Marketing Research: Kudler Fine Foods

1042 Words Nov 19th, 2007 5 Pages
Marketing Research: Kudler Fine Foods
Kudler Fine Foods has continued to grow and is now poised to make significant internal changes to increase revenue and customer satisfaction. Kudler Fine Foods is a gourmet grocery store and recent market surveys have shown they have continued to exceed customer 's satisfaction in every area except one: the cost of merchandise. By exploring ways to reduce costs Kudler Fine Foods will experience an increase in customer satisfaction.
The Importance of Marketing Research
Market research plays an important role in every aspect of an organization 's strategy of expansion and diversification. Since Kudler Fine Foods is expanding services then it needs to know about their competitors. Market research
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The Importance of Competitive Intelligence and Analysis
Utilizing the benchmark process to determine best practices will help key decision makers in developing streamlined production processes. Competitive intelligence and analysis will help it to formulate ways to stay ahead of its competitors.
Using benchmarked data, Kudler Fine Foods can "reduce costs of ordering foods and minimize the amount of food to be stored, while also having a zero stock out policy…[and develop] a supplier relations program…" (Apollo Group 2, 2005) These initiatives will reduce Kudler Fine Foods ' internal costs which can be passed on to the consumers.
Considering that 42% of polled customers over a two year period feel that their purchases are not worth what they are paying, this should be an item of concern. More value for the dollar is what consumers want. While this is difficult in the gourmet industry, those that shop gourmet foods should be aware they are getting a superior or even unusual item.
Summary
Kudler Fine Foods has experienced growth in all areas except customer satisfaction with their pricing. By focusing on ways to reduce internal costs then product costs can be lowered enough to appease current customers and attract new ones. The culminating effect of this one action will generate an increase in sales, customer returns, and the overall shopping
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