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.
First, offering to purchase on the website will gain more attention from customers because of the convenience of time. Time plays a huge role in customer’s experience, for that reason customers will gain the easy of buying products online at Kudler Fine Foods. Additionally, KFF can advertise the unique products and services offered added to having customers enjoy the benefit of shopping online. For instance, coupons, weekly specials, gift cards are some of the incentives that the website can offer to attract more customers’ trough the website and increase revenue. In conclusion, Kudler Fine Foods needs an effective management team to operate successfully at their best ability by allowing them to implement their knowledge and skills to improve productivity around the business.
The consumers will benefit by obtaining the quality goods Kudler provides as well as customized promotions based on personal shopping patterns. Tracking the shopping patterns of the customers will help develop a marketing strategy for Kudler. This strategy will allow Kudler to offer certain products at times when an increase in demand has been determined by shopping trends. Kudler will also benefit from this program with an increase in revenue and a more stream lined business process. This program will keep track of individual customers purchasing behaviors, which will allow Kudler to know how much of a certain product to stock.
A potential opportunity that they could explore is to utilize self-checkout terminals in their locations. Self-checkout point of sale terminals could do many things to improve Kudler Fine Foods as a retail competitor. First, it would improve their customer service as many customers prefer to check themselves out rather than having a cashier. In today’s technology environment, “…systems can be tailored to better fit any retail environment and are more focused on improving customer service rather than cutting labor costs” (Murphey, 2009, p. 1) . Even though the prime focus of these systems is not necessarily to cut labor costs, often times they can improve efficiency.
Having at their side another company advertising and selling their products will provide the opportunity to expand their market. In addition, this decision will provide clear information to the shareholders of the company’s intentions to grow and of its economic stability within the market. On other hand, merging with another company will definitely attract more customers and will increase their sales. These strategies will help in the company’s position before the globalization and will minimize the risks when important financial decisions are
Smith Consulting Incorporated has been consulted to provide insight on the system build. The main areas to address will be network security to prevent data loss or theft. This could result in the loss of privacy and possibly violate our own terms and conditions to the customers. This could lead to additional costly legal fees, loss of Kudler Fine Foods’ reputation, and a lack of confidence in the company by the affected customers. The loss of data could also lead to competing stores gaining the information for their own use that could result in further revenue
These ideas need to improve to increase consumer satisfaction. Kudler addresses the product section of the marketing plan to increase sales. For example, Kudler plans to use a frequent purchasing program to notice which items sell most frequently. Kudler will also bring in useful information if the company later contacts the consumers who purchase these items to see if the product is satisfactory or what improvements need to occur to make the product more useful. Kudler may also discover what selections of items consumers want to see on the shelves through the use of this information.
Abstract In this paper you will see how the changes in technology help Kudler Fine Foods become a better organization and all opportunities to come to play within the company. Its shows how they developed a website for customers use and also how they created a system where they can take their inventory that is shelved, stored and that was sold better then keeping up with it on paper. You will see information about the generic strategies and an overview of that they are about. You will also see that out of the generic strategies that Kudler uses the differentiation strategy to show that they focus on their customers more and how they organizations structure is formed to push their product to customers. You will also see the things that
The purchasing agent could then monitor the inventory and order product when necessary for each store and have it delivered on an as-needed basis. This would leave the accountant to pay attention to the prices, debit and credit the budget and do long-term projections involving seasonal and product trends as well as the productivity of each store. By integrating the company, Kathy is enabling her business to grow while giving her more freedom to spend doing the parts of the business that she
This is so any extra funds that are accumulated can go towards a new marketing strategy so that customers may be rewarded for being loyal to Kudler Fine Foods. A second action plan that may be needed to increase revenue is to increase the efficiency program. Here is where Yvonne Reynolds along with the inventory manger will have to find out how to decrease the amount of food that is being kept therefore; the company can save funds to create better and improved marketing strategies Lateral Collaboration and Vertical Collaboration Kudler’s management team has worked to develop a plan for transforming the stores and its employees to align with the mission and vision statements. The purpose of this strategic direction is to clearly state the major areas of focus for the organization. In order to achieve its objectives it is of utmost importance that Kudler have reliable lateral and vertical collaboration.