Kudler Fine Foods - Research Paper Example

Kudler Fine Foods Kudler Fine Foods is an expensive specialty food store with the very best imported and domestic products in the metropolitan areaof San Diego. It is dedicated to providing quality services and products to its consumers. The main vision of the organization was to achieve high customer satisfaction at the time of establishment of business. It has set up three business locations with further prospects of expansion. Efficient marketing strategies lead to escalated profit margins (Acme Articles).

Marketing Research helps assessing the information needs and therefore provides management with accurate, valid, current, actionable, and relevant information. Marketing Research is required to provide sound information in today’s competitive marketing environment. These decisions are not based on intuition, pure judgment or gut feeling. An incorrect management decision may be made if sound information is not available. It is important for Kudler Fine Foods to work on the new trends of the market through having proper knowledge of the market.

In the service sector, it is necessary to know the products which are gaining popularity. For case in point, Kudler Fine Foods will have to sell products which are gluten free as they are becoming more admired and began to increase market share. Kudler Fine Foods will have to market those products to the right target group in addition to selling those products. The companies are required to have in place a system to sort out and store data for reviewing the environment of the market. Thus, Kudler Fine Foods from the program of frequent purchases is provided statistical information.

This data helps identify products purchased recurrently by the customers. To find out whether the pricing strategy is apt or not, the recognition of frequent purchase of products and the products which are not being frequently purchased is required. Kudler Fine Foods will necessarily have to depend on the various strategies of marketing research as for variations with consumers, products and markets it is vital to acquire data from each segment of the market. There are many ways of obtaining the data.

One among them is the descriptive research which usually involves finding the extent of relationship between the two factors or the frequency that something will take place. For Kudler’s marketing strategy, the external data is also essential. In addition to this, though, it is very dissimilar from the descriptive research but it is still full of impacts for the company. Moreover, the external data is also used to identify the type of products being purchased, the purchaser and also in the identification of the characteristics of the consumers.

Leaving aside all this, marketing is known to be an essential element for any business. It shows how a company identified to the public. Without market research, the customers will either not know about the existence of the product or will not know all the applications of the product that is what it is, what it is made from, who makes it, where can it be purchased, when it came on to the market, why the consumer should buy the product, and how it can help the customer. Marketing research is one of the main factors.

Kudler is benchmarking Nordstrom department stores from a service perspective. The firm is also taking efforts in training employees. The purchase department of the organization has been encouraged by the marketing efforts to find alternatives in minimizing the amount of food to be stored and to reduce ordering costs of food. Purchase department having developed a supplier relation program requires initiatives by the marketing department in the rolling out of the program. The firm is also in the process of developing and integrating a system which could track customer purchase behavior over a period of time.

These processes should help in reducing the overhead inventory. The consumers will also be happy as they will get what they want at the time requirement arises. The new system which the purchase department is in the process of integration will help them in ascertaining the type and quantities of items required. In conclusion, the new processes and initiatives that Kudler Fine Foods are planning to go into effect should expand their loyal customer base along with a growth in profit. providing For faster and better service to its consumers, streamline the company by issuing new software and providing employee training programs which will make Kudler more competent.

Reference Acme Articles. (2012). Kudler Fine Food Virtual Orgainzation. Retreived from http://www.acme-articles.com/article/Small_Business/Kudler_Fine_Food_Virtual_Organization/88120.