Please help justify the importance of marketing research in the development of Kudler Fine Food's marketing strategy and tactics, and identify the areas where additional market research is needed. Analyze the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Food's marketing strategy and tactics.
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Running Head: KUDLER FINE FOODS
Marketing Research in the Development of Kudler Fine Foods
Kudler Fine Food is a much admired food store situated at different locations in California. Kudler Fine Food is known for offering a diversity of gourmet foods. Presently, this food store wants to expand its services, improve the efficiency of its operations and increase its consumer purchase cycle and for this it want to make use of marketing research. With the use of marketing research, the company will effectively develop new strategies' and tactics for it (Marketing Research, 2007).
Importance of Marketing Research in Kudler Fine Food
Marketing research can assists the company in developing its marketing strategy and tactics, by helping it in the following way:
• Specifying the constraints: Marketing research will guide the company in understanding the constraints that are essential in the process of decision making related to the limitations placed on potential solutions to a problem.
• Identifying data required for marketing action: Marketing research will help the company in gathering varied sets of data from which relevant data can be collected for formulating the marketing strategy and tactics.
• Exploring consumer response: With the help of marketing research, the company would become able in identifying the reaction of its consumers towards its new products or services. With this evaluation, the company management will be able to develop a product or ...
The solution helps justify the importance of marketing research in the development of Kudler Fine Food's marketing strategy and tactics. It identifies areas where additional market research is needed.