The creation of a roadmap to a strategic plan should be followed up with a scorecard of the business. The scorecard will allow the business to see if the roadmap is work or not and allow some adjustments to the plan where needed. As a small bakery it is important that my strategic plan helps to drive consumers and generate revenue. Small businesses needs to monitor their plan on a daily bases to stay ahead of the competition. Small business will need to think outside of the normal circumstances in marketing their product.
In addition to the marketing surveys the company performs, they could also employ secret shoppers, build a stronger online presence, monitor forums and scope out their competitors (Armstrong, 2011). Better understanding of their customer needs and what the competition offers of which Kudler may not is likely to increase Kudler’s understanding of marketing and customer loyalty. Competitors in the local area of Kudler Fine Foods should not be the only competitors considered in the company’s search for a better marketing strategy. Viewing online and worldwide competitors as a threat should be researched to see what each company brings to the market. Kudler would do well in forming a marketing research team and employing a marketing information system to help improve their company’s
KFF should research the market to find the needs of the customers. Big companies could be the perfect place to start the research like what kind of orders they place and when they order. Other sort of information could be found in the census reports like type and age of population, income, religion, education, occupation will help decide the needs of other consumers. This will help narrow down requirements for catering business. If the population is young then may be more wedding parties, bachelor parties, Halloween parties or if the population is older then more of formal parties in the gardens and vineyards.
Lowes Foods superior customer service, rewards programs, Lowes Foods to Go program, and deli selections are unique in the grocery industry. By opening new locations in a new marketing region, Lowes Foods will increase their sales and therefore profits. A distribution center would be build to support a network of 5 to 10 stores throughout western Detroit and Ann Arbor areas. With the new locations, the goal would be to increase revenues and net income by 10% within 5 years. These efforts in customer and community service help Lowes Foods to increase their sales and therefore profits.
“A firm pursuing a focus strategy is willing to service isolated geographic areas; to satisfy the needs of customers with special financing, inventory, or servicing problems; or to tailor the product to the somewhat unique demands of the small- to medium-sized customer” (Pearce and Robinson, 2009, p.205). Mrs. Kudler has plans to add to the inventory and ordering automation by introducing new e-commerce capabilities and an online catering link (Kudler Fine Foods Portal, Strategic Plan, pgs 15-16). Kudler Finer Foods needs to implement new cost structure within 60
It may involve the use of questionnaires, interviews with customers, experiments, and many other approaches (Perreault, Cannon, & McCarthy, 2009, p. 202).” Kudler Fine Foods must perform quality marketing research if they hope to remain successful with their current stores given the local competition from other stores in the area. Market research also includes the process of systematically gathering, recording and analyzing data and information about clients, rivals and the market. Its uses include helping create long term business plans, launching new products or services, fine tuning existing products and services, and expanding into new markets. Market research can be used to determine which additional areas of research are needed for Kudler in the areas of customer satisfaction, and a need based analysis to determine if expansion of a new store is necessary or continued growth and development of existing locations. The customer service satisfaction survey that is currently in place on the Kudler website will help to identify what the customer’s like and don’t like about a minimum number of variables but market research needs to also include other vital information like culture, socio-economic background, health, and other marketing mix elements.
Also they will be able to get feedback from customers from the website. Kudler has moved away from taking inventory on paper to using computer software to manage the items that are sold, shelved and items that are in the back to be placed on the shelves. By the company getting this new technology within their organization they will be able to maintain everything smoother then before (Kudler Fine Foods). They will be being able to allow customer to use the website to see what they store has before they get there and see what sales that are going on at that particular time. Also, they are able to keep up with the inventory easier then taking it down on paper when
In order for Kudler Fine Foods to develop a functioning frequent shopper program, it must track and monitor consumers shopping behavior. The drive of market research is to collect data on consumers and prospective consumers. The collected statistics support business decision making, which therefore diminishes the risks involved in making these conclusions. This type of research would also benefit the consumer by lowering the cost on items bought most, while giving them personalized incentives to return. As a result, legal matters concerning privacy of the consumer has risen and established far more attention.
Running Head: STRATEGY Strategy MMPBL/502 July 22, 2011 Strategy Kudler Foods is an organization that started up in 1993 and has grown to three stores. Kathy Kudler has researched expanding the company to include a catering division. Kudler Foods has entered into an agreement with local organic growers to supply the stores with local organic produce. As a result of the expansion Kudler Foods projects an increase in customer purchases. To reach this goal Kudler Foods will need to assess how changes in technology will help create business opportunities by pursuing a generic strategy and tactics for implementation.
o Explain why accurate forecasting is so important to sales enhancement, customer satisfaction, and cost control. o Identify the number of units to purchase for the new distance measurement device based on the economic order quantity. o Identify the number of orders per year that must be made to take advantage of the economic order quantity. Complete information regarding the Inventory Management Challenge activity is found on the student Web page. Submit the deliverable in your Individual