Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011).
Now, marketing research, on the other hand is just as important, just as effective and the results are just as significant to the success of a company. Creating a marketing strategy is just as important as business creating a business plan. In order to develop your strategy for your business it does require some form of research (Stein, 2009). After all, how could a company, not matter how big or small, know how to put their product or service on the market without researching what the market is looking for to begin with?
Kudler Fine Food’s marketing strategy reaches out first to the senses by describing their delicious food and spirits; it targets an audience that would prefer finer foods as well as their locations. Kudler describes each of its three locations and points out that they are spacious and located in fashionable shopping areas. Kudler not only details what they sell, but who they are, what their mission is and what their history is. In my opinion, a company that is so open to the public about itself is using a remarkable marketing strategy.
I must say that I am a visual person and while seeing the pictures that Kudler offers on their web-site, their lyrical description of the foods they offer makes me wish that this was a real place! For this reason, I believe that visual marketing is the most powerful and effective marketing tool ever created. The bakery, meats and seafood, produce, cheese and wine are so much easier to sell when they are visually mouthwatering to the consumer! The most interesting tactic that I am aware of on the Kudler Fine Food’s ite is the survey. I personally think this is a great (as well as free) way to obtain feedback on their stores and learn how to improve them in an effort to meet their customer’s needs; not the needs of their own. It aids Kudler in learning what and where their strength and weaknesses are simply by offering a one minute survey for customers that have visited their store to do. Of course, no web-site is perfect; they each have room for growth.
On the Kudler Fine Food’s web-site, in my opinion, the area that could use additional market research is the specific types of foods that the consumer is in the market for. The web-site lists the different types of food that they sell, of course, but if they went a little further and offered additional market research that informed the visitors of the web-site as well as the store what products they they sell are good for you and in what way, I think the web-site would be much more beneficial to the consumer.
This would be especially effective in a time where people are so careful about eating healthy foods and stores that help them find those foods. According to McGonagle, “Competitive intelligence is the selection, collection, interpretation and distribution of publicly-held information that has strategic importance, it is the analytical process that transforms disaggregated competitor intelligence into relevant, accurate and usable strategic knowledge about competitors, position, performance, capabilities and intentions, a way of thinking.
It uses public sources to locate and develop information on competition and competitors and it is highly specific and timely information about a corporation” (2009). This relates to the Kudler Fine Food’s marketing strategy because Kudler uses its selection, collection, interpretation and distribution of publicly-held information about not only themselves, but about the products the sell. I can say that I have not really been able to locate any company that Kudler is competitive with on their web-site but I do notice that their selection can be considered competitive in any market.
The way in which Kudler describes their position, performance, capabilities and intentions is very relative to a marketing strategy because they are not hiding behind any veils or doors about whom they are or who they portray what they are about. The importance of competitive intelligence and analysis in regards to the development of Kudler Fine Food’s tactics offers the consumer the opportunity to tell them what they do or don’t like, which store they have hopped in, how the learned about Kudler Fine Food’s, and why they shopped there and why they will shop there again. Any tactic a business can use in analyzing their own web-site through the eyes of their customer is a very strong use of competitive intelligence. Kudler Fine Food’s also utilizes the tactic of visual aids which entice the consumer even more. The competitive intelligence used in this tactic is by making their food look better than that of their competitors.
It is their attention to detail and the responsibility they take in creating and selling food’s that are affordable, healthy and accessible to their customer. Doing research can involve finding out who else is in the niche, how they are advertising, what keywords they are targeting, where they are advertising, and many other factors. This does not mean that you follow your competition or stalk them because you very well could be wasting a great deal of time doing this (Stein, 2009). Kudler uses the wording ‘Finest Foods’.
Now while there is no way to prove that their food is the finest available, they believe that it is. That is the greatest strength in marketing research in the development of Kudler Fine Food’s; believing that your company and your product is the best on the market. Every company has something different to offer the consumer. Whether it be a product: cosmetic, mechanical, clothing or a service, the best way to market yourself and your product is by believing in the product or service.
Ash, T. (2011). Why marketing is important to your business. Retrieved May 17, 2011 from http://www.articlesbase.com/viral-marketing-articles/why-marketing-is-important-to-your-business-410123.html
McGonagle, J. (2009). An overview of competitive intelligence. Retrieved May 17, 2011 from http://www.combsinc.com/chapt1.htm
Stein, J. (2009). Why is marketing research important to developing marketing strategy. Retrieved May 17, 2011 from http://www.articlesproductions.com/f77/why-marketing-research-important-developing-marketing-strategy-1006/
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