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
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.
Marketing is the most important key to business success. Kudler Fine Foods should review the strategic plan viewing in on the budget and marketing surveys. Advertising increases that the Kudler Fine Food has what the market wants and needs and by the customers satisfaction survey it will gain knowledge to the company on what they need to continue
The innovation strategy best aligns with Kudler’s vision in creating a competitive advantage over other gourmet food stores. From a BTM perspective the chosen strategy will allow the company to expand its catering business, introduce marketing tactics, open new locations, reduce inventory turnover, and create customer
Companies do this by gathering information about other similar companies, customers, and products. Competitive intelligence information is used in the decision making of managers and executives to support strategic decision making for the company. It is important for Kudler Fine Foods to know what their competitor is doing for several reasons. First, if their competitor is offering a promotion to the public that is attracting more business, then Kudler Fine Foods will want to offer something along the same lines so more business will sway in their direction. Second, although the company may feel that they offer the best product, if the public feels that the competitor is offering a better product, they may want to consider changing their supplier of certain food products.
Strategy Assignment Kudler Fine Foods has been through major changes, in which the changes have created advantages for the organization. Companies use information technologies and develop strategies and tactics to help them grow, lower cost, maintain a strategic and competitive advantage. Kudler Fine Foods have properly used the technology available to the company so that it will be beneficial to their growth and overall success. This paper will identify how technology has created business opportunities for Kudler Fine Foods. In addition, this paper will identify the generic strategy Kudler Fine Foods is pursuing, and based upon the generic strategy, this paper will identify some tactics the company should implement to realize the generic
Kudler’s Fine Foods Finance and Accounting Systems Business Systems BSA/310 Kudler’s Fine Foods Kudler Fine Foods is a spirits, fine wines, and upscale specialty food store offering customer both domestic and imported products. Kudler Fine Foods mission is to use their experienced, helpful, and knowledgeable staff to “shop the world” for the finest products, giving customers the choice of aspiring to purchase the finest epicurean delights. Kudler Fine Foods uses management, operational, and supporting processes to achieve this goal. This paper will focus on Kudler Find Foods finance and accounting business information system, which is part of the supporting processes. Supporting Processes
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
In conclusion, Kudler Fine Foods needs to follow the above career plan in order to be successful in this type of market. When following a well developed career plan, a company has the possibility to grow and to succeed. When you really think about it, a well developed career plan is the backbone of any company. References Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2008-09 Edition, Advertising, marketing, Promotions, Public Relations, and Sales Managers http://www.bls.gov (visited July 23, 2010). Kudler Fine Foods (2003).
Because of the success of the operation, Kudler Fine Foods is interested in developing a system to track customer purchases through a Frequent Shopper Program to award loyalty points for redemption. The objective of the project is to design a system to track customer purchases. Purchases will be tracked and accumulated as loyalty points