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Kudler Fine Foods Marketing Research Paper

Essay by   •  June 26, 2012  •  Research Paper  •  1,412 Words (6 Pages)  •  1,549 Views

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Introduction

Kudler Fine Foods is local upscale specialty food store located in La Jolla, Del Mar and Encinitas and was founded June 18, 1998 by Kathy Kudler. Kudler Fine Foods stores offer their customers imported and domestic goods and from a selection of bakery, packaged foods, meats, produce, and specialty dairy products. The company's mission statement states "mission is to provide their customers with the finest selected foodstuff, wines, and related needs in an unparalleled consumer environment" (Kudler, 2010).Over recent years Kudler Fine Foods has considerable growth and has become concentrated on increasing their services. Kudler wants to improved the effectiveness of their businesses, and to increase the customers purchasing cycle by expanding and opening a new store. Kudler must be familiar with the type of marketing strategies and tactics required to support the company's profitable opening of this new store. Kudler need to research the requirement for expanding and opening a new store, how to increase profits, and potentials new competitions (Kotler, P., Keller).

Expansion and Market Research

Marketing research is essentials for Kudler to expand and grow. Kudler will need to formulate a business plan with marketing strategy for their new product or service. Marketing research can be analyze and can be explain as the process of assembling, gathering and keeping information on customers, competitors, and the current market. Once enough data is collected and recorded it must be examined for the validity to develop a proper and lucrative marketing plan. The data gathered is significant for the reason that it will help come to a decision what segment of the potential customers will purchase the goods that Kudler had in mind for its growth development. The information also established the company's generally target markets characteristics such as their age, location, gender, and income range. Upon completion of the marketing research plan will help reduce the risks involved as well produce revenues.

As Kudler Fine Foods maintains to increase with the new store it is important for the company to continue and conduct follow up marketing research of their goods during the lifecycle of the stores. This continuation will assist Kudler with healthy communication with their customers, reduction of risk; identify opportunities also to create a model to measure growth of their service. When a Kudler conducts their market research, Kudler needs to maintain communicating with their current customers. This will assists Kudler in acquiring important data from current customers that are a sign of how the customer's needs are satisfy. Maintaining communications will assists the Kudler image that of a caring organization. These steps are essential to the Kudler and their customer because it supplies essential responses on whether Kudler is performing with their best possible service (Kotler, P., Keller).

Profits and Market Research

Kudler's business goal is to maximize profitability by providing and supplying the premier quality good at competitive prices. Kudler needs to advance by adding the on-line ordering and purchasing system. This will help Kudler generate more profits by growing their customer base outside their local areas. The key important advantages for Kudler is on-line ordering system will confidently give current Kudler customers place their order, and have it ready for them upon arrival and convenience of a local delivery service. This will help with customers with time management. This will also increase the range of customers with faraway places and broaden their area to provide for customers not in their local.

The growth and profitability of electronic commerce will be drastically reduced if consumer protection is not adequately provided. Kudler's consumers are satisfied that traditional safeguards which protect their rights in the off-line world will be translated to modern day accessible recourses (Business Week). Kudler can offer smart cards to its customers, the smart card is a new way to offer customers safety and one hundred percent safety. The Smart Card Alliances can offer Kudler free help, education, events, industry and technology councils. They advocate the use of smart card technology to protect privacy and enhance data security and integrity. The application also take advantage of the technology's ability to provide secure, portable storage of data; enable authenticated access to information (either on the card or within the application system); and support secure transactions between the card and the network.(Smart Card Alliances.) Kudler will need to provide online shopping with security and with ease to consumers. In these area flexible principles backed by secure and effective enforcement is the only way of propelling e-commerce to provide ethical practices and safeguarding vital rights of their consumers.

A great example that Kudler Fine Foods can follow is Amazon with the large range of customers base

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