Use this link http://kudlerfinefoods.info/ to access additional company information on Kudler Fine Foods.
Write a 1,050- to 1,400-word paper in which you 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 and what you would recommend. Analyze the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Food's marketing strategy and tactics.
Format your paper consistent with APA guidelines.
The attached document is not intended as an assignment completion.
Kudler Fine Foods is an online specialty and exotic foods market. The company refuses to use
preservatives and artificial ingredients in the products they sell (Kudler Fine Foods, 2013). Therefore,
Kudler competes in the areas of fine foods, natural food markets, and organic food markets. Today's
food industry is highly competitive, whether a company offers ordinary food products or specialty food
products. The most important consideration in developing a marketing strategy and positioning the
company is the consumer. The consumer determines demand. Satisfied consumers may demand more
of the same product. If they are dissatisfied, they may seek alternatives. In highly competitive markets,
consumers may try substitutions simply because an organization offers a deal that is too good to pass up
or is potentially offers added value.
In order to compete within the various market segments, Kudler Fine Foods must engage in
market research. It is research that provides data on consumer trends, demand, and expectations.
Knowing what consumers want is only the beginning, however. Giving consumers what they want,
when and where they want it are of equal importance (The Times 100, 2013). Developing a marketing
communications plan or branding strategy is a challenge, when the organization does not possess a
thorough understanding of consumer markets. The only way to understand consumer markets is to
gather real data about them, in terms of the variables that go into selecting products for purchase.
There are many types of data that can be useful to Kudler Fine Foods. The fine foods market
is not necessarily similar to the natural foods market or the organic food market. ...
The solution discusses marketing research in the development of marketing strategies and tactics.