Through her passion for cooking and frustrations in shopping Kathy created a gourmet food market offering an extensive selection of the freshest ingredients and finest products at reasonable prices with helpful and knowledgeable employees. Kathy became a success by combining convenience and affordability.
Marketing Research Paper Gaining reliable marketing information is a critical activity before Marketing research paper kudler fine foods deployment of a high-performance marketing plan. The company has aspirations to expand its scope of operations and boost the loyalty of its customer base.
In order to achieve these goals, the company will conduct marketing research to identify opportunities and threats that are currently present in the external environment Staff Marketing research can be defined as the process of collecting custom data and competitive intelligence that will enable managers to make value-adding decisions.
Areas that Require Additional Marketing Research Kudler Fine Foods has seen a high degree of success in the regional grocery store industry, but there are areas of failure in the business model that must be examined in greater detail.
Currently, the company is only taking advantage of newspaper advertisements in the local area to run sales. The importance of newspaper as a marketing medium is rapidly diminishing for many businesses. Youthful generations of consumers do use printed newspapers to obtain information in their daily lives — rather they should opt to use social media, mobile technology, and other web-based technologies.
In is essential that Kudler Fine Foods researches the viability of using these alternative marketing tools to engage their customer base. Marketing research can be conducted to analyze the potential cost and return on investment of using these methods.
Competitive Intelligence and Analysis The grocery store industry is notorious for being fiercely competitive and driving down the profit margins to the lowest possible level. Competitive intelligence is a marketing research topic the focuses on the threat posed by external competitors.
As a premium store, Kudler Fine Foods can offer higher prices, but it must demonstrate additional value by offering exceptional customer service and a wide product selection. The average consumer in San Diego has many alternatives when it comes to food shopping — therefor it is essential that efforts be made to stand out from the competition and meet the demands of a specific niche.
Understanding the types of products and the nature of advertisements being displayed by competitors will help Kudler Find Foods target a specific niche in the market. It is recommended that the company develop robust techniques for monitoring the activities of its closest competitors.
This is a tool that allows a company to manage its social media accounts and also monitor the activities of its competitors Kelly The company can use this tool to gather value information related to the trends of its competitors and forecast future changes in consumer preferences.
For example, if a local competitor starts selling a new type of organic coconut water that is a hit with consumers, social media monitoring will provide early indications of this trend.
The company can then take steps to add this product to its store shelves or offer similar product to attract customers. Social media outlets can then be exploited to display advertisements and start conversations with customers regarding this specific product.
The end result of these efforts will lead to a much more valuable collection of marketing research information. Summary Marketing research has the potential to give Kudler Fine Foods data that can greatly enhance its competitive position. Thus far, the company has failed to recognize the value of web-based media as tool to engage its customer base.
Conducting the research outlined in this paper will shed light on the potential benefits and drawbacks of shifting the focus of its marketing campaigns. The Radian6 tool will help the company obtain competitive intelligence in the local region and greatly enhance engagement with its loyal customer base.
In brief, research will be the first step towards strengthening the marketing plan of Kudler Fine Foods. Retrieved from Kelly, N.This paper will justify the importance of marketing research in the development of Kudler Fine Foods marketing strategy and tactics.
It will also identify the areas where additional market research is needed and analyze the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Foods marketing strategy.
1 Marketing Research Paper Connie F. Dents MKT/ April 16, Sean Duclaux 2 Marketing Research Paper Kudler Fine Foods is an upscale food store that specializes in specialty food, domestic, and imported wines. Kudler Fine Foods are located in the Metropolitan area of San Diego California.
Marketing Research Paper – Kudler Fine Foods University of Phoenix MKT Allan Hopkins In the current retail food industry there are numerous competitors fighting for the same dollar. This paper will justify the importance of marketing research in the development of Kudler Fine Foods marketing strategy and tactics.
It will also identify the areas where additional market research is needed and analyze the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Foods marketing strategy and tactics.
Read this Business Research Paper and over 88, other research documents. Kudler Fine Foods Marketing Research Paper. How do businesses thrive? What makes one company more popular then the next? Well, many different things can come into. Marketing Research Paper – Kudler Fine Foods University of Phoenix MKT Allan Hopkins In the current retail food industry there are numerous competitors fighting for the same dollar.
It is important for each company to identify their target market, identify their competitors, and then build their marketing plan. The information below will detail Kudler Fine Foods marketing strategy which.