Marketing Research: Kudler Fine Foods Essay

2020 words - 8 pages

The American Marketing Association, representing marketing professionals, states that 'marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders." Marketing serves the needs of both the buyers and sellers: marketing delivers a genuine value in the goods, services, and ideas to the buyers (Kerin, 2006), while helping the seller make a profit by selling the goods, services, and ideas provided by the seller.Kudler Fine Foods' (KFF) mission is to offer the consumers who are "aspiring to purchase the finest epicurean delights" with "the finest in selected foodstuffs and wines" in stores staffed by "experienced, helpful, and knowledgeable" employees (Kudler Fine Foods). KFF' objective is to offer the highest quality products to their customers, and increase their goodwill and attract more customer base and be profitable. Marketing serves the needs of both KFF and their customers, by offering the customers with the highest quality products and services that KFF can bring and by enabling KFF to attract customers who are willing to pay for better quality products and services.Currently KFF is focused on expanding the services, improving the efficiency of its operations and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers. As part of their current marketing strategy to achieve these objectives, KFF is embarking on three tactics:Expanding Services: KFF is offering in-store parties to show customers how to prepare specialty foods by well-renowned chefs, local celebrities, and other food experts. With this tactic, KFF would be able to increase the customer purchase rate of high margin food and beverage items. This increased time spent in the store would also increase the overall revenue per visit benefiting KFF.Frequent Shopper Program: KFF' new initiative is to track the customer purchase behavior to help KFF refine its processes and offerings to best satisfy their valued customers. KFF' customers are focused on high quality goods and services, and price is not a differentiating factor for KFF' customers; offering high quality products and services that satisfy their customers would help KFF increase customer base.Increased Efficiency: KFF is targeting to improve internal processes to reduce costs and offer employee training programs which would help KFF to achieve customer satisfaction.Importance of Marketing ResearchKFF has seen positive results with these three tactics, and along with these three initiatives, KFF is planning to add catering services to their marketing strategy-mix. Catering to parties and for busy dinners for busy and quality focused consumers, could help KFF in increasing their profit margin. Catering although could prove to be profitable, could prove to be very risky for KFF, Tan states that, the success of...

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