A competitive marketing intelligence analysis is necessary because much can be learned from the competition’s successes and failures. This type of analysis is not, however, limited to the just the competition. The text, Marketing, defines competitive marketing analysis as the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment (Kerin, Hartley, & Rudelius, 2011). When collecting data and in order to make reasonable decisions, it is important to predetermine many
In order for Kudler Fine Foods to develop a functioning frequent shopper program, it must track and monitor consumers shopping behavior. The drive of market research is to collect data on consumers and prospective consumers. The collected statistics support business decision making, which therefore diminishes the risks involved in making these conclusions. This type of research would also benefit the consumer by lowering the cost on items bought most, while giving them personalized incentives to return. As a result, legal matters concerning privacy of the consumer has risen and established far more attention.
Kudler should invest a significant amount of research on identifying the strengths and weaknesses of Whole Foods Market and how they can capitalize on those weaknesses. Focusing primarily on the costs of similar products to ensure that they will be able to remain competitive are indeed truly offering quality product at affordable prices. Saving money is a primary concern for most consumers and Kudler needs to invest in research tactics in this area to address that consumer
For Promotions, the sales and marketing department need to work together, since a good promotion of a new or existing product will bring more revenues to Kudler Fine Foods. Sales department has to come up with a group of strategic objectives that will help target the financial goals of the company as well as sales. By doing a good marketing program towards the cooking class parties that the company holds, that will bring more customers that will purchase the same products use in the party and will look around to other options that the store gives them. Now with Place Kathy already tested the waters by opening two other stores in 2000 and in 2003, and even though is a good idea for her to keep expanding, is also important and healthy for the company that she improve the actual stores like is mentioned, that way the company is better known and eventually the same customers in other regions will request the opening of a new store in their area that they will
Like other businesses our goal is to expand as well as build more customer awareness to increase its profits. Kudler wants to build a customer base that will be loyal to their stores. To do this it is important for Kudler to conduct the necessary research needed first to implement this change in the operations department. Especially, because we aim at a specific market with
Marketing research will uncover for Kudler not only the products desired but [For parallel construction, "not only" must be followed by "but also" later in the sentence] the price consumers are willing to pay for each item. A product may be desired [Passive voice ] but if consumers aren’t [Write out contractions] willing to pay a price high enough to provide Kudler a profit it must be taken [Passive voice ] off the shelves. However, Kudler may find through market research that offering consumers the ability to order specialty items may increase
Choose a topic: Technology; Sports Equipment; Clothing; Food Questions to research: Are advertisements aimed at teenagers effective? And, are they ethical? MY RESPONSE: : Yes, I think ads are effective towards teens because you see teens making choice or buying things based off of what they saw clothes from the ad. Especially, when a celebrity is advertising the product that they want to purchase it makes them want that item even more. Ads in today’s society are not that ethical.
In addition to the marketing surveys the company performs, they could also employ secret shoppers, build a stronger online presence, monitor forums and scope out their competitors (Armstrong, 2011). Better understanding of their customer needs and what the competition offers of which Kudler may not is likely to increase Kudler’s understanding of marketing and customer loyalty. Competitors in the local area of Kudler Fine Foods should not be the only competitors considered in the company’s search for a better marketing strategy. Viewing online and worldwide competitors as a threat should be researched to see what each company brings to the market. Kudler would do well in forming a marketing research team and employing a marketing information system to help improve their company’s
If the client’s needs would have been foremost the current customer base may have been polled to determine to the reaction to a NEW coke? Taste tests would be part of the polling. As the goal of marketing is to increase sales/profits, it would be important to poll consumers who currently favor the competitor’s products. What could Coca-Cola do to gain them as a customer? What are their wants, needs, expectations in a cola?
P5 What is positioning? Positioning is very important that the business develop a specific marketing mix so that they can influence the potentials of the customers. This is something that will help the business to design they own brands in their own imagination so that it will meet the customer’s needs. It is very important that the business understand the customers point a view about their products so that they can improve on the products. For example this is including things like such as if the customers is going to choose to buy their clothes from a business like Debenhams as they might be trying to show that they are very happy on the product that they are selling.