After experiencing substantial growth, Kudler Fine Foods is now interested on increasing the loyalty and profitability of its consumers through the expansion of services, improving operation efficiency, and increasing the consumer purchase cycle (Apollo Group, 2004). Market research is the first step that Kudler Fine Foods must perform in order to increase customer loyalty and profitability. Market research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions (Kerin,Hartley,Berkowitz &Rudelius, 2005). This is performed for the purpose of reducing risk and uncertainty therefore allowing managers to make better decisions (Kerin,Hartley,Berkowitz &Rudelius, 2005). The market research process consists of five steps; define the problem, develop a research plan, collect relative data, analyze the data, solve the problem (Armstrong &Kolter, 2005).
The Importance of Market Research: Whole Foods Marketing research is invaluable to an organization. The information that is gathered from marketing research allows the management team to make educated decisions. Market research tools are chosen for various reasons, it may be a financially feasible choice for the organization or the organization may be graced with the capability to use many different tools. This paper discusses market research and lists a few tools used by one of the world's largest retailers of natural and organic foods, Whole Foods. Marketing research is the collection and analysis of data relevant to a particular market and the “communication of this analysis to management” (McDaniel, 2006).
Ø Coordinate its functions to achieve marketing aims Ø Be aware of constraints on marketing activities I will also be considering the importance of developing and maintaining a relationship with its customers, potential customers and other stakeholders. I will look upon on establishing customer needs, methods of analysing marketing opportunities, and the m... ... middle of paper ... ...ons can exert a major influence upon the stores’ accessibility and attractiveness to consumers. Planning the selection process as carefully as possible and using methods described should maximise the success. Marks and Spencer pays particular attention to social and geodemographics, along with consumer spend, before deciding on a location. Own brands are desirable products to offer, as they offer profitable margins and a high level of control over the marketing aspects of management.
Marketing Implementation Plan Kudler Fine Foods has designed a market research plan that includes using data collection tools to assist them in determining and improving their level of customer service. The data the company collects from the research tools will help determine a future marketing plan that appropriately positions their product and resonates and connects with the customers Kudler is trying to attract. Each of the tools selected will provide Kudler with insight into the customer behavior and opinions of Kudler’s customer base as it relates to customer satisfaction. They intend to expand on their current survey materials to help quantify the areas that they will need to focus on to improve their service levels. Kudler Fine Foods has developed a research plan utilizing surveys, focus groups, secondary data, and observation.
Marketing research is an important aspect of organizations to establish the value of products. The marketing tool is what convinces consumers to buy. Kudler fine food is an organization that has a selection of gourmet foods. As well as a variety of gourmet cooking essentials that is mainly for a higher clientele. There is an important direction toward the marketing goals to anticipate customer’s needs and assure that they are satisfied with the overall service and quality of the products provided.
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 variables like age, gender, location and income level (wikipedia.com, 2008). Based on these definitions, understanding a market research plan is essential to Kudler Fine Foods to promote any types of special promotions they may run, and to reach out to their public the authenticity and quality value of their merchandise and produce. Some of the marketing campaigns Kudler Fine Foods have already run will be described below. One of the most popular marketing operations was directed towards expanding services and increasing revenue.
It is a requirement for organisation to change their business strategies to follow the current trends, customer needs and requirement (Kim et al., 2001). When a management follows the service quality model from Parasuraman et al. (1985) to modifying their products according to the customer requirements, they will be more likely to be successful in the era of intense competition (Cater and Cater, 2009). This is one of the reasons that the companies are more interested in identifying the requirements of their target customers so that they can ensure that the organisation’s products are developed exactly according the client needs and requirements (Howard, 2006). This section can clearly shows the consumer expectation in fast food industry in Manchester.
The five steps are; 1) Define the problem or opportunity; 2) develop the research plan; 3) collect relevant information; 4) develop findings; and 5) take marketing actions. Marketing research begins with setting research objectives that are specific, measurable goals they seek to achieve in conducting the marketing research. The objective of Kudler Fine Foods is clear, to seek consumer demand and satisfaction of their products, build loyalty, and business efficiency. Marketing research helps formulate the tactics that will be most effective for the organization to communicate and advertise its products and
"Kudler Fine Foods has experienced significant growth and is now focused on expanding the services, improving the efficiency of its operations and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers" (, ). This paper will justify the importance of marketing research in the development of Kudler Fine Foods marketing strategy and tactics. It will also identify the areas where additional market research is needed and analyze the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Foods marketing strategy and tactics. Kudler is offering parties in the store to show customers how to prepare specialty foods. The draw for the consumers is to be trained by world-renowned chefs, local celebrities, other food experts, and even Kathy Kudler herself, and to be invited to exclusive, upscale events.
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.