Premium Essay

Mkt 421 Week 3

In:

Submitted By infinitiptami
Words 819
Pages 4
In this paper I will review and analyze the importance of marketing research for Kudler Fine Foods; also will identify areas where additional market research is needed, analyze the importance of competitive intelligence and finally evaluate the development of Kudler Fine Food’s marketing strategy and tactics. Marketing research is defined by Entrepreneur Encyclopedia as the process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face. (Entrepreneur 2012) Kudler Fine Foods is located in San Diego, California and is an upscale local specialty food store. The founder of the company is Kathy Kudler and the first food store was opened in 1998. There are now a total of three stores. The mission statement of the Kudler Fine Foods is “our selections, coupled with our experienced, helpful and knowledgeable staff, merge to offer each customer a delightful and pleasing shopping outing.”(Virtual Organizations Portal) It is fair to state the marketing strategy is to present consumers with the best gourmet and quality foods or products which may be imported or domestic. Additionally, to create a loyalty or frequent shoppers program which will provide consumers with perks such as discounts, sales announcements, newsletter, and certain cooking classes. Understanding the importance of customer loyalty with the frequent shoppers program places the importance of a market research into perspective. This is how the consumers are analyzed and data is collected to cater accordingly while the company remains true to its mission statement and to its

Similar Documents

Free Essay

Mkt 421 Week 3

...Competitive Landscape When it comes to this type of argument it is very compelling to understand what needs to be done here. It is very important for a company to be able to understand what their competitive landscape market is and how they are going to use it. Within the Jackson Hewitt Company, they have many different competitors that offer similar to the same type of services they do. So the question here really is how Jackson Hewitt markets themselves and the new service of financial services that makes them more appealing to the customer. Marketing is the key, the whole purpose of why a company has marketing teams. Here are some examples of Jackson Hewitt’s competitive landscape. So let’s start out with the most obvious question, what is competitive landscape. “A competitive landscape (also known as “competitive intelligence”) provides cohesive, detailed information on what your competitors are doing including” (Koch, 2009). So when doing the research on Jackson Hewitt, I had come to a conclusion that they do not offer financial advisory to their customer such as some of their competitors do like H and R Block. So when a company wants to start up a new service, they need to research their competitor s to find out exactly what they are offering and the pricing of those services. A company needs to offer more for less in order to be competitive in a field that is already crowded. “In gathering competitive intelligence and creating your competitive landscape, you will...

Words: 449 - Pages: 2

Premium Essay

Mkt 421 Week 3 Rhetorical Devices

...1. Apple was trying to persuade their audience to purchase one of their brand new Macintosh computers. The commercial’s purpose was to use different sci-fi references and humor to persuade the audience to purchase the Macintosh computers. Apples sci-fi embedded tone makes the audience feel like Macintosh is something of the future. This makes the audience want to purchase of for themselves. Humor is also used to persuade the audience to purchase one of these computers. The pun of technology will destroy mankind is used in a commercial selling technology lightens the mood. This turns it in to a more playful kind of tone to end the commercial for the audience. 2. Apple mainly focused on the audience’s sense of ethos. The commercial was founded...

