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Strategic Plan: Dunkin’ Donuts LLC

Student Name

American Public University

BUSN620: Strategic Management

Instructor Name

Date

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Executive Summary

Dunkin’s strategic plan plays a pivotal role in guiding the company's strategic management

efforts, steering it toward the pinnacle of success as a leading omni-channel retailer. This

comprehensive plan encompasses the company's rich history, diverse range of products,

operational strategies, vision, mission statement, corporate values and culture. Additionally, it

delves into a detailed analysis of the company's strengths, weaknesses, opportunities, and threats

(SWOT), evaluates the competitive landscape, introduces the management and leadership team,

provides insights into the financial outlook, and outlines strategic initiatives. In the aftermath of

the COVID-19 pandemic, Dunkin’ epitomizes resilience, leveraging its strategic plan as a robust

foundation to navigate through adversity, recover, and persistently pursue growth and excellence.

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Strategic Plan: Dunkin’ Donuts LLC

Dunkin’ Overview (NASDAQ: DNKN)

Dunkin’, established in 1950, has grown tremendously since the brand’s inception as

Dunkin’ Donuts LLC. The company established a remarkable presence by offering an ideal

combination of five-cent donuts, ten-cent cups of coffee, and swift customer service. (“Dunkin’

Donuts History,” n.d.). Today, Dunkin’ is a quick service restaurant (QSR) leader with over 13,000

stores and extensive globalization with restaurants in over 40 countries (“Dunkin’ Brands Group,

Inc.,” 2023). Dunkin’ has attained global domination as one of the world’s most recognized brands.

As a QSR leader, Dunkin’ has amassed 20,000 distribution points in over 60 countries worldwide

(“Dunkin’ Brands Reports,” 2020). Dunkin’ remains true to its origins by specializing in donuts

and coffee, yet the brand’s product portfolio has expanded in recent decades to include diversified

options ranging from bagels, muffins, breakfast sandwiches, etc. (“Dunkin’ Classics,” n.d.). The

company continually evolves by introducing new products yet remains cognizant of initial

contributors to customer loyalty and continues to exceed expectations, thus catering to a larger

demographic.

Company History

Most people have never heard of William Rosenberg’s restaurant called “Open Kettle”

which was a 1948 establishment created in Quincy, Massachusetts. The brand name invokes a

connotation of buttery cinema popcorn and films, yet the brand’s products largely differ from

theater offerings. Conversely, “Open Kettle” was the original name of a now-famous donut and

coffee franchise: Dunkin’ Donuts LLC. Fortunately, Rosenberg, the founder of “Open Kettle,”

listened to the recommendations of his executives and changed the name of his restaurant from

“Open Kettle” to “Dunkin’ Donuts” in 1950 (“Dunkin’ Donuts History,” n.d.). The brand’s name

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changed again in January of 2019 when Dunkin’ Donuts was shortened to “Dunkin’” as one

pivotal aspect of Dunkin’s multi-faceted expansion blueprint and modernization strategy

(“Welcome to Dunkin’,” 2018).

Dunkin’ has grown immensely since its inception in 1950. Rosenberg’s business

philosophy of selling fresh, delicious donuts with rapid and courteous service proved successful

as the first franchise opened in 1955 which paved the way for the expeditious expansion of over

100 shops in ten years (“Dunkin’ Donuts History,” n.d.). Rosenberg’s philosophy remains

integral to the business’s continued success. Dunkin’s market domination is evident through the

brand’s placement as the top retailer of donuts in America with global sales exceeding 2.9 billion

(“Welcome to Dunkin’,” 2018). Dunkin’ now seeks to double its U.S. presence which will

subsequently result in over 17,000 Dunkin’ restaurants globally (“Dunkin’ Donuts History,”

n.d.).

Products

Dunkin’ offers a plethora of products suited to various age groups, health preferences,

and dietary restrictions. For instance, Dunkin’ now boasts a variety of dairy and non-dairy

options such as coconut milk, oat milk, almond milk, whole milk, skim milk, and cream to better

accommodate customers’ allergies and preferences (“Dunkin Menu,” n.d.). Dunkin’ continues to

epitomize excellence in the fast-food industry with its unwavering commitment to providing

high-quality, freshly brewed coffee, delectable donuts, and an array of mouthwatering breakfast

and snack options; the brand offers espresso, coffee, teas, frozen drinks, sandwiches, hash

browns, bagels, muffins, and donuts to specify a few (“Dunkin’ Classics,” n.d.). Dunkin has also

successfully delved into related diversification by selling coffee mugs, tumblers, and other food

service-related items. Dunkin’ diversified its portfolio through the introduction of new products

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yet kept the expanded product lines within the brand’s current market to enable better control

and market prosperity through mutual success (Kennedy, et al., 2020). For example, the brand

effectively markets seasonal tumblers that mirror the aesthetic of the seasonal drinks the brand

launches simultaneously. Dunkin’s fall campaign, “Uppin’ the Pumpkin,” focuses on pumpkin-

flavored items such as the Pumpkin Spice Signature Latte and Pumpkin Bakery Items while also

adorning the shelves next to the register with cups depicting fall-themed designs (“Dunkin’

Classics,” n.d.).

