Strategic planning is crucial at this stage and there are tools available to help any business perform the analysis needed to succeed. Kudler Fine Foods is an upscale food store specializing in foods and services that appeal to a niche market; gourmet chefs and gourmet chefs in training. The firm had good initial success with its first two stores, but its third store is suffering with lower than expected sales. The firm wishes to continue expansion and increase profitable growth. Before moving forward the company’s owner, Kathy Kudler, needs to understand her company fully and have accurate knowledge about the firm’s internal and external environment.
Pricing is what really brings the bulk of customers to purchase the product. There are times that a client is interested in a particular product, but because is to high they do not purchase. Now there are other occasions that even though the price is high, the service is fantastic, so customers preferred to pay extra just for that good service. Kudler Fine Foods is that case, they offer valued services instead of discount and so far that program works for the
Kathy would like to build the company up to a point so that in the next few years she’s able to retire (Kudler strategic plan, 2003). The employees want to be able to earn a good salary and have job security by working for a profitable and growing company. The customers want a large selection of high quality products at reasonable prices. The company’s suppliers have the similar interests as the employees – steady orders from a profitable and growing company able to pay its bills in a timely manner. Problem Statement Kudler Fine Foods can become the premier gourmet food store in its marketplace by developing effective leadership that enables the company to be
Marketing Kudler Fine Foods Nanette Chambers MKT/421 July 8, 2013 Marketing Kudler Fine Foods In the current retail food industry there are numerous competitors struggling for the same dollar. It is vital for each business to recognize their target market, recognize their competitors and then put together their marketing plan. The information below will detail Kudler Fine Foods marketing strategies which consist of increasing its services, improving its effectiveness of the business and increase consumer purchase cycle. This paper will also talk about areas where Kudler Fine Foods needs to expand their market research. Kudler fine food is a store that markets fine foods and needs to bring about increasing their goods to the
She can continue to offer specialty items, and by becoming more of a technological and current business she will earn the respect of her customers and her competitors. Kathy’s vision is “Kudler Fine Foods will be the premiere gourmet grocery store for those savvy shoppers who are searching for the finest meats, produce, cheeses and wine,” and by making some changes she can achieve this vision faster than she ever thought possible. Many entrepreneurs do not want to give up any “power” to others and relinquish some of the duties that she has handled on her own, but the rewards will be tremendous. The best way a business owner can increase and improve themselves and their business is by acknowledging that they do not know everything and only by trusting the right people can the business succeed to the level Kathy
Planning for the future of the company requires mangers to think logically and make decisions that will help the company reach its objectives. This management function needs to be updated continuously because the market is constantly changing and the company needs to keep up with the market and for the company to be successful. For Kudler Fine Foods Kathy Kudler owner of the company is at the strategic level of the company planning the future of Kudler Fine Foods. Kathy Kudler’s frustration of traveling everywhere to get ingredients for her gourmet cooking she came up with a successful company. Her vision for the company has made the company so flourishing in the short amount of time it has been business.
These overall improvements have been a step in the right direction for Lowes’ future. These improvements however do cost money but like every good business man or woman knows to make money you sometimes have to spend it. So this can affect Lowes financial planning in the present and future, currently sales and profits have grown because of the new mobile devices therefore the risk factors are minimized due to the knowledge that these improvements are working but Lowes must continue to analyze the cost for these new improvements every year make sure these things do not become a financial burden. Therefore cost analysis is one factor that can affect the financial planning of the company also minimizing the use of these devices to only the stores is another factor that needs to be considered in the financial planning process. Spending money on training of these devices are also factors that must be considered this takes employees time and cost the company man hours and thus money that could be spent on other things.
Beth’s office is through the kitchen in the back of the store. The Paradiso’s mission statement is “To build a lifelong partnership of raving guest, associates and stockholders”. Her job is to order supplies, doing schedules, hiring employees, cooking, serving, counting the register at the end of the day and taking care of the store. Beth says her least favorite thing about her job is the turnover never having enough people to run the store. There are times that she has to be the manager and the cook at the same time.
Situation Kathy strives to provide her customers with the freshest and finest selection of the very best foods and wines. With this, comes a lot of responsibility. She is not only solely responsible for the hiring and firing of employees, she finalizes the inventory numbers, places orders for all 3 stores, and controls the finances. She even is seen running
If she makes profit she can invest in new equipment or machinery e.g. new baking oven. This can also benefit to be more motivated to work harder like taking new risk e.g. new types of cakes. Moreover the importance of profits to any business is that they need money to pay rents, insuranceand wages if the business makes no profit and more loss they may lose the shop because they cannot pay the rent.