Kudler Fine Foods Marketing Research
Kudler Fine Foods is looking to expand their services to increase profit while also increasing loyalty among their consumers. In this paper I will discuss how marketing research has proved to be a vital asset to Kudler Fine Foods’ marketing strategy and tactics. I will also identify the areas where additional market research is needed. Last, I will analyze the importance of competitive intelligence and analysis regarding the development of Kudler Fine Foods’ marketing strategy and tactics.
In order to show customers how to prepare specialty foods, Kudler decided to offer parties in the store. Customers can be invited to exclusive, upscale events and be trained by world-renowned chefs, other food experts, or even Kathy Kudler herself. By having these events, consumers have a place to make an evening as part of their daily social network and this should increase the customer purchase rate of higher cost beverage and food items. Revenue should increase due to the overall increase in time customers are spending in the store and the frequency of visits to the store. By bringing a friend to the party, customers can receive multiple entries to higher ticket item contests. Customers will also have the option for in home cooking classes for a higher price but Kudler’s preference would be to have the events in the store. By providing both options, this should increase customer loyalty and word of mouth marketing. Kudler would need to analyze the day to day schedules of its customers to see if customers would take time out of their day to watch Kathy Kudler prepare dishes or would a high profile chef or celebrity need to be present to draw customers in. Surveys could be used to see if customers would visit the store if a celebrity of well known chef provided the cooking class. Having consumers increase their stay at the store might outweigh the cost of putting the class on since famous chefs and celebrities are not cheap to come by.
Kudler also has decided to offer a loyalty points program through a partnership to provide high value incentives and track the purchase behavior at the customer level. Kudler will be able to find out which ways work best to keep their valued customers happy by tracking customer purchase behavior patterns. Since Kudler customers are more focused on quality and specialized items, price is not the primary factor. Unlike lower end markets which rewards everyday discounts for purchase frequency, Kudler has decided to offer high end gift items, airline first class upgrades and other specialty foods which can be