Business Strategy

 

1. Describe the five forces for the industry that your company operates in and rate each as High, Medium or Low and explain your choice Is the industry profitable?(Nicole)

The five forces model is analyzed by the threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products, and rivalry among the existing firms. Jersey Mike’s would probably have a low to medium threat of new entrants, specifically when it has to do with sandwiches. Their closest competitor would be Subway, a business that also sells custom made sandwiches.This would fall under a medium rivalry among existing firms. However, their threat of substitutes would be a lot higher because there are a lot more options that can replace sandwiches in the fast food industry. Some of these substitutes include McDonald’s, Wendy’s, and Chick-Fil-A. Their bargaining power of suppliers and customers would operate at a medium level since their prices are not too expensive and it keeps customers coming back. The conclusion can be drawn that the industry is indeed profitable because people are always willing to try new foods, especially something that is made fast for those busy days. 

2.  What is the competitive strategy that Jersey Mike's follows?

• The competitive strategy that Jersey Mikes follows is having a better product /service within their respective industry segment based on Porter’s Four Competitive Strategies. Jersey Mikes product is generic but their attention to customer needs is unmatched and is what the company markets itself on as well as it’s investment into a younger target audiences by doing things like buying naming rights at Universities. According to the Five Forces of Hermes, Jersey Mike’s biggest threat is rivalry with companies like Subway. Jersey Mike’s address rivalries like this by investing more in its brand advertisements and partnership initiatives, aiming their product towards a younger audience and investing into the younger audience. 

 

3.  Describe the primary activities in the company value chain . What are some business processes ? (George)

• The primary activities in a company's value chain consist of inbound logistics, operations/manufacturing, outbound logistics, sales and marketing, and customer service. The Inbound logistics for Jersey Mikes is mainly sourced and supplied from local farms where their produce is grown, packed, and shipped to their stores. Operations/manufacturing for Jersey Mike’s consists of storing the fresh produce and meats that they get until they are ready to be sold to the customers. For the outbound logistics employees make the subs right in front of their customers and sell it directly to them as soon as they are done making it. Sales and marketing for Jersey Mike's they market to their customers by using commercials, Advertisements and their website to promote their new products. When it comes to Jersey Mike’s customer service there customers can contact them using their website, Phone number and even their social media pages for any issues they may have placing an order and a complaint they might have. 

4. What are some examples of information systems (IS) used by the company? (Emily) 

• The main information systems used by Jersey Mike's corporations are the kiosks where sales are authorized and made. Through the kiosk obtaining the organization of the money in the cash register is maintained. Additionally all in person orders are rung up through the kiosk in addition to all online ordering systems; such as Doordash, Uber eats and Grubhub. 

5.   (Zamiyah) 

• Jersey Mike’s has a reward program used to earn free subs.  Instead of waiting in line, customers can place an order in advance, and every time they do so, they receive points toward a free sub. Customers will stay committed to this program because they are aware that they will ultimately receive a complimentary sub. Furthermore, I believe it would be a sound strategy for Jersey Mike's to promote certain subs for 50% off once a week. Everyone enjoys a good deal, so that would certainly bring in a lot of new customers for the business.