Mkt421-Week3-Marketingresearchkudler (1) Essay

785 Words Dec 30th, 2014 4 Pages
Running head: MARKETING RESEARCH PAPER

Marketing Research Paper
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Marketing Research Paper – Kudler Fine Foods
Gathering reliable information is a crucial activity before the deployment of a rewarding marketing plan. Kudler Fine Foods is a specialty grocery store located in the San Diego Metropolitan area that focuses on high-end food products. The company hopes to expand its scope of operations and boost the loyalty of its customer base. In order to achieve these goals, the company will conduct marketing research to identify opportunities and threats that exist in the external environment (Staff 2012). Marketing research can be defined as the process of collecting custom data and competitive intelligence that will
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Competitive Intelligence and Analysis
The grocery store industry is notorious for being fiercely competitive and driving down the profit margins to the lowest possible level. Competitive intelligence is a marketing research topic the focuses on the threat posed by external competitors. As a premium store, Kudler Fine Foods can offer higher prices, but it must demonstrate additional value by offering exceptional customer service and a wide product selection. The average consumer in San Diego has many alternatives when it comes to food shopping – therefor it is essential that efforts be made to stand out from the competition and meet the demands of a specific niche. Understanding the types of products and the nature of advertisements being displayed by competitors will help Kudler Find Foods target a specific niche in the market. It is recommended that the company develop robust techniques for monitoring the activities of its closest competitors.
A potential tool that will help the company gather deep competitive intelligence is Radain6 Social Media Monitoring Platform. This is a tool that allows a company to manage its social media accounts and also monitor the activities of its competitors (Kelly 2011). The company can use this tool to gather value information related to the trends of its competitors and forecast

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