Greggs Swot Analysis
1. Explain the benefits to Greggs plc of its vision and values. (8)
One advantage to Greggs of the vision and values it holds is the ability to attract customers due to its focused approach. “to be the number one for sandwiches and savouries...” is Greggs’ vision and this translates well through to all stakeholders. Customers are promised “a wide range of great tasting food made with quality ingredients.” This quickly helps customers to accept that the low price afforded to them does not reflect low quality. Therefore, customers are more likely to buy from Greggs as the combination of low price and high quality is their stakeholder objective. This means that Greggs should be able to build a vast customer base with many loyal customers which will improve cash inflow for Greggs.
Another advantage that Greggs can gain is low levels of staff turnover and higher levels of motivation, this is because Greggs aims “to provide a great place to work, where our people are valued and looked after” Employees main cause for concern in work is not having meaningful work to do and being treated …show more content…
If a firm has a product or service which customers begin to demand more of, then growth will inevitably follow. This means the company knows exactly why customers are so pleased with the business and so know how exactly to approach the opening of a new store. For example, Greggs know that the reason they are so popular is because of providing cheap, good quality, British food. This means that Greggs do not constantly have to second guess customers, but instead they know specifically that what they are providing is specifically what is wanted. This ensures success when opening new stores and expanding into new areas, this success means revenue will increase for Greggs which could potentially contribute to further expansion in the
One advantage to Greggs of the vision and values it holds is the ability to attract customers due to its focused approach. “to be the number one for sandwiches and savouries...” is Greggs’ vision and this translates well through to all stakeholders. Customers are promised “a wide range of great tasting food made with quality ingredients.” This quickly helps customers to accept that the low price afforded to them does not reflect low quality. Therefore, customers are more likely to buy from Greggs as the combination of low price and high quality is their stakeholder objective. This means that Greggs should be able to build a vast customer base with many loyal customers which will improve cash inflow for Greggs.
Another advantage that Greggs can gain is low levels of staff turnover and higher levels of motivation, this is because Greggs aims “to provide a great place to work, where our people are valued and looked after” Employees main cause for concern in work is not having meaningful work to do and being treated …show more content…
If a firm has a product or service which customers begin to demand more of, then growth will inevitably follow. This means the company knows exactly why customers are so pleased with the business and so know how exactly to approach the opening of a new store. For example, Greggs know that the reason they are so popular is because of providing cheap, good quality, British food. This means that Greggs do not constantly have to second guess customers, but instead they know specifically that what they are providing is specifically what is wanted. This ensures success when opening new stores and expanding into new areas, this success means revenue will increase for Greggs which could potentially contribute to further expansion in the