable replacement such as purchasing items at a grocery
We have asked a question, received an answer, now we must implement the answer. The implementation of the answer and ensuing results will tell us if we asked the proper question. Understanding the marketing component “place” within catering services? Outlined in the aforementioned sections of the paper place identifies the location where a product is available for purchased or where services are performed. Place is also referred to as the distribution channel.
13. TCO 7. How is the wellness trend evolving truth-in-menu ethics in the restaurant industry? Also, explain how the same trend is evolving menu planning for people with heart conditions and for those who prefer alternative diets such as vegetarianism? Describe one specialty entree for a customer on a special diet (you may select the diet preference such as low salt, high carb, or low fat).
6). Consumer behavior can give some insight to the way a consumer makes a decision about a particular product or service. The thought process behind a visit to a certain store or a website is also a part of consumer behavior. Organizations want and need to know about how a person decides to use certain services or products. The same organizations must know what thoughts or feelings keep customers away.
The paper hypothesises that using imagineering in restaurants dramatically changes the balance of key operational principles for any type of restaurant and subsequently alters how the meal experience should be viewed. Key Words: Restaurant; Imagineering; Meal experience INTRODUCTION The perishability, intangibility, heterogeneity and inseparability (Zeithaml et al 1990) of the restaurant product and service make the meal experience unique to each and every customer. These characteristics make it very hard to quantify the concept of the meal experience from an operational or a customer satisfaction point of view. On the one hand researchers have attempted to break down the meal experience in order to measure customer satisfaction. For example Noone et al (2007) attempt an analysis through a three stage process breaking down the meal experience in order to analyse customer satisfaction.
(Doughton, 2002). However, to my best knowledge, nobody has studied the relationship between colour and appetite. Will colour affect appetite? What colour will strengthen or weaken the desire for food? In order to answer these questions, an experimental design is set up to investigate how various colour of wall finishes in restaurants will affect customers’ appetite.