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Kudler fine foods runs upscale and fashionable specialty food supplies in three California locations. Kathy Kudler founded this company in 1998, when she transformed her hobby into a business opportunity. The mission of the company is to provide the finest foodstuffs and best ingredients to customers who always desire and expect the quality (Kedler Fine Foods, 2005).
Essentially, marketing research is crucial for Kudler Fine Foods just as is important to all other companies. This is because the company targets to increase its customer loyalty and subsequently increase profits. To accomplish this, the company needs a marketing department that focuses on extensive marketing research. Her new marketing strategies depend on frequent shoppers program, expounding the services and efficiency increase ((Kudler, 2011). To be successful in a business, it is important for the company to research on their capability of expanding in the desired areas. Marketing research therefore informs a company on what will successfully sell and what will not sell well ((Perreault, Cannon, & McCarthy, 2009). Immense marketing research has permit Kudler Fine Foods to expand (Kedler Fine Foods, 2005).
Marketing investigators at Kudlers in addition feel that the amount of times consumers visit the store will boost when they increase the amount of time the customer spend in the store ((Perreault, Cannon, & McCarthy, 2009). As a result, Kadler foods intend to encourage customers going back to the store by holding parties for them as they emphasize on their best products (Kudler, 2011). Customers will also be widely given raffle tickets of different kinds for each extra guest they bring to the store. The marketing investigators have also made sure the quality of their products is high. This is because for consumers at Kudler’s, products price is not a problem hence they are able and willing to spend extra money as long as they are getting desired results. The customers are keen on the product quality therefore the company chooses to offer points that are loyal to its consumers.
The Need for Additional Market Research
Kudler continues to give its customers satisfaction in many areas apart from one, which is the cost of their products. There will be a great consumer satisfaction if Kudler can reduce the products cost. As Kudler Fine Foods is getting bigger, its competitors are very important and significant hence worth finding out on their progress (Perreault, Cannon, & McCarthy, 2009). Market research aids in shaping Kudler's position subsequently to the competitors present hence help them identify their market share. Kudler Fine Foods will then find it possible to identify areas where they need to improve hence increasing value to the company and to their customers. As a result, the marketing wing in Kudlers has given advice the purchasing department to generate ideas related to cost reduction along with how to cut down foods storage. Kudlers purchasing section has formed a supplier’s associations department resulting to the marketing success with this program (Kudler, 2011).
Competitive Intelligence and Analysis
Plan and mission is very important for a business to succeed. A business should therefore be managed effectively and efficiently to accomplish the mission (American Marketing Association, 2006). Competitive intelligence allows the business to know their competitors market strategies. This is achieved through researching, online sites, and conversations. Development of a process of analysis is another aspect of a business. This is important because it allows the company to identify and evaluate the similarities and differences of each other’s strategies in the market. A company also needs a profile that describes how the competitors respond and keep clear records on changes of all competitors.
In conclusion, Kudler Fine Foods has done well within its competitor’s world. There is enough information about them online and they have been able to attract consumers to purchase their company’s products. Nevertheless, Kudler should give a price list for their wine and also cheese and dairy products, which will make their good products more accessible.