Resource and Competitive Position Analysis
The restaurant industry is a competitive industry. From low cost meals to specialty food items, restaurants have become save. “y’ in their efforts to attract customers.
Pander Bread has developed a strategy to attract customers that are looking for a change from fast food. Consumers are looking for new ideas for meals. They are looking for quality foods over cheap fast food. Pander has been able to attract and draw customers away from the fast food market with their unique food ideas by drawing upon the many strengths of the company.
The company has been hindered y the weaknesses in its strategy and now needs to develop ideas to turn those weaknesses into opportunities to increase customers and revenue. A SOOT analysis of the company will highlight areas where the company is performing well and areas that need improved. Strengths Quality ingredients – Pander offers the highest quality of products to its customers. From fresh vegetables to gluten free items. The company offers a menu to suit a variety of customers. Niche Market – Pancreas menu items have evolved to meet the taste and demands of customers.
Brand – The company has a strong and distinctive rand Reward card – This allows Pander to build a relationship with customers. Customers are rewarded with free food items for being loyal customers. Weakness Pricing – While Pander offers higher quality foods, many people are turned off by the high cost of the food. Pancreas food is priced considerable higher than that of their competitors. Many of the fast-food chains offer and entire meal for less than the cost of a sandwich at Pander Brand name – The Company is not as well-known as some of its competitors and often gets overlooked.
Menu Selection – Pancreas menu is limited o soups, salad, sandwiches and bread. Customers wanting more variety will look for other food ideas. Market share – The company is a national brand sold exclusively in the United States Opportunities Expansion – The Company can expand business to the international market. This opens the company up to a new market with similar taste. This allows the company to increase market share and revenue. Catering – Pander offers catering services which is a feature that many fast food companies do not offer.
Catering services allows the company to increase revenue and introduces menu items to a new range of customers. Trends – Consumer taste can change and evolve over time. This gives Pander the opportunity to adjust and adapt its menu to meet those needs. Threats Chipolata – Chipolata has a similar strategy to that of Pander. It offers fresh ingredients and healthier food items that consumers are seeking. Chipolata stores have cropped up across the country and offer consumers quality meal over standard fast food items. Struck – Struck has been a leader in the coffee business for years.
They have a larger beverage menu than that offered by Chipolata. Coffee drinkers prefer the various options offered by Struck to the limited drink menu of Pander. McDonald’s – McDonald’s competes with Pander on a different level. They offer customers cheap and quick food selections. They have introduced healthier food items to their menu to meet the needs of more health conscious individuals. Pander has distinctive competencies that set is apart from competitors. Its artisan breads are made fresh daily and gives customers a variety of options to choose from. Customers frequent the restaurant exclusively to purchase the breads.
For Pander to continue to grow, the company needs to look at making an entrance into the global markets. Pander has achieved a great deal of success domestically, but has not managed to penetrate international markets. Pander needs to conduct research on trends in foreign countries and develop products to fit the needs of those consumers. Once research has been completed, market testing needs to occur to see how consumers respond to the menu items. Next, the company needs to stay abreast of current trends in the market and make adjustments to its menu items.
Consumer taste changes often and companies that onto adapt to change will not be successful. Additionally, the company needs to look at ways to drive up traffic during evening hours. Pander has been very success with the lunch crowd, but traffic drops off after that. Pander needs on incorporate menu items that will attract people out for dinner or that will be appeasing to families with children. Pander has enjoyed great success over the years. Customers are pleased with the variety of items offered by the restaurant. Pander has been very successful with the fast-casual market, quality dishes and the esthetics look of the stores.
Pancreas strength lies in attracting and retaining customers and evidenced by the company’s increased revenue. Pander is a leader in the market and set the standard for which many companies are imitating.