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Marketing Research Paper for Kudler Fine Foods Charmaine DuBray University of Phoenix Marketing MKT/421 Larry Rine May 03, 2010 Marketing Research Paper for Kudler Fine Foods Kathy Kudler used gourmet cooking as a way to relieve stress.
But when she found shopping for the ingredients she needed entailed traveling to different locations, Kathy decided to open her own specialty food store that offered the convenience of purchasing the products needed for this type of cooking in one place and providing them at a reasonable price.
In this paper we will discuss the importance of marketing research in the development of Kudler Fine Food’s marketing plan and tactics. In this paper we will also identify areas in which there is a need for additional research and analyze the importance of competitive information and analysis in regard to the development of Kudler Fine Food’s marketing plan and tactics. According to Kudler Fine Food’s Vision Statement, (Strategic Plan, 2003 “p. ”1) “Kudler Fine Foods will be the premiere gourmet grocery store for those savvy shoppers who are searching for the finest meats, produce, cheeses, and wines. Kudler Fine Foods strives to provide its customers with the freshest baked goods, produce, meats, seafood, cheeses, specialty dairy products, and wines. Kathy Kudlers goal is to be the specialty food store gourmet cooks look to when shopping for the ingredients for their culinary creations. The opening of her first store in 1998 proved to be an immediate success. Kathy has opened two other locations since. A prominent goal of marketing research is the identification and definition of marketing problems and opportunities. This goal also includes the improvement and development of marketing actions.
Kudler Fine Foods performed a SWOT Analysis to identify its strengths, weaknesses, opportunities, and threats. Strengths listed are: 1) because it is a small organization, KFF can control and watch over all of the stores operations continually, 2) KFF has no direct competition because there are not any gourmet stores in the area, 3) KFF offers its customers a wide variety of produce, fruits, wines, and cheeses. None of the grocery stores in the area can offer such a wide variety of products, 4) KFF is very customer oriented and employs a very friendly staff.
Employees help the customer in any way possible and very courteous, to help customers as much as possible, 5) KFF locations are strategically placed in higher classed areas in which people can afford to pay the higher prices that come with gourmet foods, 6) The owner Kathy, can work with and provide good advice to each member of the staff throughout the week, 7) KFF has built a good reputation among the people of the area and they are repeat customers (p. 8 ). Among the weaknesses seen from the SWOT analysis, perishable goods ranks the highest of the weaknesses.
Because the store deals mostly in perishable goods, constant watching of the produce levels and customers buying habits will be required to keep inventory levels at a minimum and avoid waste. Another weakness of KFF is that it is a specialty shop with a high wage expense. Because it is a small company, the management team has too many responsibilities and needs to come up with a plan to delegate some of the responsibilities of management to others. Problems concerning the Del Mar location and the limitations of geographic expansion must be addressed in order for the company to proceed (p. ). Many opportunities are seen through the SWOT analysis. The opportunity to expand into other regions of California and outside of California as the company grows in size will require farther research in determining demographics and psychographics of the population. The delegation of the responsibility for purchasing inventory to someone with experience and available to spend more time on this process is necessary to alleviate some of the stress management goes through. Offering more catering services is seen as an opportunity for the company to grow also.
As the company grows, an opportunity to be acquired may also present itself (p. 10). Threats that can be seen from the SWOT analysis are the competing gourmet shops and the state of the economy. Because Kudler Fine Foods products cost more than regular products, management worries that with the declining economy, customers will not want to pay the higher prices. KFF does not see the traditional supermarkets in the area as threats but does see some emerging international food stores as direct competition.
KFF also does not see health food stores as direct competition as their regular customers are not health conscience but are looking for the best in food and service and are willing to pay the higher prices for this product or service. It is very important for KFF to realize in which and what their competition is offering so that they can see what actions are necessary to attract and retain their customer base and not lose customers to other suppliers of fine foods. Researching this can provide KFF with the competitive intelligence it needs to stay ahead of the competition.
By keeping ahead of the competition with product differentiation, KFF will continue to grow and expand (p. 13 ). Conclusion The need for further research is apparent from the SWOT analysis. In order for Kudler Fine Foods to continue growing and expanding, marketing research can define problems and see opportunities presented as an avenue to reach its goals. The importance of competitive intelligence is widespread and can be instrumental in keeping Kudler Fine Foods one of the premiere gourmet food stores.
Further research can help management to lessen its responsibilities and take some of the pressure off the owner. As the company continues to grow, Kathy Kudler will not be able to control every location by herself and needs to implement a plan to delegate some of her responsibilities for purchasing inventory to someone who is experienced in this type of inventory and who has the time needed for this process. The marketing strategy and tactics used by Kathy Kudler can be enhanced to get her products out to the people in larger capacity. Her marketing plan needs to include better advertising.
If Kudler Fine Foods can get their message out to more people looking for fine gourmet foods, it will become the premiere gourmet food store Kathy Kudler dreamed it would be back in 1998 when she opened her first store. By marketing her fine foods and superior customer service to further areas than she has now, Kathy Kudler can make her dream a reality. References Kudler, K. (2003). Strategic Plan 2003. Retrieved May 3, 2010, from University of Phoenix Student Webpage/Virtual Organizations. http://www. ecampus/phoenix. edu/secure/aapd/cist/vop/Business/Kudlerfinefoods
Cite this Marketing Research Paper for Kudler Fine Foods
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