The consumer purchase behaviour research performed at the individual customer level through direct purchase activity gains insight of consumer buying habits. The organization’s internal marketing data base serves as a valuable asset to access consumer information, indentify marketing opportunities, problems, demographics, psychographics, and buying behaviours. Research specifics revealed through primary data collection are demographics, economics, and lifestyle characteristics of current and potential Kudler Fine Foods consumers; characteristics and usage patterns of current and proposed products; and forecasting sales of current and new products. A secondary data gathering, marketing intelligence is also a valuable tool for Kubler Fine Foods to analyze public information about new consumers, competitors, and developments in the market place. The goal of gathering marking intelligence is to improve strategic decision making by understanding the consumer environment, assessing and tracking competitor’s actions, and providing early warnings of opportunities and threats (Armstrong & Kotler, 2009).
Some types of marketing research could be studying product usage, corporate image, and customer satisfaction through surveys. Consumers can be asked to trial new concept products or get feedba... ... middle of paper ... ...ting research to stay in touch with their customers. They understand that to maintain a leader in their industry they must stay connected to the people that shop in their stores. Works Cited Customers still place value on value. (2011).
It is believed that this program will encourage consumer loyalty and word-of mouth marketing (Apollo Group, 2004). The frequent shopper program proposed by Kudler is designed to track consumer purchase behavior and offer customer incentives through a loyalty points program. Better understanding the customers purchase pattern is one way that Kudler believes that they can refine their processes and while maintaining customer satisfaction. Kudler Fine Foods understands that quality and selection are most important to their customer and price is not a differentiating factor. Therefore, the loyalty points program will provide customers with redeemable points that can be used for high-end gift items such as airline upgrades or other specialty foods (Apollo Group, 2004).
P3 Marketing Research Marketing research is the process of defining a marketing problem and opportunities, systematically collecting and analyzing information, and recommending actions (Kerin, Hartley and Berkowitz, 2009). Marketing research helps assess market potential, gives insight to into customer motivation, purchase behavior and consumer satisfaction. The purpose of marketing research is to gather, analyze, and interpret data related to the company’s market, competitors, marketing objectives, and customer demands. Kudler Fine Foods is a gourmet grocery store that has experienced significant growth, and is now focused on expanding its services, improving the efficiency of its operations, and increasing the consumer purchase cycle as a mean to increasing the loyalty and profitability of its consumers. The organizations strategic objective is to increase loyalty and profitability of consumers.
The planning phase consists of a SWOT analysis as well as organizing specific marketing strategies and tactics for each marketing mix element. The implementation phase puts the marketing plan into action by obtaining resources, designing the organization and executing the marketing program (Logman, 1997).The control phase compares implemented program with the plan's goals to decide if the plan is effectiveness or needs adjustment. The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer.
Kudler’s Strategy Kudler Fine Foods is in a position to use its information technology, marketing strategies, and sales plans to create a prominent place in their niche market. Focusing on internal and external environments will help Kudler formulate a successful plan for the future and prepare for the changes that occur in such a diverse platform of partnerships, contracts, suppliers, and customers. Having a sales plan in place shows forward thinking of the management team. Planning is the most important part of being a successful enterprise and now that Kudler has three stores they are in a position to evaluate where they are and develop their future. The grocery business has changed dramatically in the past decade, as have consumers’ tastes, preferences, and demands.
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.
As the customers, due to globalization becomes extra challenging, so the producers have unspoken the psychology of customers and direct them with realistic facts to provide to the marketplace and dish up the public. Consequently, customers can finish up building improved foodstuff options if they create value and create make use of the labeling. The consumers with the help of labeling gets to know and understand the product characteristics, nutritional properties, preservation and instructions to facilitate the consumers to make a sound decision at the time of purchase, hence it carries a great significance (Senesi et al, 2006). The following question is therefore proposed Q Is there any effect on the product label packaging in differentiating products and influence consumer evaluation of the
For instant, supermarket will give discounts to it’s customers for certain products in order to attract more sales. Personal selling is a face to face presentation by seller to buyer for the purpose of making sales and promote customer relationships. Public relations (PR) is a conduct of establishing good relations with company’s external publics via favorable publicity. Public relations are important for a company’s image and also their future. Direct marketing is a act of making straight forward communication
Businesses want information to make decision about their management as well as specify their strategy to survive in market. Managers need to access, develop, analyse and distribute information to help them making decision. Marketing research is the way to gather information in area that link to consumer to figure out what they want to contribute company opportunity in market as well as organization developing because of uncertainly market need. There is several method of marketing research that company can use for improve their products or services. Depending on analysis procedure, qualitative research and quantitative research are used to highlight.