Mkt/421 Week Three Ind

Marketing research paper

In week threes paper it will discuss and identify the areas where additional market research is needed. I will also analyze the importance of competitive intelligence and analysis regarding the development of Kudler Fine Foods’ marketing strategy and tactics. Kudler Fine Foods, a gourmet grocery store, needs to expand its services, improve operations efficiency and increase its consumer purchase cycle due to its recent significant growth. Marketing research in mounting Kudler’s advertising policy and devices is important. Regions somewhere marketing explore is desired and other issues affecting such research at Kudler’s include advertising methods, consumer buying behaviors and demographics, funding, branding strategies and competition aspects. Knowing Kudler’s competition and the competitive environment is essential to their marketing strategy and methods of how Kudler should gather and analyze information about their competition will be reviewed.

The importance of marketing research

Marketing study is significant for Kudler Fine Foods to contain a winning advertising plan plus for the company to remain strategically successful in the grocery store market. Research helps determine what demographical audience is appropriate for its products. Finding the right target market is essential in developing a company’s strategic and marketing plans, especially for a gourmet grocery store like Kudler’s. Research will be the backbone that makes those plans grow.

Market research will also let Kudler know who its direct competitors are and what advantages the company may have over them. Whole Foods, Trader Joes, small organic food stores and even the local farmer’s market could all be considered Kudler’s competition. Discovering the competitor’s customers could help Kudler target this audience as well, by promoting itself as a better alternative. Competitive intelligence will enable Kudler to define its target market.

Important marketing...