Marketing Research Paper on Kudler Fine Foods Virtual Organization Name Institution Marketing Tutor Date Importance of Marketing Research in Developing Kudler Fine Foods’ Marketing Strategy and Tactics Marketing research is essential for the success of an organization since information garnered aids in the development of strategic marketing plans…
It was during her trips after a corporate life that she took the risk of developing the first Kudler Fine Foods following discovery of an opportunity that she could exploit. This opportunity was sired following a discover that she could not get all her cooking ingredients in one store and this decided to open a gourmet store that would meet the niche needs of the consumers. This therefore illustrates that discovery of opportunities and exploiting them to garner a competitive advantage is one of the marketing strategy and tactics that Kudler Fine Foods employs (Kudler Fine Foods, 2011). Information technology serves as an effective tool utilized by Kudler Fine Foods Organization both for marketing research and as a marketing strategy. The organization has a web home page where it engages in online interaction with the stakeholders since it gets to acquire information on the customer responses as pertains to their products and also the needs of the consumers. Consequently, the web page enables Kudler Fine Foods to internetwork with its various branches hence reducing the travelling cost incurred in absence of online communication services. Also, following use of online home page, information gathered aids in the strategic decision making of the organization. This therefore enables Kudler Fine Foods to garner a strategic position in the industry as a result of incorporation of IT in the provision of its products and services (Kudler Fine Foods, 2011). Diversification is another marketing strategy employed by Kudler Fine Foods Virtual organization and marketing research will greatly influence the effectiveness of this strategy. Diversification is illustrated in the provision of products and services that the organization engages in hence making their stalls a one stop shop for their consumers. The organization by carrying out marketing research will be in a position to know the current wines that are preferred by the customers and thus prepare the wine. Consequently, in the baking department, marketing research will aid in developing of different cakes and in learning the market trends of cake consumption. Moreover, in the meat and cheese department, marketing research will provide valuable information as to how the organization can improve the provision of its goods and services. Following the recent development of Kudler Fine Foods Virtual Organization as pertains to expansion capabilities, there is clear indication that market research plays a dire role in not only diversification but also in market entry approaches. Investment in market research will enable Kudler Fine Foods achieve the vision of being the premier grocery and gourmet store (Kudler Fine Foods, 2011). Areas where Kudler Fine Foods’ needs additional market research Kudler Fine Foods needs to do additional market research as pertains to its procurement strategies. Currently, in an attempt to cut cost, Kathy the director is the one responsible for ordering for all the three stores on a weekly basis. Though it is cheaper, it reduces the time she interacts with her customers as the procurement and distribution takes the bulk of her time. The organization needs to carryout additional market research as to how it can procure products for the three stalls, to ensure that Kathy accesses the people on the ground and gets to know the preferences of the consumers form the ...
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