Kathy Kudler is the owner of Kudler okay Foods, which is a gourmet grocery stock certificate that has experienced signifi lavatoryt growth and constantly focuses on expanding its services, upward(a) the efficiency of its operations, and increasing the consumer purchase cycle. This paper allow for apologize the importance of commercialiseing research in the development of Kudler Fine Foods marketing strategy and tactics, and identify the areas where Kudler requires additional market research. It will also analyze the importance of competitive intelligence and depth psychology in regards to the development of Kudler Fine Foods marketing strategy and tactics.
The splendor of Market Research
Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing reading, and recommending actions (Kerin, et. al., 2006, p. 205). According to the Clearlybusiness website, You foot have the best product in the world but, without abundant information on your customers and their behavior, your chances of succeeding will be slim. This is why knowledge of the market in which your products or services exchange is so crucial. And one of the best shipway to gather that information is through rigorous market research (2004).
Market research plays an chief(prenominal) role in every aspect of an organizations strategy of magnification and diversification. Since Kudler Fine Foods is expanding its services indeed it needs to know well-nigh its competitors. Market research helps in determining its position following(a) to its competitors.
Market research will help identify Kudlers market share. Kudler Fine Foods will be able to identify the areas where it is stronger than its competitors and then work on its strengths to tackle a strategy against its rivals. Similarly, the five dollar bill steps of marketing research outlined below can help identify its potentially weak areas and devise ways to overcome its rivals.
Additional Market Research
Kudler Fine Foods...
The use of SWOTT (Strength, Weakness, Opportunities, Threats, Trends) could have compound the intensity of the need for further market research
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