Marketing Research on Kudler Fine Foods - Essay Example

Marketing Research Kudler Fine Foods: Virtual Organization (College) Kudler Fine Foods: Virtual Organization Introduction Regardless of the size or structure of the business, marketing is an important tool for every organization. However, recently marketing research has been developed as a modern tool that can resolve various market issues and to conduct marketing activities more effectively. This paper will critically analyze the significance of marketing research with regard to Kudler Fine Food’s marketing strategies and policies.

It will also identify the firm’s other crucial areas where additional market research is required. Kudler Fine Food Virtual Organization The Kudler Fine Foods or generally Kudler is a gourmet food market which was founded by Kathy Kudler. The company offers extensive selection of food ingredients and freshest products at affordable prices. Kathy’s concept rapidly became a success as she could effectively combine convenience and affordability with the product and services (Kudler Fine Foods).

In addition to the in-store events, Kathy wishes to enter catering service field as part of business expansion. Mrs. Kudler has plans to add to the inventory and ordering automation by introducing new e-commerce capabilities and an online catering link (Kudler Fine Foods ). In order to be successful in her new business idea, she has to build a solid business foundation and identify the market mix. For this purpose, it is necessary for the organization to get a detailed view regarding current trends and taste preference of the consumers.

In addition, the organization needs to identify potential threats and opportunities to the proposed program. In this situation, the organization has to deal with marketing research techniques in order to determine a defined action. Some of the current survey results show that the company’s consumers are dissatisfied. However, the survey results are not adequate to find out the root cause of the issue or to choose an appropriate course of action. At this juncture, various elements of marketing research would assist the organization to clearly define the marketing problem.

It seems that the company does not have an effective system to determine the efficacy of its decisions although it has clearly defined its strategic objectives. Collecting information on both market trends and operational outcomes would be beneficial for the organization to assess the effectiveness of its policies. Today people are increasingly aware of the required health quality. Hence, marketing research would be an effective tool for the firm to par its products with the modern consumer requirements.

According to Gal (2003, p. 7), market competition is a crucial element that every organization must take into account. In addition to forming its own business aspirations, a firm must know its competitors and what they are concerned with. In order to identify its potential competitors, the company must apply certain effective marketing research techniques. Marketing research would greatly assist Kudler to design the new ‘outdoor catering service’ concept attractively. Evidently, the company has some areas where additional marketing research is needed.

Although the company practices advertising tool, some additional tactics have to be applied so as to introduce the new business concepts to the market. For the effective designing of such promotional tactics, marketing research program is necessary. Since Kudler is a well established firm, it has large group of potential customers. This strength would give the firm further scope for product innovation; however, marketing research is necessary to explore area of innovations that can offer further opportunities.

To be specific, Kudler Fine Food must apply competitive intelligence while developing marketing strategies and promotional tactics in order to overcome the increasing competition. Competitive intelligence simply refers to the art of collecting, defining, distributing information on products, market, competitors, individuals, ideas or data, and all which are important for managers in making marketing strategic decisions. While proposing business expansion or new product launch, it is important for a firm like Kudler to identify how much traffic its competitors are getting and what areas of weakness they involve, that can be utilized as Kudler’s competitive advantages.

Kudler must test the new business itself by estimating how well it must perform. Secondly, it has to test how effectively the competitors are performing. Conclusion The above discussion points out that Kudler has to initiate marketing research so as to develop its marketing strategies and tactics because only an effective marketing research can identify potential opportunities and threats to the proposed business concept. Some additional research is needed in the field of promotion as it may assist the company to keep its products and services distinct from those of competitors.

Competitive intelligence play the most vital role in determining the effectiveness further strategic decisions Kudler would make. References Kudler Fine Foods. Retrieved from http://kudlerfinefoods.info/ Gal, M. S. (2003). “Competition policy for small market economies”.US: Harvard University Press.