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– President and Co-CEO since May 2010. – Executive Vice President and Chief Operating Officer since November 2011 Charles J. Chapman, III – Executive Vice President and Chief Concept Officer since May 2012 Scott Davis In addition, there are Chief Officers who head up specific departments such as Legal, Supply Chain, Public Relations, Technology & Transformation, Information, Franchise Expansion, Marketing, and Development Panera is an entrepreneurial company that is dedicated to equal employment opportunity.
They consider applicants for all position regardless of their race, sex, color, religion, natural origin, age, disability, or any other status.
Panera encourages all qualified individuals to apply become a part of their company. In 2011 Panera focused on their Panini’s and adding more protein options to their menu—their Panini sales increased by 15%. They will continue to push these products as well as improve their produce selections to bring higher quality, fresher products to their customers Panera's Earnings per Share (EPS) grew 28% in 2011, making it the fourth consecutive increase year.
Panera’s average weekly sales (year-to-date) for the third quarter in 2012 were $47,438
Net sales for the cafes are up 6.2% and revenue increased 17% to $529 million. Panera has a large target market.
They target people of all ages—they have a children's menu for kids as well as a wide variety of meals suited for all adults.
Their market research shows that a growing portion of the population, especially the older segments, has come to detest fast food and “those people are Panera's best customers." As of 2012, there are 1,625 bakery-cafes in 44 states and in Ontario Canada
The cafes are found primarily in suburban, strip mall, and regional mall locations.
Panera also offers a catering line. Competitive Environment
Direct competitors include bakery-cafes that also produce fresh baked goods, made-to-order sandwiches, unique soups, hand tossed salads, and custom roasted coffee beverages that include the following:
1. Einstein Noah Restaurant Group Inc.
2. Starbucks Corporation
3. Al Maousherji Catering Co. (Panera Bread Co.)
4. Bahrain Airport Services BSC
5. Thomas and King Inc.
6. Watami Company Ltd. (MarketLine).
Indirect competitors consist of the following: Fast food restaurants and sit down dining venues.
2. Wendy’s (Panera Bread Co.) Technological Environment In order to attract more customers Panera Bread started offering wireless fidelity in the café’s in 2003. This allowed customers to use the internet free of charge, resulting in customers spending more time in the cafés.
Panera Bread offers information on their company website www.panerabread.com Panera became a successful business prior to the time the United States has been considered in a recession, which started in December of 2007. Still Panera Bread has managed to prevail as a company with high sales. This was all possible because of the changes and addition the company made to their cafés over the following years. In 2010 Panera made the list of 100 Fastest-growing companies and was one of only two companies that made that list that year U.S.Equal Employment Opportunity Commission (EEOC)-Panera considers all applications for hiring their employees. Panera does not discriminate against race, sex, color, religion, age, or disability (Panera).
The Fair Labor Standards Act (FLSA) - Panera treats their employees fairly by paying them minimum wage with increases in pay after a period of time of work. Their employees receive overtime pay and they follow the correct laws for young workers (PNRA).
Legal Proceedings- Panera publishes all legal proceedings in their annual report. Many of the lawsuits were filed by stakeholders (Marketline).
The Occupational Safety and Health Act (OSHA) - Panera is required to give their employees break periods of rest and break periods for meal time. Panera has to train all their employees, provide a first aid kit in the café, and display posters of the labor laws The sociocultural environment benefits Panera Bread since the trend of healthy living and eating has taken over.
Panera offers healthy choices of sides ranging from fruit cups, bread, and an apple.
Panera continues to add healthy choices to their menus yearly.
On their website there is a nutrition calculator that allows customers to enter their meal choice and calculate its nutritional value. Panera believes in giving back to the community.
Operation Dough-Nation started in 1992 that has four major activities Community Breadbox cash collection boxes, the Day-End Dough-Nation program, Panera/SCRIP Card fundraising and the participation in community events. Panera also uses their atmosphere to appeal to customers in today's society. Panera's strengths are in customer service,customer experience, financial aspects, and expansion into new markets. Panera's weaknesses are their limited scale of operations and limited bargaining power.
A strong and growing fast food cafe industry in the United States.
The restaurant industry is expected to expand in 2012, despite a bad economy.
Sales are expected to be increased by expanded menu choices and off-premise options, such as takeout to meet convenience of Americans.
A strong trend towards organic food in the United States is likely to increase, such as the company’s cookies, frozen drinks, milk, and also yogurt. Panera's biggest threats are the rising prices of food and the competitiveness of the restaurant business. Panera also has to adhere to many laws and regulations. Demographics:
Male and Female of all generations
Male and female business people
Middle class suburban people
College educated men and women
Health conscious-those willing to spend money on healthier food and a more relaxed dining experience
Those living a fast pace life and crave a casual optional sit-down dining experience. Target Market: People of all ages Media Habits
The target market is likely to get their news from everywhere, including television, internet, and newspapers because their target market is so broad. Panera has over one million likes on facebook. https://www.facebook.com/panerabread Panera has about 73,000 followers on twitter. https://twitter.com/panerabread Panera positions itself in a unique way focusing on how the costumer.
They are usually located in suburban strip malls where they appeal most to people.
The food provided ranges from sandwiches and soups to coffee and muffins.
Panera Bread provides healthier alternatives to fast food that are closer to a home cooked meal compared to other fast food restaurants.
A new product becoming popular in the Panera restaurants is the Panini. The Panini has attracted many sandwich loving costumers looking for a quick healthier lunch by providing different choices with unique varieties and recipes.
The different choices consist of:
Roasted Turkey Artichoke
Steak and White Cheddar
Roasted Turkey and Cranberry
Tomato and Mozzarella
Frontega Chicken The pricing strategy for the Panini will not change compared to Panera’s other products. The Panini will have a price of $5.99 and will have the choice of being purchased with a side such as their soup and other sandwiches.
The price of the Panini price itself tends to be a more expensive than a meal at a fast food restaurant, but Panera's quality and increased nutrition level of it's sandwich is better and worth more. Panera's main source of promotion is technology.
-TV commercials will be used to promote the new products and the atmosphere and unique feel of the restaurant.
-Radio commercials will also be used for those people that are on the go listening to their radio on the way to work. This works out because it is planting the idea and choice of Panera as a choice for lunch break.
-Ads on the internet will be placed on YouTube as previews before a chosen video to get the idea to video watchers. Social networks such as Facebook and Twitter will be used to provide customers with information and introduction to new products or new locations.
-Ads in magazines aim for a different groups of people that are frequent magazine readers. This will not be used as much as technological choices but will still be able to get the word out. Panera customers can also join mypanera online to receive special offers. (http://mypanera.panerabread.com/?ref=yt)