Marketing Research: Kudler Fine Foods
Kudler Fine Foods has continued to grow and is now poised to make significant internal changes to increase revenue and customer satisfaction. Kudler Fine Foods is a gourmet grocery store and recent market surveys have shown they have continued to exceed customer 's satisfaction in every area except one: the cost of merchandise. By exploring ways to reduce costs Kudler Fine Foods will experience an increase in customer satisfaction.
The Importance of Marketing Research
Market research plays an important role in every aspect of an organization 's strategy of expansion and diversification. Since Kudler Fine Foods is expanding services then it needs to know about their competitors. Market research
…show more content…
The Importance of Competitive Intelligence and Analysis
Utilizing the benchmark process to determine best practices will help key decision makers in developing streamlined production processes. Competitive intelligence and analysis will help it to formulate ways to stay ahead of its competitors.
Using benchmarked data, Kudler Fine Foods can "reduce costs of ordering foods and minimize the amount of food to be stored, while also having a zero stock out policy
[and develop] a supplier relations program
" (Apollo Group 2, 2005) These initiatives will reduce Kudler Fine Foods ' internal costs which can be passed on to the consumers.
Considering that 42% of polled customers over a two year period feel that their purchases are not worth what they are paying, this should be an item of concern. More value for the dollar is what consumers want. While this is difficult in the gourmet industry, those that shop gourmet foods should be aware they are getting a superior or even unusual item.
Summary
Kudler Fine Foods has experienced growth in all areas except customer satisfaction with their pricing. By focusing on ways to reduce internal costs then product costs can be lowered enough to appease current customers and attract new ones. The culminating effect of this one action will generate an increase in sales, customer returns, and the overall shopping
convey the information to the sales and marketing division to provide an opportunity to plan future marketing strategy. The ability for Kudler Fine Food to expand its business is part of the successful implementation plan with the potential of adding software and hardware as the need arises.
Kudler Fine Foods is a gourmet grocery store. KFF sells meat, produce, cheese, and wine. They also provide catering services. KFF
A frequent shopper program can be a successful tool is used correctly by a company. The difficult task will always be bringing in new costumers. This program should allow for the retention of existing customers with Kudler Fine Foods. A rewards points system should be used for the exchange of
In 1998 Kathy Kudler, who specializes in gourmet foods, founded Kudler Fine Foods; opening the first location in La Jolla California. Later Kathy opened two additional locations; in 2000 Del Mar and in 2003 Encinitas, California. Kathy had an idea to offer a shopping atmosphere for those people who cook gourmet style. Kudler Fine Foods would carry a variety of seafood, meats, produce, dairy, cheeses, and wines. For the convenience to the customers, Kudler Fine Foods has separate departments; meat and seafood, bakery, produce, cheese and dairy, and wine. Each department
Kudler Fine Foods is a chain of specialty food stores that provide the finest food and wines to the general public. There are three locations of Kudler Fine Foods:
Kudler Fine Foods has had great success in the past and present with its mission and sales. Since its first upscale store opened in 1998, Kathy Kudler (Founder) has expanded and opened stores in two other locations. So, to further expand its operation, Kudler has decided to express interest in designing Kudler Fine Foods Frequent Shopper Program. This shopper program should
Within the next 12 months, Kudler Fine Foods plans to increase customer loyalty by offering added high-margin services, leveraging a better understanding of customer purchase patterns, and providing more efficient operations. Kudler Fine Foods also plans to increase the customer base through social network marketing, word of mouth, and increasing profitability by cost reductions initiatives. In view of this
Kudler needs additional market research in the control, monitoring, feedback to evaluate the plan. The marketing strategy will prove success if the company finds new ways for consumers to think of Kudler first when it comes to gourmet and fine foods. Kudler’s products have to stand apart from its competitors to appeal to people. The right price, placement and promotions for the gourmet grocery store will give the stores an advantage over its competition.
Kudler Fine Foods is an “upscale specialty food store located in the San Diego metropolitan area”
Kudler fine foods are a high level specialty food store with the finest series of food and wine. The storehouse is dedicated to offering top class foods to their consumers. Kudler fine foods would love to make an innovative program to follow any customer acquisition through a frequent shopper program. The frequent shopper program would gift loyalty points and give the chance to convert those points towards Kudler fine food products. The frequent shopper program will store customer purchase behavior, demographic information, which will assist in any promotions and store
Kudler Fine Foods has several issues that can be analyzed and broken down regarding how the problem started. From finding the root of the problem, the gourmet market now has several issues to debate. The issues, with clearly stated situations above, can be directed into positive goals with a problem-solving approach for each. These goals are all attainable to move the company forward in a positive tier for financial success.
Kudler Fine Food provides its customers with information pertaining to their company via their internet site. The hours of operation and locations are posted. A short summary of how the company was established and became a reality is available on their home page. Listed on the web site is also a selection of the very best foods and wines available.
Kudler Fine Foods is a company that deals with bakery and pastries products, along with providing produce, meats, seafood, condiments, cheese, specialty dairy products, and they also package foods if necessary throughout their many locations within California. Kudler Fine Foods ultimate goal is very similar to all businesses alike, which is to have an excess amount of income over expenditure. According to what is stated on the Intranet for Kudler Fine Foods, their drive as a business, is to always maintain being the best in the business when comes to servicing customers with top high end products (goods and even services produced by Kudler Fine Foods). KFF will also have to understand what the needs of customers
Company records point out fresh meat, poultry, and seafood to be among the items people in Centralia spend the most money on. This representative 14.32% average plus the fact that meat quality is the second most important determinant of store choice can be seen as an attractive opportunity for Hi-Value executives to improve the quality of their butcher in order to attract more customers. Another opportunity for Hi-Value is to modernize their store to make it more attractive and easier for customers to maneuver around to make their shopping experience better. It may not be a bad idea as well to offer a greater variety of bakery choices along with fresher produce.