Panera should broaden its target customers range from the 25 – 50 people that earn between $40,000 and 100,000 a year to 18 to 70 year old and people that earn more than 100,000 a year. This is recommended because Panera’s high brand equity has enabled it charge premium prices for its food products and the strategy has been successful in the past.
Panera is also widely recognized as a provider of not just quality products but also health food products that can be consumers by the entire family. The company should therefore change its customer focus from the current 25 and 50 year olds and include more people in its focus, including children and the older generation. By focusing on people that earn more than 100,000 a year, Panera will be able to successfully market its food products.
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