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Kudler Fine Foods Marketing Research Essay

1964 words - 8 pages

In business, it is critical that companies carefully conduct research before implementing new marketing strategies. Companies will often have to conduct marketing research by defining marketing problems and opportunities, systematically collecting and analyzing information, and recommending actions (Kerin, Berkowitz, Hartley, & Rudelius, 2006). Implementing new marketing plans without conducting research first, is like driving a car a high speeds on a windy road with a blindfold on. Although it is new and exciting for a few seconds but sooner than later, the company will crash into a wall of unforeseen obstacles before reaching its desired destination, and even if the company survives, ...view middle of the document...

However, the problem for many companies is that they get wrapped up in the excitement and forget the intricate and critical detail of conducting marketing research. There is a possibility that Kudler's founder, Kathy Kudler, may have fears about such research and is choosing to ignore its importance. Tim Knox said, "The problem is they are afraid their market research will tell them what they do not want to know, that their big idea - their baby - is not so cute after all" (2008).Kudler's new marketing strategies are based on what seems to be a powerful strategic objective aimed at increasing the loyalty and profitability of consumers. The company plans to do this through three marketing tactics including the expansion of services, a frequent shopper program, and increased efficiency. Kudler plans to expand services by providing cooking classes primarily to existing customers who will receive training by world-renown chefs, local celebrities, and other food experts, to increase the customer purchase rate of high margin food and beverage items and get the consumer to make an evening at Kudler Fine Foods part of their social network (KFFI, 2004). Examining the plan and data presented, one cannot determine whether or not the cooking classes will be of no cost to the customer. The reason this is important is because according to survey results for 2006 and 2007, customer satisfaction regarding the return for the monetary value of the merchandise being sold was significantly low. Between the last two years, over 54% to 60% of customers believe that the products sold were not a good value for the money they paid (Kudler Fine Foods, 2007). The reason this is a problem is because Kudler believes that price is not the primary differentiating factor for its consumers, and that this promotion will be self-funded (KFFI). On one side, charging customers for cooking classes may be risky, based on the results of the surveys, unless the company ensures or guarantees customer satisfaction by its products and services. On the other hand, if the company does not charge for the cooking classes it will become extremely difficult for Kudler to make any profit considering the plan for the classes to be self-funded and the unforeseen costs of hiring local celebrities and world-renown chefs who will teach each class. Conducting research on ensuring the quality of the products to be sold and determining that there will be an increase in revenue from this program rather than a loss, will be crucial for Kudler's future success. The results of the surveys make it clear that price is definitely and issue to the company's customers. Therefore, pushing the high margin merchandise through sales promotion might not be the best option for the company. Kudler defines its target market as high-end consumers who are willing and able to spend extra amounts of money for fine gourmet foods. It would be wise for Kudler to conduct additional market research in this area because although...

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