Analysis of Marketing at Kudler Fine Foods
Analysis of Marketing at Kudler Fine Foods
MKT421
July 22, 2013
Analysis of Marketing at Kudler Fine Foods
Marketing research and competitive intelligence can be a significant factor in a successful marketing strategy. As Kudler Fine Foods gears itself for further growth, these areas will require additional focus. The existing marketing program at Kudler is examined, past market research and competitive intelligence discussed, and recommendations made for additional market research.
Summary of Marketing at Kudler Fine Foods
Kudler Fine Foods is a California based upscale specialty food and wine retailer owned and operated by its sole-proprietor, Kathy Kudler. The company has experienced significant growth since its inception in 1998. Kudler maintains three retail locations in the San Diego area. They pride themselves on offering the very best domestic and imported gourmet food and fine wines. All three stores offer a selection of fresh bakery and pastries, fresh produce, fresh meat and seafood, condiments and packaged foods, and cheese and specialty dairy products (Kudler Fine Foods, n.d.).
Although Kudler does not have a dedicated marketing department, they have developed a sales plan for the year. Kudler is currently focused on expanding the services, improving the efficiency of its operations and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers (Kudler Fine Foods, n.d.). There are three major components to the sales plan. The first focuses on customer satisfaction and loyalty through expanding services, including in-store cooking parties, prize incentives for inviting others, and offering customized in-home classes. The second component also focuses on customer loyalty through a frequent shopper club that will be tracked through the Point-of-Sale system. Loyalty points will be given to be redeemed for high-end specialty foods and wines and other gifts. The final component is to improve operating efficiency and customer service to increase customer value. Kudler plans to use Nordstrom as a benchmark. They will focus on employee training, software that includes development of a new customer management system, reducing purchasing costs, reducing excess stock while maintaining 95% stock availability through implementation of a supplier relations program.
Marketing Research
Importance
Marketing research is collecting data related to a specific marketing problem that an organization encounters (Armstrong & Kotler, 2011). According to Marketing by Kerin, Hartley, and Rudelius (2011), “Marketing research is the process of defining a marketing problem and opportunity,