Introduction
Trader Joe’s is considered to be among the best supermarkets in a study conducted to rank the best universities in the USA, according to the response by the six thousand interviewed Americans. Trader Joe’s grew from a small branched chained of the Rexall, in the year 1967. The business ideology was based on learning and education (Ager & Roberto, 2014).
Trader Joe’s Strategy
Trader Joe’s strategy bases its principles on academics. The business aimed at providing the commodities that other companies were not offering. The market also targeted offering goods to customers at a fair and bargainable price. The firm adopted what later came to be known as the Fearless Flyer”, which was a strategy of embracing a daily low price, unlike the typical situation where promotions and sales offers would be carried out (Ager & Roberto, 2014).
Trader Joe’s was able to apply the basic rules that are core for the development of any business. These strategies included the strengthening of the leadership positions for everyone. The company also embraced the strategy of creating the customer focused strategies, which basically where there was the building of organizational capabilities as well as the performance management analysis (Liabotis, 2007).
Strategic Growth Recommendations for Trader Joe’s
There were various strategic recommendations for Trader Joe’s. Some of these strategies the business had adopted such as the competitiveness of the firm. Other plans that the industry passed included the market analysis for entry threats, the power of its unique supplies, the power that the buyers possessed especially the intellects as well as the market analysis on the possible substitutes that would push his output out of the market (Rodrigo, 2012).
The business would otherwise adopt some strategies that would enable it to have a maximized produce and sales. The policies adopted would also act to enable the company to have a much stronger business positions. Some of these strategies include a clear and definite analysis of the existing business structures, the best portfolio performance, the best strategic and marketing analysis techniques, the real operations as well as the strategic responsiveness of the firm operations towards the achievement of the set goals (Report Buyer, 2014).
Conclusion
Trader Joe’s has been in the front-line in the creation of business opportunities for people as well as the creation of the environment where buyers can have the goods of their taste, without the fear of prices or even intimidation. Trader Joe’s has been able to embrace the best business strategies that have kept it moving for the longest period. The business has been able to embrace some of the core business principles of growth, cardinal direction, and positioning, stability, and retrenchment (Miller, 2015).
References
Ager, L.D., and Roberto, A.M., (2014), Trader Joe’s, Harvard Business School
Liabotis, B., (2007), Three Strategies for Achieving and Sustaining Growth, Richard Ivey School of Business Foundation, Retrieved from http://iveybusinessjournal.com/publication/three-strategies-for-achieving-and-sustaining-growth/
Miller, P.S., (2015), Directional Strategies in the Development of Strategy for a Healthcare Organization, Demand Media, retrieved from http://smallbusiness.chron.com/directional-strategies-development-strategy-healthcare-organization-81073.html
Report Buyer, (2014), Strategic Factor Analysis Summary (SFAS) Framework Analysis - 2015 - Europe's 7 Leading Aerospace & Defense Companies, retrieved from http://www.prnewswire.com/news-releases/strategic-factor-analysis-summary-sfas-framework-analysis---2015---europes-7-leading-aerospace--defense-companies---airbus-group-bae-systems-finmeccanica-rolls-royce-safran-dassault-thales-281013552.html
Rodrigo, (2012), Strategic Analysis of Marks and Spencer’s Plc. (M&S), Retrieved from http://writepass.com/journal/2012/12/ms-and-modifies-its-business-strategies/
