Kudler_Fine_Foods

Kudler Fine Foods MKT/421 Marketing October 28, 2013 University of Phoenix Kudler Fine Foods Marketing Research Kudler Fine Foods (KFF) offers specialty products to people with discriminating tastes. They commit to providing customers with the very best domestic and imported foods by offering the finest selection of fresh bakery items, pastries, produce, meats, seafood, condiments, packaged foods, cheeses, and specialty dairy products. Currently, there is three store fronts in the San Diego metropolitan area. They are looking to continue to grow the business by opening another in Carlsbad, California. They will need to perform a marketing research to be sure they have the appropriate information to make it an effective business decision. There are areas where KFF needs additional market research. They also will need a competitive intelligence and analysis regarding the development of KFF marketing strategy and tactics. Marketing research is important because it is analyzing itself from the customer’s viewpoint. “This enables a company to formulate a viable marketing plan or measure the success of its existing plan” (Khera, 2007, p. 1). Marketing research will help aid KFF in making the best decision possible for their business. The four P’s of product, place, price, and promotion will need to be analyzed. Products need to meet the needs of the potential and current customers. KFF is considering a fourth store by Sushi Taisho, a Japanese restaurant in Carlsbad, California. More data needs to provide information on when the restaurants’ peaks sales are, what type of customer do they have' What connection is KFF hoping to achieve with opening near the restaurant' Will KFF play off the restaurant and specialize in a sushi product line or picnic food and supplies because they are close the beach. How will the logistics work' Currently, they can purchase in bulk and distribute the products accordingly. The new location will be more than 100 miles away making difficult to exchange products with other stores. The price of the products need to be set so that customers will purchase the products, beat out the competition, and KFF is making a profit. KFF needs to consider what types of promotions will need to establish new customers and announcing a new KFF. It will also help find opportunities and risks before they become obvious. It is a way to analyze information and use it to help the business make money. Competitive intelligence and analysis is important to KFF because it will provide valuable information regarding to what is happening with their competition so they can be competitive as soon as possible. It is an ethical manner of gathering publicly held information and analyzing information about competitors. It provides the organizations structure, culture, behavior, strengths, and weakness, which KFF can use in the tactical and strategic planning (Combs, 1992). “Common goals of competitive intelligence is detecting competitive threats, eliminating or lessening surprises, enhancing competitive advantage by lessoning reaction time, and finding new opportunities” (Combs, 1992, p. 1). The competitive intelligence and analysis will help KFF try to be one step ahead of its competition. Kudler Fine Foods (KFF) has been in business since 1988. Kathy, the store owner, is hands on since the beginning. She is ready to expand for the fourth time to offer target customers gourmet foods for people with discriminating tastes. They will need to use the results of a market research to help aid them in their decisions. They need to be sure they have the appropriate information to make it an effective business adventure. Additional market research can be provide information that can put them ahead of their competition. They also need to perform a competitive intelligence analysis so that they can stay informed on what their competitors are doing and so that KFF can be one step ahead. Reference (2012, 06). Kudler Fine Foods Virtual Organization. StudyMode.com. Retrieved 06, 2012, from http://www.studymode.com/essays/Kudler-Fine-Foods-Virtual-Organization-1034265.html Combs, R. (1992). An overview of competitive intelligence. New York, NY: Scarecrow Press. Retrieved from http://www.combsinc.com/chapt1.htm Khera Communications, Inc. (2007, March 27). Why is market research useful' The Importance of Market Research. MoreBusiness.com. Retrieved from http://www.morebusiness.com/running_your_business/management/Market-Research.brc Perreault, Jr. Ph.D., W. D., Cannon, Ph.D., J. P., & McCarthy, Ph.D., E. J. (2011). Basic marketing: A marketing strategy planning approach. (18th ed.). New York, NY: The McGraw-Hill Companies, Inc.