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Marketing Assignment
Kathy Kudler opened the first Kudler Fine Foods (KFF) store in 1998. After shopping for fine food ingredients, store to store, Kathy realized she could combine her love of gourmet cooking in a one-stop shopping experience with her marketing expertise to target other people’s culinary passions. Three store locations now operate in California and Kathy recently contracted with organic growers to provide her customers with locally grown organic produce, and has decided to expand KFF further by adding a catering business.
KFF's rapid growth over the last 10 years and the catering opportunities will affect KFF immensely. Kathy will need to evaluate carefully the marketing methods to launch the new catering business, assess the relative value of the market research, and identify the components of the marketing mix for KFF’s new catering service (product, place, price, promotion). She will need to determine the products KFF should offer and how the company will determine the price structure compared to other catering companies in the area. In terms of a catering service, term place will be explained. Kathy will decide how KFF will promote the catering service and how KFF’s target market affects the use of technology. If Kathy decides to launch the catering service, she will need to decide how her decision will mesh with the recent contracting of organic growers and how the decision will affect the success of KFF.
Relative Value of Market Research
KKF needs to realize the importance and value of performing market research, and the feedback the research will bring to the company. Market research is the process of defining marketing problems and to identify opportunities for the ...