Mkt 571 Product Offering

Running head: KUDLER’S FINE FOODS PRODUCT OFFERING

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Kudler’s Fine Foods Product Offering MKT/571

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Kudler’s Fine Foods Product Offering Kudler Fine Foods (KFF), a specialty grocery store chain will look to offer their brands of quality products in new regions of the world. To launch a product we will analyze market needs and growth, perform a brief SWOT analysis and define the product offering and its competition. Market Needs Kudler’s marketing research department recently performed a market needs analysis and discovered there is an increasing demand for vegetarian products in the Canada area. Market growth for specialty vegan products is in high demand making it a profitable product. Therefore, KFF will strategically begin to feature a vegan product to meet the needs of their customers and prospect customer. Statistics reveals that vegetarian food market has reflected an 8% growth per year and its forecasted growth per year is estimated at 5% per year. The figures for market size and growth cannot be easily reconciled across sources or previously published reports. However, the results consistently suggest ongoing expansion for vegetarian foods (The Vegetarian Resource Group, 2011). Market Growth Market growth is an increase in the demand for a particular product or service over time. Market growth can be slow if the do not adopt a high demand or rapid if the consumers find the product or service useful for the price level (Business Dictionary, 2011). KFF understands that specialty food market represents a moderate part of grocery sales in Canada. However, as people

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look to healthier lifestyles and better diet choices, stores like KFF will be sought after in the Canadian markets. The facts show established growth in the United States market that could translate to similar success in Canada. “Total sales of specialty foods in 2010 were $70.32 billion, with $55.92 billion of sales at retail;...