Kudler Fine Foods and Market Research
Kudler Fine Foods and Market Research
Introduction
The definition of marketing as stated by the American Marketing Association is 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.” (marketingpower.com, 2008) Marketing is not a choice but yet an essential part of any business. Kudler Fine Foods is a local upscale specialty food store located in the San Diego metropolitan area. The company has three locations (La Jolla, Del Mar and Encinitas). Each store has a large amount of retail space located in a stylish shopping center. The stores are stocked with the very best domestic and imported produce (phoenix.edu, 2008). Kudler Fine Foods has decided to explore new options to which they might offer to their customers. This paper will first justify the importance of marketing research in the development of Kudler Fine Food’s marketing strategy and tactics. Next the paper will explain Identify the areas where additional market research is needed.
Market Research Market research is very similar to the nine-step problem solving model. Market research in most cases will always lead to some type of change. Market research helps to study the marketing changes an organization needs to accomplish. According Perreault and McCarthy (2005) marketing research is defined as “procedures to develop and analyze new information to help marketing managers make decisions.” Market research is the process of systematically gathering, recording and analyzing data and information about clients, rivals and the market. Its uses include helping create long term business plans, launching new products or services, fine tune existing products and services, and expanding into new markets. Market research can be used to determine which portion of the population will purchase a product/service, based on
Introduction
The definition of marketing as stated by the American Marketing Association is 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.” (marketingpower.com, 2008) Marketing is not a choice but yet an essential part of any business. Kudler Fine Foods is a local upscale specialty food store located in the San Diego metropolitan area. The company has three locations (La Jolla, Del Mar and Encinitas). Each store has a large amount of retail space located in a stylish shopping center. The stores are stocked with the very best domestic and imported produce (phoenix.edu, 2008). Kudler Fine Foods has decided to explore new options to which they might offer to their customers. This paper will first justify the importance of marketing research in the development of Kudler Fine Food’s marketing strategy and tactics. Next the paper will explain Identify the areas where additional market research is needed.
Market Research Market research is very similar to the nine-step problem solving model. Market research in most cases will always lead to some type of change. Market research helps to study the marketing changes an organization needs to accomplish. According Perreault and McCarthy (2005) marketing research is defined as “procedures to develop and analyze new information to help marketing managers make decisions.” Market research is the process of systematically gathering, recording and analyzing data and information about clients, rivals and the market. Its uses include helping create long term business plans, launching new products or services, fine tune existing products and services, and expanding into new markets. Market research can be used to determine which portion of the population will purchase a product/service, based on
References: American Marketing Association, Marketing power (2008) Dictionary retrieved electronically on July 9, 2008 from http://www.marketingpower.com/_ layouts/Dictionary.aspx? Letter=M Kudler Intranet (2008). Retrieved electronically on July 9, 2008 from https://ecampus.phoenix.edu/secure/aapd/CIST /VOP/Business/Kudler/KudlerHome002.htm Perreault, William D.; McCarthy, Jerome E. (2005) Basic Marketing A Global- Managerial Approach, McGraw Hill & Irwin Market Research, (2008) Retrieved electronically on June 9, 2008 from http://en.wikipedia.org/wiki/Market_research