Kudler Fine Foods: Issue Resolution and Vision
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- Date Submitted: 06/10/2010 12:51 PM
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Kudler Fine Foods (KFF) has experienced a great deal of success since Kathy Kudler established the business in 1988. In order for KFF to remain successful and grow it must analyze and resolve potential issues before they negatively impact the business. The issues at Kudler Fine Foods are the negative impacts of a declining economy and the lack of a succession plan. This paper will explain the issues in further detail and describe resolutions to the issues. Last, it will conclude by stating the end vision of KFF.
Impacts of a Declining Economy
KFF caters toward a higher-end clientele. The product offerings are not necessities, but luxuries. In a state of recession, people have less disposable income and tend to evaluate each purchase. The higher-end clientele could begin to shop at some of the competitors who offer similar lines of product at a discounted price. KFF provides an amazing shopping experience and have highly trained staff. However, in a declining economy people are more cost conscious and less concerned about expertise and a dynamic shopping experience. With less disposable income, people become smarter about their purchases and are less likely to spend on impulse (Frumkin, 2009).
KFF can mitigate the potential negative impacts of the economy by monitoring trends, gathering feedback from customers, and making adjustments as needed. The company should constantly monitor how well the products are selling. It does not matter that KFF offers twenty different types of apples if only ten are selling. KFF should focus less on the variety, but more on the quality of goods the customer demands. KFF honors customer requests for products, but conducting research to determine the perception of the product offering would be beneficial too.
Additionally, KFF can expand the customer base by evolving its marketing channels. Losing a percentage of customers because of a declining economy might be offset by acquiring new customers. Currently, KFF is using...
Impacts of a Declining Economy
KFF caters toward a higher-end clientele. The product offerings are not necessities, but luxuries. In a state of recession, people have less disposable income and tend to evaluate each purchase. The higher-end clientele could begin to shop at some of the competitors who offer similar lines of product at a discounted price. KFF provides an amazing shopping experience and have highly trained staff. However, in a declining economy people are more cost conscious and less concerned about expertise and a dynamic shopping experience. With less disposable income, people become smarter about their purchases and are less likely to spend on impulse (Frumkin, 2009).
KFF can mitigate the potential negative impacts of the economy by monitoring trends, gathering feedback from customers, and making adjustments as needed. The company should constantly monitor how well the products are selling. It does not matter that KFF offers twenty different types of apples if only ten are selling. KFF should focus less on the variety, but more on the quality of goods the customer demands. KFF honors customer requests for products, but conducting research to determine the perception of the product offering would be beneficial too.
Additionally, KFF can expand the customer base by evolving its marketing channels. Losing a percentage of customers because of a declining economy might be offset by acquiring new customers. Currently, KFF is using...