Affordability and convenience to meet customer demands lie in the core mission of Kudler Fine Foods. The retail space of the shop of Kudler Fine Foods is quite spacious and stores fresh ingredients of domestic and imported food items. The company is thinking of new initiative to add to serving their customers needs in a far better way. Kudler Fine Foods is planning to undertake a catering service to meet the demands of their customers. Kudler Fine Foods after achieving significant growth in their gourmet grocery food section are planning to increase the cycle of purchasing activity, improve their operating efficiency and expand its services to more number of customers. Thus Kudler Fine Foods has been providing its customers with fresh and finest bakery products, meat, and cheese, dairy and also finest imported wines. The company wants to further target high-income customers who are not concerned about price but needs quality and uniqueness in the food products. As an initiative to this objective, Kudler Fine Foods has opened a website which offers a list of grocery and food items available and also provides with the opportunity of e-commerce (Kudler Fine Foods, 2013). Recommended solutions with reasons Kudler Fine Foods after achieving considerable growth is focusing in expanding its services and at the same time increase its revenues with lower costs. There are several ways which can be recommended to fulfill the company’s objectives. The cost differentiation is not the only factor that draws customers to Kudler Fine Foods. On the other hand, their customers are more interested in receiving unique food product with freshness and also uniqueness in the service of the shop. Thus, it is recommended that that Kudler Fine Foods should focus at expanding their catering services to add to the convenience of their customers. As per marketing theory, the recommendations to Kudler Fine Foods can be broadly classified under adopting strategies for cost leadership, differentiation and focus strategies. By cost leadership, Kudler Fine Foods will be able to produce food products which are cheapest in the industry. For this Kudler Fine Foods would have to develop alliances with companies that support their inventory management by transaction through computers. By adopting differentiation strategy, Kudler Fine Foods would be able to move ahead of its competitors by providing quality fresh foods and beverages to its customers. For this Kudler Fine Foods would have focus of proper maintenance of its storage and management of its inventory. Focus strategy can also be recommended for Kudler Fine Foods to identify their market segments or customers who can be targeted. Kudler Fine Foods can offer reward programs in order to draw the target customers and maintain their data in a database. Thus by studying the customer behavior pattern and bridging the gaps between the supply and demand, Kudler Fine Foods can plan for growth through alliance, innovation, internal efficiency and customer orientation. The other recommendations include holding cooking demonstration in their retail space, hiring a business manager for specialized
Marketing Research Paper Table of Contents Kudler Fine Foods: Current situation and status 3 Recommended solutions with reasons 4 Focus areas of additional market research 5 Importance of competitive intelligence and analysis of marketing strategy developments and tactics 5 References 7 Kudler Fine Foods: Current situation and status Kudler Fine Foods is named after its owner Kathy Kudler who had a passion for foods and also had the willingness and desire to serve gourmet food to her customers…
Introduction Market research avails essential information that can be used to refine and appraise marketing actions, examine marketing performance, and enhance the understanding of marketing as a process in itself. The three types of marketing research include exploratory, descriptive, and causal (Zikmund & Babin 44).
This investigation leads to market research. With technological advancement, researchers are indulging in online researches and collecting data through different online survey methods. Ladner, Wingenbach and Raven (2002) report “a simple Internet query of ‘Web-based surveys’ produce[s] over 18,500 matches”.
Marketing research is a long process with many important steps. There are several methodologies of conducting the marketing research. The specific design for the appropriate research is changing continuously. However, there are some traditional methods which are very much important for the better results in the research field are, identifying the target group, selecting the focus group, designing questionnaire, taking surveys, sampling and analyzing the data.
Executive Summary Marketing research is a process that connects the consumer, customer and the marketer through the data and information that has been gathered. This information is collected for the purpose of defining the opportunities that exist for marketing and the problems, generation, refining and evaluation of the actions of marketing.
The motivation need theories found by Maslow, Alderfer and Herzberg have been indicated to impact consumers’ inner drives in contemporary markets. Secondary sources would be searched on relevant factors that have been found to relate to consumer characteristics, traits and beliefs that influence their behavior.
Its high concentration of sugar has been attributed as one of the reason of the rising case of obesity yet it still experience robust sales despite of its ill effect to health. So we wonder, despite all of the negative campaign against fast foods and soda, how come coke still has a strong market presence?
Followed by selection of research approach is the selection of type of data required to be used and its sources accordingly. Research areas that have not been explored yet nor have a current research present require gathering of primary data which means retrieval of data from first-hand sources.
Marketing research specifies the information required to address these issues; designs the methods for collecting information; manages and implements the data collection process: analyses the results; and communicates the findings and their implications. (Marketing News, 1985).