Topic > Kudler Fine Foods And Market Research - 1106

Kudler Fine Foods and Market ResearchIntroductionThe definition of marketing as stated by the American Marketing Association is that: “Marketing is an organizational function and set of processes for creating, communicating, and providing value to customers and to manage customer relationships in ways that benefit the organization and its stakeholders”. (marketingpower.com, 2008) Marketing is not a choice but it is still an essential part of any business. Kudler Fine Foods is a local upscale specialty food store located in the San Diego metro area. The company has three locations (La Jolla, Del Mar and Encinitas). Each store has a large amount of retail space located in an elegant shopping center. The stores are stocked with the best domestic and imported products (phoenix.edu, 2008). Kudler Fine Foods has decided to explore new options to offer its customers. This article will first justify the importance of market research in developing Kudler Fine Food's marketing strategy and tactics. The document will then explain how to identify areas where further market research is needed. Market Research Market research is very similar to the nine-step problem-solving model. Market research in most cases will always lead to some kind of change. Market research helps study the marketing changes that an organization needs to make. According to Perreault and McCarthy (2005) marketing research is defined as “procedures for developing and analyzing new information to help marketing managers make decisions”. Market research is the process of systematically collecting, recording and analyzing data and information about customers, rivals and the market. Its uses include creating long-term business plans, launching new products or services, fine-tuning existing products and services, and expanding into new markets. Market research can be used to determine what portion of the population will purchase a product/service, based on variables such as age, gender, geographic location, and income level (wikipedia.com, 2008). Based on these definitions, understanding a market research plan is essential for Kudler Fine Foods to promote any type of special promotion it may organize and to let its audience know about the authenticity and value of the quality of its merchandise and products. products. Some of the marketing campaigns Kudler Fine Foods have already run will be described below. One of the most popular marketing operations was aimed at expanding services and increasing revenue. Kudler decided to start hosting house parties to teach customers how to prepare specific international foods.