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Marketing Research For Kudler Fine Foods

1110 words - 5 pages

Marketing Research for Kudler Fine Foods

Joyce Liupaogo
MKT/421 - Marketing
April 9, 2012
Gregory Rankin
Marketing Research for Kudler Fine Foods
Marketing research is a type of business study that gathers records and analyzes data about consumers, competitors and the market. Marketing research can help create a business plan, launch a new product or service, expand into new markets, or fine tune existing products and services. Businesses use market research to configure which parts of the population will purchase their products based on variables such as age, gender, location and income level. “Marketing research finds the characteristics of target markets and plays an ...view middle of the document...

Although the efforts have been made to promote the business, improvement on further promotions and advertising is still in need. “The Kudler stores are no different from any other store in that business success is geared to being able to provide total customer satisfaction (Apollo Group Inc., 2011).” Market research often focuses on identifying and defining market opportunities or changes in the environment. Proper advertisement will help in many marketing areas concerning Kudler Fine Foods. Proper advertising is promoting the uniqueness of Kudler Fine Foods and what separates Kudler Fine Foods from its competition. Kudler Fine Foods can use the objective for advertising to increase sales and to create awareness and interest. Advertising properly will help in both expanding services and increasing efficiency.
In Kudler's overall marketing budget, there is money allocated for marketing communications, such as radio, newspaper and television advertising, as well as public relations, events, and sponsorships. What Kudler needs to do is determine which areas in each of these fields would be most effective to promote their store. For example, during which television programs would people be most interested in watching a gourmet food store commercial? Television networks such as a dedicated food network, women's television channels and home and garden would be ideal during peak times and popular shows. Another great example would be which events Kudler be most effective in participating in, such as restaurant trade shows on a local and national level.
Increased Revenue
“Kudler Fine Foods 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 (Apollo Group Inc., 2011).” Kudler Fine Foods plan to increase their revenue in two ways by expanding their services and offer a frequent shopper program. “Kudler is offering parties in the store to show customers how to prepare specialty foods. The anticipated outcomes will be to increase the customer purchase rate of high margin food and beverage items and to get consumer to make an evening at Kudler Fine Foods part of their social network (Apollo Group Inc., 2011).” Expanding services will increase customer satisfaction and bring in more revenue. The frequent shopper program will offer incentives based on point accumulated by the customer. Kudler Fine Foods conducted surveys in 2010 and 2011 which gave a good example of how having customer feedback can improve...

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