Read on this essay’s introduction, body paragraphs, and conclusion.Kudler Fine Foods Virtual Organization Name University of Phoenix MKT / 421 April 18, 2011 Instructor Kudler Fine Foods Virtual Organization 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 shows advertisement to draw the attention of the customer. Kudler Fine Foods mission is to offer a large variety of selections, expertise, and knowledgeable staff giving the customer a joyful shopping experience. Kathy has a marketing background from working for a large defense contractor (University of Phoenix, 2010).
Developing the marketing background experience, Kathy can move the company forward and expand services. Kathy goal will to identify any areas of weakness and creating a marketing strategy, which will entail competitive intelligence and analysis. Marketing Research Marketing indicates the actions engaged in the progress of products and services from manufacturer to consumer. The development starts with establishing the wants and needs of the consumer. Kudler Fine Foods should create products to please the consumer’s wants and needs.
Kudler Fine Foods must make certain the desired products are available that the company knows when and where customers want them and Kudler Fine Foods informs potential customers of their availability.
Marketing also includes financing the behaviors that facilitate the exchange of products and services. Marketing is a key notion in business and every person involved can participate. Marketing helps to promote Kudler Fine Foods products offered to the consumer. Market research involves the collection and analysis of data relating to consumers and his or her buying behavior.
Market research attempts, among other things, to define trends in sales and sales potential for specific products or services, to identify those customers who are the most likely purchasers of the Kudler Fine Foods products, and to identify which factors motivate consumers to buy certain products. Market research also assists in determining how and where a product is purchased, thus enabling Kudler Fine Foods to develop the appropriate channels of product supply.
One of the most important determinations to be made in market research is who buys Kudler Fine Foods products, that is, who may benefit from his or her purchase and why. Demographics play a significant role in the research process. Demographics refer to population characteristics, such as geographic distribution, age, sex, family structure, and income. Marketing Weakness Weaknesses in a business is have the lack of marketing experience, area of the business, poor quality of products, or a poor reputation.
As with any competition Kudler Fine Foods must have knowledge of the competitors weaknesses, including their own, is an important aspect in building a successful business. Kudler Fine Foods should observe the competitors to see if they are keeping up with the current trends. Kudler Fine Foods would have an advantage to visit the competition to acquire a thorough understanding of the development, menu plans, pricing, promotional information, and class instruction periods.
If neighboring competition is not present, marketing researchers must venture out to observe the similar competition to compare information with his or her business. Much can be learned in other areas that could be worked into the day-to-day business functions. An in-depth investigation is required to decide if reduced cost actions can be put into practice. At this time, Kathy herself order the products needed for each of her stores, requiring her to work seven days a week and constantly move from location to location.
By observing the purchases made by the customers, and examine the contracts with the distributors, Kudler Fine Foods could cut down on the frequent ordering of products, giving Kathy more time to concentrate on other functions of the business. Competitive Intelligence and Analysis Competitive intelligence and analysis is an important part of a business. Competitive intelligence is the art of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, individuals, concepts, information, ideas or data needed to support executives and managers in making strategic decisions for a business.
This includes a broad array from government intelligence to market intelligence to business intelligence (Competitive Intelligence, n. d. ). Competitive intelligence can include competitor analysis, knowledge management, market research, and business strategy and business research. Competitive intelligence can be used as an everyday business tool to analyze stocks or look for weaknesses in the competitor (Competitive Intelligence, n. d. ). If Kudler Fine Foods is trying to figure out what it means for a small business it is seeing where or how the competition advertises.
Kudler Fine Foods should receive the competitors distribution list or sign up for any e-newsletters they may be sending to see what they are saying and what additional things they are doing to create relationships in the local area. If the competitor is a retail location, an employee of Kudler Fine Foods should visit it, see how the window displays are created, what kind of people are in the store, how much traffic do they receive, is the competition displaying any brochures, postcards, etc. hat promote other local businesses (MRC World , 2009). When researching the competition ethics plays a large role. Information obtained must be done legally. Obtaining information from an insider is acting unethically. Kudler needs to obtain information collected through the Internet, store visit, or customer surveys. The majority of the information should be collected by shopping the competitor; this will help to see how displays are created, store layout, special offers, products offered, etc. Conclusion
Kudler Fine Foods has created a strong marketing plan covering a strategy and tactics to build a stronger business. Kudler Fine Foods present marketing strategy has improved with creating a customer survey asking opinions and suggestions from the customers to help make his or her shopping experience more convenient. Kudler Fine Foods has also researched what the competitors are doing to keep up with the trends. Kudler Fine Foods is a growth oriented business that prides itself in constantly reaching the customers with honesty and integrity.
The company’s continual success and rapid development is due in part to the motivation to offer the customers with the quality products and service that he or she desires in a timely manner. Kudler Fine Foods are on their way to building a successful business. References Competitive Intelligence. (n. d. ). Competitive Intelligence. Retrieved from http://www. competitiveintelligence. com/ MRC World. (2009). Marketing Question. Retrieved from http://www. mrcworld. com/marketing-question/ University of Phoenix. (2010). Kudler Fine Foods [Computer Software]. Retrieved from University of Phoenix, Simulation, MKT 421 website.