Should Miller change prices at The WORKS? Why or why not? What pricing strategies are currently used?
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Should Miller change prices at The WORKS? Why or why not? What pricing strategies are currently used?
(2) In which market (quick service, fast casual, full service)does The WORKS compete and who are its key competitors? Look at this from the perspective of both the company and the customers.
(3) What value does The WORKS provide its customers? In what ways is it superior or inferior to its competitors?
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The WORKS Gourmet Burger Bistro Eric Dolansky, Brock University Bruce Miller, The WORKS Gourmet Burger Bistro In early October 2014, Bruce Miller, co-owner of The WORKS Gourmet Burger Bistro, was evaluating his marketing decisions planned for 2015. Four years earlier, Miller and two colleagues bought the restaurant chain and had since expanded it from five locations to twenty-six, posting 50% year-over-year growth. The WORKS was the fastest growing full service restaurant in Canada in 2013 through the use of new tactics with respect to product development, advertising, and promotions. "The one area I haven't really changed was pricing,” said Miller. The WORKS was seeing record- breaking increases in their costs, due to the rising cost of beef and pork. "Meat costs have been going up about 25% per year for the past couple of years," Miller claimed. "I'm going to have to do something about pricing to make up for it, but I'm not sure, at this point, what I will do and how I will do it." Miller intended to have a new menu, with new prices, out by March 2015. BRUCE MILLER AND THE WORKS The WORKS, founded by Ion Aimers in Ottawa, Ontario, Canada in 2001, was considered one of the first “gourmet” burger restaurants in Ontario. Miller proudly said that “we use fresh 100% Canadian beef, serve great Canadian beer and wine, have had seven different patty options and most of all have an endless variety of topping combinations." More than fifty different burger options were available, from the conservative “Ho-Hum #2” (a burger with cheese and bacon) to the “Sexy Burger" (sweet and spicy sauce, pineapple, cream cheese, and banana peppers). Other burgers were topped with macaroni and cheese and peanut butter. In addition to the many burgers offered, the restaurant also had salads, hand-scooped milkshakes, fresh-cut fries, and ice cold beer. In 2011, partners Andy O'Brien (CEO), Bruce Miller (CMO), and Sean Bell (CFO) founded Fresh Brands, Inc., with a goal of finding a regional restaurant brand for national expansion. They identified The WORKS as an ideal target and bought the chain from Aimers. The new business was headquartered in Oakville, Ontario (a suburb of Toronto). An expansion goal was set of opening 20 to 30 WORKS locations across Ontario within five years. While the existing WORKS locations in Ottawa were company owned, the new owners implemented a franchise model for the burger restaurant. They had no intention of changing the core value proposition of fresh, tasty food, industrial décor, and full service. The WORKS Gourmet Burger Bistro Eric Dolansky, Brock University Bruce Miller, The WORKS Gourmet Burger Bistro In early October 2014, Bruce Miller, co-owner of The WORKS Gourmet Burger Bistro, was evaluating his marketing decisions planned for 2015. Four years earlier, Miller and two colleagues bought the restaurant chain and had since expanded it from five locations to twenty-six, posting 50% year-over-year growth. The WORKS was the fastest growing full service restaurant in Canada in 2013 through the use of new tactics with respect to product development, advertising, and promotions. "The one area I haven't really changed was pricing,” said Miller. The WORKS was seeing record- breaking increases in their costs, due to the rising cost of beef and pork. "Meat costs have been going up about 25% per year for the past couple of years," Miller claimed. "I'm going to have to do something about pricing to make up for it, but I'm not sure, at this point, what I will do and how I will do it." Miller intended to have a new menu, with new prices, out by March 2015. BRUCE MILLER AND THE WORKS The WORKS, founded by Ion Aimers in Ottawa, Ontario, Canada in 2001, was considered one of the first “gourmet” burger restaurants in Ontario. Miller proudly said that “we use fresh 100% Canadian beef, serve great Canadian beer and wine, have had seven different patty options and most of all have an endless variety of topping combinations." More than fifty different burger options were available, from the conservative “Ho-Hum #2” (a burger with cheese and bacon) to the “Sexy Burger" (sweet and spicy sauce, pineapple, cream cheese, and banana peppers). Other burgers were topped with macaroni and cheese and peanut butter. In addition to the many burgers offered, the restaurant also had salads, hand-scooped milkshakes, fresh-cut fries, and ice cold beer. In 2011, partners Andy O'Brien (CEO), Bruce Miller (CMO), and Sean Bell (CFO) founded Fresh Brands, Inc., with a goal of finding a regional restaurant brand for national expansion. They identified The WORKS as an ideal target and bought the chain from Aimers. The new business was headquartered in Oakville, Ontario (a suburb of Toronto). An expansion goal was set of opening 20 to 30 WORKS locations across Ontario within five years. While the existing WORKS locations in Ottawa were company owned, the new owners implemented a franchise model for the burger restaurant. They had no intention of changing the core value proposition of fresh, tasty food, industrial décor, and full service.
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Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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