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MKT421 Wk 3 Marketing Research




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Marketing Research: Kudler Fine Foods
Kathy Kudlers passion about gourmet cooking forced her to start Kudler Fine Foods in
1998. Kudler Fine Foods is on the growing path since then and now has presence in La Jolla, Del
Mar, and Encinitas. These outlets offer a wide variety ranging from seafood to bakery products
and from meat to alcoholic drinks. Offered items are both domestic and imported. Currently,
Kudler is trying to increase the sales by expanding offered services and increasing operational
efficiency. Mission of Kudler Fine Foods is to “provide their customers with the finest selected
foodstuff, wines, and related needs in an unparalleled consumer environment” (Kudler Fine
Foods, 2008, ¶2). Marketing strategies will be used to promote the newly offered services. In this
paper, we will discuss marketing techniques that can be used, explore areas that need further
research and significance of competitive intelligence.
Importance of Marketing Research
Marketing research is of utmost importance when planning to launch new products or
services. It involves information collection regarding potential customers, existing competitors
and prevailing market conditions. This information is also essential for Kudler, as it will enable
her to know the characteristics of target market. These characteristics can be location, age, sex,
and income group. Marketing plan will be refined on the base of information and this will yield
minimum mistake error with high profit chances. This information collection should continue
throughout the product lifecycle because the company will be able to judge the changes in
environment and manage the product accordingly by keeping close contact with the customers,
identify hidden opportunities and judging the performance of the whole team.
One important aspect of the marketing research is the constant contact with the
customers. The benefit of good communication with the customers is twofold. Current customers

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can be contacted along with the old ones. Current customers can be asked about the current
products and their views about it. They can tell how they see the company’s products and what
improvements they want or suggest. In addition, they can tell how well their needs are being
fulfilled by our company. Other benefit is that the customer feels good. He thinks that the
company cares for his needs and comments. If his suggestions are implemented in one way or
the other and then he is informed that his valuable feedback has resulted in some change in the
company and the company is thankful for that, you can have a guaranteed loyal customer. Old
customers can also be useful, as they will tell what complains they have with the product or
service, and this can help rectify the issues. This research will also decrease the risk of launching
and handling a new product in an inappropriate manner. The company can adjust the marketing
plan of the new product. Some changes can be made to existing products keeping in mind the
customers’ feedback.
Marketing research has another benefit of meeting the people who have already made up
their mind about the company’s product or services. The researcher gets a chance to clear things
in their minds and attract them to the company’s products, or at least make them neutral to it.
This will have a twofold affect too; one less dissatisfied or negative customer and secondly, their
thinking can help refine the marketing strategy. Every business wants to measure its success in
some way and a benchmark is the most common tool to be used. Market research can enable a
business to set a standard or benchmark and then evaluate its performance against it. This
benchmark will serve as a standard and the company will know where they are lacking and how
it should be fixed. On the other hand, if the company decides not to go for market research then
the outcomes will be unpredictable and much dangerous.
Additional Market Research Needs

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Additional market research can unveil areas that are normally not taken notice of in
normal marketing research. It can include identification of potential customers. It can also lead to
a new target market or niche and it can even lead to unique sales and marketing ideas. Basic
technique behind additional market research is to talk with people about their ideas, their
demands and their wish lists. It is only way to know how to meet or exceed their expectations.
They should be asked questions like; is there anything that you want and is not available here? In
addition, how much are you willing to pay for that specific item? Moreover, how frequently do
you purchase that item? One can easily get idea about demands of different things and
customers’ thinking of that item. These surveys should be done at all target locations to get better
results. If reasonable demand exists for some item, then that item can be provide at that outlet for
making new customers and earning profits. These items may or may not be same for each
location or stores but should be provided if profitable sale is anticipated. Another thing to be
done is the comparison-shopping. Local gourmet grocery stores are visited to check their prices
to get an idea of prevalent prices in the neighborhood. This will help the company in deciding the
prices that will be competitive as well as profit yielding. If a nearby store is selling a brand that
Kudler is also offering, then further analysis should be done about its cost and management
expense and so on. After this, the management can decide if it wants to reduce that item’s price
or sell it by investing a small amount in a campaign to highlight its presence at Kudler.
Importance of Competitive Intelligence and Analysis
Organized collection of commonly available information of competitors and the
marketplace, and its analysis constitute the competitive intelligence and analysis. It is important
to enhance decision making, following competitors activities, and for obtaining early signs of
future opportunities and threats (Armstrong & Kotler, 2009). This information may be related to

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Really great stuff, couldn't ask for more.