Marketing AssignmentKathy Kudler opened the first Kudler Fine Foods (KFF) store in 1998. After sourcing fine food ingredients, store to store, Kathy realized she could combine his love of gourmet cuisine into a unique shopping experience with his marketing expertise to address other people's culinary passions. Three outlets now operate in California and Kathy recently contracted with organic growers to provide her customers with locally grown organic produce and decided to further expand KFF by adding a catering business. The rapid growth of KFF over the last 10 years and the catering opportunities will increase impact KFF immensely. Kathy will need to carefully evaluate marketing methods for launching the new restaurant business, evaluate the relative value of market research, and identify the components of the marketing mix for KFF's new restaurant service (product, place, price, promotion). You will need to determine the products KFF should offer and how the company will determine its pricing structure compared to other catering companies in the area. In terms of food service, the location of the term will be explained. Kathy will decide how KFF will promote the catering service and how KFF's target market will influence the use of technology. If Kathy decides to launch the catering service, she will have to decide how her decision will fit with the recent hiring of organic growers and how the decision will affect KFF's success. Relative Value of Market Research KKF must understand 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 identifying opportunities for the company. Gather and analyze information that benefits the company so that the feedback makes necessary changes and improves the company (Berkowitz, Hartley & Kerin, 2006). Before adding a restaurant business, KFF must determine the risks and opportunities of adding such a service. Market research is used to determine the risks the company will encounter, the unknowns that may affect the business, and to improve the decisions made by the marketing department (Berkowitz, Hartley & Kerin, 2006). By using the market research tool, KFF will be able to incorporate sound business decisions and changes into the sales plan. When evaluating the risks and opportunities of their plan to commercialize a restaurant business, KKF should include the realities of local restaurant businesses to determine whether they will maintain their competitive advantage. Looking at the potential customer base and how customers will use catering services will determine whether a catering service will be cost-effective.