Implementation Plan for Dunkin’

Implementation Plan for Dunkin’

Dunkin’ brand is known for its excellent coffee and baked products. It specializes in selling a specific brand of coffee both cold and hot. It has continued to grow in size as it is opening new restaurant in different state. Dunkin’s is, however, faced with a lot of challenges and is not growing as fast as the rest of the competitor’s fast food restaurant. Dunkin is working to ensure that they come up with good strategic plans that provide they continue growing in size. The paper will discuss the internal and external issues, the competitors and the future outlook of Dunkin’

Internal and external issues

The internal issue at Dinkins is how to continue expanding by opening a new store in new areas. Dunkin wants to open new fast-food restaurants in the new market through franchising to cover a larger market. I t also intends to start selling healthier food to customers. One of the untapped areas is providing food that adds nutritional benefits to the body (Hansen, 2015). It is a demand from customers, and Dunkin intends to implement it. The other is on serving other types of food other than baked goods and services. Dunkin is normally busy during the morning hours, but in the evening, a very low percentage of people order coffee and baked goods. Dunkin intends to fill this gap by introducing new menus that will help increase the number of customers. The external issue at Dunkin is the shortage of raw material caused by drought. The raw materials used in Dunkin are from the farm, in case of any climate change, it experiences lack. The shortage of raw materials like coffee leads to an increase in the price of the product. When there is an increase in price in Dunkin’, but the competitor’s price remains the same, it loses some of its customers. Dunkin should Implement the strategy of having a stable supply form different suppliers in different parts of the world.

Competition

Dunkin has continued for a long time to face a lot of competition from Starbuck and small, fast food restaurants. Starbucks is very competitive because of its wide coverage and fast growth rate. Dunkin should implement new strategies like convinces to be able to service customers with the best coffee and baked goods as fast as possible (Zhu,2016). It can implement this by buying supplies in bulk at a lower rate to avoid shortage and to produce quality goods. Dunkin will continue to be very competitive due to the uniqueness of the products and its convenient locations. The other strategy that Dunkin should use over its competitor is the introduction of the new menu. Dunkin will grow its number of customers by changing its menu from just making coffee and baked goods. More people will order for food, and because of brand recognition and good services, it will continue to have an added advantage over its competitors. Dunkin should also maximize its strength to give it an added advantage over its competitor. Dunkin faces competition from small, fast food restaurants that sell almost the same products. Dunkin should take advantage of its brand name to attract more customers.

The future outlook for Dunkin

Dunkin intents to increase its net revenue by adding approximately 1000 net new Dunkin donuts. 90% of the addiction is expected to be built outside the northeast region. It intends to achieve this growth by menu innovation. Menu innovation entails the removal of artificial dyne from donuts, new beverages, and value offers (Zhu, 2016). It also intends to provide unparalleled convenience by providing fast services and innovation of a drive-through technology. It also intends to incorporate the broad accessibility of its products by providing consumer Packaged goods. In the future, it also intends to incorporate an excellent restaurant by an OTG mobile ordering platform. Dunkin’ wants to provide the best services by allowing its customers to order food online to reduce the time taken waiting for an order. Dunkin entails to expand in size and provide quality services to the consumers of its products.

Implementation of tools for measuring business success

Dunkin must measure its success to be able to evaluate its level of growth. It can measure its success by interviewing the customer through the Dunkin app. The customers can give feedback on complaining about compliment and rate services and products. Through the collection and analysis of customers’ comments, Dunkin’ will be able to measure its success. Secondly, it can also use an evaluation of the business’s financial position. It is done by evaluating and comparing different financial states to measure the rate of success. Lastly, the other tool for measuring success is the observation of customers increases. By observing the increase in the number of customers and positive reviews from customers, it can be used to measure success. Dunkin should implement the tolls to ensure it can measure its level of success.