Kudler Fine Foods Ã¯Â¿Â½ PAGE Ã¯Â¿Â½2Ã¯Â¿Â½
Kudler Fine Foods
University of Phoenix
Kudler Fine Foods is an upscale store that sells gourmet items for gourmet cooks. Kudler has three separate locations and a solid customer base. However, if Kulder is to expand to more locations and increase the customer base, new marketing strategies need to be developed. Research and development, competitive intelligence and the importance of marketing research will all be discussed as it pertains to Kudler Fine Foods.
Developing new marketing strategies and tactics can be a very exciting venture for a company. However, the problem for many companies is that they get wrapped up in the excitement and forget the intricate and critical detail of conducting marketing research. There is a possibility that Kudler's founder, Kathy Kudler, may have fears about such research and is choosing to ignore its importance.
Kudler's new marketing strategies are based on what seems to be a powerful strategic objective aimed at increasing the loyalty and profitability of consumers.
The company plans to do this through three marketing tactics including the expansion of services, a frequent shopper program, and increased efficiency. Kudler plans to expand services by providing cooking classes primarily to existing customers who will receive training by world-renown chefs, local celebrities, and other food experts. Examining the plan and data presented, one cannot determine whether or not the cooking classes will be of no cost to the customer. The reason this is important is because according to survey results for 2006 and 2007, customer satisfaction regarding the return for the monetary value of the merchandise being sold was significantly low. Between the last two years, over 54% to 60% of customers believe that the products sold were not a good value for the money they paid (Kudler Fine Foods, 2007).