Words: 380 - Pages: 2

Premium Essay

Zsfhjmk

...Home Classroom Library Program Account PhoenixConnect Careers MKT/421 » Syllabus US/Arizona Time: Jul 29, 2014, 2:38 PM MKT/421 (BSDS1DBAM2) Class Home Week1 Week2 Week3 Week4 Week5 Full Syllabus Week2. Strategic Planning and Positioning. Jul 22 - Jul 28Week2 Strategic Planning and Positioning Jul 22 - Jul 28 / 13 points Tasks Complete the Learning Team Charter. Objectives/Competencies 2.1Identify the components of an effective marketing plan. 2.2Conduct a SWOT and competitive analysis. 2.3Apply the market research process in discovering and answering business questions. 2.4Apply a segmentation model to create a target market and develop a positioning statement. Learning Activities Required Reading Basic Marketing, Ch. 2 43 Reading Basic Marketing, Ch. 3 14 Reading Basic Marketing, Ch. 4 11 Reading Basic Marketing, Ch. 7 10 Reading Basic Marketing, Ch. 18 7 Discussion Favorite Brand Discussion 24 Discussion Product and Organization Selection and Approval 6 Discussion Research and Discussion 3 Video The Five Competitive Forces That Shape Strategy 1 Video Target: Inside the Bullseye 2 Video Positioning 11 Video Marketing Research and Segmentation 4 ERR Week 2 Electronic Reserve Readings Assignments ASSIGNMENT STATUS FRIENDLY NAME TITLE DUE DATE POINTS UNREAD COMMENTS Participation Week 2 Participation Due Jul 28, 11:59 PM /3 Presentation Marketing Mix Presentation Submitted /5 5 ...

Words: 19836 - Pages: 80

Premium Essay

Get Online Help with Ur Assignment Ashford a+Material

...http://homeworktimes.com/downloads/acc-202-complete-course-acc-202-entire-course/ http://homeworktimes.com/downloads/acc-206-entire-course-new/ http://homeworktimes.com/downloads/acc-206-new-week-1-assignment-chapter-one-problems/ http://homeworktimes.com/downloads/acc-206-new-week-2-assignment-chapter-two-three-problems/ http://homeworktimes.com/downloads/acc-206-new-week-2-journal-institute-management-accounting/ http://homeworktimes.com/downloads/acc-206-new-week-3-assignment-chapter-four-five-problems/ http://homeworktimes.com/downloads/acc-206-new-week-3-journal-hershey-company/ http://homeworktimes.com/downloads/acc-206-new-week-4-assignment-chapter-six-seven-problems/ http://homeworktimes.com/downloads/acc-206-new-week-5-assignment-chapter-eight-problems/ http://homeworktimes.com/downloads/acc-206-new-week-5-assignment-final-paper/ http://homeworktimes.com/downloads/acc-212-financial-accounting/ http://homeworktimes.com/downloads/acc-250-complete-course-acc-205-entire-course/ http://homeworktimes.com/downloads/acc-290-complete-course-acc-290-entire-course/ http://homeworktimes.com/downloads/acc-291-complete-course-acc-290-entire-course/ http://homeworktimes.com/downloads/acc-340-entire-course-acc-340-complete-course/ http://homeworktimes.com/downloads/acc-400-complete-course-acc-400-entire-course/ http://homeworktimes.com/downloads/acc-407-entire-course/ http://homeworktimes.com/downloads/acc-455-complete-course/ http://homeworktimes.com/downl...

Words: 3197 - Pages: 13

Premium Essay

Kudler Fine Foods

...Kudler Fine Foods By Desiray Kobel MKT 421 Marketing Kudler Fine Foods is a gourmet grocery store that was open to find the exotic ingredients for the fine dining in one place. Kudler has a bakery department, meat and seafood department, produce department, cheese and dairy department, and a vast wine selection. Kudler has been opened since 1998 and has three other locations with a possible fourth on the way. Kudler is a California based location in all three companies. Kudler is open on Monday- Saturday from 10am-6pm, and on Sunday from 11am-4pm. Kathy, the owner of Kudler thanks every customer for their patronage. Kudler is about to go on a marketing adventure to launch the possible fourth company opening. Kudler would like to expand the amount of customers that are currently shopping at the gourmet grocery store; to do this Kudler needs to do marketing research. In order for Kudler’s expansion proposition to take affect the appropriate marketing steps need to be executed. The importance of a well thought out marketing strategy is so when the new grocery store is opened the customers will want to shop there because of the marketing that has been set into place. The first step to be taken is a good marketing campaign that introduces the company to its new locations customers, let the new customers know the companies goals and the products that will be provided. The second step is to make sure that the company is still advertising the other locations so there...

