Kudler Fine Foods
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Kudler Fine Foods operates in the food industry and specializes in production of gourmet foods with the target market for both the low-end and the high-end consumers. The company dedicates its resources to production of quality products that utilize the high quality- low cost marketing strategy. The business was started with the vision of providing high customer satisfaction in order to increase the market share; and so far, Kudler Fine Foods has managed to expand its business into three locations. The major products are salads, bakery, dairy and cheese products, and exotic meat products. The foods are made with the inclusion of customer satisfaction in the essence of food art, cleanliness, eating environment, food presentation, and the taste of food. The company focuses more on the manner that the food pleases the customer, rather than the benefits. However, the meals made through a combination of foods are healthy and comprise a balanced diet. For the purpose of healthy and tasty balanced foods, there is a need for combination of various exotic and rare foods, which is generally tiresome and time-consuming. Kudler Fine Foods relies on the “tiresome and time-consuming” factor to benefit from individuals who desire tasty, presentable, and balanced food, but do not want to spend a lot of time. The strategy remains one of the strongest Kudler Fine Foods’ market strategies. That is the reason why Kudler Fine Foods was founded on the power of “combining the convenience of one-stop shopping with reasonable prices” (Fine Foods).
Kudler Fine Foods Market Analysis and competitive strategies
Kudler Fine Foods (KFF) operates in a homogenous industry with close to perfect competition and with minimal barriers to entry. The company operates in an industry that can continuously and genuinely meet the consumer demand at all times. The food center also specializes in hiring chefs who deal with gourmet cooking only and offers them training. The chefs can be found anywhere; however, the constant supplies of rare products by Kudler Fine Foods bring about a competitive advantage. For example, considering that the foods prepared at the hotel can be made individually at home, the food center has to put in a lot of effort to make a difference. To retain and attract customers, the food company offers discounts and advises customers on extra buying opportunities available. For example, the food company has a cohesive association with it supplier’s bases, where the suppliers play a large role in facilitating Kudler advertising strategies.
A number of factors place the food company in the scope of branding, technology, and positioning. KFF uses a strong internet platform to advertise it goods and, at the same time, making sales with minimal shipping charges. KFF has been able to acquire strong brand equity through it products being associated with innovation and quality. Due to high brand equity and brand loyalty, KFF has been able to position itself as a top-quality low-priced food retailer targeting both low and middle class.
Areas where additional market research is needed
Despite the strong brand equity, KFF has not been able to concentrate on two important areas: perfect market and timely orders delivery. Perfect markets have the combination of many sellers and many buyers. In such a situation, the buyers and the sellers have almost equal bargaining power, as they rarely interfere with the demand and supply impacts. The next issue is that there has not been an automated system to make an organized delivery schedule for the orders made. For example, on the KFF website, there is no exact estimate of time it takes for the shipping of the goods purchased. This makes deliveries very slow, which might pressure the customer into going to other food centers due to the perfect market factor. On the same note, KFF has concentrated on employing professional chefs, while neglecting the other divisions, such as marketing and finance department.
Further research is needed into how KFF can automate all its systems to match with international standards and, at the same time, offer a competitive edge to other industry players. In a perfect market, innovation is major in distinguishing one company from another. KFF should consider focusing its energy on the marketing, finance and automation departments in order to stand out from the rest. A company with weaknesses is likely to be consumed by other companies through public trading, mergers and acquisitions. It is, therefore, advisable that KFF conduct further market research to determine how the automations and financial segment improvement can better the company.
KFF is on the verge of expansion and, therefore, should consider drastic measures to meet its challenges. The company has three operating bases, which means that the company is growing gradually in America and Canada. The company has not had any record of collapse or major loses; therefore, any talks of IPO, acquisition and merger should be left out of the company’s vision for the time being. The company has been able to establish three branches without major interference from outside forces. The company should be contemplating over how it can grow on and resist the outside sources.
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Importance of competitive intelligence and analysis for KFF
The world is moving towards a global village, all thanks to the internet. The global village allows for a faster and more resourceful trade around the world on a click of the button. KFF has strategically utilized the technology platform to market itself and broaden its consumer base. The major and most outstanding concept on the KFF website is the home delivery platform, that allows consumers to view items, place them in their “carts”, and then place an order after making a payment online. The platform has enabled KFF to broaden its consumer market without installing physical shops. Therefore, as per online consumer residences, KFF can determine which areas have a high number of consumers and thus determine where to establish the fourth market. The platform of online shop is timely considering that KFF is on the verge of opening the fourth center, which requires a lot of capital for research. The online platform can reduce the amount of money to be spent on market analysis and research for the new location.
Kudler operates in a perfect market, where the number of sellers is as high as the number of buyers. KFF should consider conducting market research and analysis in order to identify the key competitive advantage that it can use to be in the better position than competitors. At the moment, KFF already enjoys a competitive edge of using technology to broaden its market base. As much as KFF tries to break the ground of securing a larger market share, it should also consider adding flavor and quality to its products and service. The first step towards bettering products and services is the installation of an automated system that can handle the high number of expected customers. On the same note, KFF should consider empowering the financial and marketing department with skilled employees.
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