When you look at everything stacked against it, the growth and profitability of the "fast-casual", ethnic eatery Chipotle Mexican Grill is another great lesson in brand marketing success.
Facing an environment characterized by rising unemployment, fewer dining-out customers, high concentrations of competitive restaurants and aggressive meal discounting by lower-end chains, the fact that Chipotle sales grew at all in 2010 is surprising. That their net income grew by close to 40% is remarkable.
In an article recently published on BNET.com, author David Phillips notes that rather than follow the markdown pricing and constant menu rotation of promotion-driven restaurants, Chipotle made a conscious decision to focus on sustaining its distinct food quality and customer experience. Their plan was to deliver maximum value for the customer's dollar.
It's a brand promise they put into words and actions every day. Employees are taught to honor the company mission statement "Food With Integrity" which involves serving food with an eye toward sustainability, great taste and high nutrition. And customers have responded by increasing both visits and dollars spent per visit.
Outbound and in-store marketing communications are designed to entertain and educate, featuring information about natural ingredients, support for local growers, healthy diets and fresh, zesty flavor to give potential customers substantial reasons to expect a uniquely enjoyable experience every time they visit Chipotle.
A true example of positive brand development and profit margin protection, the article details the company's continuing efforts to communicate its unique value and give customers and potential customers a way to further engage the brand.
Read more about Chipotle's exceptional approach and the results in the full article.
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