1.Identify and describe Potbelly’s strategy in terms of product (present or new) and market (present or new).
Potbelly’s strategy in terms of product is to offer all sandwiches at one price regardless of what comes on the sandwich. All of the meat is sliced fresh in the store, milkshakes are handmade, and cookies are freshly baked on site. The company hires nice people because they sell an experience, not just a sandwich. Potbelly is focused on selling good food, having a nice environment, and a friendly experience.
The store does not necessarily have a marketing budget. The generate promotions based off of store openings or around local charities/programs. At one location they gave away a free sandwich to each person who gave a cash donation for a local organization.
2. How would you describe Potbelly’s positioning strategy?
Potbelly has many different stores that range in many different sizes. Some stores are very small and based in airports, other stores are very large. Many stores have an outdoor patio area during warmer months. Potbelly selects mostly urban locations where there are not a lot of sandwich chains. The stores are homey and even provide real books for customers to read or borrow. The main market for Potbelly is young professionals under the age of 35.
3. What types of environmental opportunities and threats to you see in Potbelly’s external environment? How might they impact Potbelly’s current strategy?
I personally feel that Potbelly has a great thing going for them. Compared to other sandwich chains they are not the same in any way. Locally, the main stores that come to my head are Subway, Jimmy Johns, and Hungry Hobo. These stores are all based on very fast service. You are more than welcome to sit down and eat, but nothing really keeps you there besides the food. Potbelly offers an experience with each meal. Some locations have live music that you can enjoy or books that you can sit and read. You are offered more than just a table to eat at when you are at Potbelly’s; you are offered a complete experience.
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