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Panera Bread Company
Transcript of Panera Bread Company
Product Offerings and Menu
- Artisan signature bread and bakery items
-Key menu groups
-Offerings regularly reviewed and revised
-New product introductions (Pasta offerings)
-Consumer interest in healthier and nutritious menu offerings
-Website and in-store menu calorie count
-Secret menu ("Power menu")
-Catering selections menu
-Ready to serve
-Increase catering sales
-Continue to develop off-premise catering
Nonprofit Pay-What-You-Want Locations
-St. Louis Panera restaurant converted to pay-what-you want
-Profits donated to community programs
-Opened two similar Panera Cares cafes
-Positive and Negative of store
How it Works:
-Customers can sign up for a card at either their local Panera Bread or online at Panerabread.com
-When customers visit a store they present their cards to the cashier
-Whatever the customer purchases is automatically recorded in Panera's data base
1993: purchased Saint Louis Bakery-Cafés
1995: "Fast-casual dining" introduced
1997: Every Saint Louis bakeries outside St. Louis market were renamed Panera Bread
1999, Au Bon Pain division sold to ABP Corp. Panera Bread Company became the only focus.
1981: Ron Shaich and Louis Kane founded Au Bon Pain Co., , based in St. Louis
PANERA BREAD CO. Company Profile
2007: purchased 51% interest in Paradise Bakery-Cafés
PANERA BREAD CO. Profile (cont.)
2009: purchased the remaining 49%. Acquisition completed.
2008: expansion into Canada: 2 stores opened in Ontario, CA.
2010: William Moreton appointed President and CEO. Ron Shaich became the executive chairman
Aug, 2013: Moreton stepped down from co-CEO post.
"...where everyone can eat with dignity regardless of their ability to pay" - Ron Schaich
Donate day-old bread to food banks or the hunger
Identity was rooted in its fresh-baked breads
Attention to the quality and detail
Dining establishment base
Individual food preferences
Urban workers and suburban dwellers
Those who are seeking a healthier alternative to fast food
Make Panera Bread a nationally recognized brand name
Be the dominant restaurant operator in upscale, quick served dining
“Being better than the guys across the street”
Passing up other fast-casual restaurant competitors
Differentiate Panera Bread from Competitors
Offering an appealing selection
Breads, bagels, and pastry products
Hand-made and daily made
Serving high quality food with good value
Breakfast, lunch, dinner
Good customer service
Atmosphere pleasing and inviting
Company owned and franchised locations
1,708 locations in 44 different states and in Canada
Saint Louis Bread Co.
Paradise Bakery and Café
120 locations with drive through windows
(end of 2011)
Planned for 50 more last year
Operated a net work of 26 regional facilities
48 hours process
Distribution of the dough
196 temperature controlled trucks
Miles driven= 300-500
Fresh dough making capability
Economically smart to only make bread in a few locations and distribute to others
INCREASED BARGAINING POWER
Operations/size growth provided leverage with suppliers
Improved ingredient quality
Low risk to supply interruptions at store locations
-exclusive previews & tastings
-cooking and baking tips
-invitations to special events
-ideas for entertaining
-Entice customers to visit their restaurant more often
-Provide management with better marketing research making it possible to “get as close to one on one marketing with our customers as possible."
As of the end of 2012 Panera is nearing 10 million loyalty customers.
-Over 40% of all sales are by MyPanera members.
85% of consumers that were aware of a panera in their community had visited there atleast once
57% of consumers who had “ever tried” panera had visited one within the previous 30 days.
People who dined at panera frequently do so during the same part of the day, even though 81% indicated “considerable willingness” to try it at other parts of the day
3 Marketing Strategies
-In 2010 the MyPanera program was introduced, as advertising increased
Concept and Strategy
Product Offerings and Menu
By: Caroline Bristol, Adam Curyto, Anh Pham, Jaymee Potter
- Additional franchises help meet revenue and earning targets.
- No single unit franchise, must be multiple units
- Standard criteria for consideration
Do you think this strategy is sustainable and beneficial to Panera in the long run?
My Panera rewards
Market Niche (fast-casual dining)
Innovation in menu offerings
Consumer taste (organic)
Store growth (food service industry)
Stringent Regulation and licensing rules may affect margins
New Approach -MyPanera
Panera Profile (cont.)
Quality Awareness-Aimed at raising the quality of awareness about Panera by stressing its theme “Food you crave, food you can trust” as well as enhancing its appeal as a neighborhood gathering place
Variety-was an attempt to raise awareness of dining at Panera at different meal times.
Dinner Menu-An attempt to increase perception of Panera as a viable evening meal option by adding new entree menu items.
Make Today Better
In 2011 Panera announced its “Making Today Better” campaign. A $40 million advertising campaign that was aimed towards promotion through social media, predominantly of the MyPanera program.
“The hope of the campaign is to elevate Panera from a brand customers’ prefer, to one customers’ love”
Franchise fee: $35,000, 5% royalties to Panera
2011: 52% are franchises = 801 stores
2013: project a 5% (80-100 stores) expansion
Franchise Operations (cont.)
Food insecurity awareness