Kudler Fine Food was established in 1998 by Kathy Kudler whose vision was to create a store with all the necessary products for a gourmet cook. The vision and mission of the organization is to support customers with the freshest ingredients for reasonable prices gathered from different parts of the world for passionate gourmet cooking. Kudler Fine Food is located in three parts of the USA and offers the services of the home delivery.
One of the most important marketing strategies the organization implements is its specialization in both food and cooking tools (Kudler Fine Food, 2011). This advantageous strategy helps Kudler Fine Food remain a leader in the niche, however, additional marketing research is necessary to remain successful participants in the sphere of gourmet cooking.
The Areas for Additional Marketing Research for Kudler Fine Food
Basing on the Perner’s research (2008), it is possible to conclude that food industry is a highly competitive sphere of business. To remain a leader, much information should be considered and thorough research conducted with the purpose to use the gathered information for creating a strategic plan for further development. Using the research conducted by Perner (2008), the following areas for additional marketing research for Kudler Fine Food can be highlighted.
The study of demographics is important as Kudler Fine Food should be aware of the age category of those who need its services and predict the future trends for a target audience. The characteristics of the social class are also important for developing a strategic plan. The information devoted to consumption patterns is important as Kudler Fine Food should be aware of the customers’ privileges, of the decrease or the increase of the demand on specific products. The focus on marketing issues helps understand what spheres should be impacted.
Kudler Fine Food should decide what they are to invest into, brand building, new product line introduction, or attracting more loyal customers. Price politics is also important. The company should conduct a thorough analysis of the product prices and occupy its own niche in this relation. A research should also be conducted in the sphere of competitive advantages, such as product uniqueness, variety and combination of food and tools for cooking (Perner, 2008).
The Importance of Competitive Intelligence for Kudler Fine Food
Competitive intelligence should not be underestimated. Competitive intelligence is aimed at helping Kudler Fine Food to prepare it for “creating new conditions to guarantee the company’s future success in the keenly competitive business environment” and for becoming “one of the most powerful weapons of the future in the hands of company management” (Bartes, 2011, p.
669). Company’s economic performance is closely connected with the competitive intelligence, so, if Kudler Fine Food wants to remain successful and occupy its niche in food business, it should use this strategy. Kudler Fine Food wants to be successful, and to create a strategic plan for the future actions, it should base its strategic decision on competitive intelligence (Bartes, 2011).
The importance of Marketing Research in the Development of Kudler Fine Food
Therefore, Kudler Fine Food should conduct a marketing research in different spheres and to use competitive intelligence strategy for considering the main spheres where action plan should be implemented.
Strategic planning is a guarantee of the company success.
Bartes, F. (2011). Action plan – basis of competitive intelligence activities. Economics & Management, 16, 664-669. Kudler Fine Food. (2011).
Official site. Retrieved from http://kudlerfinefoods.info/ Perner, L. (2008).
Food Marketing. Retrieved from http://www.consumerpsychologist.com/food_marketing.html