Kudler Fine Foods Marketing Research Case Study

Marketing Research

Ben Enuma

University of Phoenix

Marketing

MKT/421

Susan Tomaski

September 18, 2012

Put simply, marketing research is the process of finding solution or answers to specific consumers needs through a thorough study of situational factors. Marketing research is important to developing marketing strategy because whatever strategy an organization adopts, it requires reliable information or data for decision making and planning. For instance, when a firm wants to roll out a new product, it is mandatory to select a market and have a strategy that will help penetrate the market. However, to fully understand the target market, a rich data which details consumers’ trends and behavior will be needed. Hence, marketing research will naturally be the first step in developing a marketing strategy.

Of course the principal factors in marketing research include time and cost. Time and cost are mutually interrelated and they both have potentially negative and positive impacts on marketing research. Hence, when planning for a marketing research, serious consideration should be given to three keys areas. These are (1) justifying the importance or relevance of the research, (2) identifying areas where additional market research is needed, and (3) analyzing the importance of competitive intelligence. Using the marketing overview of a reputable company in the food industry, Kudler Fine Foods, as a case study, this paper seek to address the three issues raised above.

Marketing Overview

Kudler Fine Foods has a mission to “provide our customers the finest in selected foodstuffs, wines, and related needs in an unparallel consumer environment.” Over the years, the company 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.” To this end a robust marketing plan and strategy was developed with the objective to increase loyalty and profitability of consumers. This plan has three clear strategies, namely: (1) Expanding Services (Revenue Increase), (2) Frequent Shopper Program (Revenue Increase), and (3) Increased Efficiency (Cost Reduction).

The Importance of Marketing Research

Marketing research is very important in developing a marketing plan for Kudler Fine Foods. There is need to clearly identify the target market for her products and services. This is what will form the basis for product development