Eco 365 – Differentiating Between Market Structures – Kudler Fine Foods
Differentiating Between Market Structures
Sandra Odems
ECO/365
October 14, 2013
Peggy Douglas
Differentiating Between Market Structures
The imaginary Kudler Foods store has three locations in California owned by Kathy Kudler a woman with a vision in creating a store where people can come and buy good quality food at affordable prices. This paper will analyze Kudler Fine Foods marketing research, strategic plans, and market surveys. It will also show an evaluation of the company’s desire to be better than the competition within the market, which includes customer opinions. It will also evaluate Kudler’s long-term profitability that maybe affected by the market structure in a positive or negative way.
Marketing Research
Kathy’s decision to start Kudler Fine Foods was based on her own shopping experience the need for fresh food all in one store. The main secret to Kudler Fine Foods success is the affordable prices. Kathy main plan is to become more convenient by implementing a catering service within her organization. By implementing a catering service and doing a market research, Kudler Fine Foods can meet the customer’s needs, which is the core mission of Kathy’s vision. The store is currently managing the market research to continue satisfying their customers’ demands as they move forward in becoming more successful in the industry. Kudler Fine foods market research gathers information about the current market, consumers, and competitors. The information gathered together by using surveys, customer feedback, competitor research, and focus groups. All the collected data is analyzed and the variables such as revenue, age, and location will determine the target audience within the market. This research will identify the company’s strengths, weaknesses, future prospects, and threats created internally and externally. This can also target new market areas for new technology and more customers.
Kathy Kudler knowledge and understanding of the customers’ needs has decided to create a new program she can use called customer relationship program, which will show traceable results in collecting and analyzing data for her market research. It will track customer behavior and identify characteristics with each customer who participates in the program.
Strategic Plans and Recommendations
The Kudler Fine Foods Company is moving towards expansion in creating more stores in different locations. With an expansion Kudler Fine Foods, focus would be to make improvements on the company’s operations to increase the profitability and loyalty of their customers. Kudler Fine