Use for this task Subway and McDonalds. The marketing concept of the Subway is based on the idea that they can best meet their objectives by concentrating on customer needs and satisfying those needs better than competitors. Principles of the Subway • Understanding consumer needs. Markets change rapidly and so it is essential that organisations constantly look for new product and market opportunities. The Subway is constantly promoting new sandwiches.
For each factor, indicate its significance. Provide support for your answer. Evaluate whether or not the business strategy is dictated by the industry or type of business. Provide an example of an industry and your rationale. DQ 2 : "Panera Bread" Please respond to the following: Evaluate Panera Bread’s strategy and its effectiveness with executing the strategy within the competitive fast-casual restaurant marketplace.
Strategic planning is crucial at this stage and there are tools available to help any business perform the analysis needed to succeed. Kudler Fine Foods is an upscale food store specializing in foods and services that appeal to a niche market; gourmet chefs and gourmet chefs in training. The firm had good initial success with its first two stores, but its third store is suffering with lower than expected sales. The firm wishes to continue expansion and increase profitable growth. Before moving forward the company’s owner, Kathy Kudler, needs to understand her company fully and have accurate knowledge about the firm’s internal and external environment.
Kudler has created a niche market. Kudler uses innovation and customer-oriented strategies aimed at the bargaining power of customers, the threat of substitute products or services and industry rivalry by offering products and services for customers that go beyond other food stores. Kudler offers foods from around the world including making available any specialty items that customers might request; they have initiated a frequent shopper awards program and offer cooking classes that persuade customers to shop with
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. “Marketing has encouraged the purchasing department to find ways to reduce costs of ordering foods and minimize
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
Grocery.Edu Analysis Consumer Behavior Final 2011 Kristen Rock 8:30-9:20 April 25, 2011 Executive Summary Currently, a major grocery store chain, “Grocery.Edu” is considering whether or not it would benefit by calling Manhattan, KS their new home. And if so, they need help in making a major decision: Where do they start digging? As with many businesses, there are concerns of the competition, so I have conducted some analysis of the other major grocers in the area, in order to provide more information to encourage the new company to build in Manhattan. In the analysis of the other major grocers in the area, Dillon’s and Hy-Vee have a relatively similar consumer. They are both brand-loyal, and value the quality of produce offered by
Running Head: MARKETING Marketing Raven Harvis University of Phoenix MM/PBL502 November 28, 2011 Abstract Kudler Fine Foods is interested in expanding its service offerings to add a catering service in addition to the in-store parties that it currently offers. This paper will discuss eight areas related to this decision. First it will assess the relative value of the three pieces of market research. Second it will explain the components of the marketing mix of Kudler’s new catering service. Third it will explain how Kudler Fine Foods should determine the products it wants tooffer.
It may involve the use of questionnaires, interviews with customers, experiments, and many other approaches (Perreault, Cannon, & McCarthy, 2009, p. 202).” Kudler Fine Foods must perform quality marketing research if they hope to remain successful with their current stores given the local competition from other stores in the area. Market research also includes the process of systematically gathering, recording and analyzing data and information about clients, rivals and the market. Its uses include helping create long term business plans, launching new products or services, fine tuning existing products and services, and expanding into new markets. Market research can be used to determine which additional areas of research are needed for Kudler in the areas of customer satisfaction, and a need based analysis to determine if expansion of a new store is necessary or continued growth and development of existing locations. The customer service satisfaction survey that is currently in place on the Kudler website will help to identify what the customer’s like and don’t like about a minimum number of variables but market research needs to also include other vital information like culture, socio-economic background, health, and other marketing mix elements.
To be competitive businesses will have to research local competition and set prices as-well-as stock product that will compete with any other businesses in the area. Kudler Fine Foods must research the San Diego metropolitan area and see what other businesses are comparable to what it desires to offer to the consumer. Kudler Fine Foods must be willing to offer a wide enough variety of specialty foods along with the array of food preparation services available. The loyalty program that is considered appears to be a popular program that has evolved in recent years. Kudler Fine Foods is wise to implement this system to attract new and keep current