Trader Joe's Essay
Case Study “Trader Joe’s”
Unit 3 Assignment
Starting a Business
AB207-01
Samantha Powell
Case Study “Trader Joe’s” Joe Coulombe was the head of division of a small chain of convenience stores when his former boss decided to retire from the business instead of sticking around when new competition came along (Abrams, 2012). One strategic way to compete with competition is to target a specific group of consumers and really getting to know them to create a business just for that specific group of consumers. This is exactly what Joe did. His chain of convenience stores was called Trader Joe’s and they started by targeting consumers and communities that enjoyed going to a small grocery store with low prices, the best product, offered a …show more content…
Trader Joe’s now has over 400 stores and is currently still expanding. As they continue to expand I believe that Trader Joe’s will still be aiming at a narrow market segment because that is how the company became so huge. Trader Joe’s will always be considered as a special company because that’s how they make their customers feel. Even on their website there is a place to give them your feedback or any ideas about their product along with a lot of other great things. As well as Trader Joes is doing I don’t really see them losing sight of their narrow market …show more content…
Three target markets that makes sense in order to have a successful business would be small single owned companies, individuals that own a lot of real state that work for themselves, and small corporations that are trying to expand. The way I can be different from my competitors is to put my customers first and loyalty. First and for most, trust is something I got to have when messing with financial paperwork pertaining one’s business. Second, most people may think that their accountant is putting their business first when they are only looking out for themselves. Some accountants just care about getting the job done and getting their money. I want my business to stand out. I want to be able to make a difference and help my customers expand their company. The more I increase my customers business or businesses, the more I will expand my
Unit 3 Assignment
Starting a Business
AB207-01
Samantha Powell
Case Study “Trader Joe’s” Joe Coulombe was the head of division of a small chain of convenience stores when his former boss decided to retire from the business instead of sticking around when new competition came along (Abrams, 2012). One strategic way to compete with competition is to target a specific group of consumers and really getting to know them to create a business just for that specific group of consumers. This is exactly what Joe did. His chain of convenience stores was called Trader Joe’s and they started by targeting consumers and communities that enjoyed going to a small grocery store with low prices, the best product, offered a …show more content…
Trader Joe’s now has over 400 stores and is currently still expanding. As they continue to expand I believe that Trader Joe’s will still be aiming at a narrow market segment because that is how the company became so huge. Trader Joe’s will always be considered as a special company because that’s how they make their customers feel. Even on their website there is a place to give them your feedback or any ideas about their product along with a lot of other great things. As well as Trader Joes is doing I don’t really see them losing sight of their narrow market …show more content…
Three target markets that makes sense in order to have a successful business would be small single owned companies, individuals that own a lot of real state that work for themselves, and small corporations that are trying to expand. The way I can be different from my competitors is to put my customers first and loyalty. First and for most, trust is something I got to have when messing with financial paperwork pertaining one’s business. Second, most people may think that their accountant is putting their business first when they are only looking out for themselves. Some accountants just care about getting the job done and getting their money. I want my business to stand out. I want to be able to make a difference and help my customers expand their company. The more I increase my customers business or businesses, the more I will expand my