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Kudler Fine Foods adding on a catering service
Kudler Fine Foods is looking to expand into the catering business. This expansion will take some resources to get this part of the business. The company needs to assess its current position in the market to be able to support the stress on the business as they develop their service. How will they need to understand their marketing mix of product, place, price and promotion? Will the new service of catering need to provide an adequate pricing structure so that it will be able to compete in the market without putting a financial drain on the whole company? The company will also need to market effectively to promote the new service offered. How will the do this and will the target market affect the use of technology? Will there be a market advantage in using local organic growers. The company will need to consider all the factors involved and more as they expand into the catering service.
The assessment of market research
Market research is the gathering, recording and analyzing information regarding the customer, competitor and the market in general. The information acquired is used to help companies to develop a business plan, introduce new products or to fine tune existing product and services or to spread out into new markets(Market research, 2007). The Kudler Company surveyed their customers in 2005 and 2006 to see how the company was performing. The survey results could be divided up into three different areas of performance, the company stores, the product being sold and the service of the employees. Table 1 summarizes the results of the survey. The company's strength lies in their physical facilities. This includes their store's hours and atmosphere. The company's weakest aspects lie in their products or merchandise. The question that especially stands out is the customer's value of the merchandise for the... [continues]
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