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Be Competitive or Perish
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Competition is fierce for the food-away-from-home
dollar. It's a 24 hour a day, 365 day a year battle for a
share of the consumer's stomach and a piece of the
multi-billion dollars spent each year for convenient,
grab-and-go, take-out foods. Who is your competition --
everyone and anyone who sells food. The traditional
distinction between foodservice providers, manufacturers and
retailers is disappearing. The lines of demarcation are
blurring. Who's selling what, to whom and how is in constant
flux.
Prepared foods are being sold from restaurants,
supermarkets, specialty food shops, wholesale clubs,
drugstores, health clubs, bookstores, convenience stores,
airports, train stations, gas stations, department stores,
discount stores, malls, sports arenas -- the list is endless.
And it's being sold ready-to-eat, ready-to- heat,
ready-to-cook or prepared from express stations, kiosks,
service cases, self-service cases, cafes, food and beverage
bars, drive-thrus, catalogs, the internet and personal home
chefs. The competition is everywhere.
Driven by busy lifestyles, lack of
knowledge or desire to cook and the time pressures of a fast
paced economy, today's consumers are demanding fresh prepared
foods that are convenient to eat, delicious to taste, priced
for value, and quick to purchase. The challenge for retailers,
foodservice operators and manufacturers is to meet these needs
while establishing customer loyalty, distinct product
positioning and bottom-line profits. And to provide these
products in a friendly, courteous and entertaining environment
and do it better than their competition.
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Research Your Competition, Market and
Food |
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So if you haven't already done it, now is the time to do it. Get
to know everything you possibly can about your competition - who you
think they are and who your customers think they are. Whether you're
just starting out with one idea, product or location or you've got a
business portfolio of multiple concepts, products, programs and
sales locations, examine your competition. Examine your local,
regional, national, and international trading areas - current and
potentially in the future.
Whether you are a foodservice operator, retailer or
manufacturer, you've got to stay on top of all the changes,
innovations, trends and new competition in the food industry. That
means attending workshops, trade shows, reading trade magazines,
surfing the internet, reading what your customers read and making a
continuous investment in your education and learning experiences.
Having the right information can make the difference in your
business.
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Witness the Food Experience From Your
Customer's Viewpoint
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Next, research your competition and your customer
market. Go where your consumers go - where they shop and eat.
Witness the food experience through their senses - what they see,
taste, smell, hear and touch. Walk and ride through their
neighborhoods -- where they live, work, and play. Stop and visit
every place you can where food is being sold and feel the food
experience. Observe your customers in person instead of relying
solely on marketing data.
And while you are there, take the time to observe
what's going on around you. Sample some of the food (eat some there
and take some home), watch the customers, ask some questions,
observe the operations, collect printed brochures and menus, take a
few pictures if you can, and take notes, lots of notes so you will
remember. Then you've got to evaluate and analyze your
results.
But don't stop with your local area, get out and
see what's going on in other cities, states, regions, and
countries. Today's consumers are experiencing new taste sensations and new
food experiences. They are traveling to different kinds of places and
to different parts of the world. They are taking those experiences
and bringing them back home, sharing them with family and friends.
Why not take the lead with a new trend instead of rushing to catch
up with your competition?
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Points to
Consider |
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Each time you
visit a new place or try a new product, try asking yourself the
following 10 questions:
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Each time you finish
researching, analyzing, and evaluating one of your competitors, go
back and review your own products, programs, operations, and
locations and see how you compare. The economy, the customer, the
trends and the competition are continuously changing. You've got to
stay up-to-date and ahead of the competition. You've got to be
competitive or perish.
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