Kudler Fine Foods is an epicurean grocery store for the connoisseur in which noteworthy growth with a focal point on increasing revenue, advancement concerning the effectiveness of operations, and shortening the consumer acquisition cycle is Kudler’s main objectives. Enclosed in this term paper is the significance of marketing research pertaining to the expansion of Kudler Fine Food's marketing line of attack and identification of the regions in which Kudler calls for additional market research is necessary. In addition, a comprehensive analysis concerning the value of competitive intelligence and breakdown with relation to the improvement of Kudler Fine Foods marketing strategy and tactics is scrutinized.
Market research is an essential function in all aspects of a business’s approach when it relates to growth and diversification. In view of the fact that Kudler Fine Foods is increasing its services it then needs to be familiar with its competitors. Thus, market research continuously aids in shaping Kudler’s brand position in an effort to stay ahead of their competition. Moreover, market research assists Kudler’s with identifying their current and desired market share. Therefore, Kudler Fine Foods will have the ability to recognize the areas in which they are more powerful then their rivals. As a result, Kudler can hone these influential areas and implement a superlative strategy in an attempt to stay ahead of the competition. Furthermore, marketing research will make available prominent conditions with reference to the target market, consumer opinions, and competitive state of affairs. What is more, the purchaser necessities and needs will be addressed, and supply concrete signs on the subject of the marketing approach, methods and marketing mix that are more fitting for the firm, Perreault, (2009).
Additional Market Research
Kudler Fine foods has already aspired two things into their marketing plan in an effort to amplify revenues. Kudler is intensifying their services by offering parties hosted by world renowned chefs for their existing clientele in which these chefs illustrate how to prepare and arrange gourmet foods. As well, Kudler’s puts forth a frequent shopper program for the consumers who pay for items regularly with the construction of a loyalty points program. Therefore, the plan will endow patrons with points in which the customer can trade in for high ticket items, airline upgrades, and specialty food products, Kudler Intranet Site, (2011). However, though Kudler has implemented the aforementioned initiatives in an effort to catch the attention of new patrons and stimulate or raise existing customers purchase habits questions come to mind.
Is Kudler positive that the consumers want parties and loyalty programs? How did Kudler settle on what was the most important component that would be a magnet for more business? Hence, before Kudler decides to place into motion any course of action or program, Kudler...