Panera Bread Swot Analysis - 1519 Words

Company’s Background The Panera Bread company was started in 1981 as Au Bon Pain Co., Inc. Established by Louis Kane, and Ron Shaich, the organization thrived along the east shore of the United States and universally all through the 1990s and turned into the predominant administrator inside the pastry shop bistro classification. Units were opened in the mall, shopping centers, and airport throughout the 1980s and 1990s. In 1993, Au Bon Pain Co., Inc. bought Saint Louis Bread Company ®, a chain of 20 pastry shop bistros situated in the St. Louis range. Near 1993 and 1997 normal unit volumes expanded by 75%. At last, the idea s name was renamed to Panera Bread in 1997 in every market outside St. Louis. By 1997, Panera Bread could end up†¦show more content†¦have higher growth rate than the company †¢ Inflation that will shot up the prices of food items. Macro environment Analysis by PESTEL Model PESTEL stands for - Political, Economic, Social, Technological, Environmental Legal factors that can impact the macro environment of a company. PESTEL investigation gives awesome insight about working difficulties Panera Bread Company will look in common large-scale condition other than focused powers. Among the 5 factors that can affect the macro environment, I have chosen two factors. These are: - 1) Social-culture factor 2) Laws and regulations Talking about Social-culture factor, Society s way of life and method of doing things affect the way of life of an association in a situation. Some of the social factors are: - 1)Socioeconomics and expertise level of the populace 2)States of mind (wellbeing, natural awareness) 3)Level of education 4)Attitude 5)Culture 6)Age and gender role Talking about more in detail, due to increasing interest in eating healthy food, Panera bread’s menu is consistently reviewed and revised to keep the interest of regular customers, fulfilling their changing consumer preferences and adaptive to change in environment. I would consider it as an Opportunity. To be in the food industry it has made so many changes to be in the market. According to the case study, the company had developedShow MoreRelatedSwot Analysis Of Panera Bread1524 Words   |  7 PagesEXECUTIVE SUMMARY The food service industry is one of the most competitive industries with Panera Bread in the food service industry more focused on a fast causal dining. Large corporations like McDonald, Starbucks, Chipotle, and Yum! Brand all serve their own variations of food which brings strong customer loyalty as well as give more options to customer that want to try something different. Since the industry face so many substitutes capturing and retaining customers is the biggest challenge aRead MorePanera Bread: SWOT Analysis and Recommendations891 Words   |  4 PagesPanera Bread Introduction Panera Bread (NASDAQ: PNRA) is one of the most financially successful quick service restaurant (QSR) chains operating in North America today, having attained a $4.3B market capitalization value as of this writing in July, 2012. Panera is achieving a 7.6% Profit Margin and 12.36% operating margin, both of which are difficult to maintain in an industry known for very rapid product lifecycles and the need to continually invest in the customer experience (Andersson, MossbergRead MorePanera Bread Company Swot Analysis Essay1501 Words   |  7 PagesOrganization This case study identified many strengths Panera Bread has including those dating back to Au Bon Pain Company; however, this section will only identify those strengths associated with the current position of Panera Bread Company. First and foremost is customer service. The company has been awarded with two major customer service awards including the J.D. Power and Associates’ restaurant satisfaction study which ‘‘ranked Panera Bread highest among quick-service restaurants in the MidwestRead MorePanera Bread Case877 Words   |  4 PagesPanera Bread Company Case * Student: -Miguel Etchebarne Question 1 What is Panera Bread’s strategy? Which of the five generic competitive strategies discussed in Chapter 5 most closely fit the competitive approach that Panera Bread is taking? What type of competitive advantage is Panera Bread trying to achieve? -Panera strategy was to make great bread broadly available to consumers across the United States. They have an attractive menu and the dinning ambience of his bakery-cafà ©sRead MorePanera Bread Is Implementing A Broad Differentiation Strategy795 Words   |  4 PagesIDENTIFICATION: Currently Panera Bread is implementing a broad differentiation strategy. Panera’s target market focuses on urban workers and suburban dwellers. Panera’s core concept is to create a unique cafà © experience, while providing high quality fresh baked goods. Panera’s long term strategy includes increasing it’s brand awareness, and to become the leader in the specialty bakery-cafà © segment. In order to achieve this goal, Panera plans to expand its locations, boost earnings per share 15%-20%Read MorePanera Bread Strategy Essay1230 Words   |  5 PagesRunning head: PANERA BREAD CASE Title: Panera Bread Strategy Ron Johnson March 1, 2009 Southwestern College Professional Studies Abstract This case study is about Panera Bread Company and its strategy it wishes to employ to become the best brand name of fresh bread in the United States. Panera Bread’s use of a broad differentiation strategy has helped their profitability and growth and rivals have found it hard to compete with the competitiveness of Panera Bread. A SWOT analysis will revealRead MorePanera Bread Case Study1356 Words   |  6 PagesPanera Bread Case Study 1. SWOT Analysis Strengths Panera is a company with many strengths. Many of their strengths stem from their positive interactions with their customers. Panera’s first strength is their high level of customer loyalty and satisfaction. They ranked in the highest categories in both compared to their competitors. This is a distinctive competency that they hold, something that they do better than their rivals. Resulting from Panera’s high customer satisfaction is their nextRead MorePanera Bread Company1126 Words   |  5 Pages1. What is Panera Bread’s