New Marketing Strategy for Kudler Fine Foods
The Kudler Fine Foods scenario presents a host of business problems, including inadequate financial statements, employee issues, and the inability to correctly forecast its product sales, among others. But the company’s biggest failing is the lack of a clear vision for success. Furthermore, the owner and managers do not show a strong understanding of who their customers are, as well as their needs and wants. Therefore, in order to sharpen its vision and align its goals accordingly, the company needs to develop a new and more thorough marketing plan.
Although Kudler’s first store appeared to find the right customer base, its subsequent efforts toward expansion have proved faulty in some areas and only partially successful in others. Whether the company will benefit by reaching out to new customers via additional retail stores or internet sales can better be determined by more research and planning rather than by relying on the relative success of its first store. By taking the time now to develop a well-rounded marketing plan, the store stands to profit from its current strengths and improve its future. Management’s first steps should be to examine the opportunities within its current problems and create a clear vision of the goals of the business.
The failing Del Mar store, the hit-or-miss success with product ordering, and unrealistic perceptions of its customers’ perspectives provide the opportunity for Kudler Fine Foods to create a more concrete basis for profit and expansion. Having a well designed marketing plan is essential to any retail operation’s survival and growth. By developing the 360 degree perspective of a solid marketing strategy, Kudler’s owner and managers gain the insights they need to reach and retain the store’s best possible customers, and to expand the business.
Kudler’s vision is to bring quality gourmet foods to a loyal and growing customer base by...