Pret a Manger Research Paper
MARK 3460
Research Paper- Prêt a Manger
Session Number: L01
Professor: Ying Zhao
Date: 15/05/2013
Group 4
CHAN, Justin (10491398)
BABANI, Monica (09472983)
POON, Ying Sin (20015398)
TSANG, Erica (20042743)
TSE, Jonathan (10069688)
YEN, Joseph (09471264)
Executive summary
Prêt-A-Manger (also known as Prêt) was founded in 1986, with the aim of serving customers with quality food and exquisiteness. It is a well-known grab-and-go store offering a variety of freshly-made food like sandwiches and salad. The target customers are expatriate workers and white collar adults in the central business districts, who are attentive to their diets. This is in accordance with its positioning that Prêt provides premium healthy and quality food which is freshly made every day.
Prêt executes its good location strategy which makes it very successful in the food and beverages industry because it already has 323 stores worldwide, having £443 million turnover last year in UK. Although its turnover rate is high, it does not pay enough attention to new potential markets. Its target market is specific but is relatively narrow. Hence, it is recommended that in the short run, Prêt can attract more diversified groups of customers by reviewing the menu and in the long run, can consider doing sub-branding which the new outlets providing meals-to-tables services and a more relaxed setting. With the proposed recommendations, Prêt can expand its target markets into a broader segment which will help in increasing its sales.
Contents Executive summary 2 Structure of the Report 4 A little about Prêt 4 Target Customers of Prêt in Hong Kong 5 Needs of Target Customers 5 Positioning Strategy 5 SWOT Analysis 6 Good Strategy: Location & Store layout 7 Store layout 7 Characteristics of the Site 8 Characteristics of the trading area 9 Bad Strategy: Narrow Target Market 9 Recommendation 10 Benefits 12 Conclusion 12 Appendix 15 References 16
Research Paper- Prêt a Manger
Session Number: L01
Professor: Ying Zhao
Date: 15/05/2013
Group 4
CHAN, Justin (10491398)
BABANI, Monica (09472983)
POON, Ying Sin (20015398)
TSANG, Erica (20042743)
TSE, Jonathan (10069688)
YEN, Joseph (09471264)
Executive summary
Prêt-A-Manger (also known as Prêt) was founded in 1986, with the aim of serving customers with quality food and exquisiteness. It is a well-known grab-and-go store offering a variety of freshly-made food like sandwiches and salad. The target customers are expatriate workers and white collar adults in the central business districts, who are attentive to their diets. This is in accordance with its positioning that Prêt provides premium healthy and quality food which is freshly made every day.
Prêt executes its good location strategy which makes it very successful in the food and beverages industry because it already has 323 stores worldwide, having £443 million turnover last year in UK. Although its turnover rate is high, it does not pay enough attention to new potential markets. Its target market is specific but is relatively narrow. Hence, it is recommended that in the short run, Prêt can attract more diversified groups of customers by reviewing the menu and in the long run, can consider doing sub-branding which the new outlets providing meals-to-tables services and a more relaxed setting. With the proposed recommendations, Prêt can expand its target markets into a broader segment which will help in increasing its sales.
Contents Executive summary 2 Structure of the Report 4 A little about Prêt 4 Target Customers of Prêt in Hong Kong 5 Needs of Target Customers 5 Positioning Strategy 5 SWOT Analysis 6 Good Strategy: Location & Store layout 7 Store layout 7 Characteristics of the Site 8 Characteristics of the trading area 9 Bad Strategy: Narrow Target Market 9 Recommendation 10 Benefits 12 Conclusion 12 Appendix 15 References 16