Posted: 02 Nov 2009 12:00 AM PST at http://foodbiznews.blogspot.com/
I am sharing this will all of you because it is so good. Bill Cross is one of the best in the industry and understand how to unlock the potential of a brand! I get it as well that’s why I am sharing. One of these days Bill Cross will be hired to be the CMO at a national restaurant chain and he will propel that company to the next level! Of that I am sure!
This article in Advertising Age shows the way that restaurant companies have to go.
Panera Bread Co. is smart and successful. Their bottom line is up, openings of new restaurants are up, and now they've hired Michael Simon, a smart CPG marketer from Pepperidge Farm (a division of Campbell Soup), to handle their marketing. He's not just the EVP of Marketing, he's the CMO. With a really solid understanding of the retail channel, you can bet Panera will begin looking at alternative delivery mechanisms for gaining a great "share of stomach" (as opposed to the old-think "market share").
That's because today's consumer doesn't think in segmented channels like we do in business. When you're hungry, you look for meal solutions. Those solutions might be away-from-home, snacking, vending, at work, at home. Some of these choices are dictated by circumstance: vending consumers are often stuck in places where they can't leave (factories, offices, colleges). Breakfast as a daypart is often determined by scheduling ("I have to get the hell out of here fast and don't have time to stop off and eat a good breakfast").
Sadly, most restaurants are looking at the future by scouring the past, offering $$$-off coupons or specials that drain their bottom lines while doing little or nothing to boost consumer loyalty (I'll go to your restaurant for the special, but that doesn't mean I'll come back when I have to pay full-price). You can bet that Panera will be looking at ways to leverage its brand to retail now that Simon is on board. Too bad other chains aren't as forward-thinking. This was posted by Bill Cross of Broad Street Licensing Group at http://foodbiznews.blogspot.com/