This essay Marketing Mix Paper has a total of 1559 words and 7 pages.
Marketing Mix Paper
Marketing Kudler Fine Foods
July 8, 2013
Dr. Mark Vitale
Marketing Kudler Fine Foods
In the current retail food industry there are numerous competitors struggling for the same dollar. It is vital for each business to recognize their target market, recognize their competitors and then put together their marketing plan. The information below will detail Kudler Fine Foods marketing strategies which consist of increasing its services, improving its effectiveness of the business and increase consumer purchase cycle. This paper will also talk about areas where Kudler Fine Foods needs to expand their market research. Kudler fine food is a store that markets fine foods and needs to bring about increasing their goods to the community. Kudler feels by improving the business operations can determine the store increase and effectiveness and the demand of its clientele at a higher quantity of buyers. In taking a look at the demographics and the consumer behavior and who are the major consumers out there, and what do their purchase decisions are.
The importance of the marketing research is not only used for the purpose of knowledge, but it is also a critical component needed to make good decisions for the company. It will allow the company to advertise goods and services. A strategic marketing plan by, deciding what the overall objective of your company should be in. Kudler Fine foods are in a very excellent place to stay dominant in the grocery store path and increase their sales quantity by adding more stores in different places. Consumer behavior essentially refers to how and why people make the purchase decisions they do. Marketers strive to understand this behavior so they can better formulate appropriate marketing stimuli that will result in increased sales and brand loyalty. There are a vast number of goods available for purchase, but consumers tend to attribute this volume to the industrial world\'s massive production capacity. Rather, the giant known as the marketing profession is responsible for the variety of goods on the market. The science of evaluating and influencing consumer behavior is foremost in determining which marketing efforts will be used and when (Reference for Business, 2013).
This helps the marking business in making the best decisions and the rights decision for Kudler fine Foods to promote business for the store. Kundler Fine Foods gives the highest quality to it a customer that’s why it is so important to continue to give the customers what they need and want. Furthermore by not doing the research how will they evaluate their company and know what the customers should focus on in keeping the customers happy and coming back.
From researching Kudler’s Fine Foods will give a full description of supply and demand of their goods and make public to the competitors that are in the market of fine foods. Then there are other smaller markets that are comparable such as Sprouts, Trade Joes, and other community markets that can be competitors to Kudler. By researching this it will help to divide in a different class of markets. Differentiation strategy will give the consumer a choice an integrated set of action that the company can designed to produce or deliver goods or services that customers perceive as being different in ways that are important to them. In researching customers needs and what they want gives Kudler Fine Foods an upper quality for competitors.
The gross sales for Kudler were over $10 million but when researched their net income was only $700,000 and the reason was of the operating cost. Kudler may not have the resources to launch advertising for the company because problems have occurred because of the lack of experience to the target market. Kudler needs a target market to allow the company to focus on marketing dollars and brand communication on a exact markets that is more likely to buy from than or other markets. This is a much more reasonable and efficient, and successful way to make potential clients and generate business. Kudler chain of stores makes them a distinguished factor in the market. This is why a lack of customers will have a huge affect on the growth of the company because of the decrease of the sales in the company.
Research will help Kudler view consumer behaviors but with no funding to perform the research the company cannot target the right consumers, which is an issue. Executives can assume that they
Topics Related to Marketing Mix Paper
Marketing, Brand management, Business, Grocery store, Whole Foods Market, Market research, Retail, Brand, retail food industry, strategic marketing plan, target market, brand loyalty, appropriate marketing, purchase decisions, massive production, consumer behavior, fine food, critical component, marketing strategies, increased sales, dr mark, marketing research, different places, business operations, stimuli, mkt, grocery store, kudler fine foods
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