A competitive marketing intelligence analysis is necessary because much can be learned from the competition’s successes and failures. This type of analysis is not, however, limited to the just the competition. The text, Marketing, defines competitive marketing analysis as the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment (Kerin, Hartley, & Rudelius, 2011). When collecting data and in order to make reasonable decisions, it is important to predetermine many
Moreover, this will meet the needs of customers and sales personnel, as well as marketing strategies to promote the new chocolate bar. A positioning factor will allow a solid plan and image that anticipates customer’s needs. However, the appropriate pricing strategy is necessary to stay in line with competitors. The chocolate bar will be accessible within price and within stores which will offer the new product. The first element of the estimating tool is it needs to be easy to access, as well as aesthetically pleasing.
Kudler should have a clear idea of what the data is to be used for and how it is to be treated. “Sure, a customer database has value, and a company can maximize that value in any number of ways -- growing the database, mining it, monetizing it. Marketers can be tempted, despite pledges about privacy, to use collected information in ways that seem attractive but may ultimately damage relationships with customers.’ (Davenport, et al, 2007) It is important to their success as a business that Kudler Fine Foods maintain their relationship with their customers. And by this they should maintain positive relationships with all of their customers. “Market analytics allow companies to identify their best and worst customers and, consequently, to pay special attention to those deemed to be the most valuable.
The frequent shopper program can become an effective tool in the attraction and retention of loyal customers. Rewards that can be traded for luxury items will have a great influence in customer loyalty and attracting new customers. A positive response from the public is important and in order to ensure that response, Kudler Fine Foods must find and develop a proactive way to approach the public’s privacy concerns. Preventing conflict with consumers regarding personal data and how it will be used is simply fixed by keeping the consumers aware of just how it is being used. The number one concern for Kudler Fine Foods must be security and privacy of their consumers’ personal
Surveys give customers the option to made comments and give complete answers and encourage participation in the future (Derham, 2001). Kudler Fine Food should implement a survey that asks questions allowing the customer to answer. Questions like: “Has our store meet your product needs”? , “If not what products would you like to see”? These types of surveys will help Kudler Fine Foods continue to keep products in stock that attract target marketers.
Analysis within a business should serve as a vital function. Enabling Kundlers to compare along with identify various similarities and differences of marketing strategies. This should be true for their own business and their competitors. The overall goal is ultimately to design an ongoing profile that shows the competitor’s possible strategies and responses in change the industry. Viewing Kudler Fine Food site from a consumer perspective shows their site is user friendly, easy to navigate, and has no broken links on the web page.
298). The focus for Quality Candy and the assessments team will be mainly on the service aspect. Quality Candy will need to get their name and products out there and become as well known as it competitors are in the industry and maintain the personal hometown touch that they have created here in the mid west. They can achieve these by expanding their business out of state, advertising, and improving the
This marketing initiative will track the customer’s buying habits and allow Kudler to target to specific customers. Looking at the current information technologies databases, Kudler foods has a system that tracks internal sales data but wants to enhance the system so they can track the demographic information and buying trends of each customer (Kudler Virtual Organization, 2010). Strategies and Tactics The company, Kudler Fine Foods, must insure that all marketing initiatives align with the company’s mission statement. When selling gourmet foods, it is more important to have the highest quality foods and customer service than it is to have low prices. Kudler must stay focused on this aspect at all times when developing new tactic and strategies as not to succumb to the pressures of the discount shopper.
P5 What is positioning? Positioning is very important that the business develop a specific marketing mix so that they can influence the potentials of the customers. This is something that will help the business to design they own brands in their own imagination so that it will meet the customer’s needs. It is very important that the business understand the customers point a view about their products so that they can improve on the products. For example this is including things like such as if the customers is going to choose to buy their clothes from a business like Debenhams as they might be trying to show that they are very happy on the product that they are selling.
Organizations such as the Food Marketing Institute are responsible and oversee the privacy of costumers, retailers, and policies. A written privacy policy would benefit Kudler Fine Foods since it would reassure their costumers that the company will act responsibly in protecting their privacy. The policy will also disclose to costumers and advise them that all information about their purchases will be collected, kept, and managed in the stores database. The decision for such information shared will be solely decided and authorized by the customer only. The customer will also have the option to opt out at any time of any frequent shopper program.