If the company wants to be successful, the store must decide what market the product will thrive in, what the competition is and how to market the product given the retailer’s available resources (Marketing considerations for small-scale specialty food producers, 2007). With Kudler Fine Foods’ emphasis on gourmet items, they have created a niche market for their products. Niche marketing allows companies to target a very specific audience and to give them exactly what they want or need (Levinson & Lautenslager, 2005). By conducting market research, Kudler Fine Foods can narrow in on the wants and needs of its customers. Market research is not something a company should do on its own.
The strategy permits price adjustments quickly and in smaller increments in order to maintain balance between profitability and price-sensitivity. According to Kanagal (2013), The psychological values … refers to ways that a product or service creates satisfaction and delight for a customer through psychological parameters, and have to be assessed for a given marketing offering and monetized to enable obtain the differentiation value. Psychological value could also be imputed to those marketing elements which have no direct monetary implication but provides a value to the customer. (p.84) The differentiation value offered by The Southern Point is highly psychological however we will emphasize our diligence to utilize local vendors and provide meals with fresh ingredients to speak to the customer’s monetary value as well. The factors we have identified in the pricing strategy will also help us to shape meaningful messaging to customers.
For example: A Service user cannot understand a menu when It is present in a list form , so we could help them make their choice by getting images of meals they would be presented with to eat. Also try to explain the importance of a healthy diet. If the dilemma was to be a reoccurrence or become a bigger issue at meal times, it would be a good idea to report it to the NIC or the service users case manager to then discuss other options available with the chef. 2. Each service user is different and they all like/ dislike different foods.
I think it is essential that the catering service also have that standard. This will ensure that there is no profit loss from make the decision to do these services. In order for them to be competitive they focus on value added services instead of discounting and subtracting profit. Another question could be what the value of the product or service is to the buyer. Kudler Fine Foods has a competitive advantage because customers already use their facilities for parties.
A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. The business that was displayed on our instruction sheet showed me the percentages of needs of the customer. • 75% want more children’s sandwiches • 82%want the shop to be open longer • 65% said that the staff were unfriendly • 50% said the contents of the sandwiches should be fresher • 80% said that they would prefer more wraps Analysing this information using SWOT there is an explanation for the strengths, weaknesses, opportunities and threats of the business. The strengths of this company is that 82% want the shop to be open longer, that proves the customers enjoy the service that is being supplied.
There are many strength qualities at KFF. The lack of competition and various selection choices for customers, the strategic locations give the business opportunities for growth. Incorporating good ideas along with experience food and manager experts will enable KFF to change their weakness and potential threats. Designing a sound technology foundation is needed in order of reducing all weakness issues. This will allow the team to manage all responsibilities, which gives Kudler no authority of making costly decision.
Mrs. Kudler recognizes the importance of word of mouth promotion, which re-enforces the idea of in store gatherings and cooking classes. Over time, the organization will increase profitability if these events are positive and properly promoted. This is best done when attempting to increase the customer’s value chain. Catering and the Local Growers Both the catering service and direct buying from local growers will potentially increase profit for Kudler Fine Foods. Making good use of real estate (using the in store kitchen for catering cooking) and improving efficiency/lowering cost (agile inventory system) gives the organization a competitive advantage in the gourmet food industry.
With the trends of healthy eating becoming more prominent in the marketplace, Chipotle has an advantage with their ability to provide the consumer with fresher products than their competition. Another strength of Chipotle is that they have a tendency to promote personnel from within the company. This allows the company to maintain their high standards by retaining employees who are knowledgeable about the product and expectations of the company and their customers. Ells stated that “we can teach people how to run a Chipotle…but you can’t teach someone how to be polite and hospitable and high-energy and smart and ambitious and curious and happy and respectful and honest and presentable and conscientious and motivated and infectiously enthusiastic” (Huffingtonpost.com). This prompted Monty Moran, co-CEO, to develop the “restaurateur program” which gives employees the ability to advance quickly through the ranks of the company.
Kudler is a well established name in the gourmet food market, but Kathy and her marketing research team needs to use the best strategies they can to stay ahead of their competition and to provide items that they customers are in need of and that they want. Using public information is part of competitive intelligence it is legal and it helps a business identify the next move of the competitor as well what they are introducing new to the market. The competitive intelligence and analysis will let the organization determine marketing strategies and opportunities that they can take advantage of to make there business a
When looking at the bottom line, this practice takes an employee away from working the register or counter as well as increases the costs associated with providing goods for no profit. As a manager, I support Kudler’s practice of offering the samples. I see that it makes the customers happy and our employees get to know members within the community. The event offers more social interaction than a traditional grocery store could offer. Although it may cost most to staff this event, my values and ethics tell me I should concentrate on what is most beneficial to my employees and my customers.