Additional Market Research
Kudler Fine Foods has an excellent business concept to provide organic and non-organic foods as well as wine, meats, and cheese to the customers. The company’s website stands out and has compliments the idea and feel of the upscale business the firm is trying to promote. However, additional marketing research could be implemented to select a submarket for the firm’s products and obtain a deeper analysis of customer needs. Kudler Fine Foods should do further market research to identify a submarket for the products that they offer. The information provided shows that they offer many of the same things that a regular supermarket has to offer. Though the products the company offers are great for diversity, they should still offer all their current product listings, but focus on specializing in one category to make their company stand out. For instance, Kudler Fine Foods could provide their customers with the current products they offer but emphasize in their marketing strategy that they offer every type of wine for all places in the world. They can focus on ensuring they can get any wine that their customers may want, even products often known to be hard to acquire. By doing this, they can move from the typical grocery store in the local area to a upscale firm that can provide its customers with delectable that other competitors lack product in. The company can also do additional market research to asset what their customers are in need of. Customers make the market and their point of view on products and services can help direct the business in implementing or refining their market strategy and tactics. Kudler Fine Foods would not want to offer a special emphasis on wine if the customer base does not call for a high-demand in wine. With additional research the business may find the area is lacking the product of a variety of meats and seafood.
Competitive Intelligence and Strategy Tactics
A great way to use competitive intelligence is to evaluate the different kinds of competitive situations that the firm has to encounter. Different kinds of competition will affect a company’s strategy planning in different ways, this evaluation is vital to devising strategies and tactics that will benefit the firm. Competitive intelligence is when a company gathers information and data and analyzes the findings on the competitors and the market to help make sound