...\ Marketing Research Analysis MKT/421 March, 13th, 2013 Julio Nunez Marketing Research Analysis: Kudler Fine Foods In marketing we learn the various variables that companies use to market and strategize products or a message to a large base of individuals. The difference between selling a product and advertising a product is the amount of research that goes into determining who will buy the product. The most unique component about marketing is the target demographics such as age groups, gender, culture, ethnicity, and various other target audiences are the areas a marketing strategy would have to consider to be effective. With Kudler Fine foods you come to found that you have an organization that has adopted a simple motto, which has reflected in its overall success, which is “Provide their customers with the finest selected foodstuff, wines, and related needs in an unparalleled consumer environment” (University of Phoenix, 2008). As we have seen the Kudler Fine Food organization has branch into a three location in the California area. With a successful marketing strategy the Kudler Fine Food business with see a substantial increase in its business and expansion to more individuals...
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...MARKETING (WH) {MKTG} L/R 101. Introduction to Marketing. (C) Niedermeier. The objective of this course is to introduce students to the concepts, analyses, and activities that comprise marketing management, and to provide practice in assessing and solving marketing problems. The course is also a foundation for advanced electives in Marketing as well as other business/social disciplines. Topics include marketing strategy, customer behavior, segmentation, market research, product management, pricing, promotion, sales force management and competitive analysis. 211. (MKTG773) Consumer Behavior. (C) Cutright, Reed. Prerequisite(s): MKTG 101. This course is concerned with how and why people behave as consumers. Its goals are to: (1) provide conceptual understanding of consumer behavior, (2) provide experience in the application of buyer behavior concepts to marketing management decisions and social policy decision-making; and (3) to develop analytical capability in using behavioral research. 212. (MKTG756) Marketing Research. (C) Shen, Eliashberg. Prerequisite(s): MKTG 101, STAT 101. Students are highly encouraged to take statistics in the semester immediately preceding this course. This course examines the role of marketing research in the formulation and solution of marketing problems, and the development of the student's basic skills in conducting and evaluating marketing research projects. Special emphasis is placed on problem formulation, research design, alternative methods...
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...Bakery and Pastries � Fresh Produce � Fresh Meat & Seafood � Condiments and Packaged Foods � Cheese's and Specialty Dairy Products Market Research Market research comprehends all the areas of marketing, right from the thought for a new product to after sales service. The information which is accumulated and examined with the help of marketing research can efficaciously be applied for internal directs or for making substantial strategic decisions. The process of market research extends a scientific platform, in contrast to traditional non-rational approach of decision making by company managers, which used to engage a large amount of resources of organization at a risk (Kotler, 2002). Significance of Marketing Research in Kudler Fine Foods The environment for marketing has become vivacious and chaotic. Without adequate grounding, it is not simple for organizations to survive in such an environment. Companies need to assemble information about their customers' likes and dislikes and the grounds for them. Peculiarly in case of a food company, it is very essential for it to distinguish the taste and orientations of its customers as tastes of consumers in respect to their food habits change often. To resolve all these market related troubles, company can make use of market research like Kudler Fine Foods. Market research alleviates it in...
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...Marketing research Marketing research is “the process or set of processes that links the consumers, customers, and end users to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.”[1] It is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.[2] Marketing research is often partitioned into two sets of categorical pairs, either by target market: • Consumer marketing research, and • Business-to-business (B2B) marketing research Or, alternatively, by methodological approach: • Qualitative marketing research, and • Quantitative marketing research 1 Role The task of marketing...
