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Marketing Research Essay

1080 words - 5 pages

Market Research
Marketing research is an important part of every companies marketing strategies and tactics. It is used to help identify what products will sell in a specific market or location and will help companies focus on making a profit instead of wasting time and money on products that are not in demand. Kudler has very specific goals in their marketing plan. They are to increase loyalty and profitability of consumers by expanding services, implementing a frequent shopper program, and to increase efficiency in order to reduce costs (Sales and Marketing: Marketing Overview, 2013). In this paper we will take a look the importance of research for Kudler Fine Foods, look for places where ...view middle of the document...

This is also the time to look at secondary research, or research that has already been conducted by others. This will help to save time and money by showing researchers a direction to focus the next step of their research on. The next step is to gather data that is specific to the problem that was defined. One way to do this is through qualitative research which gathers thoughts and feelings on the subject from the chosen sample being surveyed. Qualitative research will provide ideas and help researchers form a hypothesis. Quantitative research gathers responses to research questions and summarizes them with numbers such as a percentage, average, or a statistic (Perreault, Cannon, & McCarthy, 2011). The next step is to interpret the data gathered from the sample of participants representing the target market. It is within this step that researchers will be able to find answers to the problems and question posed in earlier steps. The final step is to solve the problem by applying the findings to the planning strategies already in place (Perreault, Cannon, & McCarthy, 2011).
Recommendations Based on Past Surveys
Kudler Fine Foods is very focused on their customers and the needs, wants, and desires of those customers. Their goal is to provide an enjoyable shopping trip for the customer by providing a selection of the finest domestic and imported foods and staffing knowledgeable and courteous staff to guide them in their product selections. In a review of surveys conducted of customers that shop Kudler Fine Foods, it was found that most found the selection of products to be good, were satisfied with the products offered, and felt that the staff was knowledgeable, however, they did feel that the staff could be a little more courteous (Administration Survey Results, 2013). These results tell Kathy Kudler that there needs to be more focus on teaching employees how to treat and talk to customers, sharing their knowledge and expertise in the nicest way possible. One other negative result from the surveys was that the merchandise sold is not the best value for the money they are spending (Administration Survey Results, 2013). This tells Kudler Fine Foods that they need to look at their pricing strategies and see where they can cut costs, therefore lowering the price of their products.
Competitive Intelligence
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