Ponderosa Steakhouse and Bonanza Steakhouse SWOT Analysis, USP & Competitors

Posted in Food & Beverages, Total Reads: 889
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SWOT Analysis of Ponderosa Steakhouse and Bonanza Steakhouse with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Ponderosa Steakhouse and Bonanza Steakhouse

Parent Company

Home style Dining LLC

Category

Restaurant

Sector

Food and Beverages

Tagline/ Slogan

-

USP

It is known for its steaks & seafood

STP

Segment

Food and beverage restaurant chains

Target Group

Youth and adults from middle income group

Positioning

Offers the spirit of the Old West and honest-to-goodness value

SWOT Analysis

Strengths

1. It has an expansive Buffet featuring a variety of dishes
2. Offers Gift cards, group dining, coupons etc
3. It has a proprietary steak sauce recipe.
4. Over 220+ locations since 1965

5. It is counted in one of America's leading budget steak house chains

6. Cafeteria-style service keeps labor costs low, and the use of lower-grade meat tenderized with enzymes helped keep food costs low

7. It has a quality, service, and cleanliness program" (QSC) under which each restaurant is analyzed and employee feedback is sought in order to ensure efficient operations

Weaknesses

1.  It has failed to update its brand or menu options leading to shut down of certain locations
2. In 2008, the parent company, Metromedia Steakhouses Co., filed for bankruptcy leading to disappearing of many outlets

Opportunities

1. Actively pressing into new markets is necessary to keep these restaurants growing
2. Diversifying its menu options
3. Looking at healthier food items

4. Sustainable business for growth

Threats

1. Like many casual dining franchises, the recession hurts steakhouses' bottom line

2. Multiple players in this segment

3. Growing vegetarian population can reduce sales

Competition

Competitors

1. Fleming's Prime Steakhouse & Wine Bar
2. Quaker Steak & Lube
3. Hoss's Steak and Seahouse


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