Research Paper- Prêt a Manger
Session Number: L01
Professor: Ying Zhao
CHAN, Justin (10491398)
BABANI, Monica (09472983)
POON, Ying Sin (20015398)
TSANG, Erica (20042743)
TSE, Jonathan (10069688)
YEN, Joseph (09471264)
Prêt-A-Manger (also known as Prêt) was founded in 1986, with the aim of serving customers with quality food and exquisiteness. It is a well-known grab-and-go store offering a variety of freshly-made food like sandwiches and salad. The target customers are expatriate workers and white collar adults in the central business districts, who are attentive to their diets. This is in accordance with its positioning that Prêt provides premium healthy and quality food which is freshly made every day. Prêt executes its good location strategy which makes it very successful in the food and beverages industry because it already has 323 stores worldwide, having £443 million turnover last year in UK. Although its turnover rate is high, it does not pay enough attention to new potential markets. Its target market is specific but is relatively narrow. Hence, it is recommended that in the short run, Prêt can attract more diversified groups of customers by reviewing the menu and in the long run, can consider doing sub-branding which the new outlets providing meals-to-tables services and a more relaxed setting. With the proposed recommendations, Prêt can expand its target markets into a broader segment which will help in increasing its sales.
Structure of the Report4
A little about Prêt4
Target Customers of Prêt in Hong Kong5
Needs of Target Customers5
Good Strategy: Location & Store layout7
Characteristics of the Site8
Characteristics of the trading area9
Bad Strategy: Narrow Target Market9
Structure of the Report
This report will first briefly introduce Prêt and its product offerings. We also look into the target market of Prêt, recognizing the needs of the target group and how it all fits with the positioning strategy. To analyze the company’s strategies in depth, we will do a SWOT analysis. One good and bad strategy used in the operation will also be discussed. Lastly, we will provide practical solutions and suggestions to help improve Prêt’s business model. A little about Prêt
Prêt A Manger is an internationally famous grab-and-go shop which offers sandwiches, filled baguettes, soup, juices, yoghurt, salad and desserts. It was founded by two university students of Polytechnic of Central London, Sinclair Beecham and Julian Metcalfe in 1986. The name ‘Prêt A Manger’ (ready to eat) was stemmed from the phrase ‘Prêt a porter’ which means ready-to-wear. By using the French name, the founders hoped to convey the idea of quality food and exquisiteness is being served to their customers. This was not the only French influence that has the founders inspired. They have also modeled their operation similar to the form of ‘traiteur’, which is a catering business that designed for take-out food.
Their sandwiches are considered ‘premium’, as their menu is made up of natural preservative-free ingredients to cater to customers looking for quality and health benefits. Therefore, Prêt stores are normally found near the train stations of affluent areas such as the central business districts where people can conveniently buy a healthy meal. These are places where there will be more of their target consumers. The company relies on its positive word-of-mouth. Thus, it does not have any advertisement or promotional activities that it carries out. Target Customers of Prêt in Hong Kong
In Hong Kong, Prêt targets business men and women who are health-conscious and are exposed to international working environments, namely Central, Admiralty and Causeway Bay. Most of them...