Paper Example on Company Analysis: Wendy's Customers, Collaborators, Competitors

Introduction

Wendy's is a fast-food restaurant chain based in America; which was founded in 1969, Columbus, Ohio. Dave Thomas was its founder, as he was at the forefront of its establishment at that time. He organized the various resources that were used to establish the chain from scratch. At that time, the fast-food restaurant chain was famous because of its fresh square beef patties and iconic deserts. In 1974, it changed its operations and incorporated a drive-through; which was referred to as a pick-up window. That was meant to serve the customers faster and better. Later in 1975, it opened up operations in Canada and went public than in 1976. Over time, it expanded its scale of operations and opened up multiple branches, by 19778, it had opened its 1000th restaurant and the 2000th in 1980. Later in 1981, because of the overall growth that it had achieved, it registered on the New York stock exchange.

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CompanyThe establishment continued to expand its scale of operations and in 1985; it celebrated the opening of its 3000th branch. Consistent with its growth, it engaged in corporate social responsibility; where the Thomas foundation for adoption was established. That was an undertaking most large corporations undertook to give back to society. Later, Wendy's 3Tour Challenge was created; which was meant to support the foundation established earlier. Furthermore, in 1992, the 4000th branch was established at the same time, and later in 1997, the 5000th branch was opened. The 6000th establishment was established in 2001, and in 2002, the founder, Dave Thomas died after overseeing the success of his venture. Over time, the company has continued to grow by opening up to various new opportunities that it notices (Thies, 2009). For example, in 2012, because of information technology, it established a mobile phone application to help its customers get services. Later, was the rebranding; which was for enhancing its outlook and increase its competitiveness.

As the restaurant chain grew, it went through various improvements in its menu. It added multiple types of food; to increase the level of satisfaction that its customers enjoyed. There were more varieties, and health consciousness became a significant issue. Moreover, there was the addition of product lines for different types of customers. For example, some products are targeting children; which was not the case when the chain was started. The chain operates based on Dave Thomas' legacy; which was based on continuous improvements; meant for the better satisfaction of the customers that they served. That is why there are more branches, and the menu keeps being modified to fit the consumer preferences at a given time. For example, in 2019, it created the made to crave cuisine; which was meant to enhance the satisfaction of customers through better foodstuff being served. Its influence on people made it to win the Cannes Lion Social & Influencer Grand Prix. Thus, it is evident that Wendy's has a rich history which stretches across decades of continuous improvements. At the moment, it is a great brand, because of the corporate culture that it continues to embrace through its operations.

Various products are sold at Wendy's, which can be seen from its menu. The meals range from simple fast-food meals to beverages. The foods include croissants, fries, Hot Stuffed Baked Potatoes, burgers, salads, sandwiches and a variety of drinks. The foods are sold either individually or as a combo; which is in terms of offers. There are various ways through which an individual can place their orders. First, one can do it by visiting the establishment and placing an order which will be served immediately. The other option is placing an order for foods online; that is where the person places an order using an application and the food is taken to them through the transportation service offered by the company. Those are the primary foods that the company provides as part of its operating activities. Those are the determinants of the revenue that is received by the multiple establishments that operate under Wendy's brand. From the financial statements that are published by the company, one can see the sales that are achieved. That can reflect the growth or decline in sales; which demonstrates the success or failure of the organization.

For example, in the financial year ended 2019, it had a revenue of $1, 109, 002, 000, while in 2018 it had $ 1, 589, 936, 000 and 2017 was $1, 223, 408, 000. Thus, from the cash flows, it is evident that there is an increasing trend in the income earned by the organization; which shows an increase in the activity (Wendy's, 2019). That can be credited to the rise in the demand by customers across the various lines of products that sold. That is because when trend analysis is conducted; there will be an increase over time. Thus, it is right to say there is always an increase in the demand for the foodstuff sold. The same can be deduced from the profit figures that can be seen from the annual financial statements that the company publicizes. That shows an organization that is growing over time; which is because of increased operating activities. The improvement in the operating activities is also reflected in the earnings by shareholders. They earn increasing amounts of earnings per shareholder; which is a significant growth indicator for the organization.