strategy? Which of the competitive strategies discussed in Chapter 1 most closely fit the competitive approach that Panera Bread is taking? What type of competitive advantage is Panera Bread trying to achieve? Being a nationally recognized brand and a dominant in restaurant operations in the specialty bakery cafà © segment and to expand broadly in the regional market is Panera’s strategy. And by giving high quality product Panera is following their strategy. Panera’s CompetitiveRead MorePanara Breads Essay1319 Words   |  6 Pages| â€Å"Panera Bread Company in 2011: Pursuing growth in a difficult economy. | | Module II | | â€Å"Panera Bread Company in 2011: Pursuing growth in a difficult economy. | | Module II | MGT 495 March 30, 2013 Nate Huffman 127203 MGT 495 March 30, 2013 Nate Huffman 127203 Table of Contents What are the strategy elements of Panera Bread Company? How well do the pieces fit together? The two best indicators of how well a company’s strategy is working are whether theRead MorePanera Bread1420 Words   |  6 PagesOverview Panera Bread is ready for an epochal change in American eating habits. The company is a leader in the quick-casual restaurant business with more than 1,027 bakery-cafes in 36 states. Its locations, which operate under the Panera and Saint Louis Bread Company banners, offer made-to-order sandwiches built using a variety of artisan breads, including Asiago cheese bread, focaccia, and its classic sourdough bread. Its menu also features soups, salads, and gourmet coffees. In addition

Principles of Management Calin Rovinescu

Question: Discuss about the Principles of Management Calin Rovinescu. Answer: Introduction The following paper discusses principles of management with reference to Calin Rovinescu who is the CEO of Air Canada. He has served the role of managing the company for the past eight years. The Manager has also worked in other positions in the company since 2000 (Aircanada.com, 2017). Calin Rovinescu managerial roles Calin Rovinescu competently handles his interpersonal and informational roles as the president and Chief Executive officer of the Air Canada. He acts has the figurehead, leader and liaison of the company. He is the symbol of authority and the figurehead in companys legal and social duties. The manager motivates, builds relationships and communicates with the employees of the company to influence performance and increase the companys returns. Calin Rovinescu also communicates on behalf of the company. He disseminates information from external or internal sources. He also acts as the spokesperson to the outsiders. Therefore it can be said that Calin Rovinescu roles in Air Canada corresponds to Minztbergs managerial roles. Calin Rovinescu functions in management Planning: The manager is involved in forecasting the future of the company. He formulates the desired results for Air Canada. The manager is involved in creating both short term and long term objectives of the company. He formulates strategic plan for meeting companys objectives. The manager communicates the mission and vision of the company to keep the employees focused in continuously improving performance. The manager ensures that the company has resources to support the plan by overseeing preparation of a budget. Organizing: The manager is involved in creating a structure in the company that enhances communication and performance of daily tasks. Calin Rovinescu brings together physical and human resources to enhance the company performance. It is through organizing the manager is able to develop a chain of command that enhances effectiveness and efficiency in the organization. Calin Rovinescu is also involved in delegating responsibilities and ensuring coordination in the tasks that are performed in the company in order to achieve goals and objectives (Canada, 2017). Leading: Calin Rovinescu is the leader of Air Canada. He is continuously involved in influencing employees in the company to achieve the predetermined goals and objectives. He supervises, motivates and communicates with all personnel in the organization to influence their performance and ensure set objectives are met. Controlling activities: Calin Rovinescu is involved in measurement of the Air Canada performance. He is involved in setting standards for the companys activities and monitoring that actual performance is in accordance to the set standards. He uses the feedback in this process to make corrections in order to ensure that companys activities meet standard (Robbins et al., 2014). Calin Rovinescu effectiveness and efficiency Calin Rovinescu has been effective in the Air Canada for the past years as the CEO of the company. He has been able to increase customer satisfaction by improvi9ng service delivery. This has been enhanced by the effectiveness of the manager to plan and meet predetermined objectives. This has also been enhanced by the ability to influence employees towards exceptional performance and good control of activities. Calin Rovinescu has been efficiently managed the Air Canada Company. Through good organization, the company has been able to increase returns. The company increased both its revenues and total assets. This shows that Calin Rovinescu has successfully succeeded in allocating minimum resources to realize high returns. Calin Rovinescu has been able to exercise good control of activities in the company that has improved returns the past years. Ways that can make Calin Rovinescu more effective and efficient Calin Rovinescu can be more efficient by applying performance appraisal management tools in controlling activities in the organization. This will ensure that performance per employees is appraised thereby increasing control in the organization. This will enable efficient allocation of resources in the company by ensuring performance is effectively controlled (Langton et al., 2014). Calin Rovinescu can increase effectiveness in the company by improving the organizational structure in terms of chain of command, communication and coordination. This can be achieved by adopting an organizational structure that has well defined chains of commands and communication channels. This will improve