With all these aims in mind the company presently aims at using market research. This paper aims at discussing the importance of marketing research for the company and also to identify the areas where additional market research is needed. The paper will also focus on the competitive intelligence which will assist in development of marketing strategy and tactics for the company.
Changes in any organization are one of the most difficult things to accomplish and marketing research in any company tends to always bring about changes (McNamara, 2006). Market research plays a very important role in businesses and assists businesses study the changes in the markets to effectively be able to accomplish the changes being intended in the company. It is essential to note that the marketing research is very beneficial in assisting the companies develop the marketing strategies and tactics. The benefits of the marketing research are as discussed below:
a) Detailing the Constraints: Kudler fine Foods will gain a strong guidance from the marketing research and will be able to focus on the constraints which are an imperative part of all decision making.
b) Marketing Action: The market researches provide the company with the required data for the development of the strategies and tactics (Kotler, 1999). This information proves to be invaluable for the accuracy of the tactics and development of the strategies.
c) Customer’s views: Marketing research provides the company with a chance to identify the customer’s responses and views. This allows the company to make more informed decisions in terms of the marketing and also in regards to the development of new products (Aksel, 2007). Evaluating the customer needs constantly allows the company to develop products and services to accurately meet the needs of the customer and to successful cater to the target customers.