The success of the company is based on its customers' loyalty. The company is famous for offering its customers fresh food; even when it means going the extra mile. That is expressed o their website, as well as the opinions by various loyal customers. The company creates opportunity and joy through food; that is reflected by the offers they have on their menu. Customer satisfaction is at the centre of their operations; where they are committed to the production of food that is consistent with the preferences of their customers (Wendy's, n.d). In the long run, it enhances their satisfaction, builds loyalty, and the company succeeds on that basis. Concerning the future at Wendy's, new market expansion and development in the existing ones is their goal (Wendy's, n.d). That is why they always undertake various adjustments to their production and open up in multiple locations when a favorable feasibility analysis is conducted. Based on that strategy, the company has been capable of opening up in various places. By sticking to their corporate culture and being committed to customer satisfaction, they have always enjoyed a great deal of success; seen through their annual financial statements. Furthermore, their annual reports reflect the degree of success that is achieved through the satisfaction of the preferences by their stakeholders and customers.

Customers

At the heart of the success story at Wendy's, the customers play a central role. That is because they are the clients that the organization serves. Thus, most of the key performance indicators are based on how they serve their customers through service quality. The customers that are served by Wendy's have a wide range of characteristics concerning their demographics. That is because of the excellent service that they are treated to. The food is excellent; hence the company attracts very many customers; who are loyal to the brand. The customers are from all ages, because of the convenience that the company promises through the foodstuff it serves. Furthermore, household consumption and level of income are highly varied. That is because the company attracts both people with high income, as well as low-income earners. That is because their prices are fair, and the quality of food is excellent. That attracts all types of consumers to its establishment in the long run. The other characteristic that the consumers can be identified with is the psychographics; where their attitude towards the brand and product is highlighted. Based on market surveys; and demand schedules experienced at the company, it is evident that there is a great deal of consumer loyalty in the commodities that are produced at the establishment. That is because of the ever-growing demand; which is reflected through earnings and growth in the number of branches. From the historical analysis of the food offered by the company, it is evident that there have been various adjustments to its menu. There is the addition of more foods; which is meant to enhance the level of satisfaction among the clients served. Hence, there has been an increase in the number of customers that try the brand. Therefore, it is evident that the attitude of customers towards the brand is positive. That is the reason why there is an increase in the number of customers that are satisfactorily served over time. The other factor that determines the attitude that the customers have towards the business is the brand power that Wendy's is associated with.

Although other brands compete for the same clients, it has established itself as a favourite among a fair share of the market. That is attributed to various factors. Majorly is the innovative nature that the company designs its products. Throughout its history, it has been associated with coming up with meal types that are consistent with the needs of their customers. For example, there is a trend where various people need healthy option added to the menu. That has been adopted by the company; hence the healthy conscious members of the society feel their needs addressed. Over time, that contributes towards the great attitude that the customers have towards the brand. Furthermore, their customer relationship management undertaking is to be commended. That is because they undertake activities that are meant to strengthen the relationship that exists between them and the customers they serve in their various branches. Thus, that becomes part of their corporate culture, which shapes a favourable attitude among their customers.

Various activities are undertaken by Wendy's to retain the customers that they get through their operating activities. One of them is customer relationship management. That is whereby the company engages its customers so that it can gauge the level of satisfaction that they get from the consumption of their products. That is done in various ways. Majorly, it is through social media and the application that they developed to link them with customers. They ask for customer reviews and feedback regarding the quality of service they have offered. On that basis, they undertake the development of their systems to suit the overall customer opinion. That has enabled them to stay on the same page with the various customers that they serve in the multiple markets they venture. Moreover, excellent customer service at their establishments is an added dimension of customer relationship management. Their staff treats the customers respectably; which improves the quality of the relationship with them in the long run.

The welfare of the customers is well taken care of, all because of the organizational culture that has been created, and cultivated in the company over a long time. The culture is aimed at making sure the customers have their welfare taken care of in the best way possible. That is because of the building blocks on which the culture is based. First and foremost, it is people-centred; where the people interacting with the organization are a priority. In this case, the employees are treated well; which motivates the...