Kudler’s mission is basically to provide the customers with the finest foods, wine, spirits and the best shopping experience all while buyimg the finest epicurean delights.Throughout this paper the importance of marketing research in the development of Kudler Fine Foods marketing strategy and tactics will be justified through discussion. Also, the areas where more market research is needed will be identified. The importance of competitive intelligence and an analysis in regarrds to the development of Kudler Fine Foods marketing strategy and tactics will be analyzed as well. Kudler offers the finest whole foods and use the freshest ingredients.
The company feels that using fresh ingredients is the best way to cook.Through marketing research in the development of Kudler Fine Foods marketing strategy and tactics involve looking all over the world for the absolute best foods, wines, and spirits. Kudler promotes themselves as being the best place to shop when a customer wants simple or mixed martini or even just a bottle of wine. They even hav a wine steward to assist their customers in choosing their selection of wine. Kudler in addition also provides classes for individual’s that want to learn to appreciate wine.Marketing research is important when it comes to marketing strategy and tactics because Kudler has to know areas they may want to grow and expand in.
This produces data to know if they want to open a new store or not. Marketing research process analyzes and develops new data and information about a certain market for Kudler. Kudler’s research team can use surveys, questionairres and even group tests to get the feedback they need. This will help to ensure how successful they will be and give them a market plan when it comes to what type of products and services they will offer at each new location.Researching customers in all the projected new locations will give them an idea of what they will have in each store according to the areas shoppers like and dislike and how willing they are to try something new.
Though Kudler researched and found the most helpful, experienced and knowledgeable workers that will provide all their customers with the very best shopping experience, they still need to market research to compete with other upscale specialty foor stores. They have to market themselves even more now because there is a demand for their stores.A company can not just have a couple stores with demands from customers of more of what they supply. They have to expand the company.
Mor market research has to be performed to know where new Kudler stores can be placed. The four locations they have now are not enough. The company needs to branch out and show the world what they are missing. The finest foods, wines, and spirits are all products Kudler have to offer to the world. They need to research upscale areas all over the world and set up trial locations to do group tests.
This will give them feedback if they like their products and services they offer like the classes and wine steward assistance. They will be able to pinpoint the areas they want to set up test stores and see if they generate a lot of business and if they do they can continue to stay open and open upmore stores. The world is like one big giant market place and competition plays a big role in it increasing exponentially in business. If Kudler stores want to keep up with the fast pace in such a competitive world they have to know what other companies are doing.
Competitive intelligence is the process via analyzing, collecting, and transforming data into intelligence to assist in the future of Kudler. Annual reports from competition should be gathered and collected as well as other information that can hlp Kudler in recognizing the trends, events, and roblems that could possibly affect the company. Clear questions should be asked when implementing competitive intelligence. An example would be how would a new competitor with new prodcuts or services affect their business?Kudler has to consitently manage important matters if they plan to compete. If Kudler does not use competitive intelligence they may put the company in a survival mode because they are not making changes or marketing like their competitors are. This will lead Kudler Fine Foods stores in reactive mode for survival.
In conclusion the development of Kudler Fine Foods marketing stratgey and tactics are good so far. They have managed to stay up and running and expand their products and services since they opend in 1998.As long as Kudler continues to research the market they will know if their strategy and tactics are working and if they need to change them or not. Using competitive intelligence will the give them the edge and knowledge of the opportunities and dangers they may face when in competition.
In addition Kudler has to identify the areas they may need to improve or expand in and make plans to make changes as needed. By performing all those marketing startegies and tactics they will surely continue to be a successful and thriving company.