Operations

The COVID-19 pandemic had an unprecedented impact on business operations

worldwide. Fortunately, Dunkin’ adapted by utilizing the rapid expansion of technological

advancement and interconnectivity, thus capitalizing on an opportunity for financial recoupment

through flexible service. Originally, Dunkin’ used the franchising model to gain market entry

and global expansion (Schmidt, & Oldfield, 1999). The brand owes much of its success to the

continuation of a 100% franchised model (“Dunkin’ Brands Reports,” 2020). Notably, Dunkin’

utilizes 20,000 distribution points in over 60 countries globally which deliver supplies directly to

retail locations (“Dunkin’ Brands Reports,” 2020). The brand developed retail-only sites while

simultaneously maximizing economies of scale in production, advertising, and equipment costs

by incorporating central production facilities as an integral part of operations (Schmidt, &

Oldfield, 1999).

Being an omni-channel restaurant, Dunkin’ offers flexibility through traditional physical

stores, to include locations in airports, malls, and gas stations, in-app ordering, online ordering,

and delivery services, thus maximizing process efficiency, experience consistency, and customer

comfortability (Chiu & Chuang, 2021). For example, Dunkin’ enhanced customer service and

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combatted COVID-19 procedures by adopting omni-channel strategies such as partnering with

food delivery services like Uber Eats and DoorDash as well as launching its own “Dunkin’

Delivers” service (“Dunkin Menu,” n.d.). This approach ensures that the company's operations

play a crucial role in its overall success.

Vision

A corporation's vision statement delineates its future aspirations, encapsulating its long-

term objectives and desired destination, outlining the strategic direction it aims to pursue in the

coming years. A firm’s vision statement subsequently correlates with desired performance

outcomes through employee and shareholder understanding of the company’s strategy as well as

customers’ awareness of how a firm will meet their needs (Kantabutra & Avery, 2010). Dunkin’s

vision statement is “To be always the desired place for great coffee beverages and delicious

donuts and bakery products to enjoy with family and friends” (Leonard, 2023). The vision

statement is remarkably concise. Dunkin's articulation of its vision is straightforward, fostering

employee alignment with the company's purpose and strategic trajectory while instilling

confidence in customers that they can anticipate enduring value from the brand.

Mission Statement

A mission statement articulates the foundational purpose and rationale behind an

organization's existence. Thoughtfully crafted mission statements adeptly encapsulate the core

identity of an organization, offering profound insights into what an organization is and stands for.

In contrast to visions, which focus on the future of an organization, missions denote the vital

elements of an organization's historical origins and its current standing (Kennedy, et al., 2020).

Dunkin’s mission statement is “To be the leading provider of a wide range of delicious beverages

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and baked products in a convenient, relaxed, friendly environment that ensures the highest level

of quality products and the best value for money” (Leonard, 2023).

Corporate Values & Culture

Dunkin' is distinguished by its focus on two key initiatives that shape its organizational

culture: sustainability and people. In its pursuit of social responsibility, Dunkin' is deeply

committed to enhancing customer value through various initiatives. The brand has made

significant strides in driving change, particularly in the realm of sustainability. Noteworthy

actions include responsible sourcing of coffee, evident through strategic partnerships with World

Coffee Research and Sustainable Coffee Packaging. Additionally, Dunkin' has set industry

standards by prioritizing sustainable packaging, significantly reducing foam cup waste by one

billion annually through the substitution of polystyrene cups with double-walled paper cups.

These initiatives exemplify Dunkin's dedication to both environmental stewardship and customer

satisfaction, subsequently resulting in the brand’s fourteenth annual win as the #1 brand for

customer loyalty for the coffee category (“Dunkin’ Brands,” 2019).