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...Definition of Marketing Research: Marketing research is defined as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems (and opportunities) in marketing. 1) Identification: Involves defining the marketing research problem (or opportunity) and determining the information that is needed to address it. 2) Collection: Data must be obtained from relevant sources. 3) Analysis: Data are analyzed, interpreted, and inferences are drawn. 4) Dissemination of information: The findings, implications, and recommendations are provided in a format that makes this information actionable and directly useful as an input into decision making. Classifications of marketing research.: 1) Problem identification research: The goal is to identify existing or potential problems not apparent on the surface. Examples include market potential, market share, market characteristics, sales analysis, short-range forecasting, long-range forecasting, and business trends research. 2) Problem solution research: The goal is to solve specific marketing problems such as segmentation, product, pricing promotion, and distribution research. Steps involved in the marketing research process: 1) Problem definition: Defining the marketing research problem to be addressed is the most important step because all other steps will be based on...
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...Market Analysis Overview Whether you are starting a new business or launching a new product, conducting a marketing analysis is the first step in determining if there is a need or audience for your idea. Knowing the market's needs and how it is currently serviced provides you with key information that is essential in developing your product/service and marketing plan. Too often, businesses spend thousands of dollars launching a "new" idea with a limited market because of competition. The owner is forced to reevaluate his strategy and determine if there is room for another player. Although the quality of the product is critical, your development of the best product on the market will not necessarily correlate with the most sales. Up to 50 percent of a product's price can be for marketing. The company who wins the marketing game generally will capture the larger share of the market. For related information, see Identify Your Target Market. Conducting a market analysis will help you: 1. Prepare to enter a new market 2. Launch a new product/service 3. Start a new business At the completion of this exercise, you should be able to: • Explain the concepts of a marketing analysis • Determine if there is a need for your idea or product/service • Identify a new market • Analyze your current market • Gain a competitive advantage • Begin to establish a marketing plan Outline: I. Marketing Analysis - What Is It? Why Should You Do It? II...
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...Pass: 3 Introduction to Marketing Describe how a selected organisation or any other organisation uses marketing research to contribute to the development of its marketing plane. A definition of marketing research: "Marketing research is the systematic and objective search for, and analysis of, information relevant to the identification and solution of any problem in the field of marketing." The key words in this definition are; systematic, objective and analysis. Marketing research seeks to set about its task in a systematic and objective fashion. This means that a detailed and carefully designed research plan is developed in which each stage of the research is specified. Such a research plan is only considered adequate if it specifies: the research problem in concise and precise terms, the information necessary to address the problem, the methods to be employed in gathering the information and the analytical techniques to be used to interpret it. The market research brief: Marketing research can be concerned with any of a variety of aspects of the market: the product, sales, buyer behaviour, promotion, distribution, pricing, packaging, etc. Since the researcher cannot investigate everything about a market, he/she must be selective. The question remains as to how the researcher decides where to focus the study, and to what depth each issue should be investigated. The answer should lie in a document called the research brief. The research design is a set of guidelines...
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...Thursdays 2-4:50 pm Spring 2011 Professor William R. Dillon 210A Fincher 214/768-3163 Email: bdillon@mail.cox.smu.edu Office Hours: Thursday 1-2 pm and by appointment Course Description Determining what is valued and the importance of product features and service offerings is perhaps the most important issue that marketing managers face. Recently, conjoint and choice models have become popular techniques to help marketing managers understand what customers value. The objective of this course is to expose the student to a variety of preference models used by brand managers and marketing analysts and to give students hands-on experience in using conjoint and choice modeling techniques. This course examines these marketing decisions using a combination of lectures, cases, and exercises. Learning Objectives: 1) Develop an understanding of consumer decision making frameworks and protocols. 2) Learn how to design and analyze choice/conjoint experiments so as to quantify the importance consumers place on specific attributes/ benefits. Course Material Readings, Lecture notes, Case Exercises and Situation Analysis directions are available on Blackboard at https://courses.smu.edu/webapps/login/ . Evaluation Exam 40% Quizzes 35% Simulation Exercise 25% 100% Please consult the Simulation Exercise document for details. IMPORTANT! The simulation exercise is a group (two-three person assignment) and is...