coordination of tasks in the company and communication leading to easier running of the company. This will improve the companys ability to meet its goals and objectives. Calin Rovinescu effectiveness analysis on delegation and empowerment of employees Calin Rovinescu has delegated several responsibilities and duties in the company. The following departments report directly to the Chief executive officer include Chief finance officer, chief operational officer, secretary, sales, passage airlines, legal and human resource of the organization. The tasks in the organization are further delegated in department to enable performance of tasks in the company. This process ensures that Calin Rovinescu delegates responsibilities in the company to allow easy coordination and communication. Calin Rovinescu has also been able to empower employees in the Air Canada. He has continuously adopted a training and development program in the company to enhance the skills of employees to meet the requirements of their jobs. He has also facilitated morale of the employees by inspiration and rewards. Employees empowerment has also been done by acquisition of talents to the companys labour pool (Robbins et al., 2017). Ethical and Social Corporate Responsibilities Contract of Classical and Social economical approach of social corporate responsibility The social economical approach view corporate social responsibility as part of business. It states that businesses should be involved in solving the societys problem. The social economic view state that business not just exist to maximize shareholders rather exist at part of society. This entails that businesses should be involved in improvement of the society they exist in. This view looks that business benefits in a broader picture and require full business participation to society matters. The responsibility of the business is therefore in the whole society and not shareholders alone. On contract, classical view of Social corporate responsibility states that businesses have a responsibility to shareholders interest only. It states that business should focus on maximizing shareholders wealth and should not be involved in activities that reduce profits like corporate social responsibility (Pike, 2013). Roles of stakeholders in four approaches of social corporate responsibilities According to four approaches of social corporate responsibility, stakeholders have several roles to ensure good relationship of the business and the society. First stakeholders have a role to ensure the company is economically responsible. This ensures that the company gains profits and successes in meeting it economical obligations (Tilt, 2016). Second, the stakeholders have a role to ensure the organization is legally responsible to the society it operates in. This enables the organization to operate within the law. Third, stakeholders have a role to ensure the organization is ethically responsible. This role ensure the company engages on what is right to its customers and environment. Lastly the stakeholders have a role of enabling the company to be philanthropically responsible. This ensures the company supports the society thereby improving the society. These roles enables an organization to create good public relation, improve public, long run profits and better environment the reby enabling sustainability of the company in the society (Jones et al., 2009). Corporate Social responsibility Corporate Social responsibility means activities in the organizations that enable organization relate to it stakeholders responsibility. It involves actions that are aimed to creating a positive operating environment to the organization. This entails organization acting responsibility to all it stakeholders in the society and bringing success to all. It also means the organization doing what it believes is right. The stakeholders of an organization are customers, employees, shareholders, environment, government and community. I think businesses should be socially responsible to the society they operate in. Businesses should not only focus at shareholders interests but rather exist in the society as a responsible citizen. When businesses are socially responsible, they lead to success of all stakeholders of the company and not one side at the expense of the other. Businesses operating socially responsible protect the environment that enables sustainability and long term returns. Corporate Social responsibility enables the organization to build a public image, meet customer expectation, sustain profitability of the company and help improve the society (Trong Tuan, 2012). Self profile: View of management Management is an organizational activity that involves aligning resources to achieve a certain goal. Management involve activities aimed that attaining objectives by use of minimum resources and obtaining maximum returns. It process of several activities that enable businesses to operate and serve their purpose of existence. Management plan, organize, staff, direct and control organizational activities to achieve gals. Planning involve a management activity that predetermine activities to be carried out within a certain period of time. Planning creates focus in the organization by formulating objectives and activities to be done. This enables the organization to serve it purpose of existence. Plan in management projects physical, financial and human resources to be required in attaining a predetermined objective. Planning also projects the time required to complete activities for a specified period. Organizing is part of management that involves arranging activities and delegating re sponsibilities. This process enables sharing of authority to manage resources in the organization. Organizing enables communication in the organization by defining who reports to whom enabling execution of activities in the organization. Organizing enable management systematically delegate duties and responsibilities in the organization enabling effectiveness and efficiency. Staffing is a management activity that deals with activities of human resource in the organization. This activity involves recruiting, promoting and promoting employees