Kudler Fine Foods Virtual Organization MKT/421 University of Phoenix Online May 17, 2011 Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011). Now, marketing research, on the other hand …show more content…
It uses public sources to locate and develop information on competition and competitors and it is highly specific and timely information about a corporation” (2009). This relates to the Kudler Fine Food’s marketing strategy because Kudler uses its selection, collection, interpretation and distribution of publicly-held information about not only themselves, but about the products the sell. I can say that I have not really been able to locate any company that Kudler is competitive with on their web-site but I do notice that their selection can be considered competitive in any market. The way in which Kudler describes their position, performance, capabilities and intentions is very relative to a marketing strategy because they are not hiding behind any veils or doors about whom they are or who they portray what they are about. The importance of competitive intelligence and analysis in regards to the development of Kudler Fine Food’s tactics offers the consumer the opportunity to tell them what they do or don’t like, which store they have shopped in, how the learned about Kudler Fine Food’s, and why they shopped there and why they will shop there again. Any tactic a business can use in analyzing their own web-site through the eyes of their customer is a very strong use of competitive intelligence.
Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have
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.
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.
Competitive intelligence and analysis is an important part of a business. Competitive intelligence is the art of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, individuals, concepts, information, ideas or data needed to support executives and managers in making strategic decisions for a business. This includes a broad array from government intelligence to market intelligence to business intelligence (Competitive Intelligence, n.d.).
Consumers are more mindful of how their dollar is spent, and want to obtain the best bank for their buck. With general grocery stores located in La Jolla surrounding Kudler, Kudler must find innovative ways to compete and get customers into its stores. Marketing research for competitive intelligence is importance because the local grocery stores offer differentiated options to reach new customers. For example, generic stores are beginning to offer natural and organic foods, buyer programs, cooking demonstrations and slashed prices just as Kudler does and for a fraction of the cost. One can compare this to Dunkin’ Donuts and Starbucks; some folks want the experience and that is what Kudler must do; make it an experience for the consumer and potentially bring in products they do not current stock such as beauty products, vitamins and supplements, or other common grocery store items.
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.
Kudler Fine Foods has had great success in the past and present with its mission and sales. Since its first upscale store opened in 1998, Kathy Kudler (Founder) has expanded and opened stores in two other locations. So, to further expand its operation, Kudler has decided to express interest in designing Kudler Fine Foods Frequent Shopper Program. This shopper program should
Kudler Fine Foods has experienced growth in all areas except customer satisfaction with their pricing. By focusing on ways to reduce internal costs then product costs can be lowered enough to appease current customers and attract new ones. The culminating effect of this one action will generate an increase in sales, customer returns, and the overall shopping
To inspire customer loyalty and respond to customer shopping preferences, the Sales and Marketing department of Kudler Fine Foods is initiating a Frequent Shopper Program to track customer purchase patterns and provide shopper incentives through a loyalty points program. (University of Phoenix [UoP], 2007). Specialty items are more important to Kudler customers than the price of items, so instead of providing everyday discounts for purchase frequency, Kudler has partnered with a loyalty points program to reward customers with redeemable points for high-value gift items, airline upgrades or other specialty foods. "Building unique rewards programs that differentiate the brand--along
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
You advance in business through knowledge! Understanding the competition is a crucial business strategy that allows you to improve your competitive advantage. Conducting a competitive site assessment should be an ongoing process, and we have developed a framework for making competitive site landscape assessments effective, by gathering business intelligence, and understanding how they position their own brand, products or service and company in the marketplace. Our suite of competitive site analysis services will help you understand how your business can benefit from competitive research, how to conduct competitive site research, and track trends and scenarios using sources we adopt that you will find most productive and insightful.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.