Kudler Fine Foods Free Essays

Market research is a critical component needed for good decision making. In this paper, I will justify the importance of marketing research in the development of Kudler Fine Foods marketing strategy and tactics. I will also identify the areas where additional market research is needed. We will write a custom essay sample on Kudler Fine Foods or any similar topic only for you Order Now I will analyze the importance of competition intelligence in regards to Kudler Fine Food’s marketing strategy and tactics. Kudler fine Food’s Kudler Fine Foods is a gourmet grocery store located in San Diego, ca. Kudlers carries a variety of fine meats, fresh seafood, baked goods, fine wine a variety of cheese and more. Kudlers sells the absolute best domestic and imported foods. The owner, Kathy Kudler, opened the first of three stores in 1998. In 2000, Kathy opened a second store with a third store opening in 2003 (Kudler Virtual Organization, 2006). Marketing Objectives Kudler Fine Food’s have decided to expand its services, improve efficiency of operations, and also increase customer purchase cycle. The overall goal would be to increase customer loyalty as well as profit with each visit.Kudlers marketing department has developed three different marketing initiatives to improve profit and sales while reducing costs. Kudlers first plan of action is to host parties in each store to show their customers how to prepare gourmet specialty foods. To ensure customer participation, each customer will be entered in a contest and be eligible to win high ticket items (Kudler Virtual Organization, 2006). Kudlers second plan of action is to begin a customer loyalty program. The loyalty program is intended to encourage customers to shop as well as improve constancy.The loyalty programs track what customer purchase regularly therefore Kudlers is able to target specific customers. Looking at the current information technologies databases, Kudler foods has a system that tracks internal sales data but wants to enhance the system so they can track the demographic information and buying trends of each customer (Kudler Virtual Organization, 2006). Finally, Kudler Fine Foods is determined to improve customer service. In order to achieve superior customer service, Kudlers has developed training programs as well as software to train their employees extensively.Importance of marketing Research Kudler Fine Foods goal for the next year is to increase customer loyalty by adding other services, paying close attention to their customers purchasing patterns, and by having well trained staff to assist their customers. Kudlers success will be based on building long term relationships with their customers. Once the relationship is established, customers become loyal and loyal customers are the greatest type of customers to have. Loyal customers return frequently and often turn their nose to competitors.Strategies and Tactics Having strategies and tactics is imperative when developing an integrated marketing communication plan (IMC). In order to develop an IMC plan, the business marketing strategies must support the company’s mission statement. Kudlers is selling gourmet food, so they must focus on the best possible quality foods as well as outstanding customer service. Being a low price leader would not be part of Kudlers marketing initiative. Kudlers must stay focused on providing the best for their patrons and not sub come to being a discount store.Kudler will use both demographic as well as psychographic information to determine their marketing strategies. Psychographic analyses are used like geographic (place of residence or work) and demographic (age, income, occupation) criteria to describe and identify customers and prospective customers and to aid in developing promotion strategies designed to appeal to specific psychographic segments of the market for a product (Marketing Essentials, 1991). Competition intelligence Kudlers will receive information regarding their competition both internally and externally.Internally, the employees working directly with the customers may hear from the customers about sales or othe r promotions their competitors are focused on. The research and development department may hear of new patens. The purchaser may find out other companies caring the same merchandise. Externally, the internet is a great place to for Kudlers marketing staff to see what their competitors are offering. Conclusion Kudler fine foods offers a variety of fine foods and wines with an impeccable shopping experience. Market Research is an important aspect of marketing and should be used to obtain success in any company.Kudler Fine foods should continue to supply their customers with the items they need and keep them involved with future promotions.References Farese, Lois, Kimbrell, Grady, and Woloszyk, Carl (1991). Marketing Essentials. Mission Hills, CA: Glencoe/McGraw-Hill. Kotler, Philip, and Armstrong, Gary (1993). Marketing, an Introduction, 3rd ed. Englewood Cliffs, NJ: Prentice-Hall. Kudler Virtual Organization (2006). Marketing Overview. Retrieved on July 19, 2010 from University of Phoenix, Resource, MKT/463 Marketing Web site: https://ecampus. phoenix. edu/secure/aapd/CIST/VOP/Business/Kudler/IT/KudlerITDatabases001. htm How to cite Kudler Fine Foods, Papers Kudler Fine Foods Free Essays Firstly, it is necessary to mention that Kudler Fine Foods is a famous food store in a Southern California that offers its customer one of the finest foods and ingredients for home cooking. Actually, Kudler ensures one stop shopping for all customers meaning they are able to find all necessary products in one store. According recent marketing investigations Kudler is experiencing significant growth and it is going to expand and to work out new marketing strategies. We will write a custom essay sample on Kudler Fine Foods or any similar topic only for you Order Now    In the previous years only about 20% of customers were very satisfied with services provided, whereas more than 25% were fully disappointed. Therefore, Kudler Fine Foods is highly interested in working out such a system that would give customers an excellent opportunity to make purchases through so-called Frequent Shopper Program. So, the primary goal to achieve is to investigate customers behavior when purchasing at individual level and then to establish loyalty points program to make customers more interested and motivated in Kudler’s services. One more idea is to allow customer to redeem their obtained points. The next goals are to cut costs, to organize ordering procedures to save time, and to offer competitive prices. There will be a need to synchronize Kudler’s inventory. All the goals to be tracked and set are determined, achievable, real and measurable. Therefore, they can be used in evaluating the degree of success. The project goals should also include economic analysis, whereas special attention should be paid to analyzing costs and benefits. It makes Kudler rely on the economic stability and growth to prosper. With the economic stability the company will be able to get new resources for growth and specialization. The tangible measures for success are exploring financial costs, identifying necessary resources and setting the timeframe. There is a need to identify tasks and duties at individual level.   In order to prove that the current project is tangible and feasible, the company’s team should cover all the areas discussed. References Kudler Fine Foods. Retrieved August 13, 2007, from http://kudler.com/    How to cite Kudler Fine Foods, Essay examples Kudler Fine Foods Free Essays Statement of scope and goals Kudler Fine Foods will be developing a system that will track each customer’s individual purchases. It will be done through a program we are calling our Frequent Shopper Program, this program will award to our customers loyalty points earned through their shopping habits, that can be redeemed for gift items as well as other products and services with external companies with which we will be partnering with as well as through Kudler. Instead of offering discounts to our customers for their frequent purchases as is done in some of the lower end supermarkets, our customers are more loyalty due to their focus on quality of their food purchases and finding those specialty items that cannot be purchased at other markets, we will offer incentives designed for high end customers. We will write a custom essay sample on Kudler Fine Foods or any similar topic only for you Order Now The customers purchase behavior will allow us to tweek the process as we go through this program as well as making the best offerings to best satisfy our valued loyal customers for their frequent purchasing at Kudler. These points our customers will earn them high end gifts, specialty foods and airline first-class upgrades and many other exceptional products. Our sales department will receive in-depth training on how to analyze the data received from the purchases that we are tracking from our customers. This is a critical part of the insight to please our most loyal customers. We will use this data to offer products on our shelves that our customers come to purchase and expect at Kudler Fine Foods. This will allow us to look at the most frequent purchases of our customers and compare with their corresponding profit margin to fit them into our product mix. The tracking will be done through the customer’s phone number as well as a Kudlers card issued to the customer. This will make it possible to give the customer points earned even if they do not have their card with them. This could possibly change the products that Kudler orders and offers for the customer making sales at the locations more efficient. Supporting measures for success The project for Kudler will have two major points in determining its success for Kudler. The first main point will be cost for Kudler. Kudler will be making a long term investment with introducing this project and the project will need to be able to accomplish the goals laid out for it to be cost effective. For example one of the goals of this project will be to selectively stock the grocery store according to what the customers purchase. This alone could save considerable money in shipping and receiving of goods from Kudler suppliers. Secondly this will free up inventory space in Kudler for more in demand items. Which should increase sales of the in demand item and reduce waste by having to stock rarely purchased items that may go out of date before being purchased. The second major point to determine success of the project will be customer response to the project. Kudler is a high end grocery chain and each customer is needed to maintain a healthy profit margin. So their is a risk that customers may refuse to partake in the rewards program or even worse shop elsewhere if they dislike the idea of Kudler tracking their purchasing habits. However with the incentives being high end gifts and an opt out for customers that do not want to take part in the program their should be mainly positives with the program. How to cite Kudler Fine Foods, Papers