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...The Role of Online Social Media in Brand-Consumer Engagement: An Exploratory Study Abstract Submitted to the Direct/Interactive Marketing Research Summit Proceedings August 31, 2012 Andrew J. Rohm Associate Professor, Marketing Department, College of Business Administration, Loyola Marymount University, Los Angeles, CA, arohm1@lmu.edu George R. Milne Professor, Marketing Department, Isenberg School of Management, University of Massachusetts Amherst, Amherst, MA, milne@isenberg.umass.edu Velitchka Kaltcheva Associate Professor, Marketing Department, College of Business Administration, Loyola Marymount University, Los Angeles, CA, velitchka.kaltcheva@lmu.edu Researchers have noted the importance of generating more effective brand-consumer engagement with respect to increased profits, customer satisfaction, and customer loyalty (Palmatier et al. 2006). Customer engagement is defined as active interactions with a firm, with prospects and with other customers (Kumar et al. 2010). We focus on engagement because consumers’ interactions with brands are now more similar to a multi-party conversation than to a brand-dictated monologue (Deighton and Kornfeld 2009; Hennig-Thurau et al. 2010). Social media platforms including Facebook and Twitter have become integral elements for companies and brands seeking to develop intimate online customer relationships; conversely, they provide consumers an online “soapbox” with which to publish and disseminate personal evaluations...
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...D'Annunzio MKT/421 Marketing April 20, 2011 Judith Longmeyer, MBA Kudler Fine Foods Kudler Fine Foods is an upscale gourmet food market. Kudler specializes in fine bakery products, meats and seafood, produce, cheese and dairy, and wines. The company wants to expand with a new location. With the expansion, Kudler needs to focus on the marketing strategy and incorporate additional marketing research. Competitive intelligence and analysis helps Kudler redefine the marketing strategy. Importance of Marketing Research According Kerin, et. al. (2009), “Marketing research is the process of defining a marketing problem and opportunity, systemically collecting and analyzing information and recommending actions” (Marketing, 2009, p. 199). Marketing research helps create long-term business plans, launch new products or services, and expand into new markets. Market research determines what the consumer desires in the store and the ranking against competitors. Kudler identifies the market share through research. Marketing research involves five steps. The five steps are defining the problem, develop the research plan, collect relevant information by specifying, develop findings, and take marketing actions (Longmeyer, 2011). Using the five steps of market research identifies the weaknesses and strengths in the expansion development. Additional Market Research For Kudler to remain competitive, they need additional market research in business trend research. Business trend...
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...UNIT 14 Research INTERNATIONAL MARKETING RESEARCH Objectives After going through this unit you should he able to • explain the global marketing research scenario • • • • • explain the scope of international marketing research describe the procedure for undertaking international marketing research describe the techniques available for international marketing research plan a field research describe the techniques available for interview • identify and explain the various steps in analysis of field data and preparation of research report Structure 14.1 Introduction 14.2 Marketing Research : The Global Scene 14.3 The Scope of International Marketing Research 14.4 International Marketing Research Procedure 14.5 Techniques of International Marketing Research 14.6 Survey Research 14.7 Techniques of Interviewing 14.8 Analysis of Field Data 14.9 Preparation of Research Report 14.10 Summary 14.11 Self-assessment Questions 14.12 Further Rea dings 14.1 INTRODUCTION In international marketing, the marketer is faced with a dilemma of having too much data and too little information. There is plenty of global data from sources like the World Bank and other international bodies, but often a lack of specific information on countries and markets. In helping to reduce uncertainty around decision-making, precise information is the key. Whilst searching for opportunities globally, uncertainties arise due to four main factors:...
