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.
This was done by arranging for senior managers to tour other local companies who succeeded in producing new commercial technology (Benchmarking), getting a better understanding of the day to day challenges and concerns of the front-line workers (Walking the floor), interviewing customers with focus groups to observe consumer needs (Focus group interviews), and identifying the overarching core problem(s) that causing this downward spiral (Identify problem). Consequently, senior managers were able to identify the current state. This is a step in the Beckhard and Harris model that is a key to determining the need for change. There would be a decreased sense of need to change and overall confusion as to what was going wrong without knowing where the company was standing externally and how the organization stacked up against the other organizations in the same industry. In addition, Global Tech needed an internal analysis, which explains the mindset behind people and
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
Research competitors and industry trends to create new ideas and incentives. Compete with competitors – Price matching. With accurate information and efficient communication within the business will ensure business continuance despite possible problems. 4.0 Reports: Identify the types of reports you would be required to review regularly in order to monitor business performance, why is it important to create and use this report and who would the report be written for. 4.1: Performance Report: This report shows how well/poorly a business is doing based on a current revenue, and can identify performance areas that may need improvement.
5/2/13 BSA/310 Frequent Shopper Program Kudler Fine Foods created a frequent shopper program which gives customers incentives to continue shopping there. Their rewards are determined by how much is spent on groceries and how frequent purchases are made. “Frequent Shopper Program proves the ability to gather data for marketing programs and run promotions for the loyal customers.” (Frequent Shopper). Web based advertising would allow for major cost reduction and provide helpful and effective consumer awareness about said products. In order for Kudler Fine Foods to develop a functioning frequent shopper program, it must track and monitor consumers shopping behavior.
Marketing research is important in the development of Kudler Fine Foods’ marketing strategy and tactics because it provides information that they can use to create a long-term business plan. For example, through marketing research Kudler Fine Foods can gain concrete information on how their customers feel about their product and services. They can then use the information they gathered to make adjustments to their business plan so it provides them with a better chance to meet their customer’s wants and needs. Without the information that is provided from marketing research Kudler Fine Foods would have to rely on conjecture in relation to the steps that they should take in developing a market strategy. Marketing research takes the guess work out of being able to provide products that their target market desires and provides information about what type of product changes are needed to increase their
Determine how best to use your company's strengths to overcome the strengths and overall performance of the competition you've found. How can you do even better? Possibly you'll have an offsetting strength that offers even more to customers. Start working on plans to develop your business into the dynamo you planned for it to become invest the time to double check your competitors for changes they've made. Examine the marketplace to make sure new competitors haven't found a way in without you knowing it.
Organizational Structure MGT/230 October 30, 2012 It is important to be mindful of your company's organizational structure because it provides you with information regarding who has power and over whom, how and why a company divides the workload by particular people and by groups. Understanding your organizational structure can also provide important cross-functional relationships to organize work efforts for the best results. It can show where breakdowns can happen in the hierarchy and assist in growing results for better accountability. In this paper, the discussion will be on the organizational structure of Wal-Mart and compare their organizational structure to the organizational structures of two other companies, such as Target
Role of Technology Paper Anthony Bando University of Phoenix BIS/318 Damien Edwards October 24, 2011 In today's business society, technology including hardware and software, is a critical role of all major businesses and corporations. Technology is essential in this current place in time to compete in the retail business. Technology can make the lives of a company easier as well as consumers who are willing to use it and save time and sometimes money. Technology can be in many different forms within an organization. Certain technologies enable customers and employees to communicate needs faster.
TLIP4001A ASSESSMENT ACTIVITY 1: How can examining future opportunities and directions help towards the contribution of a shared vision and values for the workplace, and the shaping of business goals and objectives? A customer service delivery plan is a strategic and tactical plan for achieving marketing objectives. It is a detailed document that determines how new business will be acquired and how the existing customer base will be maintained and strengthened. Customer service delivery plans are not just about targets and how to achieve/exceed these targets. ASSESSMENT ACTIVITY 2: Why is it necessary, as part of the planning process for customer service teams, to review previous performance and successful approaches and to identify factors affecting performance?