The
competitive landscape of the restaurant industry is broken into different segments
which are based on the type of dining the restaurant involved in as well as
price. Fine dining is the most expensive of the landscapes, and the meals are
valued at $35 dollars and up. Restaurants that are categorized in this
landscape include Ruth Chris Steak House and The Capital Grille (TM Capital. page
5, 2010). The next landscape is the upscale-casual restaurants. In order to be
part of this landscape, the value of the dining will be around $18 to $35. This
part of the industry includes restaurants such as Cheesecake Factory, Outback
Steak House, and Darden Restaurants (TM Capital, page 5, 2010). Casual dining
is another landscape involved in this industry. In order to be part of this
landscape, the value of the meal is priced between $12 to $18 and restaurants
classified as casual dining include Panera Bread and Red Robin (TM Capital,
page 5, 2010). Another landscape for the restaurant industry is family dining.
This landscape is usually priced from $8 to $12. Some of the prominent
restaurants involved in with this landscape are Denny’s and Cracker Barrel (TM
Capital, page 5, 2010). The final landscape is the quick service restaurants.
There is no specific pricing for the value of the meal, but this is usually
cheap fast food. This will include restaurants such as McDonalds and Domino’s
Pizza.
My
company, Starbucks, fits into the landscape of quick service restaurants. Their
main competitors include Dunkin Donuts and McDonalds. Because Starbucks is
primarily involved with premium coffee they do not have to compete with other
fast casual restaurants such as Chipotle. McDonalds, however, has become the biggest threat to
Starbucks’s sales. Starbucks has to compete with McDonalds’ McCafe which is a
low cost alternative. (Cardenal October 23 2012). Starbucks still controls 60%
of the value share in specialist coffee shops showing that they still dominate
this area of the quick service restaurant landscape.
Cited Sources:
TM Capital (February 2011). Restaurant Industry Spotlight/ Retrieved from http://www.tmcapital.com/assets/11_2.pdf
Andres Cardenal (October 23, 2012). This Powerful Brand Looks Temptingly Cheap. Retrieved
from http://beta.fool.com/acardenal/2012/10/23/powerful-brand-looks-temptingly-cheap/15086/
Amy Schein (Not Available). Starbucks Corporation. Retrieved from http://subscriber.hoovers.com/H/company360/competitiveLandscape.html?companyId=15745000000000
Passport (September 2012). Starbucks Corp In Consumer Foodservice (USA). Retrieved from http://www.portal.euromonitor.com/Portal/Handlers/accessPDF.ashx?c=23%5CPDF%5C&f=F-214140-22060423.pdf&code=Se0Bvf8sXUG8z3C%2bmmTdEgHSZas%3d
I really like the information about real barriers between the different types of restaurants. Sometimes I feel like it can be confusing when trying to compare and contrast different kinds of restaurants. How much do you think that restaurants in different price/type of dining segments still compete with each other?
ReplyDeleteI find it to be extremely interesting that Starbucks is considered to be a quick service restaurant because they place such emphasis on high quality products and quick service restaurants have been known to be lacking in this area. I suppose that this is just a main characteristic that sets Starbucks apart from its competitors. It could even be looked at as a major step that changes people's opinion of the product quality in that landscape.
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