Marketing Research

Essay by DawnyailA+, January 2007

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It is important for any business to consider their positioning before moving forward with plans to change their marketing strategy or tactics. Innovation will not pay off for a company that has not found a successful positioning within its market. "Consumers are overloaded with information about products and services. They can not reevaluate products every time they make a buying decision," (Armstrong & Kotler, 2005, p.208). Positioning enables a company to establish their brand in a customer's mind, and build loyalty for the product not just the pricing. Loyalty prompts people to pay more for a familiar brand. Market research provides a company with the data necessary to make this evaluation, and to determine where their product or service fits into the customers buying behaviors.

Kudler Fine Foods is a local upscale specialty food store located in California. The three stores located in La Jolla, Del Mar and Encinitas and are approximately 16,000 square feet each.

Getting the most out of each square foot of the three stores will be the focus of Kudler's marketing campaign. "The purpose for the 2006 sales plan is to help Kudler's managers prioritize and focus resources in a way that reaches the organization's objectives. During 2006 Kudler plans to increase customer loyalty by offering added high-margin services, leveraging the firm's better understanding of customer purchase patters, and providing more efficient operations," (Kudler Fine Foods, 2005).

Kudler is focusing on several areas; research, development, and rollout of new programs which include: Cooking classes and frequent shopper program. Kudler plans to acquire new customers' thorough social network marketing and word of mouth. The selling function will support the expansion of services and programs to increase loyalty and profitability of existing customers and to gain new high-margin customers. Before beginning this plan, Kudler will need...