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With all these aims in mind the company presently aims at using market research. This paper aims at discussing the importance of marketing research for the company and also to identify the areas where additional market research is needed. The paper will also focus on the competitive intelligence which will assist in development of marketing strategy and tactics for the company.
Changes in any organization are one of the most difficult things to accomplish and marketing research in any company tends to always bring about changes (McNamara, 2006). Market research plays a very important role in businesses and assists businesses study the changes in the markets to effectively be able to accomplish the changes being intended in the company. It is essential to note that the marketing research is very beneficial in assisting the companies develop the marketing strategies and tactics. The benefits of the marketing research are as discussed below:
a) Detailing the Constraints: Kudler fine Foods will gain a strong guidance from the marketing research and will be able to focus on the constraints which are an imperative part of all decision making.
b) Marketing Action: The market researches provide the company with the required data for the development of the strategies and tactics (Kotler, 1999). This information proves to be invaluable for the accuracy of the tactics and development of the strategies.
c) Customer’s views: Marketing research provides the company with a chance to identify the customer’s responses and views. This allows the company to make more informed decisions in terms of the marketing and also in regards to the development of new products (Aksel, 2007). Evaluating the customer needs constantly allows the company to develop products and services to accurately meet the needs of the customer and to successful cater to the target customers.
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This lack of prior experience has hindered Kathy’s ability to delegate the proper responsibilities to her small management team effectively. Kathy has spent most of her time at the stores, selecting and ordering her products. She has also occasionally operated the cash register, and even stocked the shelves after the store closes and before it opens in the morning.
Factors for marketing communication plan.
Kudler Fine Foods needs to prepare a marketing communications plan to create awareness about the Too Fresh to Go product line. The product has the potential to be consumed by virtually any type of customer since the product can be consumed out of the comfort of your home without the hassle of cooking a meal.
The product the company created is called Too Fresh to Go meals. The product offers the customers a pre-cooked healthy meal that can be eaten at home. This product has the potential to penetrate the market well because there a necessity for these types of products among the working class that does not have time to cook every day.
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.
However this changed when later on in early 2007 it changed its name to Apple Inc after moving away from been a company that strictly dealt in personal computer. It broadened its target market to include all consumer electronics and computer software as well.
This means that marketing research helps the company in making managerial decisions. Marking research goes beyond the competition in the market with other competitors because it helps the company understand areas where customers are not served well, and specifically, which market segments are left out (Pride and Ferrell 2012).
In addition, KFF will increase its market presence and service offerings through innovation by implementing a web-based Catering service to its home and corporate consumers.
The strategy will be executed in a phased approach and will initially focus on operational excellence.
The Company now plans to improve its marketing strategy to increase the loyalty and profitability of customers, to increase revenues and decrease costs.
Marketing has been defined as an organizational function, which comprises a set of processes that focus upon producing,
Presently, it is now in a position to think on the next step in its business and prepare plans for the growth of the business considering its current status and its goal. There are three main possibilities,