Rivalry in the grocery industry is a strong competitive force for several reasons. First, companies are using competitive weapons such as sales specials, coupons, company card to save additional money, and high use of advertising. Second, customers switching cost is low. Last, competitors are becoming equal in size and therefore able to achieve similar results. In this case, Winn Dixie, Publix, and Wal-Mart are the main competing firms within the industry in my area.
According to Vitez, O. (1999-2012) “The biggest impact IT has made on accounting is the ability of companies to develop and use computerized systems to track and record financial transactions. Paper ledgers, manual spreadsheets and hand-written financial statements have all been translated into computer systems that can quickly present individual transactions into financial reports.” Kudler’s Fine Foods REMS uses each module in the system to track, analyze, and report information to other business systems within Kudler’s for the purpose of marketing to the appropriate market, producing product cheaper and much more efficiently, and allowing each department better understanding of fund available. This has an impact on the organization structure so that time and money is not wasted and also has an external impact as customer are better serviced because the REMS allows Kudler’s employee to narrow in on the customer’s
Marketing Kudler Fine Foods Nanette Chambers MKT/421 July 8, 2013 Marketing Kudler Fine Foods In the current retail food industry there are numerous competitors struggling for the same dollar. It is vital for each business to recognize their target market, recognize their competitors and then put together their marketing plan. The information below will detail Kudler Fine Foods marketing strategies which consist of increasing its services, improving its effectiveness of the business and increase consumer purchase cycle. This paper will also talk about areas where Kudler Fine Foods needs to expand their market research. Kudler fine food is a store that markets fine foods and needs to bring about increasing their goods to the
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
Search engines are the driving source for online shopping. When consumers can type in a name of a product and click search hundreds of stores come up with pricing of the product. People like choices, and would rather search through the web for the best product and pricing. Associability plays key role in the success of companies. Companies have to pay a huge price to have their store front at the top of the search list.
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
5/2/13 BSA/310 Frequent Shopper Program Kudler Fine Foods created a frequent shopper program which gives customers incentives to continue shopping there. Their rewards are determined by how much is spent on groceries and how frequent purchases are made. “Frequent Shopper Program proves the ability to gather data for marketing programs and run promotions for the loyal customers.” (Frequent Shopper). Web based advertising would allow for major cost reduction and provide helpful and effective consumer awareness about said products. In order for Kudler Fine Foods to develop a functioning frequent shopper program, it must track and monitor consumers shopping behavior.
The reason of all the expenditures can be done by the financial determination of all the expenses. The budget can be determining the expenses and revenue from the previous year. If the revenues will be higher than last year, the expenditures will be a plus for the store. The comparables of the revenue with the sales plan of the store will be another area to focus. The process of attracting new customers can be an alarming duty for any business.
Marketing Strategy and Tactics MKT 421 September 20, 2011 Raymund Ferrer Marketing Strategy and Tactics In today’s business world, market research, marking mix, and the management of marketing is focused on planning and strategies. Market strategies serve as the basic foundation of marketing plans designed to fill market needs and reach the marketing objectives. Marketing strategies is also related to the marketing mix. The main objective for the paper is to define and describe the importance of Kudler Fine Food’s marketing strategy and tactics. Also to examine the importance of marketing on Kulder Fine Foods in a virtual organization gourmet grocery store experiencing huge growth and is focusing on expanding
Your shoppers must always be able to find these necessity items in stock whenever they are needed. These much needed products include household cleaners, health and beauty items, paper products and food items. As the current market structure of the dollar general store is important we look at the effect of government regulations. As seen in the last couple of years, DG has started offering advanced in-store services to their employees which in turn is passed to the consumers. However, more services can be added to attract consumers the best thing any business person can do is to get familiar with the country that you’re targeting.