Marketinf At Kudler Foods

Marketing at Kudler Fine Foods

Richard A Forbes

University of Phoenix

MBA/502 - Managing the Business Enterprise

Courtney M. Williams, MSM

November 5, 2006

Introduction

Marketing is not an option. It is a necessity (Forsyth, 2004). The definition of marketing as stated by the American Marketing Association and further described in the text by Kerin et al. is an organizational function and a set of processes for producing, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (Kerin et al., pg 8, 2005). Kudler Fine Foods has decided to explore new services which they might offer to their customers. This paper will first assess the comparative value of the market research Kudler currently possesses. Next the paper will explain the components of the marketing mix for Kudler's new catering service. The paper will then explain how Kudler should determine the products it wants to offer. An explanation of how Kudler should determine what its pricing should be relative to other catering companies will follow. Lastly the paper will explore, in terms of a catering service, what the term place means.

Market Research

Market research is very similar to the nine-step problem solving model. Market research in most cases will always lead to some type of change. Change in any organization is one of the most difficult things to accomplish (McNamara, C., 2004). Market research helps to study the marketing changes an organization needs to accomplish. According to Kerin et al. marketing research is a process of defining a marketing problem and opportunity then systematically collecting and analyzing information and recommending actions (Kerin, et al., pg 205, 2005). Marketing research is intended to define a number of things. It is intended to define the problem, much like a problem statement in the nine-step model. It is also expected to show an organization its opportunities and to generate and improve marketing actions (Kerin, et al, 2005). Currently Kudler Fine Foods does not have any marketing research data or plans on their intranet. They do have a marketing overview explaining Kudler Fine Food's initiatives to meet their strategic objective which is to increase loyalty and profitability. There is also a sales plan for 2006 and market surveys from 2003 and 2004. None of these items are market research reports. The survey is old and shows over half of Kudler Fine Foods customers in years 2003 and 2004 believe the merchandise sold at Kudler Fine Foods is not a good value for the money. Although overall the customers reported they were very satisfied, the problem Kudler Fine Foods needs to address is why half of the customers disagree the merchandise is a good value.

The Marketing Components

Kudler Fine Foods catering service is no different from any other service offered to Kudler Fine Foods customers. There are four components associated with any service. Those four components according to Kerin and associates are called the four P's. These are shown below as listed and defined in the text (Kerin et al, pg 206, 2005).

* Product. A good, service, or idea to satisfy the consumer's needs.

* Price. What is exchanged for the product.

* Promotion. The means of communication between the seller and buyer.

* Place. A means of getting the product into the consumer's hands.

Kudler Fine Foods has determined the product will be a new catering service however there is not enough market research to neither decide on a price nor begin to promote the service.

Product determination

A product