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Target Market For Denny's

408 Words2 Pages

Denny’s restaurant is an extremely recognizable diner. Furthermore, the operation was opened in 1953, by Harold Butler and Richard Jezak, as a 24 hour a day 7 days a week donut shop named Danny’s Donuts (About Us – Denny’s, n.d.). It was renamed Denny’s in 1961, and today has 1,700 restaurants worldwide (About Us…, n.d.). I chose Denny’s as a struggling restaurant chain, since it was identified as the number one candidate for American restaurant chain in danger of going bankrupt (Which American Restaurant Chains Might Go Under, 2011). Additionally, the results were based on the company’s Z-score, which is “a formula that measures a company’s financial health through factors such as working capital, total assets, total liabilities, market capitalization, sales, retained earnings and earnings before interest and taxes” (Which American…, 2011). …show more content…

In my opinion, the trend of families eating away from home for most meals has led to a huge influx of new restaurant offering breakfast all day, which in turn caused sales to the 62 year old restaurant chain to decline. Indeed, families and senior citizens have many more dining options today than ever before.

A product’s life cycle has four stages, which are comprised of the introduction stage, the growth stage, the maturity stage, and the decline stage (Editorial Board, 2014, p. 212). Specifically, Denny’s is in the decline stage of the product life cycle in which strengthening the brand’s image and preserving customer loyalty are extremely significant to the success of the organization (Editorial Board, 2014, p. 212). To halt further decline of the brand, Denny’s should try attracting additional target markets to increase their customer base and

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