Marketing 421 Research Paper

Marketing Research Paper

MKT/421

May 22, 2012

David Boswell

Kudler Fine Foods is an upscale specialty food store with three locations in the San Diego metropolitan area. This specialty store offers the best domestic and imported bakery and pastry products, fresh produce, meat, seafood, cheese and specialty dairy products, as well as packaged foods. The merchandise for this store is carefully selected and the employees are very knowledgeable of the products to ensure customers have a wonderful shopping experience (Apollo Group, 2011).

For Kudler Fine Foods to become a successful business the owner needed to learn what potential customers wanted, possible competition, and the economic conditions surrounding the location of potential customers, which the owner intends to serve. Market research consists of assembling and analyzing data to assist a person with the comprehension of which products or services customers may want. Also market research helps a person to understand how to separate his or her business from competitors.

Market research can help business owners create an s.w.o.t analysis to outline the strengths, weaknesses, opportunities, and possible threats to the business. Doing market research can keep a person from making risky business decisions. It can also help a person create an action plan to handle current and possible problems within the market. Market research helps business owners to develop effective marketing strategies and identify a strong market base.

Kudler Fine Foods has made a risky business decision by selling domestic and imported wines and spirit because by a lot of people not knowing how incorporate the right wine with their entrees sells may not increase. Although selling wine was a risky decision the company rose to the challenge by offering potential customers wine tasting classes so that they will learn to appreciation of fine wines. By conducting wine tasting classes it puts the company above the competition by...