Trader Joes - 839 Words

Case 1: Trader Joe’s Distinctive Approach Questions: 1. What retail classification best fits Trader Joe’s store-based strategy mix? Explain your answer. With the exception of the fact that Trader Joe’s is a food retailer, this type of store can be classified as a category specialist. By definition, category specialists sell a narrow variety but deep assortment of products. As compared to the 25,000 products a typical supermarket sells, Trader Joe’s selling an average number of 3,000 product lines can be regarded as very narrow. The store sells an extensive assortment of organic foods, which cannot be competed with by a regular supermarket. It can be classified as a category specialist for the instance that they also provide†¦show more content†¦It sells unique products from different countries which is attractive to people. With that strategy that is difficult for competitors to copy, Trader Joe’s can boost their sales as because it is the only store that can sell such assortment. 3. How can a traditional supermarket effectively compete against Trader Joe’s? Since Trader Joe’s is well known for their exceptional customer service, it would be useful for a competing supermarket to consider improving their customer service. The supermarket can take the steps necessary to help their employees enhance their knowledge about the store’s products so that they can answer customer queries quickly. Also, unlike most Trader Joe’s stores which are smaller in space, a supermarket can carry more types of goods. It would be beneficial for competing supermarkets to expand to a new market segment of health conscious people and have a section of organic products. In addition, a traditional supermarket can also offer a wider variety of private label products. In that way the store can achieve greater store loyalty while reducing costs (they buy in bigger bulk). They are also advantageous for having the benefit of one stop shopping with a wide assortment of goods that many people like to take advantage of. Lastly, being bigger in size, it is necessary for them to allocate more money for advertising, thus getting their name in more places. 4. How can Trader Joe’s mostShow MoreRelatedAldi And Trader Joes1075 Words   |  5 Pagestheir groceries. With many grocery stores spread throughout the regional area offering good merchandise and competitive prices there are two chains that are frequented, Aldi’s and Trader Joe’s. Both of these companies share the same parent company, Albrecht Brothers, and have stores nationwide. Both Aldi and Trader Joe’s are owned by one company; however, they share commonalities and differences. I first started shopping at Aldi with my mom when I was a little girl. I didn’t know it at the time, butRead MoreTrader Joes Analysis Essay1407 Words   |  6 PagesTrader Joe’s Trader Joe’s: A Quiet, Private, and Savvy Retailer Thomas Pinnola Strategic Management Professor Backhaus March 17th 2013 Thomas Pinnola Professor Backhaus Writing Assignment 2 March 17th 2013 Trader Joe’s: A Quiet, Private, and Savvy Retailer Joe Coulombe started Trader Joe’s in 1967. Traded Joe’s can be characterized as a low cost, high quality grocery store. Eighty percent private label productRead MoreTrader Joes Problem Analysis1506 Words   |  7 PagesTrader Joe’s Problem Undeniably Trader Joe’s has had admirable success in pioneering a new style of grocery shopping which involves low prices for new exotic food. It modified the way traditional grocery stores practice business. For example, stocking only what it sells and sourcing products directly from manufacturers; therefore cutting out middlemen, ultimately, revolutionized distribution. In 2013, Trader Joe’s was ranked among the best supermarkets in the country (Ager Roberto, 2014). ConsumersRead MoreTrader Joes Marketing Model1099 Words   |  5 PagesIntroduction Founded in 1958 by Joe Coulombe and now established with more than 365 stores in the United States, Trader Joe s has been serving customers with their unique business model. Trader Joe s specializes in organic and natural food offering staples like milk, eggs, and other foods with below-average price points. Trader Joe’s encourage their customers to buy the product at a low price without having to be registered with the store. Once the company makes contacts with the manufacturerRead MoreTrader Joes Case Study816 Words   |  4 PagesCase Study: Trader Joe’s In 1958, Trader Joe’s first began as a small convenience store named Pronto Markets. Trader Joe’s didn’t receive their Trader Joe’s name until 1967 when they opened up a store in Pasadena. Mr. Coulombe had transferred his stores into an oasis of value and started putting innovative, hard-to-find foods in the Trader Joe’s name. By doing this Trader Joe’s was able to cut costs and save you money. In 1979, Mr. Coulombe sold the Trader Joe’s chain to the Albrecht’s, ownRead MoreTrader Joes Case Study3261 Words   |  14 PagesTrader Joe’s is a privately owned American specialty grocery store chain that specializes in private labeling and providing a unique and fun shopping experience for their customers. The chain comes from humble beginnings as a convenience store in southern California. Joe Coulombe founded the first store in 1958, but at that time it was called Pronto Markets and it was a convenience store in the grea ter Los Angeles area. In 1967, the name was changed to what we know it as today by Joe himself. ThisRead MoreTrader Joes Unique Business Strategy1551 Words   |  7 Pages This research paper exhibits Trader Joe’s unique business strategy in the management skills that has built a chain of grocery markets, and the understanding of Trader Joe’s business model in planning, organizing, leading, and controlling. According to the MGMT8 textbook â€Å"planning is determining organizational goals and means for achieving them, organizing is creating structures and work systems, leading is inspiring and motivating people to work hard to achieve goals, and controlling is monitoringRead MoreEssay on Trader Joes Case Analysis1830 Words   |  8 Pages------------------------------------------------- UGBA 115: Competitive Strategy Trader Joe’s Midterm Case Analysis ------------------------------------------------- Jean Carlo Hoyos The Industry The grocery industry in the United States is currently an attractive industry (a.k.a. profitable). This attractiveness derives from the relative low threat of new entrants, low supplier and buyer powers, and low threat of substitutes. The main factors driving these results are the lowRead MoreThe Work Ethic And Value Of Trader Joes As A Company1723 Words   |  7 Pagesis intended to explore the work ethic and value of Trader Joe’s as a company and their employees. Hands-on top managers have always been insistent in the company. Now, CEO Dan Bane created the values to reflect on the original traditions of its founder. When reading through the accomplishments of this grocery store, I was pleasantly surprised that they have managed to keep their integrity during their growth. Being a customer at Trader Joe’s myself, I find myself thinking about all the good experiencesRead MoreTrader Joes: Motivation, Management, Leadership Development1687 Words   |  7 PagesTrad er Joe’s (MMLD): Motivation, Management, Leadership Development Trader Joe’s is a major food retailer who has developed quite the name for themselves. It has well over 350 stores in over 32 states and is expected to continually grow over the next few years (Bond, 2012). For over 50 years, Trader Joe’s has been providing quality customer services, products and a unique shopping experience for its customers. They have come a very long way from when they first officially opened their doors