Marketing Research

Marketing Research

Saudia Hampton

University of Phoenix

MKT/421

Kenneth Le Cour

October 20, 2011

Marketing Research

Marketing research is the studying of approaches for selling and supporting a product or service, which may include collecting data that will support marketing campaigns (Prior, 2010). Without marketing research, a business will fail in the American economy. Expansion and growth will merely be dreams and never come to fruition. The only way a business will survive is if it provides a product or service consumers want or need in addition to finding a way to let consumers know the product or service is available. Kudler Fine Foods is a chic specialty food store with three locations in the San Diego metropolitan areas of La Jolla, Del Mar, and Encinitas (Apollo Group, 2010). In this paper, the writer will discuss the following: the significance of marketing research in the improvement of Kudler Fine Foods’ marketing strategy and tactics, detect the areas that need further market research, and analyze the importance of competitive intelligence and analysis as it relates to the progress of Kudler Fine Foods’ marketing strategy and tactics.

Marketing research is important in the development of Kudler Fine Foods’ marketing strategy and tactics for several specific reasons. The store is an upscale specialty food market, selling only the finest foods in the world. This means the company needs to reach individuals focusing on quality, rather than price, and finding specialized items because this type of store does not carry items for the same prices as a Winn-Dixie will. Because this is such a selective market, one of the company’s primary strategies focuses on increasing customer loyalty. A current strategy to increase revenues is the Frequent Shopper Program, which provides customers with an opportunity to earn points for shopping and gives the company information on consumer buying habits (Apollo Group, 2010). This strategy is effective...