Marketing Research Paper
Marketing Research Paper
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Date Created: 11/18/15
Kudler Find Foods Kudler Find Foods is founded by Kathy Kudler in 1998 It is a high quality gastronome specialty food store As the CEO of the company Kathy has maintained the vision of Kudler Find Foods for many years Under Kathy s leadership and management the company was able to eXpand to three stores in different locations The three stores located in La J olla Del Mar and Encinitas California Each store is located in the shopping center with an approximate size of 16000 square feet and offers a variety of upscale specialty foods and wines Marketing Research Paper Marketing research is the gathering recording and analyzing of all data about problems relating to the marketing of goods and services A company uses this function to link the consumer customer and public to the market A marketing research is an important part of business and without it companies won t be able to keep in touch with trends demands and preferences of their consumers Although conducting marketing research can be time consuming and costly it is beneficial in the long run and the cost of the research needs to be balanced against the importance of ensuring that the business venturing into new products is potentially going to be successful The four elements of marketing miX price product place and promotion form the basis of any good market research Using these elements will guide the company s research and focus the question that needed to be asked Whether you want to miX the typical martini or find the perfect wine to compliment your next dinner party Kudler is the place for it They carry a wide variety of wind and gourmet foods Kudler Fine Foods is a gourmet grocery store located in the San Diego metropolitan area with three locations to serve their customers They have the very best domestic and imported fare at every location and shown from recent surveys that they have improved and continued to surpass all expectations in customer satisfaction The company is committed to providing its customers with the finest selection of the very best gourmet good and wines so that their vision and goal can be achieved To be successful in its marketing research Kudler needs to have a mission and that is offering each of their customers a delightful and pleasing shopping eXperience Using effectively and efficiently marketing plans will help accomplish this mission for business intelligence and overall Kudler image The company research around the globe for the best products and purchase only the finest products Marketing strategy is essential in promoting awareness and helps a company achieve marketing objectives Since Kudler is in the grocery business they have to compete with other mass market providers like Wal Mart PubliX to name a few The marketing strategy will provide consistency throughout the different elements of Kudler organization s marketing miX If the company decides to use a pricing strategy that indicates a high quality as in their wines and the marketing literature does not support this then there is a breakdown in the strategy This will in turn give the customers a confusing message and unprofessionalism With this in mind Kudler is proud of their wide selection of gourmet products and certainly don t want their customers to be intimidated They have employed in each store a Wine Steward who will be more than happy to assist a customer in making a selection and answer any question he or she may have The company also holds monthly wine appreciation classes so that the public can learn the nuances of Kudler wines The importance of competitive intelligence is very crucial in the industry and that s one of the reasons that the company is constantly analyzing the market Marketing research is constantly evolving and is a continual learning process Information learned and experiences garnered from the past marketing efforts will help Kudler become a better company Kudler was founded by Kathy Kudler who has a very extensive marketing background She was the Vice President of Marketing for a large defense contractor She had a love for gourmet cooking and on a shopping trip for ingredients for a gourmet meal she suddenly realized that there was an opportunity for an upscale epicurean food shop in San Diego The competition for gourmet food was not much as far as high standards go These market s taste is specific and unique and lots of researches are put into the marketing part of it before deciding to go aboard on this journey Kudler realizes that businesses today are very different from those of the part It is far more aggressive in their pursuit of success Also with the growth of the intemet competitiveness has gone global Millions of businesses compete every day and that s why Kudler has armed itself with the right to be successful A business that wants to remain competitive and be profitable will need to understand the products that their target market is looking for and this kind of information only comes from marketing research Kudler Fine Foods knows that not only will they need to understand what products should be brought into the market but also the success of its current products Information on what the company is doing right and what they could use some improvement on is vital to a business s success Kudler Fine Foods uses data to create a marketing plan andor adjust the one they already have This data falls into two categories quantitative and qualitative In quantitative data it uses a very large sampling of the populations by analysis in a mathematical nature where the other data is used on a one and one interview to gather information about personal beliefs and values that the user of its products has The research Kudler Fine Foods utilizes when conducting marketing research is grouped into two parts The first research is