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Virtual Organization On Riordan Manufactururing Essay

927 words - 4 pages

Market Structures in Kudler
Gerard A. Brady
November 7, 2013
PH.D. Sol Dresher

Market Structures in Kudler
Currently, KFF has minimal competition and owns a substantial portion of its market share. From the 2010 and 2011 customer marketing surveys, strengths and weaknesses of KFF strongly identify with the consumers view. The 2010 market survey shows KFF’s strengths to be convenient store hours, appealing atmosphere/décor, attractive displays, merchandise satisfaction, and the overall satisfaction of the store. Each category listed as strengths from the 2010 survey shows that less than 20% of the customers shopping at KFF express dissatisfaction in these areas. This analysis ...view middle of the document...

KFF is currently holding a big portion of the market share in each stores location, but at any moment a competitor of gourmet products can gain entry into the market and possibly move KFF’s market structure to a perfect competition. This is normal in some markets for a company to structure their market for the short run and use a monopolistic competition model. Because of changes in the market share in the long run, the company’s market structure tends to merge into a perfect competition. The market structure has positive and negative effects on KFF. The primary negative effect of monopolistic competition is the efficiency. Based on the method chosen to monitor customer demand by Kathy Kudler, KFF is losing money because the method to track customer demand is inefficient. KFF has a customer base that is always requesting something new because demand changes. KFF provides many perishable goods and has to be mindful of shelf life and to its commitment to provide everything fresh to consumers. KFF must slash prices, give away or discard items if a forecast for customer demand is wrong as a result of inventory tracking inefficiencies. These inefficiencies will affect KFF’s long-term profitability. The positive effect is, KFF is a specialty gourmet store and provides rare and unique products and services. This allows pricing to stabilize because there is not any direct competition present. 
Based on the review and findings of KFF’s market analysis, it is determined that a focus on customer satisfaction and efficiency should be reinforced through the whole company. Reinforcements should include employee programs that refresh and retrain staff about customer service and the importance of providing efficient customer service. The employee program can also offer employee incentives or rewards that strive for above...

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