in the organization. Staffing enables the organization to acquire and maintain talents that improve productivity. Staffing is an important activity in management because it helps in acquiring skillful qualified employees. Acquiring competent human resource is the first step to achieving organizational objectives. Directing is another management activity that involves influencing employees in the organization to attain a certain goal. It involves supervision and motivation that give employees morale to meet organization expectation performance. Directing also involve providing leadership in the organization that every point to ensure activities are in accordance with the plan. Lastly, the management is involved in controlling activities in the organization. Control involves setting standards for activities and making observations of the actual performance of activities. This means that control act as a monitor to ensure actual activities are undertaken as they are planned. Management therefore is a process of joined activities that complement one another in achieving an organizational goal. Management also has a starting point and follow and process that complete it function in an organization. Management starts by creating a plan, organizing duties and responsibilities, staffing, directing and lastly control. References Aircanada.com,. (2017). Corporate Governance. Aircanada.com. Retrieved 1 April 2017, from https://www.aircanada.com/ca/en/aco/home/about/corporate-governance.html Canada, A. (2017). Org Chart Air Canada. TheOfficialBoard. Retrieved 1 April 2017, from https://www.theofficialboard.com/org-chart/air-canada Jones, B., Bowd, R., Tench, R. (2009). Corporate irresponsibility and corporate social responsibility: competing realities. Social Responsibility Journal, 5(3), 300-310. https://dx.doi.org/10.1108/17471110910977249 Langton, N., Robbins, S. P., Judge, T., Breward, K. (2014). Fundamentals of organizational behaviour. Toronto: Pearson. Pike, S. (2013). Destination Marketing and Management Theories and Applications. Tourism Management, 34, 247-248. https://dx.doi.org/10.1016/j.tourman.2012.07.005 Robbins, Stephen P., De Cenzo, David A., Coulter, Mary. (2014). Fundamentals of Management: Essential Concepts and Applications, Student Value Edition. Pearson College Div. Robbins, S. P., Coulter, M. K., DeCenzo, D. A. (2017). Fundamentals of management. Tilt, C. (2016). Corporate social responsibility research: the importance of context. International Journal Of Corporate Social Responsibility, 1(1). https://dx.doi.org/10.1186/s40991-016-0003-7 Trong Tuan, L. (2012). Corporate social responsibility, ethics, and corporate governance. Social Responsibility Journal, 8(4), 547-560. https://dx.doi.org/10.1108/17471111211272110

Stress Essay Example

Stress Essay Stress is a word we are all familiar with, some of us maybe too familiar. There are many everyday factors that contribute to stress levels. Everyday things like work, raising children, paying the bills, and running errands are stressors that people tend to get wound up about. There are also much bigger pressures in life that people don’t have to deal with on a daily basis, things like divorce, marriage, getting fired, and death of a loved one. To deal with stress, you must first identify your own sources of anxiety. People can create their own stress by putting things off to the very last minute or not dealing with things correctly and efficiently. To identify your own sources of stress you must examine your life and habits. Many times people find things to help them deal with life that is worse than the actual stress. Numerous people smoke, drink, do drugs, and over or under eating. Many people also turn to medications. This stress management article, lists many other ways of dealing with it that are bad for you. But there are also good ways to deal with stress. A lot of people take bubble baths, read a book or have a nice, invigorating work out. In the article â€Å"How to Reduce, Prevent, and Cope with Stress† there are six strategies that help dealing with stress. The first tip is to avoid unnecessary stress. This advises you to avoid people and situations that may elevate your anxiety level. Strategy 2 Alter the Situation: This one I feel is an important one. It encourages you to deal with your feelings and to communicate effectively. Also, be willing to compromise when you do state your feelings. We will write a custom essay sample on Stress specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Stress specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Stress specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This strategy also advises that you manage your time more effectively to avoid being anxious over deadlines and other looming priorities. Strategy 3: Instead of getting upset about things try to look at them form a more positive stand point. Also evaluate how important what you’re worrying about is. If it isn’t that important then why stress? Another good point this article makes is, don’t set yourself up for failure. This means don’t set your standards too high for yourself. Lastly learn to appreciate your life and positive things around you. Strategy 4: Learn to see things as a learning experience and be more positive about it. Talking about it also helps whether it is a professional or a good friend. Accept the fact that things aren’t always going to go your way and deal with it. Strategy 5: My favorite is take time to relax and have fun taking care of and pampering your self is a great way to relieve stress and avoid it. There are thousands of ways to relax and just enjoy life Strategy 6: Exercise is important to preventing stress as is eating healthier. This article recommends staying away from caffeine, alcohol, tobacco, and sugar. Sleep is also very important to dealing with stress everyone gets cranky when they haven’t had enough sleep. Following this advice will lead to a more productive and less stressful life. http://helpguide. org/mental/stress_management_relief_coping. htm Melinda Smith, M. A. , Ellen Jaffe-Gill, M. A. , and Robert Segal, M. A contributed to this article. Last modified on: December 2008.

