Marketing Research Paper Essay Example | Topics and Well Written Essays - 1000 words - 1

Marketing Research Paper - Essay Example Affordability and convenience to meet customer demands lie in the core mission of Kudler Fine Foods. The retail space of the shop of Kudler Fine Foods is quite spacious and stores fresh ingredients of domestic and imported food items. The company is thinking of new initiative to add to serving their customers needs in a far better way. Kudler Fine Foods is planning to undertake a catering service to meet the demands of their customers. Kudler Fine Foods after achieving significant growth in their gourmet grocery food section are planning to increase the cycle of purchasing activity, improve their operating efficiency and expand its services to more number of customers. Thus Kudler Fine Foods has been providing its customers with fresh and finest bakery products, meat, and cheese, dairy and also finest imported wines. The company wants to further target high-income customers who are not concerned about price but needs quality and uniqueness in the food products. As an initiative to th is objective, Kudler Fine Foods has opened a website which offers a list of grocery and food items available and also provides with the opportunity of e-commerce (Kudler Fine Foods, 2013). Recommended solutions with reasons Kudler Fine Foods after achieving considerable growth is focusing in expanding its services and at the same time increase its revenues with lower costs. There are several ways which can be recommended to fulfill the company’s objectives. The cost differentiation is not the only factor that draws customers to Kudler Fine Foods. On the other hand, their customers are more interested in receiving unique food product with freshness and also uniqueness in the service of the shop. Thus, it is recommended that that Kudler Fine Foods should focus at expanding their catering services to add to the convenience of their customers. As per marketing theory, the recommendations to Kudler Fine Foods can be broadly classified under adopting strategies for cost leadership, differentiation and focus strategies. By cost leadership, Kudler Fine Foods will be able to produce food products which are cheapest in the industry. For this Kudler Fine Foods would have to develop alliances with companies that support their inventory management by transaction through computers. By adopting differentiation strategy, Kudler Fine Foods would be able to move ahead of its competitors by providing quality fresh foods and beverages to its customers. For this Kudler Fine Foods would have focus of proper maintenance of its storage and management of its inventory. Focus strategy can also be recommended for Kudler Fine Foods to identify their market segments or customers who can be targeted. Kudler Fine Foods can offer reward programs in order to draw the target customers and maintain their data in a database. Thus by studying the customer behavior pattern and bridging the gaps between the supply and demand, Kudler Fine Foods can plan for growth through alliance, innovation , internal efficiency and customer orientation. The other recommendations include holding cooking demonstration in their retail space, hiring a business manager for specialized