Kudler Fine Foods Frequent Shopper Program Overview of Kudler Fine Foods Frequent Shopper Program The Frequent Shopper Program is an integral part of Kudler Fine Foods overall sales plan. Kudler Fine foods customers are rewarded with high value incentives via accumulated loyalty points. These loyalty points are awarded by tracking individual customer purchasing habits. This purchasing behavior data will then be used by Kudler Fine Foods to refine its product offering to best satisfy its high value customers. Price is not the primary purchase decision factor for Kudler Fine Foods customers, so instead of offering every day discounts points will be redeemable for high end gifts such as travel discounts or upgrades or other specialty foods.
The new system will keep track of purchases for each customer and accumulating points in order for them to redeem special coupons, vouchers, and other redeemable items. It can also be used to obtain special member sale prices on certain items. Currently, Kudler Fine Foods does not have an automated system that keeps track of their inventory and all other business transactions. Everything is manually tracked, which takes time, manpower and is not cost effective (University of Phoenix Material, 2010). There are different factors that Kudler has to consider prior to creating a design for the new frequent shopper program.
To do this, organisations need to be aware of the following: * Identify what customers are buying and what benefits they purchase * Understand why customers will or do purchase * Know when customers are likely to buy By knowing the customer, organisations can plan to meet their needs. Some other aspects they affect consumers purchasing decisions are: * Location * After sales support * Presentation *
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
The intended goal is to find out ["find out" is a "phrasal verb," two words that together mean something different from their individual meanings--looking up each word in the dictionary would not produce the meaning, which could cause misinterpretation in an international business communication. Use other words, like "discover" or simply "found"] how changes in each category of the marketing mix affect sales. Kudler Fine Foods is consistently shopping the world for new fine food products to put on its shelves. For Kudler it is important to know which products will sell and which products aren’t [Contractions are inappropriate in academic writing--write it out] worth investing in. Marketing research will uncover for Kudler not only the products desired but [For parallel construction, "not only" must be followed by "but also" later in the sentence] the price consumers are willing to pay for each item.
Unit 3 Homework sheet Product trial and repeat purchase 1 Product trial is a way in which businesses raise awareness of new products. (1 mark) Select one answer. The most likely method used to encourage product trial would be: A high prices B reminder advertisements C selling the product online D free samples 2 Businesses that achieve success over a long period encourage customer loyalty and repeat purchase. (a) What is meant by the term ‘repeat purchase’ ? (2 marks) When the consumer buys the product from the same brand more than on one occasion.
are ways to give the consumer a choice on how they want their shopping experience to go. With all the people that embrace these new technologies, there are many who would rather do business the old fashioned way, without all the bells and whistles. For this reason, companies need to accommodate all types of consumers and be sure that the technologies do not overwhelm the product. Inventory control is another important role for technology to have a place in retail management. Software that can help stores understand why they seller don't sell are important to keep costs low throughout the company.
Price for the product • The product is a marketing communication vehicle. It carries information and persuasion yes, and it delivers an audience (w/profile) to customers/advertisers First 3 bullets are not strategic dimensions, they are outcomes of strategic decisions What is the significance of the problem to the subject? • Click-through (CTR) business model is gaining popularity over MedNet’s impression model (CPM). • MedNet’s Ads - Clients are concerned about the value generated for the money spent. • Competitors like Marvel are wooing customers with low cost per click-through • Condition-specific websites like cholesterol.com has a better chance of converting a visitor to a customer.
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.
One of the marketing strategies that ensure the company of long-term profitability is the personal relationship built with the customer base. Customers will not have the same shopping experience with large grocery stores. If there are items that customers would like to have available in Kudler stores they are able to communicate that to management. Management can then relay the data to Kathy Kudler who will search the world for the best available items to satisfy the customer. People will not have the loyalty they get from Kudler at other grocery marts.