Who Is Panera Bread?
Overview
Panera bread is a full service restaurant company founded by Louis Kane and Ron Shaich. In 1981 the duo started a company called Au Bon Pain Co, Inc which marked the beginning of their legacy. The company gained prominence in the late 1980’s and early 1990’s and then went on to acquire Saint Louis Bread Company, a restaurant chain with almost twenty locations in the St. Louis area (Panera Bread, 2014). Their acquisition of the Saint Louis Bread Company in 1993 made them a force to be reckoned with in the Bakery-Café sector of the food industry. The company sold for 73 million dollars in 1999 to ABP corporation after which they changed their name to Panera Bread (Panera Bread, 2014).They continued to expand through the late 1990’s buying …show more content…
The members of these segments range from individuals from middle to high incomes. Dyer (2008), defines affluent households as those with an income of US $75,000 or more. “Fast-Track Families,” the top segment for Panera Bread, are defined as affluent with an average income of $75, 814 (MyBestSegments, 2007). According to Yen (2013), the new rich “mass affluent” make up roughly 25 million U.S. households and account for nearly 40% of total U.S. consumer spending. The other two top segments acquired in the research by MyBestSegments (2007) are called “Home Owners” and “Young upper class” make an average income of $57,050. Of course, there are other segments that …show more content…
The company has set itself up to have a broad group of customers because they appeal to not only the health conscious customers but also to individuals that want a classy but family oriented brand. Darren Tristano, executive vice president of food-industry research firm Technomic says that, "Panera's on-trend with what consumers are asking for: fresh, customizable, convenient, won't break the bank" (Rockwood, 2009). This is a brand that came to the market in 1981 with the sole purpose of being a bread company but have adapted to the zeitgeist of the times to become a brand that serves not only delicious, healthy, wholesome, handcrafted breads, soups, salads, sandwiches, and baked goods but also a warm and inviting environment that their customers love and
Panera bread is a full service restaurant company founded by Louis Kane and Ron Shaich. In 1981 the duo started a company called Au Bon Pain Co, Inc which marked the beginning of their legacy. The company gained prominence in the late 1980’s and early 1990’s and then went on to acquire Saint Louis Bread Company, a restaurant chain with almost twenty locations in the St. Louis area (Panera Bread, 2014). Their acquisition of the Saint Louis Bread Company in 1993 made them a force to be reckoned with in the Bakery-Café sector of the food industry. The company sold for 73 million dollars in 1999 to ABP corporation after which they changed their name to Panera Bread (Panera Bread, 2014).They continued to expand through the late 1990’s buying …show more content…
The members of these segments range from individuals from middle to high incomes. Dyer (2008), defines affluent households as those with an income of US $75,000 or more. “Fast-Track Families,” the top segment for Panera Bread, are defined as affluent with an average income of $75, 814 (MyBestSegments, 2007). According to Yen (2013), the new rich “mass affluent” make up roughly 25 million U.S. households and account for nearly 40% of total U.S. consumer spending. The other two top segments acquired in the research by MyBestSegments (2007) are called “Home Owners” and “Young upper class” make an average income of $57,050. Of course, there are other segments that …show more content…
The company has set itself up to have a broad group of customers because they appeal to not only the health conscious customers but also to individuals that want a classy but family oriented brand. Darren Tristano, executive vice president of food-industry research firm Technomic says that, "Panera's on-trend with what consumers are asking for: fresh, customizable, convenient, won't break the bank" (Rockwood, 2009). This is a brand that came to the market in 1981 with the sole purpose of being a bread company but have adapted to the zeitgeist of the times to become a brand that serves not only delicious, healthy, wholesome, handcrafted breads, soups, salads, sandwiches, and baked goods but also a warm and inviting environment that their customers love and