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Differentiating Between Market Structures Essay

953 words - 4 pages

As a consultant that has been hired by Kudler Fine Foods you will be presented with a market analysis, review of their competitive strategies and make recommendations on how to maximize their profits. We will discuss their competitiveness, some the strengths and weaknesses of the business. We will identify the market structure in which we believe best applies to Kudler Fine Foods. Also review how what the effectiveness of the competitive strategies in the market structure affect the organization.
Kudler Fine Foods is a local upscale specialty food store in the Sand Diego area with 3 locations. It is their mission to provide their customers with the very best domestic and imported wines ...view middle of the document...

Kudler Fine Foods remains competitive in the marketplace because of its ability to be flexible and provided products and services based on customer needs/wants.
Based on the market surveys available for 2011 and 2012 customer reviews were pretty consistent from 2011 to 2012. Some of the strengths of Kudler Fine Foods were that the stores hours were convenient to their shoppers and they the atmosphere and décor were appealing. This shows that they have made their stores very appealing and welcoming towards their customers and we believe this is an important step in getting customers in and then gaining their loyalty. On the other hand some of their weaknesses their customers thought was that their merchandises being sold was not a good value for the money. This is a weakness that can hurt Kudler Find Foods, if their customers do not feel that the merchandise they are buying is worth what they are paying then they may seek out other stores that can give them what they want. This is where Kudler needs to step in and try being flexible on their prices and see what keeps customers happy and coming back. By being flexible on price they can change prices when there is need to stimulate the sales on a product.
Based on the information provided we believe that Kudler Fine Foods would fall under the Oligopoly market structure. In an oligopoly market there only have a few firms in that sellers market base. While Kudler may not currently have any competitors on their same scale in their geographic area there are other gourmet items available to consumers. The market structure Kudler falls into has its positive and negative effects. The positive effects of being in a oligopoly market is that the leader in the market can drive the competition between the few companies and make massive profits by setting prices (Colander, 2010). The profits in the oligopoly market structure allow the company to be profitable long term...

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