January 28, 2014
Kudler Fine Foods Market Research
Kudler’s founder, Kathy Kudler, was the Vice-President of Marketing for a large defense contractor. The upscale specialty food store was built on marketing research. Kudler’s premier research was essential in developing the Kudler Fine Foods marketing strategy and tactics; undoubtedly research is vital across the board. Certainly the marketing research conducted from the initiation of the business plan for Kudler, was extensive. Kudler is located in the metropolitan area of San Diego, California; and has three locations (Kudler Virtual Organization, 2011). Each location will require its own marketing strategy and techniques, although the goal of advertising Kudler Fine Foods is the same overall, there will certainly be a variance in the way each location is marketed overall.
The Research conducted was essential in determining the various tactics that would be utilized between the three locations, when marketing products, merchandise and services (Kudler Virtual Organization, 2011). Furthermore, because each location would surely require slightly different format for each based on the customer base, or targeted market for the area; the approach must be precise.
Kudler’s grocery store has experienced significant growth, and their current focus is on elevating its services. The goals of their strategy were founded on improving the efficiency of all operations; Kudler’s tactics strengthen as well as increase the consumer purchase cycle (Kudler Virtual Organization, 2011). Kudler’s consumers have taken notice, and are excited about what the store has to offer their community. In attempt to accomplish these goals, the marketing department developed three specific marketing plans that will be implemented to improve profits and sales as well; this is done in attempt to reduce costs (Kudler Virtual Organization, 2011).
First, Kudler’s plan to increase revenue in each store by holding customer appreciation events to showcase preparation steps for creating meals with their fine foods. Customer participation will be encouraged through incentive programs. Customers will be entered into a contest that awards high-ticket prize winnings (Kudler Virtual Organization, 2011). Each location will assuredly gain customers interest, and peak their interest to the products and services. Customers will receive the benefit of taking part in the development and future of the premier organization.
Second on the plan to initiate development in the organization, Kudler will also encourage customer shopping trips, as well as increase the level of commitment from Kudler customers through initiating a loyalty points program. This marketing plan with calculate the customer’s purchasing habits and allow Kudler to target to specific customers. Kudler’s current information technology databases have a system that collects internal sales data. This data collected is essential in enhancing the system, and evaluating demographic information and buying trends of each customer (Kudler Virtual Organization, 2011).
Third, is an innovative move on behalf of the company, Kudler will be upgrading their network to provide more efficiency to overall operations (Kudler Virtual Organization, 2011). In preparation, Kudler must outfit technology for two new store openings; and from a managerial perspective, have all technology in place and operational prior to the opening of those locations. Kudler has taken the lead exemplifying the benefits to remaining innovative in fine food industry.
Because the mission at Kudler Fine Foods is to provide an enjoyable shopping experience, there are a few areas the marketing team immediately identified as key areas. The key areas are where added market research has been considered very necessary to Kudler’s marketing strategy in its entirety (Kudler Virtual Organization, 2011). Marketing is essentially vital to Kudler, and it