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In this paper, I will discuss Kudler Fine Foods and the importance of marketing research as it relates to its strategies and tactics. I will also identify where additional market research is needed. Finally, I will discuss the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Foods.
Kudler Fine Foods
Kudler Fine Foods is a local upscale specialty food store located San Diego, California. The company has three locations (La Jolla, Del Mar and Encinitas). Each store has approximately 16,000 square feet of retail space located in fashionable shopping center. The stores are stocked with the very best domestic and imported foods. Every store is stocked and carries upscale fresh meats and seafood, baked goods, produce, deli, and dairy departments. 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).
Kudler Fine Foods has experienced significant growth and wants to expand its services, improve efficiency of operations, and increase the consumer purchase cycle. The ultimate goal is to increase customer loyalty and profitability of each shopping visit.
To accomplish these goals, the Kudler marketing department has developed three marketing initiatives that will improve sales and profits as well as reduce costs. First, Kudler plans to increase revenue in each store by holding parties to show people how to prepare specialty foods. To increase customer participation at these parties, the customers will be entered into a contest that allows them to win high-ticket prizes (Kudler Virtual Organization, 2006).
Introduce Frequent Shopping Program
Second, Kudler will encourage customer shopping trips and improve loyalty by introducing a loyalty points program. This marketing initiative will track the customer’s buying habits and allow Kudler...