Product-Market Analysis Of Shake Shack

Product-Market Analysis
Starting out as a small hotdog stand in Manhattan, NY in the summer of 2001, Shake Shack is now one of the world’s fastest growing burger joints in the country. This burger joint started out as a hotdog stand ran by Union Square Hospitality Group, a company of well-known restaurateur Danny Meyer. Originally, the hotdog stand occupied a small space in the park and was setup in front of a piece of art that was on display. At that time the stand only served hotdogs, but it did so well that Meyer decided to return the summer of 2002, and then again the summer of 2003. In 2004, Meyer secured a bid with the Madison Square Park Conservancy to fulfill their need of a restaurant in the park. Meyer's vision of a modern version

This company offers services that the standard burger joint or restaurant doesn’t, like pet treats and beer; and their wait time has cut-down tremendously. By adding features like the C-line (a line specific for customers buying cold items only) and a secret menu, the company is proving to be true competition for competitors. There are many factors that contribute to the success of Shake Shack, but most of their success is due to their customers and social media. Thanks to social media, Shake Shack does little-to-no advertising or promoting. The company’s growth is currently thriving on the word-of-mouth of their customers. Shake Shack has a huge presence on social media sites such as Facebook, Twitter and Instagram, and encourages customers to post, like and share. Even with thousands of followers, Shake Shack still thrives to provide excellent customer service both in-store and online and is “active and constant in publisher[ing] on these different platforms” (Fallah, Dotson, & Fallah, 2015). It turns out the younger generation (or millennials) has helped this company grow to be a success; being leaders in social media activities and traffic, millennials have increased Shake Shakes presence online beating competitors like McDonalds and KFC (Dua,