University of Phoenix
Kudler Fine Foods
Kudler Fine Foods is an upscale gourmet grocery retailer specializing in gourmet ingredients and appropriate, corresponding high-quality wines. The main idea behind opening such a store is to create a one-stop shop for quality ingredients at reasonable prices. Kudler Fine Foods currently has three locations, and wishes to expand into areas where the market has the greatest demand in the region. The mission statement of Kudler Fine foods is, “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” (“Intranet,” 2008). To continue to experience success and expand when and where appropriate, Kudler must conduct research, marketing strategies, marketing tactics, and participate in competitive intelligence and analysis.
Importance of Marketing Research
Marketing research is vital to the continued development of any organization. Marketing research is defined as, “the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization” (Armstrong & Kotler, 2005, pp.113). Marketing research for Kudler may make all the difference for an organization being able to remain innovative, competitive, and dominating in the ever-changing marketplace today. Marketing research can be incredibly helpful for Kudler to determine the satisfaction of customers in a non-bias fashion. Managers rely heavily on responses from marketing research to make imperative decisions. The process of marketing research includes four fundamental steps: “defining the problem and research objectives, developing the research plan, implementing the research plan, and interpreting and reporting the findings”...