Universidad de Monterrey
1. What do you believe is the secret of Trader Joe's success?
In the first beginning it’s obvious why of Trader Joe’s success, “Mostimportantly, we started putting innovative, hard-to-find, great-tasting foods in the "Trader Joe's" name. That cut our costs and saved you money. Still does.” (Trader Joe's, n.d.), and that’s the big reason;this company made something that wasn’t thought before by retailers, putting something that actually sells something different and unique, but also by the important fact that Trader Joe’s doesn’tdirects his attention to the market, but to the market of the market, this because of the different niche that perfectly complements and helps the success of this company: no gluten, vegan, vegetarian, fatfree, quick meal, kosher, sodium, this are the niche that can be seen in the company’s webpage, which obviously increase company’s value.
Obviously the environment that is felt up in the stores isalso important, no one wants to buy in a place where every employee is mad with the world and have such an attitude that you probably lost the interest of buying something, here, the environment, turnsto be something very important to maintain, giving a comfortable welcome and a thankful goodbye, this can be seen also in their webpage: “10. Why is everyone so happy and positive here? Do they putsomething in the water?” (Trader Joe's, n.d.), it’s obvious that they keep working hard in this point.
At the end the combination of an excellent environment, the unique and fresh products, and the sowell done marketing segmentation lead Trader Joe’s to something that wasn’t even explore or thought about before.
2. How do they keep the prices so low (compared to Whole Foods)?
Just by followingsimple tactics:
* They discontinue items that don’t become strong sellers, by this way they avoid increasing selling prices.
* They searched for locally source in every state they got a...
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