In Spring 2012, Panera Bread Company aimed to expand its market presence in North America and improve the dining experience for customers. The company acknowledged the need to surpass competitors in order to succeed and sought to attract and retain customers by offering a superior alternative to other dining options. To accomplish this, Panera Bread adopted a strategy called Concept Essence.
To gain a competitive advantage, they aimed to provide a diverse selection of handcrafted artisan breads, bagels, and pastries at all their establishments. Furthermore, they aimed to create an appealing menu that would cater to customers throughout the day with reasonably priced but high-quality food. They also made efforts to deliver exceptional customer service in a friendly cafe setting.
Panera Bread is positioned favorably in the market as one of the leading fast casual rest
...aurants, thanks to its strengths, weaknesses, opportunities, and threats analysis. The company strategically places its stores in densely populated areas and provides a diverse range of food options throughout the day. However, having a limited dinner menu compared to lunch choices is considered a weakness. Nonetheless, Panera Bread has the opportunity to enhance its presence in the dinner category by offering improved options at competitive prices to compete with other fast casual dining establishments. Despite these efforts, Panera Bread faces competition from numerous other restaurants.
Panera Bread focuses on different aspects of its value chain, such as operations, inbound and outbound logistics, sales and marketing, and service. In terms of operations, Panera Bread carefully chooses locations for their establishments, customizes their menu to suit customer preferences, and offers franchising opportunities. Regarding logistics, Panera Bread maintain
a comprehensive bakery cafe supply chain that ensures the daily delivery of fresh dough for breads and bagels to both company-owned and franchised bakery-cafes. When it comes to sales and marketing efforts, Panera Bread relies on satisfied customers who share positive word-of-mouth about their exceptional dining experiences. They believe in letting the quality of their food speak for itself. Lastly, Panera Bread takes pride in providing excellent customer service.
The management of Panera Bread aims to provide efficient, responsive, and accommodating service while acknowledging the need to address marketing issues. It is vital for Panera Bread to consistently work towards maintaining a positive image in the market. To retain customer loyalty and attract new customers, Panera Bread should regularly introduce tempting new items on their menu. Additionally, considering the accomplishments in the United States, venturing into other countries presents great opportunities for success. However, careful planning is crucial when entering this unfamiliar market.
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