In this case, the new service would be catering. The two pieces of market research that KFF already has is two customers surveys performed in and These surveys are a way for KFF to collect data as part of its market research. Relative Value of Market Research Prior to introducing a new product to a market, it is a good idea to perform market research.
Market research is the gathering and analyzing of data and information to define the problems and opportunities associated with introduction of the new product Kerin et al.
The surveys only offer a small piece of what KFF needs to improve or maintain to satisfy customers. KFF will need to focus on these four factors for their marketing strategy. Both controllable and uncontrollable factors make up the marketing mix.
This type of data collection is using a questionnaire with fixed alternative questions that give respondents a chance to rate areas on a semantic differential scale, or a scale that use short descriptive adjectives, instead of numbers for rating Kerin et al,ch 8.
KFF already has customer surveys to help determine opportunities, but they also plan to implement a system where they can track customer purchases, and to perform studies on market size and opportunities, food marketing trends, and services benchmarking Apollo Group, Inc.
Product KFF will need to determine the particular catering services to provide to its customers. For KFF, these factors may include other specialty food catering services in the area, economic stresses in the area reducing the desire for catering services, and regulations for food handling.
Kudler Fine Foods Marketing: Uncontrollable, or environmental, factors can be placed into five groups: Product is the service or good desired by a target group of consumers, price is the cost of the product to a customer, place is how the product is transferred to the customer, promotion is how the customer and the seller communicate about the product.
The results of these surveys can be used to determine how a customer will react to the introduction of new services.
The product itself will be able to satisfy the customer while using products that KFF already offers. Kudler Fine Foods KFF must utilize all aspects to be successful in determining who to offer these services to and what services to offer.
By utilizing market research, the marketing team can determine the target group for its services, then what that target group needs or desires Kerin et al.
KFF has already budgeted for studies that will help the marketing team better understand how the market will react to the addition of a catering service Kerin et al. Benchmarking other business that provide catering services, analyzing trends in the food market, and determine the market size and opportunities, combined with the surveys KFF has already taken, will give the marketing team a better idea of what particular items to serve, what KFF should expect to charge for these services, how best to promote the new catering service, and how to get those services to the customer.Marketing Research for Kudler Fine Foods Joyce Liupaogo MKT/ - Marketing April 9, Gregory Rankin Marketing Research for Kudler Fine Foods Marketing research is a type of business study that gathers records and analyzes data about consumers, competitors and the market.
Operations Management at Kudler Fine Foods Essay - Kudler Fine Foods is a store unlike any in the grocery industry. Kudler Fine Foods represents a store that. Kudler Fine Foods Offer Essay.
Kudler Fine Foods Product Offer Your name MKT/ October 2, Teacher Kudler Fine Foods Product Offer The mission of Kudler Fine Foods is to serve the customers with different type of premium food, wine, and in a consumer friendly environment (University of.
Kudler Fine Foods Marketing Essay Kudler Fine Foods Kudler Fine Foods was founded by Kathy Kudler. The company has three Gourmet Stores, which are located in California. The business objective is to provide its customers with high quality products at a competitive price and to be profitable and successful in the business.
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Kudler Fine Foods Frequent Shopper Program Project Plan, To encourage customer constancy and respond to customer shopping preferences, the Sales and Marketing department of Kudler Fine Foods is building a Frequent Shopper Program to track customer purchase patterns and provide shopper motivation through a loyalty points program.Download