Guided by its three core values—"strong,” “smart,” and “kind”—Dunkin' adheres to a

cohesive creed that clarifies what the brand represents. “Strong” means the brand establishes a

larger market presence through bold moves such as the launches of Beyond Meat breakfast

sandwiches and sustainable packaging (“Dunkin’ Brands,” 2019). “Smart” refers to taking rapid

action to seize opportunities. “Kind” exhibits how all ambassadors of the brand should act with

generosity and kindness. This shared focus ensures that every action taken aligns with the

organization's responsibility to its customers, employees, and investors to establish a constructive

culture. Dunkin’ cites the significant role the brand’s unique culture plays as an inhibiting

strength enabling the brand to acquire competitive advantage (“Dunkin’ Brands,” 2019).

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Strength, Weaknesses, Opportunities, & Threats (SWOT) Analysis

Dunkin’s SWOT analysis is essential for effective strategic management, as utilizing

SWOT analysis enables corporate leadership to generate a plan that leverages strengths, minimizes

weaknesses, and embraces opportunities while protecting the firm from threats. Management must

compare internal strengths and weaknesses with external opportunities and threats to attain

success. Properly conducted SWOT analysis can subsequently maximize a firm’s ability to

capitalize on profitability, even in volatile markets, if an effective strategic plan is generated and

implemented (Kennedy, et al., 2020).

Strengths

One critical strength of Dunkin’ is the brand’s investment in marketing. Dunkin’ invested

significant resources into utilizing a multi-day omni-channel approach to marketing which sought

to maximize social outreach in 2016. Dunkin’ illuminated the necessity to shift promotional

strategies to match the platforms customers were regularly using such as embracing Snapchat’s

over 10 billion daily video views and advertising on the platform with custom Dunkin’ filters.

Dunkin’ reached its target demographic by implementing strategic multi-pronged social

engagement strategies (Samuely, n.d.). The brand continues to rely on wise marketing tactics, such

as the 2023 Dunkin’ Super Bowl commercial featuring Ben Affleck and Jennifer Lopez, to gain a

competitive advantage (“Always Runnin’, n.d.).

Weaknesses

Dunkin’ International is an internal threat to the brand’s success. Dunkin’ International

sales decreased by 14.9% in 2020 compared to 2019 sales revenues. Significant sales declines for

certain international locations, such as Latin America, Asia, and South Korea, are a succinct

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weakness. Dunkin’s 2020 third quarter 23.1% decrease in revenues signifies how underperforming

locations can inhibit profitability (“Dunkin’ Brands Reports,” 2020).

A secondary vulnerability of Dunkin’ is the brand’s overreliance on the U.S. market.

Dunkin’s dependence on the U.S. market is currently a critical strength, yet overconfidence could

become an immense detriment if economic challenges arose. Dunkin’ relies heavily upon national

success with 46.7% of the company’s total revenues for 2019 as well as a $129.1 million

segmented profit, an increase of $1.3 million compared to the prior year, coming from the U.S

(“Dunkin’ Brands Reports,” 2020). Additionally, poor targeting outside of the U.S. results in a

lack of cultural awareness and ineffective strategy implementation that ultimately could cause

Dunkin’ to miss opportunities in emerging markets.

Opportunities

Dunkin’ can benefit from leveraging opportunities such as the growing demand for

healthier food choices, diversifying revenue streams in recognition of pandemic impacts enhancing

sustainability practices, and increasing ease of service through innovative technology.

Health Initiatives

Dunkin’ initiated “better-for-you” nutrition guidelines in 2015. The brand added healthier

menu items, reduced both the sodium and sugar content across the brand’s US menu by 10%, and

created DDSMART® guidelines which breakdown calorie, sodium, sugar, and saturated fat

thresholds (Fajon, 2015). As consumers seek healthier QSR options, Dunkin’s nutrition-focused

efforts pose an opportunity to capitalize on increased market demand to attain a competitive

advantage.

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Diversification

The 2019 global pandemic immensely impacted standard business operations with labor

challenges, forced closure of non-essential businesses, supply chain issues, etc. Dunkin’ faced

massive difficulty amid the COVID-19 outbreak with many closed locations in high-traffic areas

such as transportation hubs, college campuses, event stadiums, and airports. Dunkin’ was able to

get back to business on October 24, 2020 with nearly 98% of U.S. locations re-opened following

the COVID-19 outbreak (“Dunkin’ Brands Reports,” 2020). Mass forced closure of primary

consumer hubs resulting from a virus was entirely unpredictable, yet it illuminated the significance

of the brand having diversified revenue streams.

Sustainability

The shift in consumer expectations for firms to exercise corporate responsibility is an

opportunity for brands to expand their customer base and increase customer loyalty through the

implementation of sustainability practices. Dunkin’ began integrating environmentally friendly

practices in 2015 when the brand identified an alternative to foam cups. Dunkin’ furthered its

mission as a means of reaching internal sustainable sourcing goals by implementing the following

practices in 2016: required palm oil to be of 100% traceable origins, opened 100 DD Green

Achievement restaurants, and sourced 10% of eggs used for U.S. breakfast sandwiches from cage-

free sources. Additionally, Dunkin’ published its intent to irradicate gestation crates from the

brand’s U.S. port supply chain by 2022 (Fajon, 2015).

