Kudlers Fine Foods Essay

1559 words - 7 pages

Kudler Fine Foods Company was started in 1998 by Kathy Kudler. Kathy liked gourmet cooking and found that no store carried the foods or products that she needed in order to make her gourmet dishes. Kathy who had no experience in operating a gourmet store, decided to open her first store in LaJolla which is located in California. Two years later, store number two opened in Del Mar, then a third in Encinitas. The LaJolla and Encinitas stores have been doing very well unlike the Del Mar store which is having some difficulties. The probability of difficulty of the Del Mar store is the population size which is 4389. Even if the median household income was high in Del Mar, the store wo ...view middle of the document...

Information like this is very critical for a small business like Kathy's gourmet food store because the location and customers is the key to a profitable company. Having market research conducted will give Kudler's a better insight to properly creating a strategic plan.Intelligence is needed when factoring in the competition. The competition for Kudler is quite large and by having a research done, this will give Kudler information on how the competition is performing. The competitors are Whole Foods and Trader Joe's because these stores sell products of the organic and healthy nature which is quite similar to Kudler's. Another competitive edge that Whole Foods and Trader Joe's have over Kudler's is that these stores are of a large chain of stores which has more finances to expand their locations. In knowing the target market of the competitors, Kudler's can modify their promoting of their products to mimic the competitions' style of promoting with an enhancement of the promoting to win customers over from the competition.The risks involved for Kudler is poor planning and low funds but low funds can turn positive while poor planning will always be bad. Risks in any business need to be taken and in Kudler's case, not advertising is the main risk. Kudler needs to properly promote the store in order to attract more business. The locals know if Kudler's, but any individual outside of Kudler's area do not and by not having the proper promoting of the store, Kudler's risk a share of the market. Kudler needs to allocate money to use for the advertising and growth of the store just like their competitors. If Kudler's do not advertise aggressively, then the company will remain and grow at a small rate. The importance of advertising properly will inform customers that there is a store named Kudler's and the products that they sell for customers who are located on the outer areas of Kudler's. Kudler's customer base is small and this will be a risk to the business especially if customers' do not but products on a regular basis. With proper advertising, more customers' can be gained and the possibility of new and innovative ideas can be learned for a company to not become stagnant.The strategy for Kudler will be to employ the services of a marketing company to access and review the promotion of Kudler's product within a certain budget. To ensure that the research is conducted properly and accurately, Kathy Kudler will need to work with that individual of the marketing company to make sure that goals are properly set. In this way, the marketing team will know in what direction to take Kudler's Fine Foods. The plans presented by the marketing team will provide information which will pertain to a clear and concise marketing of the brand. If the proper steps are followed, the brand will be successful.Additional market research will be in the control, monitoring, feedback and evaluation of the brand which will be done through quantifiable elements such as mar...

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