Kudlur Market Overview
...the efficiency of its operations and |
|increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers. |
|Strategic Objective: Increase Loyalty and Profitability of Consumers |
|Expanding Services (Revenue Increase) – Kudler is offering parties in the store to show customers how to prepare specialty foods. The draw for the |
|consumers is to be trained by world-renowned chefs, local celebrities, other food experts, and even Kathy Kudler herself, and to be invited to |
|exclusive, upscale events. The anticipated outcomes will be to increase the customer purchase rate of high margin food and beverage items and to get |
|consumer to make an evening at Kudler Fine Foods part of their social network. This increased time in the store will increase the overall revenue per |
|visit and increase the frequency of visits to the store. Consumers will receive multiple entries in high-ticket item contests by bringing a friend to |
|the parties. While the firm’s preference is to have the events in-store, guests can have Kudler cooking classes at their home for a price premium. |
|Programs such as this encourage consumer loyalty and word-of mouth marketing. |
|Frequent Shopper Program (Revenue Increase) – Kudler’s new initiative is tracking purchase behavior at the individual customer level and providing |
|high value incentives through a partnership with a loyalty points program. The customer purchase behavior patters will help Kudler refine its |
|processes and offerings to best satisfy their valued customers. Price is not the primary differentiating factor for Kudler consumers; these consumers...
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