The_Kudler_Fine_Food's_Research

THE KUDLER FINE FOOD'S RESEARCH AND COMPETITVE INTELLIGENCE Ernesto Alcalá University of Phoenix Marketing 421 MKT/421 Dan Capps December 04, 2011 THE KUDLER FINE FOOD'S RESEARCH AND COMPETITVE INTELLIGENCE The Kudler Fine Foods or K.F.F.’s marketing research and its competitive intelligence or C.I. serve as fundamental instruments of the business’ marketing plans. K.F.F designed its marketing strategy to satisfy the company’s market needs and reach its objectives. K.F.F. bases its plans and objectives on measurable results making them as multi-years plan. Nevertheless; as well as the speed of change in the environment increase, the availability of time decrease for the company. Market research determines the requirements and opportunities for consumers, users, or purchasers in different marketplaces. As a critical component of business management, market research guides the business’ develops and how to market its products. To accomplish success, any marketing department needs two types of market research: primary research and secondary research. While the primary research uses first-hand investigation to decipher particular problems, determine consumer’s needs, or interpret unique opportunities; the secondary research reviews and employs pre-existing data and information to recognize specific challenges (NCTI, National Center for Technology Innovation, 2007). Competitive intelligence or C.I. emerged as a distinctive field of endeavor recently. Only one association, the Society of Competitive Intelligence Professionals or S.C.I.P. exists to serve this field directly. Nonetheless; other organizations, such as the Information Industry Association, the Planning Forum, the American Marketing Association, and the Special Library Association operate with relative interests and over-lapping information needs. The C.I. department projects that the unattractive information or data have limited value as a product to the buyer. All the data and information; as a part of a well organized document, need to be integrated, analyzed, read, and interpreted properly. Data tools like graphs, tables, and charts play an essential role in any C.I. department as a part of communication supports. Additionally, ignoring any founding information during the hunting and gathering process can lead to misunderstand the target market (Combs, 2003). Bibliography * Combs, R. (2003, September 02nd). The Competitive Intelligence Handbook. Retrieved December 04th, 2011, from www.combsinc.com: http://www.combsinc.com/chapt1.htm * NCTI, National Center for Technology Innovation. (2007). Market Research. Washington DC: American Institute for Research.