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Market Research

Kudler Fine Foods
Kudler Fine Foods is a local upscale specialty food store with three locations in the San Diego area. Each of these stores is located in a fashionable shopping center with nearly 16,000 s.f. of retail space. These stores offer the very best domestic and imported products from organic produce to specialty meats. After experiencing substantial growth, Kudler Fine Foods is now interested on increasing the loyalty and profitability of its consumers through the expansion of services, improving operation efficiency, and increasing the consumer purchase cycle (Apollo Group, 2004).
Market research is the first step that Kudler Fine Foods must perform in order to increase customer loyalty and profitability. Market research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions (Kerin,Hartley,Berkowitz &Rudelius, 2005). This is performed for the purpose of reducing risk and uncertainty therefore allowing managers to make better decisions (Kerin,Hartley,Berkowitz &Rudelius, 2005). The market research process consists of five steps; define the problem, develop a research plan, collect relative data, analyze the data, solve the problem (Armstrong &Kolter, 2005).
Kudler Fine Foods defined their problem or objective as increase loyalty and profitability of consumers. In order to achieve this, they are proposing to increase revenue by expanding services and initiating a frequent shopper program. They are also purposing a cost reduction measure through increase efficiency (Apollo Group, 2004).
As an expanding service, Kudler Fine Foods will conduct in store events that teach customers how to prepare specialty foods. This upscale party will feature renowned chefs, local celebrities and other food experts in order to draw customers. The anticipated outcome of the social festivities is to increase sales on high margin foods and beverages. In addition, special discounts can...