Notes to Management
The first thing to note is that the overall goal to be a successful chain and to be able to provide a wide market of goods was a good goal. The one thing that could better serve this goal is to continue to increase the dinner menu. There are many options that could involve breads and bread products as that was the basis of the company, however there needs to be a more traditional dinner menu in order to create more business in dinner time diners.
Overall, if more dinner menu options were added the idea to have Panera Bread as a dinner restaurant would be successful and would take off to where more people would be interested in coming during dinner time. This does not mean that there has to be an option for a five course but still providing simple yet more dinner choices could be a good choice in improving menu options and capabilities. A good way to do this could be through some signature pasta dishes or something else that would take little effort but would make vast improvements in the idea of dinner dining with Panera Bread.
Another problem that could be easily solved is the cost
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The idea of spending more money out of the budget on advertising would cut into profits and would probably not really earn much more business and Panera has a loyal customer base who will continue eating at Panera and they will also continue to suggest Panera to their friends and family as a dining selection while choosing restaurants to eat out at. Panera for dinner was a great initiative and a great marketing strategy. Some of the other marketing strategies were not the level of expertise that I would have expected from a company that was as profitable as Panera Bread.
The issues for me have been that it is not as good of a strategy to simply raise awareness of eating at Panera Bread during multiple meal times when there are already multiple meal times being served. I feel a better strategy in this area would have been to put the money that was spent on marketing into customer loyalty research and research that would allow Panera Bread to know what their customers are wanting in order to begin dining at Panera Bread as a regular dinner dining spot. Panera Bread also could have come up with a better slogan.
Honestly even though I am a regular Panera Bread customer, I did not know that the theme was “Food you can crave, Food you can trust. ” A better slogan could have incorporated the fact that the baked goods are prepared traditional ways or that natural ingredients are used as consumers are really looking for more natural food choices as well as foods that are prepared in better and more healthy ways. The idea of only allowing a franchisee to open a set number of franchises was a good idea in some ways but in others this limits the locations and the availability of Panera Bread to consumers on a wide market base.