the secondary research which refers to information that is already available Information related to the competitors the market demographics rate of use populations behaviors and lifestyle patterns are created in a database and used for situational scenarios that will help the business determine their overall strategy The second type of research is the primary research This type of research is when information is generated through current sales and how the current marketing plan is working The current marketing plan will be measured against the sales to determine if a change needs to be made The effectiveness of competitors in the market is also analyzed and communicated with primary research Another area that Kudler Find Foods needs to work on in their marketing research plan is the location Although the companies are trying to market the gourmet products in the rich to middles class neighborhoods it will be a great idea for the company to find a market for less fortunate customers Because of the gourmet tag not many people are able to afford the price range of goods They need to market items that are budget friendly so that more people can frequent their stores In other words price and affordability should be the key moving forward and at the same time not neglecting the high priced quality products For a market research to be useful it must contain a detailed plan on the method that will be used to collect information and how it will be analyzed By doing so it would allow Kudler Fine Foods management team and business managers to make correct decisions All of this information will aid the company in creating promotions and the strategies to gain the market share that they sought after In conclusion in today s competitive business world it is important to have the right data when developing a marketing plan Kudler Fine Foods knows that without a marketing plan the business is set up to fail Marketing methods and tools are the basis of the marketing strategy that company will use to elevate to the top of their market The gourmet market is a very specialized market and competition is very scarce It is very important for the company to continue to exceed all eXpectations and identify areas where additional research is needed From a consumer s perspective Kudler Fine Foods is an easy and shopper friendly store and the website is easy to find the way for someone looking for more information The company has eXperienced significant growth and is now focused on eXpanding the services improving the efficiency of its operation and increasing the customer purchase cycle as a means to increasing the faithfulness and profitability of its consumers Expanding services common shopper program and cost reduction are some of the ways that Kudler Fine Foods are increasing loyalty Marketing Place According to Kerin Hartley Berkowitz and Rudelius place is a means of getting the product into the customer s hand In Kudler s catering business the term place could be at any location desired by the customer The location could be the resident of the customer could be the retail store or any public Facilities Delivery service is mandatory to ensure the food is stay in the best condition before its being serviced on the table Kulder should assign an employee as the catering coordinator for each catering order The catering coordinator will be responsible of contact the customer for deliver time and ensure the quality of the food and the service For large order catering manager should stay until the end of the catering event Kudler s Target Market and the Use of Technology Kudler needs to eXpand their current database and upgrade their software as the business grows bigger The company should use the information that is collected by the frequent purchase program For corporation customer direct email faX and phone call to the contact person might be a better move toward to contact the customer for new product and service For regular customer a direct mail to their residential address might be more suitable Kudler should also enable the internet purchase option so the customer will be able to place their order online and track their order instantly Place Kudler needs to define where the catering service should be implemented The company needs to ensure that the food is delivered to the customer safe and on time A good transportation channel can reduce the risk during delivery and increase customer s satisfaction Promotion Promotion is the key to success in any of the new service How and what channel is Kudler going to promote the catering service is very important Direct mail email and store yer are some of the good option for Kudler to introduce its new catering service to eXisting customers Other tools to attract new Customer will be radio newspaper television advertising Kudler can also host special food tasting event in each store Catering Effect on the Organic Produce Business Kudler can include the organic produce in their catering menu as the fresh raw material can be easily available at short notice However the purchasing manger will need to work closely with the organic growers to sure the supplies of the produce The menu will need to be modified very frequent as most of the organic produces are seasonal The local growers will benefit from the addition business if the catering service is stabilized Conclusion As Kudler Find Foods continues to get bigger their business area the needs of the customers must be maintained and careful at all time The company needs to utilized their skills and provide the right miX of product price place and promotion to continue their success As the catering business takes off following marketing studies should performed to ensure customer satisfaction and adjustments made as tastes or demands change References httncomnetitive inte11igencemirumnet 0uthtm htt secam us
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