The market research process consists of five steps; define the problem, develop a research plan, collect relative data, analyze the data, solve the problem (Armstrong &Kolter, 2005). Kudler Fine Foods defined their problem or objective as increase loyalty and profitability of consumers. In order to achieve this, they are proposing to increase revenue by expanding services and initiating a frequent shopper program. They are also purposing a cost reduction measure through increase efficiency (Apollo Group, 2004). As an expanding service, Kudler Fine Foods will conduct in store events that teach customers how to prepare specialty foods.
The company has a competitive advantage of offering high quality ingredients to its customer along with its commitment to the principle of “Food with Integrity.” In regards to its “Food with Integrity” philosophy, Chipotle is taking advantage of growing trends in the industry with a great emphasis on healthy food with high-quality and organic ingredients. By capitalizing on current trends, Chipotle is stealing market share from fast food giants like McDonald’s and Yum Brands. This success has been linked to the achievements of different types of strategies adopted to ensure that the market is sustained through competitive
In today’s supermarkets, the trend of going “organic” is the biggest, because the results from those researches are positive. Many scholars believe that going organic will benefit their health and the society around them. The Organic food industry is rising each day and more and more people are becoming aware of it. Therefore, switching to organic is the best choice because it better of the human body, the environment and the local economy. First of all, what does the world “Organic” mean?
The socio-cultural segment is another relevant segment, where attitudes about quality of life, workforce diversity and concerns about the environment will cause a shift in diet and lifestyle preferences. This section explains the conditions in the organic food industry that will Whole Foods with opportunities. The aging Baby Boomer generation has resulted in an increased population of people that are more informed, health-conscious and willing to spend more on healthy natural foods. These people with higher disposable income will be the main drivers for the demand of organic foods. America in general is also growing in affluence, providing Whole Foods with a larger target market.
As we identified from the previous study, the new generation of fast food restaurant tends to come back on a focus on the product quality. Street is directly involved in this trend, as they propose higher prices for better quality product. More and more restaurant chains focus their concept on quality (shake shack, habits, chipotle etc.). This restaurant chains are the one with the highest IPOs and the most effective in term of cash flow. Future competition will be in the product top quality.
Whoever understands the customer’s needs and catch them up on time, that company will be successful. With more knowledge about being healthy, people have the higher demand for having good quality food in a quick service. As Levey’s article, “in the casual dining industry, Brinker International announced a new menu at its Chili’s unit that includes significant low-fat and low carbohydrate options.” The restaurants might have a valid option about the level of low carbohydrate or low fat for their clients to choose from, so this industry can be efficient and brighter. There are three key survival factors for the Fast- casual dining industry, including customers, employee productivities, and food qualification. Nowadays, the customers in this industry have high expectation for what they eat.
Therefore, in order to be competitive in this new and lucrative market of food incubator business that My Other Kitchen is aiming for, branding and marketing is vital. In conclusion, being aware of all types of competition and identifying the risks other factors that may influence of the success of the business is of great importance.
Kudler is able to increase their profitability by using operational strategies such as establishing contracts with local producers of organic produce, creating a purchasing department, and through the use of marketing tools. The purpose of this paper is to identify the business opportunities created due to the changes in the use of technology. Additionally this paper will show the generic strategy of Kudler Fine Foods, how to implement it, and the role the management team will have in keeping Kudler Fine Foods competitive in the fine foods industry. Changes in technology In today’s world technology never seems to stop changing. This technology can be beneficial to Kudler Fine Foods and it can help elevate their company to the next level.
1. In the case it describes Panera Breads strategy is to aggressively expand its market presence in North America and to improve the quality of the dining experience for its customers. As for how Panera Bread is assessed within The Five Generic Competitive Strategies the group has determined they are a best cost provider. The best cost provider is deemed as a hybrid strategy combining both differentiation and best cost strategies to provide the best value for customers over fellow competitors. To make it different compared to other fast casual dining locations Panera Bread has made a wide variety of items on their menus available and established a superior dining environment.
From the secondary data findings, a restaurant should aim most of its advertising efforts at enhancing customer awareness so that customers at least consider that brand in the suggested set of alternatives. The television commercials or magazine advertising, support activities and charity involvement in social, cultural, sports, or other kinds of public events can improve a firm 's brand awareness. Another important conclusion thing is that the perceived quality of a specific restaurant brand and products is found to significantly affect its performance. It goes without saying that restaurants should consistently provide quality products and services, such as serving food in promised time, serving ordered food accurately, and staff should be knowledgeable about menus, convenient operating hours, and ensure appearance. Not only is this good business, but it strengthens the brand.