Kudler Fine Foods is a premium specialty store stocked with bakery products, meat and seafood, cheese, diary, and wine products. The stores are in the San Diego area with locations in La Jolla, Del Mar, and Encinitas. The organization has a mission to “provide their customers with the finest selected foodstuff, wines, and related needs in an unparallel led consumer environment” (Kudler, Mission Statement, p. 2, 2008). Kudler Fine Foods has its targeted market established. Marketing research allows the organization to implement an effective marketing mix that includes the 4p’s.
According to Pearce and Robinson (2011) by thoroughly developing and exploiting its expertise in a narrowly defined competitive arena, the company achieves superiority over competitors that try to master a greater number of product and market combinations. As stated in their Declaration of Interdependence: “Whole Foods Market is a dynamic leader in the quality food business. We are a mission-driven company that aims to set the standards of excellence for food retailers. We continually experiment and innovate in order to raise our retail standards”(Whole Foods Market, 2012). Through identified niche markets, WFM can leverage some of their customary strong points by recognizing innovated uses for current goods using market penetration.
The marketing strategy will present consumers with a line of fine quality imported or domestic foods or products. The marketing strategy will also include the introduction of a loyalty program in which will reward consumers with perks and savings for their continued support. In order to create such a program that will become popular with consumers, data will need to be collected and analyzed. This is where the marketing department will be spending a lot of time on. The expansion of the company will require additional market research in interested regions.
There are some key factors involved in the market research:- Location Competitors Target market Cost of products Services to the customers Time frames to complete the task Servey with the customers Collect the feedback. After considering the role and market research of business it is necessary to decide how the needs will be fulfilled. It helps us as follows:- The work is actually based on the collection of some information from the business nearby:- 1. There should be a team assigned to complete the research work. 2.
Outline the market research process and explain how McDonalds have used market research to improve their business. Market research it the process of gathering information in order to allow for effective marketing decisions. Market research is a four step process which involves determining information needs, data collection, data analysis and interpretation. McDonalds has responded to the changing wants of consumers through utilising market research effectively to satisfy the wants and needs of consumers through a number of strategies such through the use of qualitative and quantitative research which involves asking consumers the ‘why’ and ‘how many’ questions which consumers identified that they want more choice, with healthier and lighter food options, as well ass increased visibility in food labelling and more information about what they were eating for example how much fat, how much sugar and how much salt. McDonalds then creates the changes as well as communicating the changes across to consumers.
Marketing Planning 2BUS0145 Marketing Audit Gordon Ramsey Module Leader: Beejal Students: 13th November 2008 Introduction For this assignment we have chosen to do a marketing audit on Gordon Ramsey. We have chosen him from the two other options because we believe that we would be able to find more information on him. The first part of the marketing audit will include an external audit, including a Swot analysis and pestle analysis on Gordon Ramsey as a product himself. We will also refer to the products that he sells alongside of his successful food businesses. The second part of the marketing audit will be based on the internal, and a marketing mix and McKinsey Matrix Analyses will be constructed referring to Gordon Ramsey.
These customers may also purchase products to maintain a competitive edge over their markets competition. To achieve success in a B2B market the seller must have a great understanding of: Communication skills: Having good communication skills could
1. What are the chief elements of the strategy that Whole Foods Market is pursuing? The chief elements of the strategy that Whole Foods is pursuing include: Creating a differentiation-based advantage - Whole Foods attempts to distinguish themselves from the competition by focusing on selling high quality natural and organic products. They also promote sustainable agriculture and organic production. They also want to maintain a certain atmosphere for their customers while they shop so they have that great experience and want to come back, for instance natural displays and educational demonstrations.
Product development is the lifeblood of any food leading companies. Therefore, R&D should be the main focus in combination with good marketing strategy, which will maintain products quality and/or create new products that in turn create new customers. Creating and building brands involve various marketing strategies, which include promotions, advertisement campaigns and competition for display location at retail stores. A company should also take into consideration that their marketing strategies have to match its retailer stores strategies, for retailers will decide which products they want to be more appeal to consumers through their marketing channels. No stranger with these success factors in the food industry, CAGP had their own strategies.
! Acquisitions: Acquired smaller natural food outlets as well as competing chains that helped in not only expanding into new locations and markets but also gain complementary skills and valuable expertise. Whole Foods integration strategy helped in spreading the best practices across the stores. ! Industry Thought Leadership: Played a key role in challenging regular food safety standards and defining new standards while also educating