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.
Strategy Assignment Kudler Fine Foods has been through major changes, in which the changes have created advantages for the organization. Companies use information technologies and develop strategies and tactics to help them grow, lower cost, maintain a strategic and competitive advantage. Kudler Fine Foods have properly used the technology available to the company so that it will be beneficial to their growth and overall success. This paper will identify how technology has created business opportunities for Kudler Fine Foods. In addition, this paper will identify the generic strategy Kudler Fine Foods is pursuing, and based upon the generic strategy, this paper will identify some tactics the company should implement to realize the generic
The technology innovation also enables Kudler Fine Foods to advertise its product line to the public so that they can know its products and services without necessarily visiting any of its store locations. Kudler’s business innovation strategy aligns with its technology initiative, and allows it to better execute it business, manage and better control its risks as well as increase its sales and profitability. Most companies today understand that repeatable business process is one of the key
Your shoppers must always be able to find these necessity items in stock whenever they are needed. These much needed products include household cleaners, health and beauty items, paper products and food items. As the current market structure of the dollar general store is important we look at the effect of government regulations. As seen in the last couple of years, DG has started offering advanced in-store services to their employees which in turn is passed to the consumers. However, more services can be added to attract consumers the best thing any business person can do is to get familiar with the country that you’re targeting.
AMBA610 Analyze the pros and cons of how at least two globalization strategies might apply to Stonyfield By Mariva Mazumder Globalization has become a worldwide phenomenon. The strategic framework of globalization, enable organizations to cross the national boundaries and attract business from around the world. That’s why Stonyfield Farm, the number one US producer of organic yogurt, is looking to access the worldwide resources and venture into oversea markets. Being a company who holds strong commitment toward social responsibility, Stonyfield must focus on strategies that will allow them to pursue its mission of delivering healthy, natural and nutritional yogurt while maintaining its commitment to support eco-friendly operations. In doing so, Stonyfield must undergo challenges and carefully evaluate the best approach when entering the global market.
Marketing Plan: Phase III MKT/421 Describe the attributes of your product or service in detail. Within the new white chocolate bar offered by Mars Co. the organization will attract more consumers to the candy company. Indeed through the process of the product lifecycle. This would revolve around advertisement and promotions. Moreover, this will meet the needs of customers and sales personnel, as well as marketing strategies to promote the new chocolate bar.
These options are going public through an IPO (or initial public offering), acquiring another company in the same industry, or merging with another company. In order to determine this strategy this group must examine where Kudler Fine Foods stands on its own and which will benefit them the most. With the desire to expand, choosing to go IPO is desirable as it would raise capital to allow KFF to grow. This capital could be used for development, working capital, or to pay off debts. It would also increase the awareness of the company beyond the three locations which could exponentially expand the demand for the products and services of KFF, leading to online sales and more brick and mortar locations.
Each team member will include one alternative and recommend a single strategy that Kudler Fine Foods may implement. The alternatives discussed will be (1) expansion by horizontal integration (2) expansion by adopting generic competitive strategies (3) expansion by product development (4) expansion by recruiting new management team, and (5) expansion by identifying a specific plan for new location. Expansion by Horizontal Integration To maintain and increase its competitive edge, an alternative strategy KFF will consider is to realize growth and increase productivity through horizontal integration. Horizontal integration will increase KFF’s economies of scale and scope, marketing power and reduce the cost of international trade when this opportunity arises (University of Phoenix, 2007). To increase its scale and scope, KFF will expand geographicaly first through acquiring similar stores so as to sell more of the same product.
Business Models and Systems Candis Fritts BUS/210: Foundations of Business February 16, 2014 Haven McCall The key components of the local business that I have selected (Family Dollar) are: * A new broader array of products to customers * More convenient shopping and check-out experience * More payment options at the register They wanted to broaden its merchandise assortment, to increase the types of tender and integrate its point of sale equipment with backend software. They not only wanted to complete their annually budget and forecasts quickly as well as accurately, also to analyze their 7,400 store portfolio and plan accordingly to meet their current as well as for future demands. The
Likewise, combining the efforts of an entire industry into one marketing campaign benefits everyone in the industry, even if they’re competing for the same dollar. The “Got Milk?” campaign devised by the California Milk Processor Board, for example, serves all milk processors and dairy farmers, including competing brands. Resource sharing is a significant reason to cooperatively market. Buy-local organizations can hire one graphic designer, one web designer, and one marketing manager, who then produce marketing material for the group as a whole and even for member companies. Cooperative marketers often use their power in collective bargaining as well.