This paper is going to discuss Kudler fine foods stores as the product. It will look into the location and other factors that gear it towards success.
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Kudler fine foods store is a principal grocery store that stocks premium organic produce, meats, cheese, and wines. It also offers a wide range of gourmet cooking tools and equipment. Three stores have been established by Kudler fine foods. The three are all located in different areas within the state of California. The locations are La Jolla, Del Mar, and Encinitas. These are prime areas where the demographics favor the grocery business.
With changing customer needs, Kudler fine foods have strived to offer an array of products that other grocery stores don’t have. The stores get their produce from farmers who grow organic foods. They ensure that high standards are maintained in getting this organic produce to the shelves of the stores (Newsom, 2004). The use of preservatives is kept at a minimal level and if necessary unbleached flour is used. The foods are always alternated regularly. This ensures that the customer always gets fresh produce. The food items that remain in good condition at the end of the day are donated to food kitchens and homeless shelters. This shows that the stores have a co-operate social responsibility. The owner of the three stores buys the fresh produce in bulk and is distributed to all the three stores. The store attendants always ensure that fresh produce is on the shelves and is in good condition.
The stores have culinary professionals who give necessary advice depending on the customer’s needs. They offer advice on foods a customer should buy to stay healthy. They also offer culinary lessons in making gourmet meals. They cater to upscale customers who are interested in good food and know how to prepare gourmet meals (Kotler, 2007). The fact that they offer gourmet groceries and cooking items give’s them an edge over its competitors. With this changing trend, the store has an online shop that can make customers buy what they want and deliver to them.
Market segmentation is a tailored way for a company to reach out to a certain customer base or group. Through segmentation, a company can make modified recommendations for that particular group and gain valuable data through customer logs and different surveys (Kolko, 2005). This data is relevant during the marketing of new or existing products and services of a company. It also helps in underlining the necessary market strategies. The objective of segmentation is to diminish the variety of consumers to groups that have similar features. The correct segmentation envisages the behavior that the company gives more attention to.
Segmentation ensures that the consumer is ranked in a relevant manner. There is the separation of wanted consumers from those who are not required. Secondly, it structures consumers into targetable groups.
There are two main types of segmentation
- Custom segmentation
- Off-the-shelf segmentation
Companies with off-the-shelf segmentations make public the titles and descriptions of the segments but they make the criteria they used in coming up with this data a secret. Off-the-shelf segmentation is for a wider set of consumers. This makes the data too general and it has a wide outcome. At the same time, this data can be used to advantage because it can serve as a bridge in linking research, marketing, and related data sources.
Custom segmentations are intended to predict specific objectives. This kind of segmentation is used to define a niche market. It narrows down to the defined group of customers required. This kind of segmentation splits down an off-the-shelf segmentation into meaningful smaller sub-segments. The major disadvantage that custom segmentation has is that it is quite expensive to do the research or to get all the necessary demographics.
Making segmentation successful
There are three ways of making market segmentation relevant or successful.
- Keep it small and simple. Researching smaller groups at a particular time gives the researcher a better understanding of the kind of what they require.
- The naming of segments. The naming of the segments makes it easier for referencing particular data.
- Knowing how to find your target segments is quite crucial. Identifying the segment that the survey is going to be conducted on requires a lot of patience. This helps in knowing which clients fall into specific segments.
Kolko, J. (2005). Demystifying Segmentation. Cambridge: Forrester Research Inc.
Kotler, P., & Keller, K. L. (2007). A framework for marketing management (3rd Ed.). New Jersey: Pearson Prentice Hall.
Newsom, D., Turk, J. V., & Kruckeberg, D. (2004). This is PR: The realities of public relations (8th Ed.). Belmont: Thomson-Wadsworth.