Marketing Research Paper
Monday, October 5, 2012
Marketing Research Paper
To establish a successful business in a competitive market, a company must have an effective marketing team. The marketing segment of an organization is responsible for development and execution of a strategic business plan for future business opportunities. A constant essential in the appropriate development of a marketing strategy is marketing research. Kudler Fine Foods is an organization successful in the gourmet grocery industry in California however there are some marketing research needs that can enhance the success of the business. To fully understand the ...view middle of the document...
Marketing research works in conjunction with competitive intelligence to enhance the level of strategic marketing planning that goes into product development and execution. Competitive intelligence is the effort a company puts in to gather information about consumers and competitors to maintain a competitive edge on the business. Competitive intelligence allows business leaders to make appropriate business decisions to ensure the company maintains a place in a competitive market. Maintaining competitive intelligence also assists in identifying and executing appropriate marketing strategies to address the competitive market. The use of marketing research and competitive intelligence provides an advantage to the marketing team and business leaders in developing an organizational plan to enhance the business. In today's business market it is important to maintain the competitive advantage to have a signal of when to launch new products, what kind of products consumers want, and how much emphasis is needed. The opportunity for that advantage is a result of great analysis skills by the marketing team that can drive strategic marketing plans and set company goals.
Kudler Fine Foods has established itself as a competitor in the California gourmet grocery industry offering organic and gourmet cuisine products. The company has experienced significant growth over the last few years and is concentrating strategic planning efforts on consumer loyalty. Kudler has developed a marketing strategy to enhance consumer participation that hopes to drive revenue and allow for additional store expansion. However there are some areas where additional marketing research and competitive intelligence can enhance the marketing approach. Using these enhancements can help develop the organization to meet the needs of the consumer and allow for the substantial growth of the business.
Drive Internet Usage
Internet has made a break through for marketing research. While Kudler Fine Foods has an Internet site available for customers to view the gourmet products and ingredients, the website does not offer customer interaction. As a part of marketing research strategies, Kudler Fine Foods can enhance the website to inform, interact, and maintain relationships with consumers. The Internet allows for real-time access and feedback which assists in efficient marketing research. Developing the website to allow for blogs and chef posts for daily recipes can engage customers with the store. As customers begin to utilize the website, customers can contribute their feedback on product effectiveness or additional components that they are interested in that can drive marketing research. Having the primary source of marketing research through the Internet cuts cost for a company as it saves on additional human resource to survey or prompt consumers on how they feel about the company and their needs. Internet allows for customers to sign in to an account which can help...