Panera Bread is the biggest café-bakery chain in the country. Its signature, specialty bread and affordable, gourmet food selections put Panera Bread in a class all its own.
Panera Bread began back in 1981. It started out as a small sandwich shop. After going public the company grew in size with the addition of more stores. Today the choice to stay healthy has a positive impact on the Panera brand. Panera’s salads offer a great abundance of vitamins while having the ability to satisfy anyone’s appetite. Just because the food is healthier does not mean there is a sacrifice in the taste. According to Panera, it has some of the most loyal customers in the industry. They keep coming back over and over despite other under-priced foods that they can eat elsewhere.
Panera’s target market is affluent suburbanites, particularly the baby boomers, who are willing to spend more money for what they perceive to be a healthier food and a more relaxed dining experience. The business crowd is very important to the everyday business at Panera. In response to this, a half salad and a half sandwich deal was created to appeal to this segment. They usually come from all over and enjoy the added benefit of the wireless internet. Being able to check your email away from work is an invaluable tool that some businesses can’t be left without.
The unique characteristics they possess are quick food that is casual and healthy. The restaurant has fireplaces and warm colors and is considered a “cozy hangout”. The most beneficial characteristic is the free Wi-Fi internet access.
The workers are kept happy with a wage rate that is nearly 30 percent higher than the closes competitor. The service provided of these workers is crucial in keeping the customers happy. The service is very timely because enough staff is kept on hand. In the end the experience is unlike any other. The combination of foods can be best compared to a French restaurant. Most important, the attention to detail is not forgotten.
The business case study of Panera Bread is an interesting one. The strategy of; identifying the opportunities and threats, analyzing the target market, determining position in the market, deciding on a growth strategy and figuring out the marketing mix has played an important role in the growth of Panera Bread.