Word on the street is that a new Chipotle Mexican Grill will be landing in Vestal Parkway’s University Plaza come next year. Yum!
Chipotle Mexican Grill has been experiencing record highs in sales and stock prices lately, so one would assume they have an equally growing marketing budget. Wrong!
Over the course of their 20-year run, Chipotle has chosen a bare-bones marketing budget approach and now relies heavily on cheap and free media tools like Facebook and Twitter to get their marketing messages out.
Chipotle’s good reputation has so far been built mainly on the happy taste buds and rave reviews of its customers, but can a national restaurant chain really rely that heavily on word-of-mouth advertising?
Can a business substantially grow their customer base without growing their marketing investment?
Jamie Jacobs, Account Executive
(with help from intern Tom Engle)