University of PhoenixMBA 502July 28, 2008Table of ContentsIntroduction3Market Research5Figure 1 Kudler market survey results Ã¯Â¿Â½ vs. Ã¯Â¿Â½6Marketing Mix7Figure 2 Kudler Marketing Mix7Product Offering8Pricing9Place Defined10Promotion(s)11Target Market12Figure 3 Kudler catering demographic groups12Results13Conclusion14References15IntroductionAccording to bnet.com, diversification is Ã¦ÂÂ³ strategy to increase the variety of business, services, or product types within an organization. Diversification can be a growth strategy, taking advantage of market opportunities, or it may be aimed at reducing risk by spreading interests over different areas. It can be achieved through acquisition or through internal research and development, and it can involve managing two, a few, or many different areas of interestÃ¯Â¿Â½ (BNET.com, 2008).
Kudler Fine Foods (Kudler) is interested in expanding its service offering to add a catering service in addition to the in-store parties that it currently offers. Within the limits of this paper, examples are provided of the kinds of opportunities Kudler has within its marketing mix (product, price, place and promotion) for its new catering service.
This paper will specifically do the following:a)Assess the relative value of the two pieces of market research.
b)Explain the components of the marketing mix for KudlerÃ¦ÂÂ¯ new catering service.
c)Explain how Kudler should determine the products it wants to offer.
d)Explain how Kudler should determine what its pricing should be relative to other catering companies.
e)In terms of catering service, explain what the term place means.
f)Explain how Kudler might go about promoting the catering serviceg)Describe how KudlerÃ¦ÂÂ¯ target market affects its use of technology.
h)If Kudler does decide to go with a catering service, explain how this decision will mesh with its decision to use local organic growers.
Finally, the paper will conclude with a summarization of the items discussed and provide addition information, if adequate, about KudlerÃ¦ÂÂ¯ decision to venture into the catering service line of business.
Market ResearchAccording to...