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.
They will regular have special offers on within stores around the country also. Tesco’s sales promotions are the Clubcard points and school tokens. The Clubcard points try to make shopping better for their customers. This type of promotional technique attracts the customer who is looking for discounts and other types of saving options. The school tokens are a good sales promotion because to get this sales promotion you have to buy products from the store to a certain price.
A potential opportunity that they could explore is to utilize self-checkout terminals in their locations. Self-checkout point of sale terminals could do many things to improve Kudler Fine Foods as a retail competitor. First, it would improve their customer service as many customers prefer to check themselves out rather than having a cashier. In today’s technology environment, “…systems can be tailored to better fit any retail environment and are more focused on improving customer service rather than cutting labor costs” (Murphey, 2009, p. 1) . Even though the prime focus of these systems is not necessarily to cut labor costs, often times they can improve efficiency.
By implementing a frequent shopper program Kudler Fine Foods can do just that. By delivering customized incentives to its customers rather than discounted items Kudler Fine Foods will set themselves apart from other markets. Kudler Fine Foods can expect to see several benefits from establishing a frequent shopper program. The expected benefits from establishing the frequent shopper program will benefit both Kudler Fine Foods and its consumers. The consumers will benefit by obtaining the quality goods Kudler provides as well as customized promotions based on personal shopping patterns.
This is also another way of attracting customers into the retail shop and also get them to book a holiday. Merchandising and point of sake can be done by having brochures, putting displays on windows and also displaying posters. The brochures have to be check on a regular basis to see that they have enough on the floor. The difference with call centres agent is that they are able to display their merchandise so they will have to do it whilst on the phone. Also retail agents change their displays so that they are able to sell different product and services.
While it may seem nearly impossible to walk out of Wal-Mart with your sanity intact, it can be done with a little advance preparation. Creating a list of needed items, going at an off peak time, and setting yourself a time limit on how long you will spend in the store are some ways that you can make the otherwise unbearable task completely doable. Creating a list of the items that you need in advance is critical to maintaining focus and more importantly, your sanity, when going to Wal-Mart. There are many ways to create lists. Some people use their smart phones to jot down items in their notes while others lean towards the old tried and true method of pen and paper.
Kudler provides surveys for the consumer’s on their shopping experience which is not nearly enough. They need to conduct surveys in English as well as in Asian languages to gather as much data needed. They can also promote brand awareness by offering some samples of the gourmet foods and fine wines offered. Sponsoring certain events will also help promote business and promote their products. FJR has discussed the research with management and highly recommends that they do not open any new locations until further research has been done in other areas.
Having an online website is great advantage as It allows customers to shop at all hours and have access to purchase all products. If for example you go into to buy a product and it is out of stock you have the option to go online and still get what you need. Additionally, the option to shop online addresses the various different customer demographics, such as individuals who are disabled, as online shopping could make shopping for groceries and other necessities a lot easier for such individuals. Therefore it is evident that technological factors have increased customer satisfaction by providing customers with an alternate shopping method. The stores can be affected in either a good or bad way by Technological factors.
Food cost managers will generate sales forecasts to reduce the carrying costs of inventory. Perpetual inventory management will track all in store inventory transactions. This includes ordering, receiving, selling, cycle counts, and inventory adjustments. An automated inventory system would allow Kudler fine foods to meet current and future customer demands. This would also save money on hiring and training employees to order products for the stores.
Controls need to be in place to prevent fraud and error from occurring. The number of vendors a company purchases goods or supplies from should be limited. Repeat purchases from the same vendors and suppliers will provide routine transactions that are much easier to track and will provide a faster cycle time. Using the same vendors will provide familiarity of the company to the vendor allowing more accurate quantity. When the vendor is familiar with the needs of the company it will reduce fraud and the number of transactions, which will make purchasing goods easier to track.