Marketing Research of Kudler Fine Foods Virtual Organization



Marketing Research of Kudler Fine Foods Virtual Organization

Introduction

For Kudler Fine Foods, the importance of marketing research is essential for the operations of the business. The competitive advantage will let Kudler to set the right price for the products, as one of the key components setting themselves from the competition is specialty items which is vital and crucial in the marketing strategy of the company.

Need of Market Research at Kudler Fine Foods

Market Trends

It is important for Kudler Fine Foods to work on the new trends of the market through having proper knowledge of the market. In the service sector, it is necessary to know which products is gaining popularity. For case in point, gluten free products are becoming more popular and to gain market share, Kudler Fine Foods will have to sell those products. In addition to selling the products, Kudler Fine Foods will have to market those products to the right target group.

Data Management

The companies need to have a system to organize and store data for analyzing the market environment; thus, Kudler Fine Foods is provided statistical information from the frequent purchase program. This data is useful to identify the products purchased frequently by the consumers. The identification of frequently purchased products and also the products which are not being frequently purchased will find out whether the pricing strategy is the appropriate or not.

Therefore, organizations like Kudler Fine Foods will have to depend on the different strategies of marketing research as for the variations with markets, products and consumers it is imperative to obtain data from each segment of the market. Though, there are many ways to obtain the data which include the descriptive research which usually involves trying to find the frequency that something will take place or the extent of ...