Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Marketing strategy chapter 3
Marketing strategy chapter 3
Marketing strategy chapter 3
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Marketing strategy chapter 3
Kudler Fine Foods is a three-store gourmet grocer in Southern California. Kudler Fine Foods specializes in providing unique and high quality ingredients for the savvy shoppers in search of the finest meats, produce, cheeses and wine (University of Phoenix, 2008). One of the opportunities stated in the Kudler’s strategic plan include offering an expanded catering service. Currently, Kathy Kudler has been providing some catering services through special requests, with very good results both in customer satisfaction and product profit margin. The following market analysis will review Kudler’s existing market research, and present opportunities based on the marketing mix for the expanding catering services.
Market Research
Kudler Fine Foods possesses three pieces of market research. “Market research is the process of defining a marketing problem and opportunity, collecting and analyzing information, and recommending actions” (Kerin, Hartley, Berkowitz, & Rudelius, 2006, p. 205). The catering service opportunity has been defined, and the collected data requires analysis.
Internal Secondary Data
Having done two consecutive years of customer comments and suggestions surveys, Kudler maintains history containing internal secondary data, which is data collected prior to the current project (Kerin et al, 2006) being researched. The survey results do not have relative value to the marketing research needed to assess the growth of the catering service. The questions posed to the customer were geared more toward the experience of shopping at one of Kudler’s stores. The target market for the catering service are those included in the “customer managed relationships” (Wind, 2008, p. 24). Along with managing the relationship the company has w...
... middle of paper ...
...to mastering the marketing mix. Business Strategy Series, 8(2), 122-131. Retrieved August 5, 2008, from ABI/INFORM Global database. (Document ID: 1374488541).
Kerin, R.A., Hartley, S.W., & Berkowitz, E.N., Rudelius, W. (2006). Marketing (8th ed.). New York: McGraw-Hill Companies.
University of Phoenix. (2007). Virtual Organization Portal: Kudler. Retrieved August 2, 2008, from University of Phoenix, rEsource course module, MBA/502 Managing Enterprise Website.
Wind, Y. (2008). A Plan to Invent the Marketing We Need Today. MIT Sloan Management Review, 49(4), 21-28. Retrieved August 3, 2008, from ABI/INFORM Global database. (Document ID: 1520405531).
Yudelson, J. (1999). Adapting Mccarthy’s Four P’s for the Twenty-First Century. Journal of Marketing Education, 21, p. 60-67. Retrieved August 3, 2008, from EBSCOhost database. (Document ID: 10.1177/0273475399211008).
Armstrong, Gary, and Philip Kotler. Marketing: an introduction. 11th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2013. Print.
Panera seems poised to continue to dominate the bakery-café market and continued sustainable growth is very likely. Works Cited The “Annual Report” (2010). Retrieved from http://www.panerabread.com/pdf/10k-2010.pdf “Company Overview.” (2011). Retrieved from http://www.panerabread.com/about/company/ “News Release.”
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill Company.
Lamb, C. W., Hair, J. F., McDaniel, C. D., & Wardlow, D. L. (2009). Essentials of marketing (6th ed.). Cincinnati, Ohio: South-Western College Pub..
Schultz, D.E., et al., 1994. The new marketing paradigm: integrated marketing communications. NTC Business Books, pp. 105-156.
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
A marketer doesn’t just have a plan. Marketers now open up to a wider strategic plan and it’s based on steps that balance out what the market is offering consumers. These marketers must analyze their production with these steps, then make a portfolio of the growth and even their down falls therefore this keeps these marketers to continuously innovate and create even a greater amount of value for their customers. Marketing management functions are discussed along with the marketing mix and strategy.
Armstrong, G, Adam, S, Denize, S, Kotler, P, 2010, Principles of Marketing 5th Edition, Pearson Australia Group, Frenchs Forest
Kotler, P. & Keller, K.L., (2009), A Framework for Marketing Management. 4th edition, Pearson Prentice Hall: USA
Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Marketing is not a static construct, but it grows and develops over time to become what is known as marketing today. “The marketing revolution divides neatly into four separate eras’, eras’ which parallel rather closely the classic pattern of development in the marketing revolution.” (Keith, 1960). The first of these 4 eras was until the 1930’s and was production and profit orientated, and are considered to be outdated. During this era “the new product decision was product oriented not marketing orientated.” (Keith, 1960). “The second era was a sales oriented era, whereby marketing was seen as a series of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs/wants of a selected segment of the market.” (Eldridge, 1970, p. 4). The 3rd and 4th eras are a representation of what
CHANGING PREFRECE depended vastly on the fast food manus. For example we can mention about SALAD. Now salad was never considered as a part of fast food menu. But with the change of taste and preference, fast food chains like Windy, Taco Bell, and McDonald have introduced SALAD into their menus. This preference is not stopping only with salads. In 2002, McDonald’s introduced great tasting new products including premium salads, n salads plus menu; Chicken McNuggets made with white meat; Fish McDippers; Chicken Selects; and new breakfast offerings like the McGriddle sandwiches. Here as a fast food chain, McDonald did not have to introduce new dishes in their menus but with the impression and image in the market analysis, of increasing demand and chan...
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.