Free Essays on Crime And Delinquency

The debate between nature vs. nurture in regards to crime and delinquency is a long and heated one. Are some people really born criminals, or is our society and the environment and experiences children are brought up in the reason they become delinquent? Throughout this essay I am going to look at both sides of the argument, and offer an insight into the theoretical and sociological approaches surrounding this nature vs. nurture debate. The first step in looking at the nature side of the debate would be to look at the actual genetics of criminals. This is an area that has been, and still is, widely researched, often coming up with varied results. Here I’ll look at the actual biology of genetics, and the alleged abnormal gene, present in some criminals. For example, a study in 1993 identified an X chromosome mutation (associated with mild retardation and aggressive, violent criminal behavior) concentrated in one large Dutch family. This apparent mutation causes complete deficiencies of the enzyme monoamine oxidase (maoa), which metabolises the neurotransmitters serotonin, dopamine, and noradrenaline. David Goldman, a geneticist at the National Institute of Alcoholism and Alcohol Abuse, states: â€Å"men who possess this abnormal gene may typically engage in impulsive behavior, but the time, place, type, and seriousness of their crimes (which include exhibitionism, attempted rape, and arson) have been diverse and unpredictable† (Powledge, T.M., Vol 46:1, January 1996) Although there does seem to be some evidence that crime and genetics are related, the findings prove to be unpredictable. That is not to say that there have not been breakthroughs, and other areas of human biology have proved to be useful also. Adrian Rain, of the University of Southern California showed CAT scans comparing the brain activity of 42 convicted murderers, with those of 42 people with no apparent criminal traits (or convictions). The group of murderers te... Free Essays on Crime And Delinquency Free Essays on Crime And Delinquency The debate between nature vs. nurture in regards to crime and delinquency is a long and heated one. Are some people really born criminals, or is our society and the environment and experiences children are brought up in the reason they become delinquent? Throughout this essay I am going to look at both sides of the argument, and offer an insight into the theoretical and sociological approaches surrounding this nature vs. nurture debate. The first step in looking at the nature side of the debate would be to look at the actual genetics of criminals. This is an area that has been, and still is, widely researched, often coming up with varied results. Here I’ll look at the actual biology of genetics, and the alleged abnormal gene, present in some criminals. For example, a study in 1993 identified an X chromosome mutation (associated with mild retardation and aggressive, violent criminal behavior) concentrated in one large Dutch family. This apparent mutation causes complete deficiencies of the enzyme monoamine oxidase (maoa), which metabolises the neurotransmitters serotonin, dopamine, and noradrenaline. David Goldman, a geneticist at the National Institute of Alcoholism and Alcohol Abuse, states: â€Å"men who possess this abnormal gene may typically engage in impulsive behavior, but the time, place, type, and seriousness of their crimes (which include exhibitionism, attempted rape, and arson) have been diverse and unpredictable† (Powledge, T.M., Vol 46:1, January 1996) Although there does seem to be some evidence that crime and genetics are related, the findings prove to be unpredictable. That is not to say that there have not been breakthroughs, and other areas of human biology have proved to be useful also. Adrian Rain, of the University of Southern California showed CAT scans comparing the brain activity of 42 convicted murderers, with those of 42 people with no apparent criminal traits (or convictions). The group of murderers te...

