Reflection Essay on Differentiating Between Market Structures

Kudler Fine Foods is an organization that offers gourmet foods and wines to the San Diego Metropolitan area. The organization currently has three locations (La Jolla, Del Mar, and Encinitas). Kudler Fine Foods stocks its fresh bakery, fresh produce, fresh meats and seafood, condiments and packaged foods, and cheeses and specialty dairy departments with local and imported goods. Kudler Fine Foods’ motto is Shopping the World for the Finest Foods and its mission statement is Kudler Fine Foods is committed to providing our customers with the finest selection of the very best foods and wines so that your culinary visions can come true.

Both Kudler’s motto and mission statement speak to the organizations passion of wanting to provide only the very best to their customers. In reviewing Kudler Fine Foods’ information, the organization appears to be competing quite well in the marketplace. The financials portion of Kudler’s strategic plan show the organization staying on the positive side of the profit margin despite only four months out of the year of above average sales. Also noted in the strategic plan are every store that in some way are similar to Kudler Fine Foods. These stores are more focused on supplying their customers with one or two services.

Because Kudler Fine Foods carries a larger variety of items, these stores only pose a small threat, if any, to Kudler Fine Foods. Kudler Fine Foods does plan to close one of their current locations and open a store in another location but this is not because of competition, rather a smaller customer base. Kudler Fine Foods’ marketing overview shows an aggressive plan on how the organization will change certain aspects in different areas of the company. There is plan for a new frequent shopper program, which is nontraditional in a sense and will give customers rewards instead of discounted prices.

Ideas on how to expand the organizations services to for its customers increase revenue as well as how to increase efficiency and cut costs for the company are also mentioned. The expansion of services will include offering parties in the store to teach the consumer on how to prepare properly gourmet dishes using items sold at the store locations. These sessions will be conducted be celebrity chef, food experts, and others. Merchandise selection and pricing is also addressed in the marketing overview.

Providing total customer satisfaction by way of constantly introducing new food items is the focus on how to accomplish this task. The marketing surveys for Kudler Fine Foods shows an average of about 71% of customers shopping at the Kudler Fine Foods to be satisfied all around. However, the customer satisfaction rate did drop by 1. 02% from 2011 to 2012. Although a one percent drop in customer satisfaction is not largely significant, if the issues in which the drop is associated with are not addressed, Kudler Fine Foods can expect a bigger drop every year as customer find newer stores to shop at.

Looking more closely at the surveys, they focused on the stores hours, atmosphere and decor, selection of products, whether the merchandise was a good value for the money, attractiveness on how the merchandise is displayed, satisfaction with the purchased merchandise, if the customer service representatives were courteous and knowledgeable, and the customers over-all satisfaction with the store. Although most of the areas the surveys touched on showed a customer satisfaction rate of 70% or more, there were a few areas that were at a satisfaction rate in the 60% range.

However, the survey results do show one area in which the customers were more dissatisfied than satisfied in both 2011 and 2012. This area was whether the merchandise sold was a good value for the money. In 2011, 58. 22% of customers were dissatisfied in this area. That number went up to 58. 83% in 2012. Although not a large increase in percentage, this still does reflect the dissatisfaction rate in this area is climbing every year. Kudler Fine Foods organization appears to fall under the monopolistic competition market structure.

First, in the strategic plan it states “Kathy Kudler is the vision behind the organization. She intends to grow and expand the business for 10 – 15 years, at which time she will reach retirement age. Her intent is to sell the entire organization at that time and no longer be involved in the operation”. This signifies that there is an easy entry and exit in this type of market, which is a feature of a monopolistic competition market structure. Second, in the Competitive Analysis section of the strategic plan it lists multiple stores in the same area as the Kudler Fine Foods location are and sell similar products.

However, since the products being sold at these other stores are not exactly equal in brand and quality as what Kudler Fine Foods offers, this also points to the organization as being a monopolistic competition market structure. Although Kudler Fine Foods is defined as a monopolistic competition type market structure, it does not fully fall under the same set of rules that a full monopoly type organization has. For instance, Kudler Fine Foods can set prices for the products it sells because its competition only offers similar products rather than exact product.

However, if Kudler Fine Foods sets its prices too high, its customers have the option to shop for similar products elsewhere where the price is more to their liking. Kudler Fine Foods must find the precise price where it can maximize profits but not run their supply to low where the run the risk of not being able to meet the customers’ demands. Once Kudler Fine Foods finds the correct equilibrium price, it can expect to see long-term profits. Some recommendations of competitive strategies for Kudler Fine Foods would be to continue to offer new products to their customers on a regular basis.

Offering new products that competitors do not offer will ensure that Kudler Fine Foods controls that portion of the market. Another recommendation for Kudler Fine Foods would be to investigate and determine why eight months out of the year their profits are lower than the other four months. After concluding why this is, Kudler Fine Foods should proceed with a more aggressive ad campaign, initiate special product pricing, and any other strategies to increase their profits in these low performing months.

A company comparable to Kudler Fine Foods would be Williams-Sonoma. With 252 locations that p 45 states, four provinces, and two countries, the Williams-Sonoma organization is enormously larger than Kudler Fine Foods, but offers the same type of products. These products range from organic and gourmet foods and wines and high quality and high priced utensils, cookware, bakeware, and many other items needed to produce a gourmet meal.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyHomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Business and administrative studies
Excellent job
Customer 452773, March 9th, 2023
Don't really see any of sources I provided, but elsewise its great, thank you!
Customer 452697, May 8th, 2021
Business and administrative studies
looks good thank you
Customer 452773, March 3rd, 2023
Love this writer!!! Great work
Customer 452597, April 5th, 2021
Business and administrative studies
excellent job
Customer 452773, March 12th, 2023
Looks great and appreciate the help.
Customer 452675, April 26th, 2021
Business and administrative studies
Excellent job
Customer 452773, March 17th, 2023
I just need some minor alterations. Thanks.
Customer 452547, February 10th, 2021
Business and administrative studies
Thank you for your hard work and help
Customer 452773, February 21st, 2023
Business and administrative studies
Thank you
Customer 452773, March 19th, 2023
Impressive writing
Customer 452547, February 6th, 2021
excellent job made a 93
Customer 452773, March 22nd, 2023
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes