Kudler Fine Foods is an upscale specialty store located in metropolitan area of San Diego, California. The company has three locations; La Jolla, Del Mar, and Encinitas. Each store has approximately 16,000 s.f. of retail space located in shopping areas. Kudler Fine Foods are stocked with the very best domestic and foreign goods which include: produce, pastries, various meats, seafood, condiments, packaged foods, dairy, and specialty cheeses.
Importance of Marketing Research
Market research is imperative for a company to know what type of products or services would be profitable to introduce in the market. Also with respect to its existing products in the market; market research enables a company to know if it has been able to satisfy customer needs and whether any changes need to be made in the packaging, delivery or the product itself. This enables a company to formulate a viable marketing plan or measure the success of its existing plan. Researching potential markets has helped Kudler:
• Identify where products are most likely to sell
• Identify market segments and niches
• Determine both domestic and international competitors
• Discover how to overcome market barriers
• Understand customer needs
• Identify new trends
• Establish fair market price for products
Strategic Objective and Tactics
Kudler Fine Foods has experienced significant growth and is now focused on expanding the services, improving the efficiency of its operations and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers. Kudler Fine Foods strategic objective is to increase loyalty and profitability of consumers. This is accomplished by expanding services, introducing frequent shopper programs, and increasing efficiency.
Kudler is offering in store show to help inform customers how to prepare specialty foods. The marketing tactic draws in consumers who want to learn tips from chefs, celebrities, and other food experts....