Kudler Fine Foods: Strategic Planning
Kudler Fine Foods (Kudler), a gourmet shop, has recently decided to add organic produce to its product line up and implement a catering service. Actuating this business venture will affect Kudler's suppliers, employees, and consumers. The focus of this paper is to explore how changes in technology have created business opportunities for Kudler, identify the strategy that Kudler should pursue, explore some of the tactics the organization should implement to realize the strategy, and review the role of management.
Technological Advances and Business Opportunities
Any organization that is looking to be successful in this highly competive business world must seize the opportunities created by technological innovations in order to create new business opportunities. Web-based technologies have dramatically lowered and in some cases, eliminated the once-formidable barriers to entry in market after market. No longer are organizations tied to a single sector. Kudler Fine Foods is currently focused on expanding the services, improving the efficiency of its operations, and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers. pursuing customers by generating traffic, advertise services, products and promotions. Kudler Fine Foods is working to continuously market to its existing customers and while also targeting potential new customers in key market area. The organization’s webpage is used for advertising and marketing as well as sharing information with customers.
The Internet has impacted every aspects of marketing. Going back the marketing mix, product is no longer just the physical item or service but instead everything about the buying experience that a customer finds satisfying. The customer experience “is defined as the sum total of the interactions that a customer has with a company's website, from the initial look at a homepage through the entire purchase decision process” (Kerin, 2006 p.18). Kudler is now challenged to create value and an experience without the face to face interaction that occurs in the stores. “A company's success in achieving a meaningful market space presence hinges largely on designing and executing a marketing program that capitalizes on the unique customer value-creation capabilities of Internet technology. (Kerin, 2006). Internet marketing can help to organize Kudler’s communication with existing customers more efficiently as well as to increase communications with existing customers through the use of emails. By emailing customers who currently shop Kudler Fine Foods with promotional materials, new products, and upcoming events, Kudler is able to reach its target market. This same group can then be used for market research for future products and services. Market research to not only attract new customers but also leverage the firm’s better understanding of customer purchase patterns. The use of technology is an excellent method to increase Kudler’s efficiency and productivity at a reasonable cost. Kudler should install self check-out lanes which will allow customers to check out their items quicker and reduce the need for cashiers. In addition, Kudler should enhance its company website. Videos are becoming more popular with the introduction of websites such as You Tube. The company could upload videos on the Internet to broadcast its cooking parties. Rapidly growing number of organizations like Kudler are implementing intranet strategies. The intranet helps to streamline business processes, improving communications and enhancing collaboration. As a result, Kudler is using the company intranet to strengthen relationships with employees and business partners such as suppliers to increase its competitive edge. The intranet is a great benefit because it has the ability to provide up-to-date information quickly and by a cost effective mean. Information is now at the fingertips of...
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