Throughout this paper, I will explain the marketing research on Kudler Fine Foods. This paper will also discuss the significance of marketing research and how it affects the evolution of Kudler Fine Foods’ marketing strategy and tactics. Then, the fields where further market research is required will be distinguished. Subsequently, the significance of competitive intelligence and analysis concerning the promotion of Kudler Fine Foods’ marketing strategy and tactics will be considered. Kudler Fine Foods Marketing Research Kudler Fine Foods is primarily located in southern California with three successful sites.
The original store launched in La Jolla in 1998 by Kathy Kudler, a creative thinker who wished for a place where she could purchase everything she wanted so that she could make dinner and thought that opening a chain of gourmet markets was the answer. The Del Mar and Encinitas sites were in motion within five years (University of Phoenix, 2013). Marketing research comprises more than just talking to a consumer and asking them to fill out a survey answering questions to find out how they agree and disagree.
It implicates the identification of the elements of the part of the population that is the target market, the way people live and their values, and the information collected while conducting the fundamental research and analyzing the information. The results can then be used to make current business strategies better, make business decisions that are based on supply, demand, the demographics, avoid any indiscretions, calculate a correct likelihood and accurate probabilities centered on consistency of past experiences, and decide which strategic expenses are sensible for the company.
Marketing research draws in a lot of time and can be expensive, before making valuable marketing choices and a communication strategy, it is essential to reflect the different kinds of buyers and consumers, and possible helpful and harmful influences, which guides to the tactical marketing methods. Also, preliminary research assists to conquer existing tasks, explain upcoming purposes and proposals, and financial arrangements.
Furthermore, this early research will help to center budgets on an exact marketing phase and the attention of every phase can arrange managing systems on various marketing research methods (Armstrong & Kotler, Chapter 4, 2011). Areas Where Further Market Research is Required Kudler Fine Foods has numerous fields where additional marketing research is required. Even though it is a fantastic concept to develop proceeds in the store, teaching consumers to make these specialty foods is time consuming and too expensive.
Kudler is getting well-known chefs from all over the world to teach the customers. It is expensive to hire very prominent chefs and they will be educating Kudler Fine Foods’ customers free of charge with anticipation that it will increase their consumer’s social network. Kudler will also present lessons at the homes of their customer’s for a first rate fee (University of Phoenix, 2013). Nonetheless, customers would most likely rather take the cooking classes for free at a Kudler’s location opposed to paying a fee for cooking classes at their homes.
With the purpose of fixing this, Kudler should stop providing these cooking lessons services for customer’s altogether. They could also solve this problem by charging a first rate fee for the in store and at home trainings. The Importance of Competitive Intelligence and Analysis Kathy Kudler manages marketing research by recognizing novelty items and also stays current with new items that are available. In addition, she examines everything that the competitors have to offer and their particular sale prices and monitors the marketing in food magazines, meetings, and the internet.
Following all of the investigation, she acquires a sample and presents these products at conferences. Managers will have the opportunity to test the different products and propose their ideas and opinions. Then Kathy Kudler and the managers can talk about pricing and competition issues. Recommendations Using Kudler Fine Food’s marketing summary and organizational data as an influence, there are numerous persuasive issues covered within the business’ procedures that concern the growth of a healthy communication design and can increase ones curiosity.
The marketing outline provided is very detailed. It defines Kudler Fine Food’s ambitions to mature in order to lower expenses, gain more devotion from the customers, raise productivity, begin more evolution, and opening the company out. On the other hand, with gains of considerations and issues together, the communication procedures seem to be an expensive suggestion that should not be applauded. It should be recommended that concentrating on existing customers, instead of increasing the customer base and concentrating on present problems on the inside that Kudler is faced with.
This will intensify the likelihood of being efficient with both time and expenses, which would impact and regulate a more advantageous advertising approach, that they can use in the future (Perreault, Cannon, & McCarthy, Chapter 2, 2011). Conclusion Kudler’s Fine Foods is increasing quickly and proprietor, Kathy Kudler, recognizes that an operative marketing approach along with the execution of that plan is one of Kudler’s most important ways they will continue to be more successful than their competition.
The philosophies for development and putting new services into practice for instance, the catering service are essential to continue Kudler’s on the top of the list. Kathy Kudler and her advertising department are aware, yet, if their marketing strategy does not increase and the consumers are not provided with what they need and want, there is no way that they would be able to will not be able to continue on with their company. Marketing and the plans and policies that go hand in hand with marketing are a few of the most significant elements for an establishment like Kudler’s Fine foods to implement and to carry on using.
The marketing department, as well as Kathy Kudler, are required to analyze all characteristics of the marketing tactics that they have established as well as any innovative promotion that requires the right place to make sure that the consumers’ needs and wants are met but also that Kudler Fine Food’s is offering their new services and remaining on the right road to success. It is crucial that Kudler Fine Food’s is continuing this success by setting themselves apart from the competition.