Kudler Fine Foods

Introduction

Market strategy plays a criticall role in every aspect of an organization's strategy of expansion and diversification. Kudler Fine Foods is a locally owned, specialty food store located in the heart of San Diego, California. The company has three locations, including La Jolla, Del Mar, and Encinitas. All three locations are nestled in a 16,000 square foot space, each in upscale areas of town. Each store is stocked with the greatest imported foods that include fresh meats, seafood, produce, baked goods as well as dairy and deli supplies. The store owner, Kathy Kudler, opened the first location in 1998. Kathy expanded her store in 2000 and 2003, opening the second and third locations.

Since Kudler fine foods is in the way of expanding its services it needs to have a thorough knowledge of its competitors. Market research will help Kudler fine foods to access where they stand with their competitors. This research will allow Kudler fine foods allocate their market share and also helps identify the areas in which it is stronger than its competitors. This strength will then result in its lead over its competitors. Market research helps the company identify the weak areas and create ways to overcome these areas, allowing the company to gain an advantage over their competitors who excel in such areas. We must keep in mind that;

1) While conducting research strategy has to be developed; research helps in the making of budget and strategic decisions.

2) If there is a problem in planning one should go back and analyze why and what happened

3) Finally you must defend the plans and strategies. Research helps in making business plans to get the financing.

Kudler Fine Foods' success rate is high and is now going to create successful changes within the company to increase its' customer satisfaction as well as profit and revenue. Kudler Fine Foods is a specialty food store that has conducted market surveys and has achieved high level of customer satisfaction in all the areas, with the exception of merchandise costs. By discovering ways to reduce costs, Kudler Fine Foods can increase its' level of customer satisfaction.

To develop the marketing strategy and tactics of the company, Kudler Fine Foods will need to conduct market research. The strategic objectives of the company include expanding services and introduce customer loyalty programs to increase efficiency. Kudler will host in store parties, which customers will be shown how upscale, fine foods are prepared by skilled chefs as well Kathy Kudler. The food parties will allow customers to purchase the food items used to prepare the dishes during the party. To increase revenue, Kudler Fine Foods offers a customer loyalty program. The customer loyalty program is a marketing and sales promotional tool. The customer loyalty program will encourage the repeat purchases made by the customers as well as acknowledging the purchases made by a specific customer. Retailers collect the data on each purchase and customers will use the loyalty card at checkout. The retailers are sensitive about the customer's data and take precautious about sharing given information with the manufacturers. This data obtained is used for research purposes and plays an important role with third-party analysts.

In year 2006 and 2007 two internal market surveys were conducted by Kudler to assess the success of their future catering servicse. This survey includes