My life sounds like Essay Example | Topics and Well Written Essays - 750 words

My life sounds like - Essay Example The words in the song encourage me to do what I desire, and what contributes positively to the advancement of humanity. The words that insist that every second count because second chances do not exist inspire me. More to these, the song highlights about forgiving your enemies, which helps me keep from holding grudges in life, and aim at living at peace with all people. Being concerned about the well being of the less fortunate in society forms a significant part of my life. Consequently, Michael Jackson inspires me to participate, continually, in activities that promote the lives of the less fortunate. The song insists on caring for the entire human race, through such acts as giving. It also strengthens my unity values as it teaches me to look at the world as a place that should be filled with peace. Therefore, the song helps me to reach out to the needy around me, and help them live a better life. Switchfoot’s song â€Å"Dare you to move† keeps me going when I face hu rdles in my life. Whenever I experience failure, and thoughts of despair crowd my mind, the words â€Å"I dare you to lift yourself up off the floor† encourage me to keep on trying, no matter how difficult the situation may get. In my academics, for example, I am motivated to keep on working hard as the song teaches me that being strong makes a difference between where I am today, and where I could be tomorrow. The song increases my determination to face the tensions in all areas of life with an unfailing spirit.

Managing marketing relationships Article Example | Topics and Well Written Essays - 3500 words

Managing marketing relationships - Article Example Finally, revenue does not necessarily increase with time for all types of customers (Reinartz & Kumar, 2000). But relationship marketing still has been adopted with aim to: build grater customer loyalty and relation; develop methods of creating longer term relationships; Lead ultimately to increase sales and profits. To build up customer loyalty, three kinds of marketing tools were designed: economic, psychological (creating links) and structural (partnerships) (Berry and Parasumaran, 1991). In order to increase loyalty relationship marketing has came into existence.Relationship marketing has been defined by Gronroos (1990, 1991, 1994) who has consistently argued for the importance of ensuring that relationships with customers should be continuously developed: "Marketing is to establish, maintain and enhance relationships with customers and other partners, at a profit, so that the objectives of the parties involve are met. This is achieved by a Mutual exchange and fulfillment of prom ises." Gronroos argues that all marketing strategies lie on a continuum ranging from transactional to relational marketing where relationship marketing can be judged in terms of measures of customer retention rather than marketing share. RM requires the effective acquisition and retention of customers for the building of a more efficient operation and ultimately, a stronger competitive position. Now being familiar with a bank doing retail banking in the country, and having 500 branches and over 2 million customers. I will try to discuss the relationship marketing strategies for the particular bank. It is an important aspect of retail banking to... The reasoning behind retaining the customer is simple i.e. if we want to be profitable and increase it, hold on to the good customers. To identify the good customers’ bank has divided the customers in several tiers in terms of profitability and that these tiers often have quite different service expectations and needs. According to Valarie Zeithaml, Roland Rust and Katharine Lemony (2001) it’s critical that organizations must understand the needs of customers. Customers within different profitability tiers and adjust their service level accordingly. Bank has developed customers around various levels of contribution, different needs (including sensitivities to such variables as price, comfort and speed) and identifiable personal profiles such as demographics. Bank has stratified its customers according to their requirements. At the top level, customers, who constitute a very small percentage of a bank’s customer’ base. They are heavy users of services and c ontribute a large share of the profits generated in the bank. Typically this segment is relatively less price sensitive but expects highest service levels in return and is likely to willing to invest in and try new services. The next tier forms a larger percentage of customers than the top one’s and contributes less profit to the bank in comparison to top ones. They tend to be slightly more price sensitive and less committed to the firm. The third level of customers provides the bulk of customer base.

