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Marketing Research Paper Gaining reliable marketing information is a critical activity before the deployment of a high-performance marketing plan. The company has aspirations to expand its scope of operations and boost the loyalty of its customer base.
In order to achieve these goals, the company will conduct marketing research to identify opportunities and threats that are currently present in the external environment Staff Marketing research can be defined as the process of collecting custom data and competitive intelligence that will enable managers to make value-adding decisions.
Areas that Require Additional Marketing Research Kudler Fine Foods has seen a high degree of success in the regional grocery store industry, but there are areas of failure in the business model that must be examined in greater detail.
Currently, the company is only taking advantage of newspaper advertisements in the local area to run sales. The importance of newspaper as a marketing medium is rapidly diminishing for many businesses. Youthful generations of consumers do use printed newspapers to obtain information in their daily lives — rather they should opt to use social media, mobile technology, and other web-based technologies.
In is essential that Kudler Fine Foods researches the viability of using these alternative marketing tools to engage their customer base. Marketing research can be conducted to analyze the potential cost and return on investment of using these methods.
Competitive Intelligence and Analysis The grocery store industry is notorious for being fiercely competitive and driving down the profit margins to the lowest possible level.
Competitive intelligence is a marketing research topic the focuses on the threat posed by external competitors.
As a premium store, Kudler Fine Foods can offer higher prices, but it must demonstrate additional value by offering exceptional customer service and a wide product selection. The average consumer in San Diego has many alternatives when it comes to food shopping — therefor it is essential that efforts be made to stand out from the competition and meet the demands of a specific niche.
Understanding the types of products and the nature of advertisements being displayed by competitors will help Kudler Find Foods target a specific niche in the market.
It is recommended that the company develop robust techniques for monitoring the activities of its closest competitors. This is a tool that allows a company to manage its social media accounts and also monitor the activities of its competitors Kelly The company can use this tool to gather value information related to the trends of its competitors and forecast future changes in consumer preferences.
For example, if a local competitor starts selling a new type of organic coconut water that is a hit with consumers, social media monitoring will provide early indications of this trend.
The company can then take steps to add this product to its store shelves or offer similar product to attract customers. Social media outlets can then be exploited to display advertisements and start conversations with customers regarding this specific product.
The end result of these efforts will lead to a much more valuable collection of marketing research information.Kudler Fine Foods Companies constantly evaluate their performance by comparing it with its industry competitors and with other successful businesses from other industries.
To do that there are many ratios out there that makes the comparison much easier. MKT/ Marketing Research Analysis: Kudler Fine Foods Name Date Instructor Marketing Research Analysis: Kudler Fine Foods Passionate about gourmet food and cooking, Kathy Kudler founded Kudler Fine Foods in Aug 10, · Kudler Fine Foods strategic Plan Jonathan Graves University of Phoenix STR Strategic Marketing and Implementation Dr.
Joseph Walkowicz July 5, Executive Summary The pleader team of KFF have undertaken a goal of developing a modern strategic political platform to capture the freshly tinct of the company. employed at Kudler Fine Food, the external and internal environment data are used to determine the organizations strategic intent, mission and its core values that make the organization what it .
Kudler Fine Foods Proposal Instructor: POS/ Background and Business Application Proposal Kudler Fine Foods is an upscale specialty food store, servicing the fine food conesouer from their three California locations.
Jan 11, · Kudler Fine Foods Problem Statement and End Vision Introduction Kudler Fine Foods (KFF) is an upscale epicurean grocery stemma that has four localisation principles in the San Diego metropolitan; La Jolla, Del fault, and Encinitas.