Ruby Tuesday Inc. provides both physical good and services because it’s in the restaurant business. The type of product they produce is both physical goods and service, and according to Basic Marketing textbook, product is described “as potential customer satisfaction or benefits” (pg. 199). How they delivered their product was through branding, packaging, target markets, and product positioning.
Branding
According to the Annual Report 2014, Ruby Tuesday, Inc. is the official trademark that is protected by the United States Patent and Trademark Office. Therefore, Ruby Tuesday, Inc. is licensed “to use all such trade and service marks from our affiliates, including the right to sub-license the related trade and service mark” (p. 8), such as Ruby Tuesday and Lime Fresh Mexican Grill.
The brand is transforming to be “more energetic, affordable, and broadly appealing” (Annual Report, 2014, p. 26) to various customers by improving the “menu, service, atmosphere, and communication” (Annual Report, 2014, p. 5). With “innovation and
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By adding “new music soundscapes and lighting” (Annual Report, 2014, p. 5) with a “strong restaurant-level teams [that] focus on high performance standards, advanced training, and a rigorous selection process in order to focus on high quality food and service” (Annual Report, 2014, p. 5), creates “a fun and energetic” (Annual Report, 2014, p. 5) feeling to the place. However, in order for the customers to understand the ambience, Ruby Tuesday Inc. communicated to customers by advertising. Before newspapers, mails, emails, and coupons were used to grab the customers’ attention. But it wasn’t enough for customers to understand the brand concept of “a more casual, energetic, and approachable…dining experience” (Annual Report 2014, p. 5). So, Ruby Tuesday started communicating to customers through television commercials, so they can have a valuable understanding of the brand.
By upgrading their brand, it will help to identify the qualities of the products that set it apart from the competition. They have to make the
One way they are accomplishing this is by providing current products, reformulating those that are not meeting this vision and mission, and introducing new products that meet the demand; all of which are cost effective for every lifestyle and financial circumstance this based on a tier vision of Good, Better, Best. It also speaks volumes because this vision is also imparted upon its employees by investing, encouraging, and supporting healthier
During week two, Learning Team B will take a thorough look at the Olive Garden Italian Restaurant chain. Team B has decided that a new appetizer item should be added to the restaurant menu. The appetizer item being considered is cheese filled breadsticks served with Marinara sauce. The team will begin this marketing plan by giving an overview of the Olive Garden Restaurant, along with a detailed description of the new menu item being considered. They will also explain why marketing plays an important role in the restaurants success. A SWOTT analysis will be given to introduce all the strengths, weaknesses, opportunities, threats, and trends that should be considered prior to
The company’s purpose is to “provide branded products and services of superior quality and value that improve the lives of the world’s consumers now and for generations to come. As a result, consumers will reward us with leadership sales, profit and value creations, allowing our people, our
“To give our customers the best food and beverage values that they can find anywhere and to provide them with the information required for informed buying decisions. We provide these with a dedication to the highest quality of customer satisfaction delivered with a sense of warmth, friendliness, fun, individual pride, and company spirit” (Crafting and Executing Strategy: Concepts and Readings, 2016, p. 24).
