Kudler Fine Foods Week 3
University of Phoenix
Carlene Szostak (Instructor)
MKT/421
Kudler Fine Foods Week 3
This paper gives a justification of the importance for Kudler Fine Food’s development of its marketing tactics and strategy, and identifies other areas where additional research is needed. An analysis is done to understand the importance of competitive intelligence in regard to the development of Kudler Fine Foods marketing strategy and tactics.
Justifying the Importance of Market Research in the Development of Kudler Fine Foods Marketing Strategy and Tactics
Kudler Fine Foods finds it important to do market research to ensure its organization is providing the best service possible for its consumers.
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To gain competitive advantage Kudler will need to gain enough information about its competitors to know its competitor’s strengths and weaknesses. By knowing the competitors strengths and weaknesses Kudler can market its products with a differentiated strategy from its competitors (Business Marketing Plan.net, 2011).
With up to date analysis of competitors marketing strategy and tactics Kudler can keep its own marketing strategy and tactics prepared to do whatever is necessary to market better quality and win the satisfaction of consumers over its competitors. Whether it is producing a larger selection of wines, expanding its bakery products, finding new ways to make its meats and seafood tastier than its competitors, or even lowering prices, Kudler can lower its prices to gain market advantage only if it has up to date information about competitor’s prices. Same with its products, Kudler can only differentiate its products if it knows sufficient information about competitor’s products (Business Marketing Plan.net, 2011).
Kudler Fine foods cannot allow competitors with the same products as they have to produce products that are of better quality or at a lower price than they have. “In almost all
Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim
convey the information to the sales and marketing division to provide an opportunity to plan future marketing strategy. The ability for Kudler Fine Food to expand its business is part of the successful implementation plan with the potential of adding software and hardware as the need arises.
In order to succeed, it is fundamental that businesses satisfy consumers’ needs (and desires) for goods and services. Appropriate market research provides the data necessary to understand those needs and respond to them effectively and profitably. Kudler Fine Foods (KFF) has performed market research in the past. Some of that research has been helpful; some has not. Additional market research is needed for KFF to reach a larger share of the market and increase profitability.
Next the evaluation of current and future opportunities available to Kudler Fine Foods would want to be evaluated. These opportunities could include technology upgrades, market positioning, diversification, or any other related areas. During this evaluation it might be useful to gather information from industry experts or consultants (MacVicar, 1996).
To apply analysis of market trends and market structure of Kudler Fine Foods it is important to understand meaning of the
Kudler plans to expand these areas in the future, providing a multitude of specialized classes to its loyal customers. Offering cooking classes in many areas of the store makes customers more interested in shopping the store and learning new techniques in cooking healthy fares for their families. In addition to offering these classes, the employees are to be cross trained in many areas to provide a pleasant shopping experience for Kulder 's customers. The customers will also be provided with brochures of the dishes they will learn in the store that will provide the recipe and food suggestions that will go with the main dishes taught in the class. This suggestive information has been proven effective in marketing strategies; therefore, Kudler will use this suggestive marketing technique to increase the buying desires of the customers.
Market research plays an important role in every aspect of an organization 's strategy of expansion and diversification. Since Kudler Fine Foods is expanding services then it needs to know about their competitors. Market research
Kudler Fine Foods is a specialty store founded in San Diego. Though nested in the neopolitan area they have additional store locations in Del Mar, La Jolla and Encinitas. Kudler has some of the best imported and domestic food, wine, and spirits. Their selection is comprised of fresh produce, bakery and pastries, condiments and packaged foods, fresh food and meat, and specialty dairy products and cheeses. Kudler’s mission is basically to provide the customers with the finest foods, wine, spirits and the best shopping experience all while buyimg the finest epicurean delights. Throughout this paper the importance of marketing research in the development of Kudler Fine Foods marketing strategy and tactics will be
Kudler Fine Foods is a local retailer of gourmet foods and ingredients. Through three store-front locations Kudler offers premium products to the local market and regional chefs or restaurants. Since their inception, Kudler Fine Foods has strived to provide the very best customer experience through quality products at reasonable prices and
Kudler needs additional market research in the control, monitoring, feedback to evaluate the plan. The marketing strategy will prove success if the company finds new ways for consumers to think of Kudler first when it comes to gourmet and fine foods. Kudler’s products have to stand apart from its competitors to appeal to people. The right price, placement and promotions for the gourmet grocery store will give the stores an advantage over its competition.
Marketing research is important for all companies. A company must research the areas they hope to expand and know if they can be successful in that area before they ever decide to open up a new store. Marketing research will inform a company what will sell and what will not sell in an area and the main focus of a company should be researching the customers in the area and knowing competitive intelligence. If a company uses great marketing research it will give them the best chance to put together a great marketing plan and be successful. Kudler Fine Foods is a company that has been around since 1998 and currently has three different stores in the San
The analysis will apply important microeconomic concepts toward the competitive strategies of the Kudler Fine Food Virtual Organization, which affect its long-term profitability. The analysis will evaluate the differences between market structures and review the organization’s strategic plan, marketing overview, market surveys, and other material to evaluate the organization’s competitiveness in the marketplace, including its customers’ views. The analysis will identify the market structure that best applies to the organization, and assess how the
Kudler Fine Foods is focused on furnishing its clients with the finest choice of nourishments and wines accessible in the retail advertise. The proprietor's vision is to be the highest point of the line gourmet supermarket for observing customers looking for the best meats, deliver, cheeses, and wines. To further her main goal and vision, proprietor Kathy Kudler framed the business inside of the monopolistic rivalry business structure, built up a promoting review, and made business sector overviews to assess the business' aggressiveness in the commercial center.
After the marketing research the company should be looking to re plan its marketing strategy and try building a brand of its own in the eyes of the customer. The main aim of this whole process (for Kudler) should be to find out the ways by which it
Market research is the process of gaining the relevant information to identify the demands of any gaps in the market. Questionnaires are frequently used in order to collect this information. The questions used in these must be carefully thought out to ensure that you collect the anticipated results so that the business meets its demands. The results gathered allows producers to make decisions