Introduction to Kudler’s Fine Foods
Established in San Diego, California by founder and owner Kathy Kudler, Kudler Fine Foods is one of San Diego’s upscale specialty food stores. Kudler Fine Foods have experienced exponential growth. From its humble beginnings in 1998 when the first store opened, Kudler Fine Foods has expanded to meet the demand of its customers. With three stores in San Diego’s most distinguished localities, Kudler Fine Foods offer the "very best domestic and imported fare at every location." From fresh bakery and pastry products to fresh meat and seafood, you can find it all at Kudler’s. What makes Kudler’s the best? Kathy Kudler, founder and owner say, "It is because ...view middle of the document...
Bansal and Duverger (2013) says that empirical results in marketing came from multiple linear regression models that are often susceptible to issues of dimensionality and multicollinearity.
Marketing research is important because it assists the company with creating a business plan, develop and bring to market new products, and reach consumers they have not reached before. There are a number of reasons marketing research is essential, of particular note, market research helps the company to determine which target population it will market. Who will purchase the product and is it affordable to them? Moreover, marketing research reveals to marketers what motivates customers, how they purchase, when they purchase, and how much, and most importantly of the consumers, what is their level of satisfaction.
Today, companies are fully aware that their products and services do not entreat all consumers. Every company has its own brand and its own set of customers it will attract. With all the varieties of products and services and expanded consumers, the variables are too many. Therefore, marketers must create a marketing strategy. Armstrong and Kotler (2011) say the first step in the four-step process of creating a marketing strategy is segmentation. Segmentation takes the entire market and divides it. Step two: targeting, which consists of evaluating each segment's attractiveness. Step three is differentiation, which creates customer value, and finally, step four: positioning. Ensure that the customers have a product and services in the forefront of their minds. A strong marketing strategy will help Kudler Fine Foods grow its territory and develop its products and services. Additionally, marketing strategy is important for Kudler because it will identify their strengths, weaknesses, opportunities, and any threats that may arise. Most importantly, a marketing strategy will help Kudler develop untapped consumers.
Marketing research for Kudler’s Fine Foods is indeed justified; however, to reach more consumers, Kudler Fine Foods should expand their horizons and area store locations in other regions of the city. Although the target markets are those in high-end locations, other areas in the city that would appreciate the fine foods Kudler has to offer, and will find it economical. It will take strategic marketing efforts to reach these consumers. Kulder will have to invest in commercials, internet advertisement, and the acquisition of additional properties to open more locations. Although their products and services are of excellent quality, the price is high. Kudler Fine Foods could incorporate a strategy to place items on sale on occasion. This strategy may also encourage consumers to purchase more of what they like, for a cost they like.
What patrons think of Kudler Fine Foods on each visit is important to them. Therefore, the marketing team of Kudler Fine Foods has developed a survey to seek...