After carefully analyzing the different alternatives, the best course of action is to continue to compete effectively on differentiation based on quality and sustainability given the mounting competitive and sourcing challenges. Even thought Taco Bell’s new menu seems like a significant threat they are far from creating the same value and reputation Chipotle has created since it opened its first restaurant in 1993. Not only does Chipotle provide the freshest and best ingredients with a bold flavor, they are setting themselves apart from any other restaurant chain and main competitor since they
By 2010, Panera Bread Company (PBC) stood ahead of the crowd; once a pioneer in the fast casual concept of dining, the organization has now far surpassed its competition (Vincelette & Fogarty, 2010). Enduring economic challenges that only strengthened the organizations position as industry leaders while competitors struggled to exist, Panera’s co-founder and majority shareholder Ronald Shaich pushed through the years with strategic plans, implementation, and actions (Wheelen, Hunger, Hoffman, & Bamford, 2015), that led to success in creation of the “fast-casual” innovation of dining (Vincelette & Fogarty, 2010). The concept offered consumers healthier, quick dining choices in comparison to the outdated version of fast food chains (Vincelette & Fogarty, 2010). Food wasn’t the only attraction that led to brand name recognition...trends towards an atmosphere that was cool and inviting with upscale decor, inviting, comfortable atmosphere (Vincelette & Fogarty, 2010), warm and friendly welcoming employees, and product and menu diversifications contributed to Panera’s appeal (Rowe, 2006). This made consumers wanting to come back (Vincelette & Fogarty, 2010), therefore adding to the quality and value of the company’s organizational structure and social culture (Wheelen, et al, 2015). Shaich’s vision used strategy as a means to expand the organization in many
Given the changes in Red Lobster’s strategy over the past few years and the surprising ability to attract new, “experiential” customers, it our recommendation that they modify their strategy to focus on pursuing this type of clientele. We will go into further detail momentarily; however, the reason for focusing on the experiential customer group is that Red Lobster has the opportunity to increase revenue and net operating income at each restaurant by 20% or more. Granted, these are enormous gains and it will take a few years to realize their full potential, but for the reasons laid out below, we believe these gains are a realistic possibility.
The brand seeks great opportunity to further develop the business, enhance product design as well as company’s brand image.
In order to optimize THS shareholder value we will become the recognized leader in private label, customer brands and customer products. Grow tall via product innovation, consumer insight, customer partnerships and strategic acquisitions. Grow strong through strategic vision, operational excellence, structural consolidation and collaborative teamwork. Build competitive advantage
In the ever-evolving world of manufacturing and marketing, companies are required to adapt to maintain relevancy or remain competitive. Adaptation techniques in business includes inventing a completely new product, revolutionizing an already existing product, or merging with an existing powerhouse company to extend the reach of one’s services and/or products to a larger customer based globally or domestically. Kohl’s has stood the test of time for over 70 years and has maintained relevancy with its customers by consistently reinventing itself to keep up with the needs of the consumers.
The Papa John’s case provides a classic example of a company that entered a highly saturated and mature market and was able to enjoy immense growth and success due to its creative product differentiation strategy. The company’s motto has been consistent from the day the first restaurant was opened: Superior ingredients and a superior product from its competitors. John Schnatter took the basic concept of product differentiation and positioning to new heights as he created a strong global brand, which had an unprecedented track record of success and customer loyalty over its competitor’s pizza products.
The company offers a modern and cool lifestyle, coined by their motto “for successful living”.
The company has also been accredited for having maintained a high degree of diversity coupled by its ability to maintain top quality in the standards of its products. Not only has the company retained a good reputation with its clients but also maintained an excellent corporate responsibility track record. This has built the public trust in the brand and is proud to be associated with it. To the wonder of many, the company has year over year continued to yield profits way over its competitors. To maintain such a success has been pre-determined by the way it has a strict, slow growth policy which ensures that it dominates a market before moving on to dominate another market, and despite the slow nature, the company has now emerged to be one of the fastest growing companies in the United States.
Belch and Belch (2001) stated that the ultimate goal of an organization is to create brand loyalty, which in return, ensures continued patronage. Pepsi Cola is one of the world’s most popular drinks holding about 29.3% of the entire fizzy drinks market (Esterel, 2011). Pepsi cola is a brand known for reinventing itself with its various logo changes. These rebranding campaigns have been strategically positioned to keep the Pepsi brand relevant within its target audience, the youth. Pepsi still desires to be perceived as trendy, and appealing to the younger generation. The rebranding campaigns are meant to appeal to the forth-coming generation and eventually create brand loyalty. Pepsi have adopted a brand campaign set to distinguish them from other brands. They present the brand as a contemporary product as opposed to a classic relic and thus they grab the attention of the youth. It is therefore very important to understand the loyalty consumers have towards a “brand” that has undergone several changes that include facelifts and general rebranding. It should however be noted that any one of these evolutionary trends will always have consequences. It would be interesting to unravel how much of a success Pepsi has achieved over the years especially with its most recent rebranding