Panera Bread Industry Analysis
Panera Bread Industry Analysis
By: Heather Fancher
Industry Analysis
Industry Description
Nature of Products and Services: The nature of the products and services provided in the restaurant industry are based on customer satisfaction with the food and services that each location provides. Providing a selection of delicious and well-presented food made with quality ingredients that are simple and good tasting is exactly what the customer wants. Most customers go to restaurants to meet with others socially in a friendly environment. Making sure the restaurant is clean, attractive, and the décor is consistent with the food and restaurant’s image and making sure the waiting staff knows that it is ok to allow customers to linger adds to the customer’s satisfaction in a restaurant. The restaurant industry is highly competitive in terms of price, service, location, and food quality and is often affected by changes in consumer trends, economic conditions, demographics, and the concerns about the nutritional content of the food.
Customers and Channels of Distribution:
Different customers go to restaurants and buy the products for different reasons. Individuals go to eat and meet socially with other people or just to feed themselves. Businesses choose restaurants based on the atmosphere and product depending on if they require catering for a business meeting or a location they can go and have a business friendly meal. Getting the product to the customer requires a few different tactics. Good press is always a good source to bring customers into the restaurant. Helping the community, making creative changes, and thinking outside of the box are excellent good press. Another way is to create a website that allows customers to find information on your restaurant. Allowing access to the menu online can help customers see their food choices and make a decision to visit the restaurant as well as contact information for customers with questions. Another option is to
By: Heather Fancher
Industry Analysis
Industry Description
Nature of Products and Services: The nature of the products and services provided in the restaurant industry are based on customer satisfaction with the food and services that each location provides. Providing a selection of delicious and well-presented food made with quality ingredients that are simple and good tasting is exactly what the customer wants. Most customers go to restaurants to meet with others socially in a friendly environment. Making sure the restaurant is clean, attractive, and the décor is consistent with the food and restaurant’s image and making sure the waiting staff knows that it is ok to allow customers to linger adds to the customer’s satisfaction in a restaurant. The restaurant industry is highly competitive in terms of price, service, location, and food quality and is often affected by changes in consumer trends, economic conditions, demographics, and the concerns about the nutritional content of the food.
Customers and Channels of Distribution:
Different customers go to restaurants and buy the products for different reasons. Individuals go to eat and meet socially with other people or just to feed themselves. Businesses choose restaurants based on the atmosphere and product depending on if they require catering for a business meeting or a location they can go and have a business friendly meal. Getting the product to the customer requires a few different tactics. Good press is always a good source to bring customers into the restaurant. Helping the community, making creative changes, and thinking outside of the box are excellent good press. Another way is to create a website that allows customers to find information on your restaurant. Allowing access to the menu online can help customers see their food choices and make a decision to visit the restaurant as well as contact information for customers with questions. Another option is to
References: 1. Gamble, Thompson, & Peteraf. (2013).Case 8: Panera Bread Company in 2011-Pursuing Growth in a Difficult Economy. Essentials of Strategic Management: The Quest for Competitive Advantage. 3rd edition. New York: McGraw-Hill/Irwin. 2. Industry Center. “Restaurants”. Retrieved February 17, 2013. www.biz.yahoo.com 3 4. Mary Ellen Biery. “Restaurant Industry Trends are Upbeat.” August 23, 2012. Retrieved February 17, 2013. www.sageworksinc.com 5 6. Competition in the Restaurant Industry. Retrieved February 17, 2013. www.wikinvest.com 7 8. Helen Akers, Demand Media. “Major Segments of the Restaurant Industry.” Retrieved February 17, 2013. http://smallbusiness.chron.com 9 10. Dave Samuels. “Key success Factors for Restaurants.” Retrieved February 16, 2013. http://yourbusinessazcentral.com 11