Differentiating Between Market Structures
Differentiating Between Market Structures Using the virtual organization of Kudler Fine Foods, evaluations will be made to determine market structure and competitiveness. Kudler Fine Foods current strategic plan for 2003, marketing overview, and market surveys will provide information to evaluate how Kudler competes in its market and where its strengths and weaknesses are located. Based on the evaluation of Kudler Fine Foods an applicable market structure will be determined and the structures effects on the organization and its long-term profitability. Recommendations will be made for Kudler Fine Foods while comparing real-world organizations.
Kudler Fine Foods Located in the San Diego area, Kudler Fine Foods has three locations offering imported and domestic specialty foods. Founder, Kathy Kudler found the joy of gourmet cooking to be a business opportunity and opened the first store in 1998. The first year of business was profitable and paved way to the opening of two additional stores. Shopping the world for the finest of products allows Kudler Fine Foods to offer the finest of wines, foods, and related goods. It is Kudler Fine Food’s mission to provide these fine selections coupled with knowledgeable, experienced, and helpful staff to create a pleasing shopping experience (Virtual Organization Portal, 2007).
Strategic Plan 2003 To provide Kudler Fine Foods mission while staying competitive, profitable, and delivering the goods known for, strategic plans are necessary. In 2003 a strategic plan was generated, within the plan traditional supermarkets were thought of as competition. Albertsons, Vons, and Ralphs advertised specialty foods similar to Kudler Fine Foods in the area of meat and produce. However, Kudler stays competitive by attracting specific customers cooking gourmet. While competitive stores offer similar food, they do not offer the same customer service, gourmet accessories, and foods Kudler offers. Whole Foods and Trader Joe’s offer
Kudler Fine Foods Located in the San Diego area, Kudler Fine Foods has three locations offering imported and domestic specialty foods. Founder, Kathy Kudler found the joy of gourmet cooking to be a business opportunity and opened the first store in 1998. The first year of business was profitable and paved way to the opening of two additional stores. Shopping the world for the finest of products allows Kudler Fine Foods to offer the finest of wines, foods, and related goods. It is Kudler Fine Food’s mission to provide these fine selections coupled with knowledgeable, experienced, and helpful staff to create a pleasing shopping experience (Virtual Organization Portal, 2007).
Strategic Plan 2003 To provide Kudler Fine Foods mission while staying competitive, profitable, and delivering the goods known for, strategic plans are necessary. In 2003 a strategic plan was generated, within the plan traditional supermarkets were thought of as competition. Albertsons, Vons, and Ralphs advertised specialty foods similar to Kudler Fine Foods in the area of meat and produce. However, Kudler stays competitive by attracting specific customers cooking gourmet. While competitive stores offer similar food, they do not offer the same customer service, gourmet accessories, and foods Kudler offers. Whole Foods and Trader Joe’s offer
References: Colander, D. C. (2010). Economics (8th ed.). New York, NY: McGraw-Hill. Virtual Organizations portal. (2007). Kudler Fine Foods. Retrieved October 27, 2012, from https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Kudler2/intranet/index.asp