Mba 502 -- Marketing Assignment Essay

2064 WordsNov 25, 20099 Pages
RUNNING HEADER: MARKETING ASSIGNMENT Marketing Assignment University of Phoenix MBA 502 Table of Contents Introduction 3 Market Research 5 Figure 1 Kudler market survey results ’06 vs. ‘07 6 Marketing Mix 7 Figure 2 Kudler Marketing Mix 7 Product Offering 8 Pricing 9 Place Defined 10 Promotion(s) 11 Target Market 12 Figure 3 Kudler catering demographic groups 12 Results 13 Conclusion 14 References 15 Introduction According to bnet.com, diversification is “a strategy to increase the variety of business, services, or product types within an organization. Diversification can be a growth strategy, taking advantage of market opportunities, or it may be aimed at reducing risk by spreading interests over different areas. It can be achieved through acquisition or through internal research and development, and it can involve managing two, a few, or many different areas of interest” (BNET.com, 2008). Kudler Fine Foods (Kudler) is interested in expanding its service offering to add a catering service in addition to the in-store parties that it currently offers. Within the limits of this paper, examples are provided of the kinds of opportunities Kudler has within its marketing mix (product, price, place and promotion) for its new catering service. This paper will specifically do the following: a) Assess the relative value of the two pieces of market research. b) Explain the components of the marketing mix for Kudler’s new catering service. c) Explain how Kudler should determine the products it wants to offer. d) Explain how Kudler should determine what its pricing should be relative to other catering companies. e) In terms of catering service, explain what the term place means. f) Explain how Kudler might go about promoting the catering service g)

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