Differentiating Between Market Structures in Kudler

Differentiating Between Market Structures in Kudler ECO365 â€Å"Kudler Fine Foods was established in 1998 when Kathy Kudler fulfilled her vision of establishing her own gourmet food store. The La Jolla store continues to grow while the Del Mar store has been having some difficulties. The store in Encinitas has just opened, but sales seem brisk.† (Apollo, 2011, Strategic Plan, p. 3) The owner works 7 days a week and performs many jobs from purchasing to stocking shelves. Kudler Fine Foods sees itself outside of competition. The customer’s satisfaction survey, conducted in 2011, indicated that 80% of customers find Kudler Fine Foods stores convenient for open hours and are pleased with atmosphere and dà ©cor inside the stores. The†¦show more content†¦This provides an indication of which items and what quantities to carry in the future.† (Apollo, 2011) This is another area of opportunity to establish a strong inventory system to be able to track items sold and being able to forecast better. Kudler strives to deli ver 95% inventory to its customers and in order to do that the strong inventory system must be established. * There is one thing that they are very creative and very good at:† 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.† (Apollo, 2011 Marketing Overview) They should absolutely continue with this strategy. This makes them unique and decreases competition. * Even though Kudl er acts like a monopolistic company they are definitely is oligopoly and should get more realistic and consider competitors who will attract Kudler’s customers shortly. In order to sustainShow MoreRelatedDifferentiating Between Market Structures in Kudler1564 Words   |  7 PagesCurrent Market Conditions Competitive Analysis Jerona Green, Darlene Wilson, Bronda Perkins, Christopher Pollard ECO/365 April 8, 2013 Samuel Imarhiagbe Current Market Conditions Competitive Analysis In today’s society the cell phone market is a huge competitive industry for cell phone companies. There have been studies that show that half the world has cell phone accounts. 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In an effort to increase profits, the company is interested in adding catering to its service offerings. TheRead MoreEco365 Week1 Essay2640 Words   |  11 Pages(2010). Economics (8th ed.). New York, NY: McGraw-Hill. All electronic materials are available on the student website. Week One: Fundamentals of Microeconomics | | Details | Due | Points | Objectives | 1.1 Differentiate between macroeconomics and microeconomics. 1.2 Analyze the effect of changes in supply and demand on the equilibrium price and quantity. 1.3 Determine how elasticities affect pricing and purchasing decisions. | | | Reading | Read Ch