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...and increase the number of repeat customers that frequent the store. It is her dedication to her employees and customers as well as her commitment to providing outstanding products and services that has made her business a success. Kathy knows, however, that to remain successful it is going to be necessary to develop effective marketing strategies and tactics and that the first step is to incorporate marketing research. Through the course of this paper the importance of marketing research will be addressed. An analysis of the importance of competitive intelligence and marketing strategy and tactics for Kudler Fine Foods will also be discussed. Importance of Marketing Research Marketing research is defining a marketing problem then systematically collecting and analyzing information and finally recommending actions (Day, 2005). Marketing research is essential to the success of any business whose main objective is, like Kudler's Fine Foods, to offer products or services that are well targeted (Day, 2005). When making business decisions based on market research, risk can be minimized and the business process is likely to thrive (Day, 2005). Market research helps organizations like Kudler‘s Fine Foods communicate better with current customers by...
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...MARKETING 202 NOTES CHAPTER 1 MARKETING RESEACH = systematic and objective process of generating information to aid in decision making BASIC (PURE) RESEARCH= > expands limit of knowledge or learn more about concept > not aimed at solving pragmatic problem > verify acceptability of certain theory APPLIED RESEARCH= > conducted when a decision needs to be made about specific real life problem > studies undertaken to answer specific question (our focus) SCIENTIFIC METHOD= > techniques and procedures used to recognise and understand marketing phenomena 4 STAGES OF DEVELOPING AND IMPLEMENTING MARKETING STRATEGIES: 1. Identifying and evaluating opportunities 2. Analyse market segment and select target markets 3. Planning and implementing a marketing mix that will satisfy customers’ needs and meet objectives of the organisation 4. Analysing market performance TYPES OF RESEARCH FOR PLANNING AND IMPLEMENTING MARKETING MIX: 1. Product research = to evaluate new products or adapt old products = concept testing: new product idea to judge acceptance and feasibility of concept = product testing: reveals strengths and weaknesses and performs better than competition = brand name evaluation: is name appropriate...
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...Marketing Research Paper MKT/421 Marketing Research Paper Kudler Fine Foods is a local upscale food store in San Diego metropolitan area and has three locations in LaJolla, Del Mar, and Encinitas. Kathy Kudler was the founder of Kudler Fine Foods and started the first location in June 1998. Each store is approximately 8,000 square feet and offers products ranging in bakery and pastry products, fresh produce, fresh meat and seafood, condiments and packaged foods, cheese and specialty dairy products, and wine. The company mission is to offer each customer a delightful and pleasing shopping outing. The staff is helpful and knowledgeable and will go to extensive lengths to ensure that Kudler Fine Foods is the purveyor of choice for customers aspiring to purchase the finest delights. Kudler Fine Foods shops around the world to offer fines foods with reasonable budgets for consumers. Kudler Fine Foods will continue to be successful by understanding the importance of market research, identifying areas where additional market research is needed, and analyzing the importance of competitive intelligence and analysis regarding the development of the company’s marketing strategy and tactics. Importance of Marketing Research The importance of marketing research is a process to define a marketing problem and opportunity to resolve the issue. Marketing research systematically collects and analyzes data, and recommends actions to the organization. The purpose for marketers is to help...
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...MARKETING FOR HEALTH CARE INTRODUCTION Various concepts like target market, market segmentation, SWOT analysis, market research etc, constitutes Marketing for Health Care. Marketer should generally understand all the concepts related to marketing which helps in reaching the objectives in the given period. As health care industry should be dealt cautiously, market research is highly essential with the above mentioned concepts incorporated in the research. BETTER UNDERSTANDING OF CONCEPTS Market segmentation is crucial in marketing as it deals with the segmentation of the market depending on the groups and targeting the audience for desired results. These different groups are categorized under different categories and then the target market is considered. Research is the important concept for any industry as it includes gathering of information of the desired area. The data which is collected is then analyzed and scrutinized after which segmentation takes place. This should be done in a way which is fulfilled according to the needs and objectives of the organization. Hence, an action plan is prepared in which the plan is incorporated and the results are reviewed after the implementation of the plan in to organization. Market research is vital in any organization as it determines the types of methods and the steps involved in the research. Among all the concepts, SWOT analysis is the best as it does both internal and external analysis to determine strengths, weakness, threats...
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