Mkt 421 Marketing Research

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Marketing Research University of Phoenix Group MKT 421 Instructor: 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…show more content…
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” (Armstrong & Kotler, 2005,…show more content…
Such classes would also be an exciting market for Kudler to explore. Culinary classes could be held on site. The primary attribute of the cooking classes would be the concentration on fun while creating healthy alternatives for dinner. The cooking classes would be like the prepared dinners in embracing the component of convenience for customers, yet allowing the cooking to be conducted in the home once the lesson is learned. A customer could prepare multiple dinners in the same time that it would take the customer to prepare one dinner at home, while eliminating having the clean one’s kitchen. Each of the cooking nights could comprise a different theme to reach a much larger market. Importance of Competitive Intelligence and Analysis Continually to improve Kudler’s marketing strategies and tactics, the organization must concentrate efforts on the competitive intelligence and analysis. To have success against the competition, an organization must be astute to the competitor. How can an organization attempt to be competitive within a market, if the organization is unaware of the competition? An unaware competitor is no more useful than an oven in Hell’s inferno. Or, for the faint of heart, a snow maker in a blizzard. Knowing one’s competitor is how to gain a comparative advantage in every marketplace.
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