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 ...view middle of the document...
This marketing initiative will track the customerâ€™s buying habits and allow Kudler to target to specific customers. Looking at the current information technologies databases, Kudler foods has a system that tracks internal sales data but wants to enhance the system so they can track the demographic information and buying trends of each customer (Kudler Virtual Organization, 2006). However, when I read this I was a bit skeptical as I feel it is an invasion of oneâ€™s privacy.
Kudler Fine Foods has decided to use Nordstromâ€™s Department Stores as a benchmark. To help with this initiative, management is developing training programs and developing software that will facilitate the needed customer service training of employees. Studying the companyâ€™s current capital budget and information systems technology budget, the company will spend $91,715 on new software licenses to improve training (Kudler Virtual Organization, 2005). In addition the company has budgeted $45,000 for a new customer relationship management system or CRM.
Importance of Marketing Research
In the next 12 months, Kudler Fine Foods plans to increase their customer loyalty by offering added high-margin services, leveraging the better understanding of their customers purchase patterns, and providing more efficient operations. They will accomplish this through their suppliers of their food and beverages. By partnering and by purchasing larger quantities for bigger discounts. The key to Kudlerâ€™s success will be about building a long-term, profitable consumer base. Loyal consumers are usually more profitable due to frequent visits and are often insulated from the marketing efforts of competitors.
Strategies and Tactics
Developing strategies and tactics is important when developing an IMC. To develop an IMC plan, the company must insure that all marketing initiatives align with the companyâ€™s mission statement. When selling gourmet foods, it is more important to have the highest quality foods and customer service than it is to have low prices. Kudler must stay focused on this aspect at all times when developing new tactic and strategies as not to succumb to the pressures of the discount shopper. For example, our family used to own unique high end shoe stores in Southern California. They were run by two different family members with two very distinct management styles. Eventually, by one of the owners not aligning themselves to their Mission and trying to compete with discount stores the shoes store chain folded. In hindsight, management should have stuck to their mission by providing exceptional service and the finest quality shoes without going to a department store.
Demographic and Psychographic Information
Both psychographic and demographic information will be used to create the marketing strategies for Kudler Fine foods. Demographics measures of characteristics of individuals or households, such as age, sex, place of residence, or family...