1-PANERA BREAD COMPANY BACKGROUND
Panera Bread is a bakery café chain store. This company is operating in the United States and Canada. The company was founded in 198. Now, the firm is operating over 2000 locations in both countries. The headquarters of the company is in Sunset Hills, Missouri. This firm contains an immense range of bakery products for customers in the market. According to 2016 financial reports, the revenue of the company is US$2.795 billion
History of Panera Bread Company
The company was founded by Ken & Linda. The first location was in Kirkwood, Missouri. In 2000, the company moved headquarters in Richmond Heights, Missouri. The company evolved with time. For Instance, in 2007, it bought a 51 % stake in Paradise Bakery & Café, and the purpose was to increase the market share, expand the business, and increase the profitability (Fastcasual.com). The company’s evolvement also demonstrated some CWSR measures. The recent development of the firm was the announcement of all its products without artificial colors or ingredient. Some controversies were also in the limelight in recent years. For Instance, 2018 is not a good year for this firm due to the massive information leakage from its official website. However, still, the company contains a growth in the competitive landscape.
Milestones/Critical Events of Panera Bread Company
Apart from the information breakdown in 2018, the company initiated the consulting business to help other restaurants to remove artificial ingredients or flavors from products. The firm has become a big contributor to societal and environmental impact. It improved its delivery services in almost 900 cities through hiring or employing its drivers
Size of Panera Bread Company
The size of the company is not as big as compared to other bakery chains in the global market. However, the business has been expanded in both the United States and Canada. Serving customers in the over 100 locations indicate the big size of the company.
Markets for Panera Bread Company
Main markets to operate are the United States and Canada. The firm operates in several states along with a broad range of products and services. However, different competitors have also evolved. The competitive position in these markets is depicted in the diagram below.
Source: https://seekingalpha.com/article/4020499-panera-bread-industry-outperformer
Market Share of Panera Bread Company
The market share has increased by 8% in recent quarters. It is a big shift in the competitive market that depicted significant market growth (Whitten).
Locations of Panera Bread Company
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Description of Business of Panera Bread Company
Panera Bread Company operates franchises and owns retail chains of bakery café. The firm sells a broad product line in different regions at low prices to customers. The business operations of this firm are quite different from other bakery companies due to different sustainability measures. The main products and services of the company are as under
Products and Services of Panera Bread Company
- Bageland baguettes
- Cold sandwiches
- Hot Panini
- Salads
- Soups
- Coffee and teas
The firm has shaped or developed these products according to customer needs in potential markets. Quality and differentiation are core product strategies. Due to the effective implementation of these strategies, the firm has successfully generated good revenues. Interestingly, the development of these product lines reflects the mission and vision of the company. The management aims to meet its goals and objective of aligning its mission and vision for a long run (APSwiecicki).
2-VISION & MISSION OF PANERA BREAD COMPANY
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Mission of Panera Bread Company
The mission of the company is to focus on bakery centric products, as it wants to become a driving force regarding the artisanal bread craze in the United States of America and Canada.
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Vision of Panera Bread Company
The vision of the company is to create a specialty café, which is associated with fresh bakery products and quick service menu selection.
The mission and vision statement of the company depicts its strategy in the competitive market. It has been revealed that all product developments and market strategies were triggered by the mission and vision statement. Especially in the business expansion process, it is necessary for the company to carry the same vision and mission in the competitive market. However, some improvisations regarding product and market strategy are needed to make the difference.
3-GOALS, OBJECTIVES & STRATEGIES OF PANERA BREAD COMPANY
The main strategy of the organization is to develop the premium café bakery experience to different people living in urban areas in the United States and Canada. These people are the target market for this company. The segmentation has become a key market strategy of this company because customers are divided into the different segments to sell different products. Another strategy of the company is to make high quality and differentiated bread to meet the needs of customers in the United States and Canada. The firm contains the best distribution channels to have access to target customers. It has been revealed that the firm aims to streamline its growth every year. Significant growth each year regarding sales and expansion are one of the most prominent goals of the company in the competitive bread café market. Another goal of the firm is to become the most recognized brand in the presence of major players in the market. It is to be attained through sustainability measures, broad product range, and differentiation. Apart from these goals and strategies, the prominent marketing strategy of the company is to use some focused groups to examine or determine the customer’s food preferences (Solis).
In the end, it is to be concluded that the Panera Bread Company is capable of sustaining its growth. However, some strategic considerations are needed to power up the brand strategy and increase the market share. The firm aims to gain a competitive advantage over other rivals, and it is possible through aligning strategies with goals, objectives, mission, and vision.
Work Cited
APSwiecicki. “Panera: Winners in Fast Casual.” RCTOM. RCTOM, 6 december 2015. Web. 7 November 2018. https://rctom.hbs.org/submission/panera-winners-in-fast-casual/.
Fastcasual.com.” Panera buys 51% of Paradise Bakery for $21.1MM.” Fast Casual. Fast Casual, 13 November 2006. Web. 7 November 2018. https://www.fastcasual.com/news/panera-buys-51-of-paradise-bakery-for-211mm/.
Solis, Brian. “Panera Bread Bakes Plans For Growth By Investing In Customer Relevance, Wellness And Personalization.” Forbes. Forbes, 26 September 2018. Web. 7 November 2018. https://www.forbes.com/sites/briansolis/2018/
09/26/panera-bread-bakes-plans-for-growth-by-investing-in-customer-relevance-wellness-and-personalization/#6adab5b424e7.
Whitten, Sarah. “Panera Bread shares hit all-time high on optimistic outlook.” CNBC. CNBC, 8 February 2017. Web. 7 November 2018. https://www.cnbc.com/2017/02/08/panera-bread-shares-hit-all-time-high-on-optimistic-outlook.html.
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