Many said that the promotional offering of other restaurants such as 4 courses for 2 people for $20 is a great tool that takes them to those restaurants time and time again. Coupons would help to create repeat business if in using the initial coupon the customer determines that even without the coupon the restaurant offers a good value for the money being spent. Developing a frequent diners program with a good reward is a great way to help create repeat business. If a customer were to purchase 5 entrees and would receive the 6th free a customer may be more enticed to return to the restaurant more frequently. Many people said that there are coupons that are not a good value and do not entice people to return.
Till the end of 2011, the Wowprime group has offered 170 restaurants under 10 different brands for customers in the different age groups, income, professional categories, and purpose of dining. Furthermore, with its success in Taiwan, Day decided to go internationally and tried to gain the main target customer group of the new coffee chain. Taiwan’s restaurant industry Taiwan, an island located in East Asia, has a small market size which limits the ability for a single product or service to achieve economies of scale. However, it is prosperous for retail businesses, especially restaurants because of its population density. The restaurant industry is divided into three broad categories: 1.
Executive Summary Starting with a little seed money from the owners, Sift Bakery was founded with the goal of providing a guilt free dessert that delivers an OMG factor to all their customers through superior customer service and trendy décor. With already acquired knowledge in the specialty baking market for California and increasing pressure from competition it is suggested that Sift implement a steady expansion strategy combining retail and baking stores to increase overall sales roughly 35% year over year and maintaining consistent operating expenses. Sift has remained strong in certain demographics to hold their position as a specialty bakery however, with the spawn of new social media and marketing platforms available, Sift is shifting its efforts to accommodate the increase in new marketing tactics and branding strategy. Considering the high level of competition in the Bay Area market, Sift has considered a few options to increase their footprint. As suggested, it is believed that implementing a targeted and focused expansion based on the current business model will accomplish the overall goal while managing the growth based on financial indicators and health of the business.
He brings up a lot of arguments and points in his book and one he uses is Logos to better his points. One specifically he uses is his point on how the fast food industry is the largest group by far that employs low wage workers. He says no skill required and I really like this “The annual turnover rate in the fast food industry is about 300 to 400 percent. The typical fast food worker quits or is fired every 3 to 4 months” (90). Schlosser betters his argument with the use of strong facts and gives the points strength.
The campus was bustling with students motivated to learn. Most of the students I was able to meet were international students like myself. This made me feel even more comfortable walking around the campus. One of my favorite things about Boston was the delicious seafood. If you made memorable impression on companies at the career fair, many of them would invite you out to dinner at some of the best restaurants.
All three retailers employ the same macro strategy of searching for the lowest prices to pass along to consumers. Because of this companies are constantly looking for subtle advantages over their competitors, looking to differentiate themselves through unique traits or product offerings that will appeal to consumers. Unique traits could include the famous Costco hot dog and drink combo that has sold for $1.50 for the past 27 years. This is especially important as switching costs for consumers to move from one club to another are relatively low, and wholesale clubs are clustered together in many areas throughout the country. All three companies have also begun operating websites, allowing them to expand their product offerings and allow customers to purchase their products from the convenience of their own homes.
In addition, Wendy’s targeted different continually growing segments of the hamburger market such as young adults and adults. Thomas’s initial goal was to build the first restaurant in Columbus where a customer would get a really good hamburger without waiting 30 minutes. Wendy’s set a dining room that is designed to seat 92 customers, and a pick-up window to serve drive-thru customers in every restaurant and expand the scale continuously. Because Wendy’s restaurants were generally located in urban or densely populated suburban areas, its drive-thru window brought great success by serving a large volume of customers. Unlike many other competitors, Wendy’s limited the number of menu items to four main products: hamburgers, chili, French fries, and Wendy’s Frosty Dairy Dessert.
Panera bread’s products have always been a cut above the competition. They offer a unique Artisan style of baking. They consider themselves a superior fast food restaurant with a strategy to provide high speciality bakery and café experience to customers. This strategy fits with a broad differentiation strategy that appeals a broad range of customers. Based on the case, the company had 910 locations in 2006 competing with the top restaurant chains in the USA such as Mc Donald’s and Starbucks.
This paper will explain some new ideas to help create more ways to improve profit while keeping the Costco low price standard and customer satisfaction. The reader will also learn new ideas in changing the two biggest complaints Costco currently has, which are long lines and too many items being sold in bulk. Three million customers walk through Costco doors every day all over the world and experience a retail store, unlike any other store they will encounter. Costco provides many different items for some of the lowest prices a shopper can find making Costco a leader in profits every year. With the way Costco has been able to convince customers to buy a membership to shop for bulk items is nothing short of genius.
Diet for one over the last few decades has changed dramatically as food has become more accessible and more affordable for the everyday consumer. In addition to the types of food that are available. Twenty years ago it was a custom to sit down at the dinner table as a family and eat a good healthy meal, today it is the exact opposite where people eat out at restaurants all the time and eat a lot of fast food. Which contributes to other factors such as calorie intake, fat intake, and other dietary factors that all contribute to childhood obesity. Because today’s society is so in love with “keeping up with the Joneses” so to speak everyone has to eat out at nice restaurants or feel that they need to take their kids to McDonalds for lunch.