They also ask customers about what they would like to see in their stores or any other items that the company can improve on to make their business more enjoyable. In order for Kudler Fine Foods to keep a competitive edge they need to strengthen their marketing research. The company knows what consumers want know and what they like about their company at the current moment, but the company needs to do some research on business trends and forecasting. Kudler Fine Foods need to use secondary data in order to find this information out. The company needs to see how other companies similar to Kudler Fine Foods did throughout the years.
“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
Marketing research will uncover for Kudler not only the products desired but [For parallel construction, "not only" must be followed by "but also" later in the sentence] the price consumers are willing to pay for each item. A product may be desired [Passive voice ] but if consumers aren’t [Write out contractions] willing to pay a price high enough to provide Kudler a profit it must be taken [Passive voice ] off the shelves. However, Kudler may find through market research that offering consumers the ability to order specialty items may increase
Just as the other marketing mix components there are questions that must be answered in order to determine pricing for a product. One question is what Kudler’s price should be in comparison to its competitors. Kudler Fine Foods has to decide whether they should be lower, higher, provide more bang for the buck or offer exclusive services at expensive prices. The standard that Kudler Fine Foods has for its other promotions is for them to be self-funding. I think it is essential that the catering service also have that standard.
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.
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
Integrated Marketing Communications Plan An integrated marketing communications plan is useful for Kudler Foods because it will provide the company with a cost-effective way to address the needs of consumers and reduce the price of marketing. This plan provides a Kudler with a newly refined marketing plan that will help during the implementation of the before mentioned plan to suit the needs and wants of the current/future consumers. To develop an effective integrated marketing communications plan, I will define the strengths and weaknesses of the company based on the results of the existing consumer research and make suggestions on marketing strategies/tactics that will assist in improving the before-mentioned weaknesses. I
“Competitive Intelligence is the ethical gathering and analysis of competitor and market information from open sources. This analysis is used by organizations to make better strategic decisions.” (Cipher, 2012). Competitive intelligence and analysis is important because it provides a method that Kudler Fine Foods can use to assess and evaluate the marketing tactics that are successful for their competitors. By employing competitive intelligence Kudler Fine Foods can gather information concerning their competitors marketing strategies and then use that information for their own advantage by incorporating certain strategies that will fit into their marketing plan. Competitive intelligence will also allow Kudler Fine Foods to gain knowledge concerning certain trends, such as legal, environmental, industry, international, regulatory, and economic, which they can use to further develop successful marketing strategies and
Mission Statement The purpose of this paper is to analyze the mission statement of Whole Foods and discuss whether or not it meets the criteria set forth in David and David’s article. 1. Customers; their target market is addressed but I believe it is restricted to only those who have already made the decision to eat healthy. It appears that in order for them to attract new cliental they must satisfy there present consumers and hope that they spread a good word about Whole Foods products. 2.
Advertising of fast food keeps costumers wanting more and more. Anytime costumers see the satisfying sandwich, instantly their mouth waters for the taste of it. Local grocery stores and convenient shops have ads and coupons from the local fast food franchises. The coupons increase the costumers appeal to the restaurant because of a possible discount and full belly. The situation is very ironic because the grocery stores with nutritious food advocates for fast food restaurants that are, in context, competing with their sales.