Trader Joe’s is performing well in terms of the grocery industry as a whole. That’s why I think they should change and improve the strategy a little to fit the 21st century marketing in order to continue its growth. Trader Joe’s should stay ahead of its competitors by offering organic, natural, and healthy food choices at the best prices. Also they should manage differently with others such as it own packaging, distribution and advertising costs and pays the suppliers cash on time, which creates competitive advantages that are difficult to imitate.
These can fit the new economy situation in differentiation and personalization. I strongly advised that they consider offering an online shopping service, which might capture more market shares and reduce costs. Online shopping service will go with the delivery service where it will increase the market share for customer convenience. They have to improve and implement the delivery service in more of their stores across the country, more specifically at their inner-city locations. It is important to focus on customer retention and growth in the new economy. This E-Commerce affects the falling prices and procurement costs.
Moreover, they can measure customer satisfaction and get feedback through the online service. It will require marketers to communicate with ever-smaller audiences, to understand their needs, to seek profitable relationships with preferred customers and business partners, and to find new ways to build brand. To reduce time waiting in line for the customer, and reduces labor costs for the company, I think it is good idea to make self-checkout stations, where the customer can easily check themselves out. For the global market, Trader Joe’s should expand their chain across the country.
It gives their customers the best food and beverage values they can find from around the world and to provide them with relevant information to make informed buying decisions. I want Trader Joe’s to keep concentrated on the targeted consumers who prefer to buy healthy and environmentally-friendly food, due to the growing amount of health-consciousness and well educated consumers. If Trader Joe’s keeps offering distinctly unique products at a low price with my marketing strategy, they will keep the world title for a long time ”The most popular neighborhood grocery store”.