Kudler Fine Foods Virtual Organization



Kudler Fine Foods Virtual Organization

Introduction

Kudler fine foods is one of the leading stores in the food market. The organization specializes in the wide variety of food products including meats and sea food, bakery items, wines, cheese and dairy. The company has been expanding significantly, due to its competitive marketing strategies and product line. Currently, the organization relies on its marketing surveys and competitive intelligence for devising the marketing strategies. However, for continuing future expansion and competitive position, Kudler needs to focus more on the research on current areas, as well as it should develop the marketing strategies incorporating some additional areas. Furthermore, the increased competitive intelligence and analysis would support the marketing strategy of the organization.

Importance of Marketing Research Process for Kudler

The process which is used to define the marketing problem and opportunity, and to collect and analyze relevant information is known as Marketing Research (Kerin, 2009). The marketing research helps the organization in various major business processes, including creation of long term and effective business plans, launching of new services and products, and expansion of the business into new markets. Also, it is the marketing research which lets the organization figure out that what products do the consumers want to see in their stores, and what is the ranking of their business in the competitive local and global markets. Thus, Kudler has been able to determine their market share using the process of market research.

One of the major reasons for continuous success of the Kudler's stores is their reliance on the marketing research process for developing and updating their marketing strategies. There are five well defined steps of the marketing research process; definition of marketing problems and opportunities, development of research plan, collection of relevant information through specifications, development of findings, and finally taking marketing actions (Longmeyer, 2011). These five steps help the organization to identify their weakness and strengths, and develop the strategies for expansion.

Areas Requiring Marketing Research

Kudler need to engage in additional marketing research, in order to remain competitive. One additional area for the Kudler to have marketing research in is the business trend. Using the business trend research, Kudler would be able to know about the latest trends of the food industry and the rates of growth. Although, the surveys conducted by the Kudler's marketing research teams revealed that the customer are satisfied with the product line an services of the store, most of them were dissatisfied with the prices offered at the store. Thus, Kudler needs to involve in additional marketing research, so that it would be able to reduce the prices and increase the customer satisfaction level. This becomes particularly important for the organization when it has already experienced significant growth and now the management is focused on improving the efficiency of its operations, and increasing the consumer loyalty. Recently, Kudler has also started cooking classes as a part of its marketing strategy; along with these classes, there is a need for Kudler to research about the ...