Market Research Marketing research is very important to a company when creating a marketing business plan for a new product or service. Marketing research can be view and defined as the process of gathering and recording information on consumers, competitors, and the market. Once all the infromation is gathered and recorded it must be analyzed inorder to get an accurate and successful marketing plan developed. The information is important because it determines what segment of the population will purchase th... ... middle of paper ... ...d tactics. Marketing research needs to be conducted at different intervals during the introduction of Kudler’s new services to its customers.
The company plans on offering cooking class socials. “We will initiate specialty cooking classes as a way to increase the consumption of high-margin items among existing customers and to build awareness, trial, and regular shopping among new customers.” (Apollo Group, Inc., 2007) These classes will enable Kudler Fine Foods to tap into awareness of what customers want, where the customers are that are interested and if the catering business could be a valuable asset to the company. The well known marketing mix of, product, price, place and promotion are key components that Kathy Kudler and her staff will need to consider as she considers this new expansion of the business. The company carries a unique assortment of gourmet foods and will be able to use these products in addition to newer products in the catering service. The types of products at Kudler Fine Foods allow the company to cater events such as weddings, receptions and classy parties where the quality of the food and beverages are the main consideration.
In conclusion, Kudler fine foods has a market that specializes in providing the best service possible to their customers . Market research is a main factor that will identify market need, size and competition. The gathering of information from other business owners in other states and increasing services for frequent shoppers that is needed implements more profits. Competitive intelligence gives and outlook on what other business owners are doing. Therefore your able to strategies against what other organizations are doing within their business.
Kudler is able to increase their profitability by using operational strategies such as establishing contracts with local producers of organic produce, creating a purchasing department, and through the use of marketing tools. The purpose of this paper is to identify the business opportunities created due to the changes in the use of technology. Additionally this paper will show the generic strategy of Kudler Fine Foods, how to implement it, and the role the management team will have in keeping Kudler Fine Foods competitive in the fine foods industry. Changes in technology In today’s world technology never seems to stop changing. This technology can be beneficial to Kudler Fine Foods and it can help elevate their company to the next level.