Innovative Technology

The global pandemic led to some positive outcomes, such as businesses enhancing

customer service by embracing innovative technologies. Global firms had to align operational

capacity to sociocultural changes to remain relevant and competitive in a changing marketplace.

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Dunkin’ increased customer satisfaction by adapting to the rising demand for innovative

technology through the 2012 launch of Dunkin’s first mobile application and the 2021 opening of

the brand’s first digital store in Boston (“Always Runnin’, n.d.).

Threats

The issue of rising labor wages is a pressing concern, particularly for small businesses and

family-owned enterprises. For instance, family-owned businesses often find it challenging to

sustain their payroll when regional minimum wage requirements increase. This challenge is not

limited to local scales; even global firms, despite having the financial capacity to retain their staff,

face potential declines in profitability due to the increased hourly costs. The escalation in labor

expenses impacts businesses across the board, spurred by tight labor markets, mandated minimum

wage hikes, and a growing proportion of full-time employees, all contributing to a significant rise

in overall labor costs. Consequently, the uptick in minimum wages has the potential to elevate the

company's operational expenditures, thereby impacting its profit margins (“Dunkin' Brands Group,

Inc.,” 2016).

Competition

Competition was not mentioned under the threat section of the SWOT analysis to avoid

repetition. However, competition is a high-level, unmistakable threat to Dunkin’s success and

longevity. The QSR industry is an immensely competitive market, making Dunkin’s strategic

plan, product diversification, value to customers, and operational management vital to sustaining

a strong market presence. Although the primary competitors for Dunkin’ are other QSRs such as

Starbucks, Dunkin’ faces the unique challenge of competing with convenience stores and

restaurants for bakery, coffee, and sandwich sales (“Dunkin' Brands Group, Inc.: Leisure and

Arts,” 2016).

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Starbucks

Starbucks (NASDAQ: SBUX) has adeptly navigated evolving consumer preferences and

outlasted economic volatility by capitalizing on the growing demand for specialty coffee,

sustainable practices, ethical sourcing, and customization (“SBUX,” n.d.). Starbucks was

subjected to financial difficulty due to the global pandemic as indicated by the dramatic low of a

$58.03 closure in March of 2020. However, Starbucks exemplified resilience with a progressive

increase in stock price; the company closed at $102.82 in July of 2023—proof of exponential

growth from the close of $79.28 in July of 2022 (“SBUX,” n.d.). The company continues to pose

a serious threat to Dunkin’ as demonstrated by Starbucks’s record thirteen-week consolidated net

revenue increase of 11%, $8.4 billion, in the fourth quarter of 2022 (“Starbucks Reports,” 2022).

The company's enduring success can be attributed to its relentless focus on customer experience,

innovative menu offerings, and strategic expansion into new markets.

Management and Leadership

As a result of Inspire Brands, Inc.’s acquisition of Dunkin Brands Group, Inc. in

December of 2020, Dunkin’s leadership hierarchy has changed (“Inspire Brands Completes

Acquisition, 2020). Dunkin’ now falls under Inspire Brands’ management (“History of Inspire,”

n.d.). The brand’s leadership is comprised of a diverse group of individuals possessing

substantial expertise across various domains. Their collective knowledge and skills are

instrumental in reinforcing the strategic management team, which is composed of the following

individuals: Paul Brown the Co-Founder & Chief Executive Officer, Christian Charnaux the

Chief Growth Officer, Don Crocker the Chief Development Officer, Chirstopher Fuller the Chief

Communications and Impact Officer, Christopher Held the Chief Supply Officer, Kate Jaspon

the Chief Financial Officer, John Kelly the Chief Company Restaurant Officer, Dan Lynn the

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Chief Commercial Officer, Natalie Rothman the Chief People Officer, Raghu Sagi the Chief

Information Officer, Nils Okeson the General Counsel & Chief Administrative Officer, and Scott

Murphy the Head of Beverage Snack Category & Dunkin’ Brand President (“History of Inspire,”

n.d.). Inspire’s leaders are integral to the brand’s mission of invigorating companies and

maximizing their long-term growth.

