Kudler Fine Foods – Importance of Market Research
Kathy Kudler decided to create a market that offered a variety of the finest food and products at reasonable prices. In San Diegos metropolitan area is where Kudler Fine Foods has three locations. Every location each store is stocked with the finest, bakery, produce, meat, dairy products, and imported wines. In addition to their store locations Kudler is also gathering information about a catering business. This paper will discuss how important research is concerning the marketing strategies and tactics of Kudler Fine Foods. I will also include information about competitive intelligence, additional marketing strategy and their tactics.
Importance of Market Research
Collecting research and analyzing the information to assist in making decisions is marketing research. This type of research is important because it helps in knowing what consumers want, the best location, and who their competition is. “Kathy and management at Kudler have developed an amount of the budget to be used for the purpose of market research “(Hardman, 2009).To increase the chance of the company succeeding they will conduct marketing research. Diverse marketing research plays a very important role of the companys strategy of expansion. The company will be adding additional services so it is important to do the market research to see who the competitors are.
By conducting this research will help Kudler Fine Foods know what the best location is. This will help in determining the areas where the products will most likely sell and also let Kudler know which products the consumer want at those locations. Surveys and questionnaires are also good when the company wants to know what consumers want. The goal that Kudler has is to make sure the customers needs are met, and. Kudler has developed strategies and tactics that are well-organized as a result of marketing researching. Marketing research is a successful tool, and it also helps with decision making. This type of research gives information which will be valuable about what the customers want. According to Hardman (2009) “Through market research Kudler has the opportunity strategically to offer exquisite catering services to its customers” (page 1).
The catering service will allow Kudler to help customers with large order and also get togethers they may have. Kudler will have to do a lot marketing research to do so they can determine is adding a catering service will be a benefit for the company. Doing marketing research will help Kudler in determining the popular foods items and recipes so they will be able to have the catering service. This research will help them to keep track of products that would be used for events and also their top purchased items. This information would let them determine what should be put on the catering menus.
Additional Market Research
Market