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Mod 2-1 Consulting Report Trader Joes.docx - Successful...

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Successful businesses all have one thing in common, a goal or vision of what they want thebusiness to be and a plan of how to achieve this. Trader Joe’s is no different, their strategic long-termplan is to be the cool edge of the food retailer’s market, giving exotic choices that other stores don’thave but at prices that are enticing to customers.[ CITATION JrJ20 \l 1033 ] In a market where they mustcompete with the low-end and the big chain food stores, they have found their competitive edge.Trader Joes achieves this by implementing several tactical plans which give them an edge againsttheir competition, these include a facilities plan, logistics plan, and marketing plan. Their facilities plan isunique, the focus is on a limited stock of quality goods at low prices. This is important because TraderJoes can sell “about twice as much per square foot than other supermarkets,” [ CITATION JrJ20 \l 1033 ]making each square foot of space more valuable in creating revenue for the company. The logistics planis 2 simple steps, searching and procuring interesting and exotic foods from around the world andworking directly with the manufacturers in that procurement[ CITATION JrJ20 \l 1033 ]. This is importantbecause removing a distributor between the business and the manufacturer will create an openness ofcommunication which can lead to a mutually beneficial partnership.[ CITATION Lev18 \l 1033 ] Themarketing plan directly ties into the logistics plan regarding the house brand and the competitive shelf

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Term
Fall
Professor
MBA FACULTY
Tags
Marketing, Trader Joe

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