As the elasticity of demand for their products is flat Kudler could easily increase prices on new products and consumers would still buy them. They are missing out on a major opportunity to drive up profitability as a result.
Customer's Preferences for Selection and Unmet Wants
Large-scale retailers often rely on a framework of research to define the preferences and unmet wants or needs of customers by segment and audience (Thompson, Stanton, 2010). This framework impacts everything from the planograms used for laying out retail stores to the definition of pricing and discounting, including seasonal specials on given products (Thompson, Stanton, 2010). Kudler most likely does not have one of these for even the commercial chef market yet, and as a result is missing out on a very significant revenue opportunity. The use of these frameworks can greatly simplify supply chain coordination, store planning, and the development of store promotions. Kudler needs to address the lack of insight into the customer preferences and wants, and needs to build a framework to better capture and use them over time.
Customer Behavior and Purchase Patterns
Most likely Kudler does not capture the sales of bakery items, unique and hard-to-fine ingredients, chef supplies or any of the fresh fruits and meats they sell by customer name or any type of demographic indicator. They have no loyalty program to capture sales by customer to further analyze and determine how best to structure specials and promotions. All of these aspects of research could provide the company with a wealth of insight into customer behavior and purchase patterns. This is significant because the selection of new products to fit into these predetermined mixes of shoppers stand a better chance of...
Currently, Kudler has an Asian specialty produce department and a European-style bakery at all of its stores. After reviewing demographic data, Kudler may discover that a location under consideration has a large ethnic population and can use this information to revise the products it stocks to cater to unique ethnic food preferences in the community which may not necessarily be Asian or European. In Kudler Fine Food's current situation, it
Market Research at Kudler Foods Market Research at Kudler Fine Foods The catalyst of any successful business is the ability to quickly translate customer data in its many forms into a competitive advantage (Perreault, Cannon, & McCarthy, 2008). For Kudler Fine Foods, they have many opportunities to learn from their customers and grow their core business in the process. The intent of this analysis is to evaluate how the many concepts, frameworks
A third area Kudler needs to concentrate on is understanding the psychographic segments of their customers, including how they perceive themselves as part of a broader group (Wagner, 2010). This is essential for them to gain greater insight into how best to manage these key influencers as part of a broader panel and gain critical intelligence on how to position their business. Finally, it's very critical that any retail business have
Another important factor for Italy is the fact that, although the food and beverage market is shrinking, certain geographic areas in the country are experiencing a lack of this service. This can be used to perpetuate the public perception of scarcity, which can then be mitigated by Kudler's products. In creating a communications strategy for Italy, the two main factors to focus on are therefore nice markets, specific brands and
Kudler Fine Foods Marketing Analysis Kudler Fine Foods has made significant progress within a few short years. The small business was able to open two new locations to expand their gourmet food retail outlets. With the expansion of a catering division in the horizon as well, it has come time for Kudler Fine Foods to reevaluate their marketing strategies. The company will use the 4P method as the basis for their marketing
These two types of wine alone had contributed to 90% of the total export growth. Italy saw a major rise in wine production in 2007 which again came from growth in production of sparkling wines. "Trade committee within the framework of Consortium Asti Spumante (Consorzio dell'Asti Spumante) declared that in comparison with the previous year the sales of sparking wines grew by 11.9% to total 78.8 million bottles. Export figures
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