In 1998, Kathy Kudler founded Kudler Fine Foods. For a large defense contractor, Kathy was playing the role of the vice- president of marketing. In order to increase corporate pressure and globalization, Kathy found the other advantages and she felt that there was an opportunity for her to open a food shop in La Jolla. Within the first nine months of the store, it was on the peak of success and the sale ratio of the store was very high. The first year was profitable for the company. Now the company is going to plan to introduce its new product in the domestic as well as international market. The domestic market is Greece, and International market is Santiago in Chile.
The company can develop product positioning in the domestic market, Greece and International Market Chile by introducing low prices with high quality of the products in comparison to its competitors (Wrenn, Loudon & Stevens, 2001). The company should also evaluate the preference of customers and their type to understand the importance of the product in the market. The company should take care about the advertising and promotion of the products and introduce some personal selling and public relationship program to target the effective market for the product (Ries & Trout, 2000).
The company mainly focuses on the sociality and regional factors of the both the markets Greece and Santigo, Chile. If a company creates a successful positioning of its new product than it will be helpful for it as the strategy of positioning is itself sufficient to differentiate the new product (Kotler, 2002). Company can create brand awareness with this positioning. They can create a good image of company in the mind of their target customers by delivering a distinctive message through positioning strategy which will work as an effective advertisement of company attributes. A good public relation can be maintained by offering a distinctive image of company with the help of positioning (Marketing - Positioning, 2009).
The market of Greece is one of the best markets for the product of Gourmet Olive. In 2002 -2003 Greece holds third place in the consumption of Olive Oils and it is continuously increasing. The consumption of olive in the market of Chile is also very good (Joelson, 2005). Both the markets are very effective for the growth of the company because people prefer Gourmet Olive in both the countries.
The target customers in both the countries for Kudler Fine and Foods are the house wives, who use olives in their kitchen, children who love olive jam, chocolates of olive flavors, etc. Another target group is the companies, who make variety of products from olive such as oils, wines, fruit jams; cheese, nuts, etc. (Kerin, Hartely, Berkowitz & Redelius, 2006). The olive industry of Greece as well as Chile is very strong and the competition is very tough in both the market. Thus, it is essential for the firm to accomplish a market research in both the countries to understand the needs of each segment and what kind of product they prefer (Wrenn, Loudon & Stevens, 2001).
With the help of research the company can target suitable and effective customers for their product and evaluate the preference and needs to maintain their strong position in the cutthroat environment of competition.
For the success of the Gourmet olive, it is necessary for the firm to understand the needs of the market, so that company can effectively introduce the new product and customers can accept that product positively. According to the features of the product, gourmet olive is a healthier in comparison to other vegetable and fruit oils. The market of...