Words: 1064 - Pages: 5

Premium Essay

Mkt 421 Final Exam Study Guide

...MKT/421 Final Examination Study Guide This study guide prepares you for the Final Examination you complete in the last week of the course. It contains practice questions, which are related to each week’s objectives. Highlight the correct response, and then refer to the answer key at the end of this Study Guide to check your answers. Use each week’s questions as a self-test at the start of a new week to reflect on the previous week’s concepts. When you come across concepts that you are unfamiliar with, refer to the Student Guide for that particular week. The Student Guide provides a breakdown of the readings that align to the Final Examination questions. Week One: Marketing Fundamentals Objective: Explain the importance of the marketing mix in the development of marketing strategy and tactics. 1. Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in its a. pricing b. promotion c. personnel d. product Objective: Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness. 2. Good marketing strategy planners know that a. firms like Nabisco and WalMart are too large to aim at clearly defined target markets b. target marketing does not limit one to small market segments c. mass marketing is often very desirable and effective d. the terms mass marketing and mass marketer mean basically the same thing Week Two: Marketing Research Objective: Identify various segmentation...

Words: 581 - Pages: 3

Premium Essay

Blahnah

...Running Head: DEFINE MARKETING PAPER 1 Define Marketing Paper Mary Riddell MKT/421 February 3, 2014 Ralph Schoen DEFINE MARKETING PAPER 2 The schoolbook defines marketing as; Marketing is the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to the customer or client. My personal definition is; Applying to both profit and nonprofit organizations, marketing is done by completing tasks geared towards a potential organizations goals and objectives. Directing the flow of goods, needs, wants, or demands of the customer or client from the producer, when completed successfully meets those requirements, the product should sell itself. Marketing makes it way into our daily lives. While watching television, listening to the radio, reading a magazine or newspaper, roaming the Internet, and even walking down the street. We are exposed to marketing to sell us products or impact our life somehow. Marketing is what keeps radio stations and TV stations running, paying the station the run its ad to gain exposure for more profits. Every job will have marketing in some way to bring in more customers which in return is more money for the business, even down to one's resume, which is a way or marketing ones self to the employer. Businesses goals are to become profitable...

Words: 912 - Pages: 4

Premium Essay

Xmgt 216 Week 6 - Organizational Ethics and Social Responsibility

...Your name XMGT / 216 ORGANIZATIONAL ETHICS AND SOCIAL RESPONSIBILITY Week 6 Individual Current Ethical Issues Paper date Kudler Fine Foods is a gourmet grocery store that was open to find the exotic ingredients for the fine dining in one place. Kudler has a bakery department, meat and seafood department, produce department, cheese and dairy department, and a vast wine selection. Kudler has been opened since 1998 and has three other locations with a possible fourth on the way. Kudler is a California based location in all three companies. Kudler is open on Monday- Saturday from 10am-6pm, and on Sunday from 11am-4pm. Kathy, the owner of Kudler Fine Foods, thanks every customer for their patronage. Kudler is about to go on a marketing adventure to launch the possible fourth company opening. Kudler would like to expand the amount of customers that are currently shopping at the gourmet grocery store; to do this Kudler needs to do marketing research. In order for Kudler’s expansion proposition to take affect the appropriate marketing steps need to be executed. The importance of a well thought out marketing strategy is so when the new grocery store is opened the customers will want to shop there because of the marketing that has been set into place. The first step to be taken is a good marketing campaign that introduces the company to its new locations customers, let the new customers know the companies goals and...