This Mystery Shopping Activity Tourism Essay

This Mystery Shopping Activity Tourism Essay 1.1 Introduction In this assignment, mystery shopping will be shown with relation to three types of hospitality businesses. Mystery Shopping activities should be carried out at regular intervals. Clear performance objectives can be set by the definition of benchmarks which can serve both as possible motivators within the company and also as a parameter in a bonus or commission system. Mystery shopping or a mystery consumer is a tool used externally by market research companies or watchdog organizations or internally by companies themselves to measure quality of service or compliance to regulation, or to gather specific information about products and services. The mystery consumers specific identity is generally not known by the establishment being evaluated. In addition, temporarily implemented Mystery Shopping studies can be made use of to check and evaluate individual marketing activities. Beside that, secret shoppers is a tool used by businesses and market research companies to measure quality of retail service or gather specific information about products and services. Then, mystery shoppers posing as normal customers perform specific tasks-such as purchasing a product, asking questions and then provide detailed reports or feedback about their experiences. Mystery shopping is increasingly used to provide feedback on customer services. Furthermore, some tasks that may be carried out by the mystery shopper include taking photographs, measurements, consumer count or inventory count and so on. Recording the time it takes to complete a specific task with a timer is also a possibility. In todays society, quality customer service depends on whether a business keeps their customers or loses them. However, good marketing brings customers in, but its great service that keeps them. Finding out whether a business is doing well or not can sometimes be difficult to figure out, but the imperative factor is to know what customers think is important, what they want, and what to improve if necessary and a lot of things. The best way to find out this information is create a customer survey. By creating a customer service survey, customers are able to write down their views and opinions about the service they have received. Whether it is good or bad, the comments can then be used to reflect on what may need to be done to the business to either improve it or maintain its standards. 1.2 Comprehensive survey for this mystery shopping activity http://t2.gstatic.com/images?q=tbn:ANd9GcSPUAhK0xbQx-o6TZSV2xMSeGzoj3D3IVJQG822verXBfitYDuR http://t2.gstatic.com/images?q=tbn:ANd9GcSiOIvP7O9E5Soe8MMpo6Gp39HebiKkXE55RlG8hTgY_fNEWYUFAw http://t3.gstatic.com/images?q=tbn:ANd9GcTdbyWhLF7GMsZO2UcsKdldHa2l8IgJ2bt6fb8GqyxOwJnmYP6b This mystery shopping activity is done at three types of hospitality business that is in Pizza Hut, McDonalds and KFC. Interims of service that is competence, friendliness and waiting times , the quality of advice and product recommendation or food survey , living from service standards or perfect , cross selling. Beside this, presentation of goods or foods that want to serve to the customer , availability of goods in the range , indication of prices with a reasonable price for customer, cleanliness in surrounding area and implementation of marketing activities. Essentially, the types of questions that should be asked in the survey such as: (Please tick ) the answers below:- 1. Was the exterior to the restaurant clean? Clean ( ) Good ( ) Poor ( ) 2. Were they greeted in a friendly manner? Excellent ( ) Good ( ) Poor ( ) 3. How long the waiter or waitress take time to served the food ? Less than 15 minutes ( ) More than a minutes ( ) Above one hours ( ) 4. Was the temperature comfortable? Hot ( ) Cold ( ) Warm ( ) 5. Did the staff listen or pay attention carefully or not when the customer ask for something? Good ( ) Poor ( ) Very Poor ( ) 6. Was the restroom clean and fully stocked? Clean ( ) Poor ( ) Very Poor ( ) 7. Cleanliness of the staff ? Very Clean ( ) Good ( ) Poor ( ) 8. The place look like professional ? Yes ( ) No ( ) Balance ( ) 9. How knowledgeable were the customer service representatives at the organization? Very knowledgeable ( ) Good ( ) Poor Knowledgeable ( ) 10. How helpful were the customer service representatives at the organization? Very helpful ( ) Good ( ) Poor ( ) If there is any comments please write here:-________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 1.3 Conclusion One on one appraisal of each consultants Mystery Shopping report would be recommended to highlight their efficiencies or deficiencies with a view to improving their overall performance in their future dealings with prospective buyers. This could be done at a meeting between your Sales Manager and your Consultant. The National Sales Manager can also perform one on one appraisals of the Mystery Shopping experience with their District Managers to discuss the overall performance of their area of responsibility. The mystery shopper will then give a feedback report to his/her employer. Some tasks that may be carried out by the mystery shopper include taking photographs, measurements, consumer count or inventory count. Recording the time it takes to complete a specific task with a timer is also a possibility. Good marketing brings customers in, but its great service that keeps them. Posing as a customer, a researcher then analyzes the experience, collecting data and rating the encounter based on those measures. Mystery shopping has become a popular market research tool for monitoring customer experience. This is very helpful to us to evaluate the mystery shopping activity. QUESTION 2 2.1 Introduction In this assignment, researched and factors in setting up a restaurant business are going to be explored , but also features such as demographics in attracting and identifying customers are going to be determined. There are many different aspects that need to be well thought of and considered when opening up any new restaurant. Before opening or starting a restaurant business, people are usually unaware of the high failure rate that can happen due to quickly knowing that there can sometimes be more work than they had originally anticipated, resulting in