Market Research at Kudler Foods
Market Research at Kudler Fine Foods
The catalyst of any successful business is the ability to quickly translate customer data in its many forms into a competitive advantage (Perreault, Cannon, & McCarthy, 2008). For Kudler Fine Foods, they have many opportunities to learn from their customers and grow their core business in the process. The intent of this analysis is to evaluate how the many concepts, frameworks and structures of market research can be used to augment and strengthen the store's ability to serve existing customers and gain new ones.
Retailers especially need to be cognizant of how to best to coordinate all the market research functions in a concerted and focused base of knowledge which can be used for making insightful, intelligent strategic decisions (Perreault, Cannon, & McCarthy, 2008). For retailers this focus needs to include the complete customer experience from an authenticity and trust standpoint (Wagner, 2010). The sensory aspects of market research in a retail environment also needs to be considered as the part of any methodology as well (Morrison, Gan, Dubelaar, Oppewal, 2011).
Justifying and Seeing the Value of Market Research at Kudler Fine Foods
What makes this retail business so unique is the specialized needs they fulfill with a distinct, highly differentiated customer base. From the "foodies" or hobbyist cooks to the commercial cooks who visit the store for items they need for their jobs, Kudler Fine Foods has significant upside revenue potential based on the link of its unique products and customer base. Capitalizing...
As the elasticity of demand for their products is flat Kudler could easily increase prices on new products and consumers would still buy them. They are missing out on a major opportunity to drive up profitability as a result. Customer's Preferences for Selection and Unmet Wants Large-scale retailers often rely on a framework of research to define the preferences and unmet wants or needs of customers by segment and audience (Thompson,
A third area Kudler needs to concentrate on is understanding the psychographic segments of their customers, including how they perceive themselves as part of a broader group (Wagner, 2010). This is essential for them to gain greater insight into how best to manage these key influencers as part of a broader panel and gain critical intelligence on how to position their business. Finally, it's very critical that any retail business have
These two types of wine alone had contributed to 90% of the total export growth. Italy saw a major rise in wine production in 2007 which again came from growth in production of sparkling wines. "Trade committee within the framework of Consortium Asti Spumante (Consorzio dell'Asti Spumante) declared that in comparison with the previous year the sales of sparking wines grew by 11.9% to total 78.8 million bottles. Export figures
There is some possibility that mandates for maintaining and/or establishing operations in certain regions might be implemented to ensure adequate food distribution to all of Italy as a means of addressing current trends and concerns, such a move is considered highly unlikely (Datamonitor 2010; Aruvian 2010). It is also unclear whether such a move by the Italian governement would be damaging or even necessarily applicable to Kudler Fine Foods
Kudler's advertising and marketing in its present form is through the Easter and Thanksgiving holidays with the local newspaper flyers every month. Marketing is a key component of a successful business and KFF should consider different methods of involving the community. For example, television advertising, Internet, radio stations and more promotions are viable. Secondly, employees must be sufficient time for KFF to obtain benefits. Many organizations have begun to
Kudler Fine Foods Case Analysis Kudler Fine Food Case Business Proposal to Enable Greater Innovative Thinking and Contributions Creating greater levels of innovating thinking and contributions throughout the company will lead to a broader base of potential next-generation products to select from, an increase in the number of concepts and ideas to reduce costs, and most importantly, deliver greater value and responsiveness to customers. These and other benefits can be realized when frameworks
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