Words: 1071 - Pages: 5

Premium Essay

Define Marketing

...DEFINE MARKETING 1 Define Marketing Larry Jean Baptiste University Of Phoenix Unit 1 Individual Project Course: MKT/421 Facilitator: Henry Weber May 13, 2013 DEFINE MARKETING 2 Define Marketing Marketing is the performance of activities that seek to accomplish and organization’s objectives by anticipating customers’ or clients’ needs and directing a flow of need-satisfying good and service form producer to customers or clients. (Perrault, Cannon, & McCarthy 2011) In my opinion Marketing is a way that organizations or corporations communicate to potential and current customers in reference to having products or services that they need or desire at an affordable price. Marketing is the process of technique of promoting, selling, and distributing a product or service. (Marketing (n.d.) http://www.merriam-webster.com/dictionary/marketing.) Marketing play a vital role in an organization’s success, because without a marketing plan on how to distribute , promote, and inform potential customer and current customers of products or services that the company provides, then failure of the company is inevitable. There are a lot of competitors out there, due to this fact an organization have to place big emphasis on marketing, because not only do the company have to get the information about eh products and services to the customers in order for them to make an informed decision to get the product or service. They also have to do it cost effectively...

Words: 919 - Pages: 4

Premium Essay

Favorite Brands Paper

...MKT 421 Week 1 Individual Assignment Favorite Brand Paper Write a 750- to 1,000-word paper in which you identify your favorite brand and explain why it is your favorite. In the paper you should do the following: • Identify a brand about which you are passionate. • Explain a minimum of three reasons why you are passionate about this brand. • Respond to the following questions: • Is the company successful in building loyal customer relationships across different groups? • Why or why not? • Identify at least two other competitors in the same industry, and explain why you prefer your selected brand over the competitors. Equity Bank Equity Bank, a Kenyan based financial services company is an organization that I am so passionate about in the banking industry. The bank was started in 1984 as Equity Building Society (EBS) and it used to provide finances for mortgage to most of its customers who fell in the low income earners bracket. The bank is led by a board of directors headed by the famous chairman; peter Munga and the group’s chief executive officer Dr. James Mwangi (Allen, 2013). I like this brand because of several reasons as outlined below 1. Leadership The bank is managed by an experienced board of directors who ensure that there is consistency in customer satisfaction and adequate innovation which results to efficiency. In November 2013, the company’s chairman Peter Munga was titled Chairman of the Year in the 4th edition of the...

Words: 922 - Pages: 4

Premium Essay

Kudler Fine Foods

...Kudler Fine Foods Gregory Salazar Mkt/421 April 10, 2013 Jose Medina Kudler Fine Foods Introduction Kudler Fine Foods is a local upscale specialty food store located in the San Diego metropolitan area that specializes in both domestic and imported foods. The mission of the store is offer each customer a delightful and pleasing shopping outing by providing quality products at appropriate prices, in comparison of the competitors. Kudler Fine Foods was established in 1998 and currently has three locations in California, La Jolla, Del Mar and Encinitas. Each store has approximately 8,000 square feet of retail space conveniently located in a fashionable shopping center. Each Kudler location offers the very best of the following selections Fresh Bakery and Pastry products, Fresh Produce, Fresh Meat and Seafood, Condiments and Packaged Foods, and Cheese and Specialty Dairy Products (University of Phoenix, 2013). Focusing on the Food marketing strategy and tactics is important for all companies. A company has to ensure that all areas chosen for expansion must be researched and ensure they can be successful in that area. Marketing research will provide what product a company can and cannot sell in a certain area. Marketing research can also provide what type of consumers or customers are in the area as well as what competitors. Companies with great marketing research will get one foot closer to being successful. This paper will address the importance of marketing research...

