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Kudler Fine Foods was created in an effort to provide high quality products to customers in the southern part of California. It offers clients a wide selection of specialty food products, including everything from baked goods to fresh produce and refined wines.
"Kudler Fine Foods is committed to providing our customers with the finest selection of the very best foods and wines so that your culinary visions can come true" (Website of Kudler Fine Foods, 2011).
In the development of its marketing strategies and tactics, Kudler Fine Foods places great emphasis on the role of the marketing research, as well as the analysis of the competition. This project sets out to assess just why and how important these features are in the creation of the marketing efforts.
a) Marketing research
Marketing research is mostly focused on the analysis of the customers' needs and wants, in an effort to ensure that the firm would be able to serve these needs and wants. The importance of market research is given by the growing importance of customers in the profit generation of economic agents, including that of Kudler Fine Foods.
Traditionally, the customer was the person purchasing whatever items the firms would produce, regardless of quality and price, as they needed the respective items. Today however, as a result of macroeconomic changes, among which globalization is the most notable one, there are more and more companies providing similar products and services. This virtually means that customers are presented with a wider selection of items from which to choose those products and services that best serve their needs. In other words, the customers are now the ones to tell the firms what to produce and sell, and they are the ones which impact sales and company profitability. Ergo, the analysis of the customers within...
The fine foods retailer has to identify its customers and their particular needs. In case it does not manage to identify its target market and its needs, it even risks failure within the market. For instance, if Kudler Fine Foods were to create marketing strategies and tactics unsuitable for its customers, then it would not manage to attract them; it would not register sales and it would not as such be financially sustainable.
For example, Kulder Fine Foods would be expected to target people of both genders, of ages above 30 and who register above medium incomes -- or live in households that register incomes above the national average. The targeted individuals would reveal exquisite tastes in food and would not normally consume fast food products; they would be educated, sophisticated and demanding customers.
The initial understanding of the customers helps the marketing specialists at Kudler Fine Foods to develop the marketing strategies and tactics which best speak to the selected customers. The targeted individuals would for instance watch a specific television channel, so advertisements for Kudler would be aired during those shows; these customers would go to specific restaurants and would have specific leisure activities. Market research allows for the identification of the best means to communicate with the customers, and as such the ultimate development and implementation of the proper marketing strategies and tactics, which lead to overall company results.
b) Areas for additional market research
The Kudler Fine Foods current market research is limited to the means in which the customers perceive the company…
References:
Kovach, V.V., 2010, Fast facts for Kudler Fine Foods, eHow, http://www.ehow.com/facts_7420251_fast-kudler-fine-foods.html last accessed on September 8, 2011
2011, Website of Kudler Fine Foods, http://kudlerfinefoods.info / last accessed on September 8, 2011
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