Market Research

During the third stage, Kudler Fine Foods will try to obtain problem specific information regarding their growth. During this process, the researcher attempts to learn what consumers think or how they will act regarding a specific topic. In relation to Kudler Fine Foods, obtaining primary information from marketing research may include a survey of potential customers within potential growth areas. It would not be in Kathy' best interests to expand her business into an area where consumer demands are very low. Utilizing surveys would provide an idea of potential customer perception of a gourmet food shop within their community. The survey would ask specific questions which weigh customer feelings toward a local gourmet food store. Surveys can be administered via personal communication, email, mail, or phone, and would gain information within a population sample.

Step four involves decoding or interpreting the information gathered during the data acquisition phase. During this stage, Kathy and her marketing team can use statistics to draw conclusions from the population sample. The data break down during this stage will signify the customer impression of a gourmet food store within a specific area. It will also help determine the viability of opening another shop within a specific area.

Step five in the marketing research process is solving the problem. "In the problem solution step, managers use the research results to make marketing decisions. Some researchers, and some managers, are fascinated by the interesting tidbits of information that come from the research process. They are excited if the research reveals something they didn't know before. But if research doesn't have action implications, it has little value and suggests poor planning by the researcher and the manager (William D. Perreault, 2009)." During this stage Kathy Kudler and her company will make the final decision of whether and where to expand into a new store based on their marketing research.