Differentiating Between Market Structure
Differentiating Between Market Structure: Kudler
ECO/ 365
Kudler Fine Foods is a local upscale specialty food store located in the San Diego metropolitan area. They have three locations in Del Mar, La Jolla and Encinitas. Kudler Fine Foods offers foods and wines, such as bakery and pastry products, fresh produce, fresh meat and seafood, condiments and packaged foods, cheese, special dairy products and wine. Physical characteristics of the market in which the organizations interact is a market structure. There are four basic market structures. They are monopoly, oligopoly, monopolistic competition and perfect competition. Market structures differentiate in several ways. A few examples are number of firms, barriers to entry, pricing decisions, output decisions, interdependence, profit, P and MC. Kudler Fine Foods is a monopolistic competitive market company. Kudler competes with competitors like Ralphs, Vons, Trader Joe’s in several ways such as selling unique items, having a wine steward and their pricing makes it affordable for everyone. Kudler Fine Foods sells epicurean foods that they travel all over the world to find and sell at their stores. This is different and unique and it is what sets them apart from their competitors. Kudler also has a wine steward at the store. Kudler offers a large array of wines and spirits and to reduce intimidation, they offer a wine steward who is there to assist their customers in selecting a wine. Kudler also has a monthly wine appreciation day every month to teach their customers the nuances of wine. Kudler also ensures that they employ highly qualified and recommended people to work at the stores. Kudler also stays in competition by having plans to create a frequent shopper reward program. Several customers want to have a personalized experience and believe in loyalty. When a consumer knows that their purchase will not only purchase their item but also earn them points for
ECO/ 365
Kudler Fine Foods is a local upscale specialty food store located in the San Diego metropolitan area. They have three locations in Del Mar, La Jolla and Encinitas. Kudler Fine Foods offers foods and wines, such as bakery and pastry products, fresh produce, fresh meat and seafood, condiments and packaged foods, cheese, special dairy products and wine. Physical characteristics of the market in which the organizations interact is a market structure. There are four basic market structures. They are monopoly, oligopoly, monopolistic competition and perfect competition. Market structures differentiate in several ways. A few examples are number of firms, barriers to entry, pricing decisions, output decisions, interdependence, profit, P and MC. Kudler Fine Foods is a monopolistic competitive market company. Kudler competes with competitors like Ralphs, Vons, Trader Joe’s in several ways such as selling unique items, having a wine steward and their pricing makes it affordable for everyone. Kudler Fine Foods sells epicurean foods that they travel all over the world to find and sell at their stores. This is different and unique and it is what sets them apart from their competitors. Kudler also has a wine steward at the store. Kudler offers a large array of wines and spirits and to reduce intimidation, they offer a wine steward who is there to assist their customers in selecting a wine. Kudler also has a monthly wine appreciation day every month to teach their customers the nuances of wine. Kudler also ensures that they employ highly qualified and recommended people to work at the stores. Kudler also stays in competition by having plans to create a frequent shopper reward program. Several customers want to have a personalized experience and believe in loyalty. When a consumer knows that their purchase will not only purchase their item but also earn them points for