Words: 938 - Pages: 4

Premium Essay

Definifng Marketing

...Running head: MARKETING RESEARCH PAPER Marketing Research Paper Aida Eulloqui University of Phoenix MKT/421 October 08, 2012 Marketing Research Paper Marketing Research Paper for Kudler Fine Foods Kathy Kudler would relieve her stress by using gourmet cooking. In the journey of finding the ingredients she learned she needed to travel to different locations. Kathy chooses to open her own area of expertise, a convenient food store to purchase products needed for gourmet cooking all in one place and at a reasonable price. In this paper will identify areas in which there is need for additional research and analyze the importance of competitive information and analysis in regard to the development of Kudler Fine Food’s marketing plan and tactics. According to Kudler fine Food’s Vision Statement,(Strategic Plan, 2003 “p1”) “Kudler Fine Foods will be the premiere gourmet grocery store for those savvy shoppers who are searching for the finest meats, produce, cheeses, and wines” Kudler Fine Foods strives to provide its customers with the freshest baked goods, produce, meats, seafood, cheese, specialty dairy products, and wines. Kathy Kudlers goal is to be the specialty food store gourmet cooks look to when shopping for the ingredients for their culinary creations. The opening of her first store in 1998 proved to be an immediate success. Kathy has opened two other locations since. A prominent goal of marketing research...

Words: 1074 - Pages: 5

Free Essay

Environmental Factors

...Environmental Factors MKT 421 Environmental factors are identifiable elements in the physical, cultural, demographic, economic, political, regulatory, and technological environment that affect the survival, operations, and growth of an organization. A global organization such as Target has to take into consideration these environmental factors to continue to grow outside the borders of the nation of origin. This paper will analyze global economic interdependence, the effect of trade practices and agreements, the influence of cultural differences, the effect of political systems, and the influence of international relations in relation to Target. This paper will also analyze the importance of demographics and physical infrastructure, the concepts of social responsibility, and the ethical and legal obligations of Target. An explanation of the effects of technology and the influence of the Foreign Corrupt Practices Act of 1977 as well as the influence of local, national, and international legislation on Target policies and practices, are included.("Environmental factors," 2012) Environmental Factors Although Target stores have only recently moved into a global market with the acquisition of properties in Canada, Target Corporation has been a global organization for decades. Target has multiple divisions operating in other nations throughout the world. India is home to the Target IT solutions, customer service, and technical support divisions. There are many offices...

Words: 1111 - Pages: 5

Premium Essay

Mkt 441

...[pic] John Sperling School of Business Course Design Guide MKT/421 Version 10 Marketing Copyright Copyright © 2009, 2008, 2005, 2004, 2003, 2001 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix® editorial standards and practices. Course Syllabus |Course Prefix and Number: |MKT 421 | |Credits: |3 | |Course Title: |Basic Marketing | |Course Schedule: |March 10, 2010 – April 07, 2010 | |Course Location/Times/Newsgroup: ...

Words: 6431 - Pages: 26

Premium Essay

Mkt Week 2 Team

...Week 2 Team Paper Sean Kane, Chris Benson, Douglas Cabral, Brittany Dings, and Chris Loeffler MKT/421 April 1, 2014 Mark Glasier Week 2 Team Paper The Apple, Inc. company is the one we choose to work with in providing a new product/service for the public. Within this paper we will give you an overview of the Apple Inc. company. Provide you with a new product/service that will significantly affect the everyday lives of Apple Inc. users. This paper will explain the importance of marketing to Apple Inc. continual success. We will go through a SWOTT analysis that will focus on strengths, weaknesses, opportunities, threats, and trends on the new product/service we provide. To close the paper will show the marketing research approach that will be used to develop the marketing strategy and tactics for the new product/service. Apple, Inc. is a company that focuses on exceling in the mobile communication, personal computers, and portable music industry. Apple also sells a series on software, digital applications, and networking solutions. As of May of 2013 the market cap for Apple was set at $416.62 billion. They also were voted #1 on the Forbes list of “World’s Most Valuable Brands” and in “Market Value.” Since 1976, when Apple was founded by the late Steve Jobs, Steve Wazniak, and Ronald Wayne, has come a long way and topped charts of how powerful and successful they had become. During the first five years of production and operations, Apple managed to double their revenues...

Words: 1334 - Pages: 6