In a highly competitive business world, on a firm’s priority list is the subject of increasing profit and reducing cost. One might than pose the question, has this put them out of business (mom and pop store)? The answer is absolutely not, but rather, they too benefit from cheaper prices as they continue to buy in bulk and continue to operate as the name suggest, convenient
End Vision First, I think that implementing a good management plan by the upper level management is very important for KFF’s to succeed as a company. Having a replacement inventory coordinator who purchases the best possible products for all three stores, Also, having a person who controls the accounts payable, receivables, and finances that coordinate all vendors get paid on time will allow Kathy Kudler to focus more on duties that need more attention. For instance, implement a better website for the business will give better benefits to customer, therefore, sells will increase. The company needs to understand the difference between having a website and having an effective website. The website that is in place in KFF only displays the goods and services.
Kudler Fine Foods Frequent Shopper Program Concerns Kudler Fine Foods wants to implement a frequent shopping program to monitor the shopping habits of its customers, and increase customer satisfaction with a projected revenue increase of 4.75% over the first year. As Kudler Fine Foods is a high end grocer, the goal of the frequent shopping program will not be centered around cost savings, but as a point system offering exclusive awards similar to credit card point systems. Kudler Fine Foods can increase customer satisfaction by tailoring their inventories around customer’s shopping habits, but some concerns need to be addressed concerning the tracking of individual customer purchases. The management needs to understand how the frequent shopper
position. I believe that, although there are many negative consequences that come along with the introduction of a new Walmart, that they are beneficial to the quality of life for a community. Te he introduction of a new store brings new jobs to the community, ones that might not have ever been created, had it not been for this store being built. It provides one stop shopping for people of that area and also provides goods at a price much cheaper than a “mom and pop” store could have. This fact alone is going to boost revenue for the town.
To see these benefits, the focus needs to remain on benefiting the community at large and meeting the needs of each individual location. Crime can be reduced within the store by helping provide for the community and offering opportunities to help people work their way off the streets. Consumer spending can be increased by meeting the demands of the area while helping those who cannot afford to spend money on the goods the company sells. Any company would be wise to remember that quite often it is the poor who succeed later in life and become a company’s biggest investors. A focus on those in need is something that helps a company’s reputation for years to come, boosting profits in both the poorest neighborhoods and the wealthiest.
Target is also a discount store, but they offer a different spin. They are more focused on the style. Target’s corporate strategy is one that has changed little over the years: to provide high-quality, stylishly designed items plus all the essentials for life, displayed in a clean, organized and welcoming environment. Target’s size is most beneficial because they can cater their services and products to change with trends more quickly and at prices that are affordable to the customer. Target appears to run on a functional organizational structure.
Kudler Fine Foods Virtual Organization Kudler Fine Foods (KFF) is an established business that survived the initial period successfully and grown by adding two additional stores. Because of owner’s prudent management the business presence in the market is solid, although other competitors represent a threat. Additionally the threat of handling perishable goods is also present, but competitors have the same issue plus KFF can compete with reasonable prices to make it attractive to customers (Kudler Fine Foods, 2012, p. 10). KFF needs to initiate marketing research analysis to pinpoint the areas of opportunity and improvement. In this analysis a secret shopper should be part of the research to visit stores around the three KFF establishments
Walmart sells many items at ridiculously low prices. They are able to offer low prices on their items due to an incredible mark-up on imported products. Especially in today's economy, the buck is the big winner. Everyone wants to save money, and they can do that by shopping at Walmart, where many items are the lowest price in town, even if it's only by a few pennies. But consumers aren't helping their fellow countryman earn his own living by buying these imported items.
Advertising is a large part of Target’s marketing management. The retail stores sell a large variety of high quality items at lower prices than the competitors, therefore, selling more products. Target’s marketing team is constantly re-evaluating the products sold to assure that their customers stay satisfied with the items that are in stock. To guarantee that customers stay completely satisfied, Target will special order items if requested by a customer. To continue to be the largest retail store, Target has to make sure that their prices are the lowest and that the products they sell meet all of the wants and needs of each customer.
Because of their consistently low prices on products, their competitors have lowered their prices in order to compete with Wal-Mart. In turn, this has driven overall prices down. Wal-Mart has also created many new jobs and increased tax revenues. Businesses that are located next to Wal-Mart stores have also benefited from them because customers who are shopping at Wal-Mart will stop at other businesses before or after shopping at Wal-Mart ("Walmartstores.com: Economic Opportunity"). Because of the impact Wal-Mart has had not only on the retail industry in the United States, but also globally, I think it is safe to say that Wal-Mart is a very secure company.