them believing that they are not suited to the restaurant business. Beside this, when open a new restaurant many things can be done with a proper planning, budgeting, having a procedure on how to do and other things. It is because will give a good result the end of a new restaurant and fell in a good appearance, environment, cleanliness, safe work, and a lot of things can be done here. 2.2 Need to consider when open the restaurant? Firstly, deciding on a restaurant concept which can brings of deciding what type of restaurant that want to open will depend of a variety of things. Often times people who want to open their own restaurant want to serve food of their like to cook, in an atmosphere they feel comfortable in. Moreover, other people are interested in Franchising. Restaurant franchises offer a number of benefits, including instant name recognition and built-in marketing. However, many restaurant franchises dont come cheap and owners must be willing to follow a stringent set of rules. Take a look of the examples are franchise vs. independent restaurants, how to become a franchisee and types of restaurants. Secondly, find a good restaurant Location on how the location is vital to the success of any restaurant. There are many factors to consider when searching or looking for that perfect restaurant location, including population base, local employment figures and accessibility. Beside this, once find that a perfect or best location, will need to make sure to negotiate the best lease possible for the new restaurant that are finding the perfect location, how to determine population base and on how to negotiate a lease information. Writing a business plan is a third step to prepare for one of the person to get interview with the bank, the person need to do their homework. Creating a business plan that outlines of the particular restaurant and how it will plan to make it profitable, will show the loan officer to mean business. Also make sure arrived at the bank with all the necessary paperwork, including personal income statements, tax returns and anything else the banker ask for like a the reason need a business plan, writing a restaurant business plan and be get ready for the bank interview. Fourthly, selecting the perfect restaurant name. However, the restaurant names may reflect a theme, a location, or simply be a play on words. The important thing to consider is the impression it will leave on customers. Select a name that will be easy to customers to remember and spell. Nothing is more frustrating than not being able to find a restaurant online or in the Yellow Pages because of the arent spelling it correctly of choosing a restaurant name and also restaurant names that inspire to the own restaurant and for the customer. Firth thing is writing the menu on what to be prepared for the customer on different types of theme and so on. The menu must is a huge part of your restaurant. After all, it is essentially why the customers keep coming back because the customer love the food. Not only this, the layout and design is just as important as whats listed on the menu. Avoid amateur looking menu designs, such as clip art or photocopied handwriting. Finally, knowing how to price the menu will help increase your profit margins, giving you more money to invest into a new restaurant and based on how the price of the menu, menu design and creativity and tips for the writing a restaurant menu and others. Lastly, the need to consider when it want to open a restaurant is equipping of the restaurant. Outfitting of the restaurant kitchen, dining room and bar is the largest part to start up budget. Moreover, shop around for bargain deals of used equipment and leased equipment. Also understanding needs and wants is important in avoiding the pitfalls of buying unnecessary furniture and equipment, which can set the way over budget. Begin with the basics, and once the have those you can pick up a few extras. For examples five tips for stocking of the restaurant, why need a POS System and benefits of leased equipment. 2.3 How can get the customer ? By forming strategic alliances event facilities. After a concert or sporting event, people are hungry and want to eat. Remember that people sometimes travel long distances for this event, do not want to go home with an empty stomach. Beside this, after the concert finished, the restaurant was packed with concert audiences. It can be do a part to promote upcoming events happening in the restaurant. Furthermore, participate in competitions one of the greatest ways to get media attention and therefore, to get the new business is to win the contest. Such as, enter the chef in a cooking contest. Read publication restaurant and browse the internet to find out about a contest that be may able to enter. If all else fails, create the own contest and invite local restaurants to participate. So even if you lose, the more still will generate great publicity and get new customers to the door. Demographics factors is the socioeconomic characteristics of a population articulated statistically, such as age, sex, occupation, religion, martial status, birth rate, death rate and income rate and others. Considering these factors when opening up a business like a restaurant not only helps the owner target specific customers, but can also be an advantage in the business environment itself. Moreover, determining whether or not an owner wants to have a family orientated restaurant over and above a fine dining restaurant usually targeted at adults only, is a prime example of how demographic factors can affect the choice of what type of establishment is going to be run. 2.4 Conclusion Overall of this assignment its a starting a restaurant business, owners and managers need to take into consideration the competitive industry that they are about to invest in. The performance of a given service may vary across service providers, service employees, consumers and service encounters. starting with a good concept will dictate the food menu, the location, the dà ©cor, and all other important facets of the business. Finally, in achieving a successful restaurant business and attracting and keeping clientele, strategies such as customer referrals, networking, merchandising and target marketing are inexpensive yet effective ways of doing so.