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Essay / Panera Bread Company Marketing Strategy - 886
As mentioned in the case study, Panera Bread Company is known for being one of the leading bakeries/cafes offering freshly baked pastries and inspirational dishes French in various states of the United States. . However, in recent years, Panera Bread has faced a decline from its usual high growth rate, falling from 9.1% and 12.0% in 2000, respectively, to just 0.2% and 0.5% of comparable sales. and annualized unit volumes. strategies to maintain the company's high growth rate. However, it will not be long before these strategies reach their capacity to ensure growth. According to this case also, what seems to be missing in the strategies previously used by the company is marketing, cost control and customer loyalty. MarketingPanera Bread Company's marketing strategy relies heavily on the dining experience of each customer. at the cafe. The company focuses its efforts on providing a milieu of elements that would appeal to the different senses of a customer. Their cafes have been designed so that each customer can immerse themselves in an unforgettable experience and, in doing so, be able to promote it to other people through word of mouth. Apart from this, the company recognizes the importance of sponsoring charitable events to create an image for them. By being visible at these events, the company leveraged not only the quality of food and service it serves, but also its sense of social responsibility, leading to more footfall and customer loyalty . However, like any other marketing strategy, these become ineffective as time passes. For this reason, it is necessary to explore new strategies that the company has not yet exploited. One of them is to get an ambassador...... middle of paper ......previously used. This can become problematic since the strategy is not really different. O'Neill also mentioned the use of franchising to increase the company's reach. In my opinion, this strategy can be very effective in reaching a new market without spending too much. By allowing franchises, the company is able to cater to a wider market, ensuring its long-term growth. In conclusion, Panera Bread's problem regarding declining growth rate can still be solved if the proper strategies are used. to address the root of the problem. Arguably, for Panera, propelling growth relies on the company's ability and openness to explore strategies to which it is not accustomed.BibliographyO'Neill, C., Kouki, Y., Kirby, D. and Titus, C. (2011). Panera Bread Company. Boston: Salem State University.