Marketing Research

Abstract

Marketing research is vital to the success of any company’s marketing strategy. Marketing research provides a company with an insight into any changes that need to be made to its marketing strategy. Kudler Foods is a company founded on the idea of meeting the needs of the customer. The company has proven successful. In order for this success to continue, Kudler Foods needs to perform further marketing research into the competitive aspect of the business. Today’s business world is full of competition. Marketing research will enable the company to maintain its continued success while also staying competitive in the industry. A successful company is based on a successful marketing strategy that uses marketing research to enhance the ideas of the company. Researching the competition will provide Kudler Foods with the necessary information to implement a successful marketing strategy.

Marketing Research Kudler Foods

Kudler Fine Foods was founded on the idea of providing one-stop shopping with reasonable prices. The company is committed to providing customers with a selection of the finest foods and wines for gourmet cooking. In order to have continued success, the company needs to develop a marketing strategy and tactics based on the needs of the customer. This involves marketing research that centers on gaining information on competitive intelligence and analyzing the information to better the marketing strategy of the company.

Importance of Marketing Research

Marketing research is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization (Armstrong & Kotler, 2009). Marketing research is used in many ways. It gives a company an idea of what motivates the customer. Marketing research also provides a company with information on purchase behavior and satisfaction. It helps the company assess market potentail. A company can also measure the effectiveness of pricing, product,...