Financial Outlook

Dunkin's impressive financial performance, driven by its steadfast commitment to a

franchise-led business model and industry accolades, has resulted in a notable upward trajectory

in revenue. The common stock market price has been volatile since Dunkin’s initial public

offering in 2011; NASDAQ reported a substantial low of $23.24 in 2015, a significant contrast to

the 2019 high of $83.80 (“Dunkin’ Brands,” 2019). This upward trend, however, faced

unforeseen challenges during the global pandemic. Despite these hurdles, the company managed

to maintain a strong financial position, boasting U.S. sales of $9.2 billion (“Dunkin’ Brands,”

2019) total assets amounting to $3,920.02 million, and a net income of $242.02 million

(“Dunkin’ Brands Group, Inc.,” 2023). Although stock value is no longer a relevant metric for

the company, Dunkin’s financial outlook is strong given the brand’s reputation for brewing

customer loyalty and Inspire’s occupation of 58 global markets with a diversified umbrella of

brands enabling significant investment capacity (“History of Inspire,” n.d.). This resilient

performance underscores Dunkin's ability to navigate complexities and sustain its financial

stability, a testament to its strategic acumen even in the face of unprecedented global challenges.

Strategies

Dunkin' persistently executes its enduring growth strategy, prioritizing the augmentation

of same-store sales and net unit development growth. This strategic approach revolves around

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four pivotal pillars: menu innovation, ensuring excellence in restaurant operations, providing

unparalleled convenience to customers, and maintaining a high level of brand relevance in the

market (“Dunkin’ Brands,” 2019). These pillars serve as the foundational framework guiding

Dunkin's sustained efforts in cultivating a robust and evolving presence within the competitive

landscape.

Menu Innovation

Dunkin' places significant emphasis on beverage sales, leveraging the high profitability

associated with specialty beverages, notably the Signature Lattes featuring espresso. The

espresso category presents a considerable growth opportunity, as evidenced by the steady

increase in U.S. sales, such as the notable 40% rise observed from 2019 to 2020. Dunkin'

proactively addresses evolving customer preferences by expanding its menu to include more

vegan, vegetarian, and non-dairy options, catering to diverse demographic segments. An

illustrative example of this adaptive strategy is Dunkin's creation of a 100% plant-based patty.

The Beyond Sausage breakfast sandwich launch in 2019 marked a significant milestone as

Dunkin’ became the first U.S. QSR to offer such an option ("Dunkin' Brands," 2019).

Restaurant Excellence

In 2019, Dunkin’ was honored as the QSR with the fastest drive-thru service time

(“Dunkin’ Brands,” 2019). This achievement exemplifies Dunkin's proactive approach to

maintaining operational efficiency and customer satisfaction, aligning with industry standards

and customer expectations. The brand continues to prioritize customer experience through

enhanced focus on frictionless, efficient, accurate, and rapid service (“Dunkin’ Brands,” 2019).

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Unparalleled Convenience

Dunkin’ invested in customer convenience by expanding to allow all customers to use the

Dunkin’ application for to-go orders. The Dunkin’ application was also upgraded to support

mobile ordering, catering, delivery, and curbside pickup. Furthermore, the brand expanded its

product accessibility by introducing Consumer Packaged Goods (CPG), such as bottled lattes,

that are now available in convenience and grocery stores. This diversification strategy resulted in

substantial out-of-restaurant retail sales, with CPG sales reaching an impressive $940 million

("Dunkin' Brands," 2019).

Brand Relevance

With over 70 years of experience, Dunkin’ recognizes it appeals to loyal customers.

However, the brand also acknowledges the significance of continuing to adapt to remain modern

and relevant to maintain old customers and attain new customers. Dunkin’ signifies such

awareness through NextGen designs with the following changes: tap systems, front-facing glass

bakery cases, and expanded pick-up areas. The NextGen remodeling has proven a worthwhile

strategy with double-digit category increases in the U.S. ("Dunkin' Brands," 2019). Dunkin’s

approach shows Dunkin's proactive commitment to evolving with the times, ensuring relevance,

and sustaining its market presence.

Conclusion

Dunkin’ has adeptly navigated evolving consumer preferences, capitalizing on the

growing demand for specialty coffee, customization, and dietary inclusion. Moreover, their

digital initiatives, including the Dunkin’ mobile application and loyalty program, have

significantly enhanced customer engagement and convenience, driving sales both in-store and

through mobile orders. Additionally, Dunkin’s commitment to ethical sourcing and sustainability

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practices resonates with environmentally conscious consumers, fostering brand loyalty and

positive public perception. These factors, coupled with their efficient supply chain management,

brand recognition, product diversification, customer-centric approach, strong strategic plan,

dynamic management team, and global presence, position Dunkin’ as a leader in the competitive

coffee industry.

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