The Trader Joes Marketing Plan Marketing Essay

Trader Joes is one of the most successful grocery store chains in USA. The brand started out as a small convenience store in Los Angeles and is continuing to grow to be one of the very most recognizable brands retailing organic and high quality products. The trademark difference between Trader Joe's using their competitions, especially Complete GROCERY STORE, is stocking and providing the product produced by Investor Joe's. By that, they have got responsibility on their product and they do not need to pay the fee to any makes, or third party companies, so they will keep the price at affordable for the customer.

It is undeniable that Trade Joe' is widely recognized as one of America's successful and reliable brands. However, due to the high cost of living, consumers today are watching their budget. Through this marketing plan, you want to make Trader Joe's a well-known supermarket in junior adult market not only by the high quality product but also by the affordable price to generate customers, also to successful in the new portion.

Introduction

The owner, Joe Coulombe, opened trader Joe's in 1958 in Pasadena, California. In those days, Trader Joe's were named Pronto Markets, the favorite convenience stores in those days. In the next decades, Trader Joe's broadened to locations throughout the United States. Trader Joe's recent annual earnings were projected to be $9. 5 billion in deal in fiscal 2012 (ends June), up about $1 billion from annually earlier. In order to create such a go back of profit, Trader Joe's has been using all methods to keep down bills, such as putting into action no service departments which may reduce booking costs.

Trader Joe's offers all sorts of food and non-food items and it is well-known for more than two thousands private-label products under its brand name, which counts for approximately 70% of the gross annual sale. Not merely selling daily consumed food such as freshly picked and organic and natural fruits and vegetables, bread, milk, juices, Investor Joe's also provides other frozen or ready-to-serve products. For example: spreads, premium cheese, frozen meats and other ethnic food which range from Italian, Hispanic to Chinese, Indian etc. Nonfood items can be found as well, such as Trade Joe's soap, vitamin supplements, creams. With alcohol selling permit, like other grocery stores, Trade Joe's also provides beer and wine. One of its most well-known selections is its wine beverages brand Charles Shaw, which is often called as "Two Buck Chuck", because of affordable price.

Nowadays, with almost 400 stores in the united states, Trade Joe's has made its company image as high quality food, a one-stop for any with packed with shopping efficiency and conveniences.

Marketing Analysis

TARGET MARKET Targeting at office professionals aged 18 to mid-40's with gross annual income around $35, 000 to $60, 000 as primary market; Trader Joe is looking at consumers who are in the middle stage with their life. Those would become more ecologically mindful about healthiness of the food they take in. This marketplace tends to eat locally and spends more on groceries. A lot of them are vegetarians and require their food to be gluten-free.

The above principal group is finalized as Trade Jose company adding two sub-groups when studying their target market. The first sub-group is young experts and the second one is the current target demographics of the growing multinational population and folks who tend to buy food from vending machines

Trade Joe's also projects to have a secondary marketplace of those blessed between the early on 1980s to early on 2000s. This generation is considered in the marketing plan because they're most likely eager to buy healthy and organic and natural products. Since this young population has been modified to nowadays fast-paced life, they may be more critical with time and demand more convenience.

CONSUMER/Community FACTOR On current activity, people prefer the organic and healthy food and they support local business, local farmer market. They willing going for unique or store brand instead of big brand names as long as it promote healthy products, ingredients, and ethical, renewable development process. In other palm, the customer now prepares for these people enough understanding of nutrition, so they are so picky on their choice. Moreover, due to the high living cost, the customer also watches their cover grocery.

COMPETITIVE FACTOR The principal competitor of Investor Joe's is Whole Food market.

Marketing Plan

Trader Joe's is successful in USA by their high quality product and good service. However, Investor Joe's needs specifically targeted marketing goals and strategies to be able to achieve concentrate on customer.

MARKETING OBJECTIVE From the marketing plan, Trader Joe's will reach their goal customer through social media. Moreover, this plan will help the business raise their recognition in new adult, from 18 to 33 years old market by thirty percent over six months period through social media and advertising.

MARKETING RESEARCH Trader Joe's does not use any sort of advertising form. The company uses their low profile in core school of thought; they eschew advertising agencies and television completely. Investor Joe's use their staff and customer assists as an ambassador of the brand, or using the "Word orally" strategy. Therefore, the business leans on the current customer repository and however, these are appealing to the new customer in a unaggressive way, especially the young adult who uses sociable mass media regularly.

PRICING For competitively with other competition, Trader Joe's must have a good costs strategy. This plan would keep their product at a competitive price but nonetheless have a quality of the merchandise. For a few product like grocery, base on the neighborhood farm, we may use the discount, or the sale to make the price less than competitors.

SALE Advertising For bringing in more customers, Trader Joe's would have weekly sale advertising waiting for you, and post in the Facebook or Twitter or do "The Fearless Flyer". The unique of the Fearless Flyer is in that flyer, Trader Joe's not only is composed the advertising of their in store campaign at that moment, but also include the formula, the tricks for cooking. Therefore, the customer when receive that flyer, they have a tendency to read a whole flyer and keep it if they think it useful.

PUBLIC RELATIONS Among the primaries of Investor Joe's, the complete Food Market is very good in public relationship. They contribute their food in the local food bank every week, and undoubtedly, they have the award and certificate for the good will. However, if Investor Joe's step in this charity, it might be late, and it doesn't help to improve the fame. THEREFORE I would recommend another plan, like support the after university program, the mature living or sponsor for a few organization like breast cancers, marathon 2K Our marketplace is a young ones adult, who cares about their environment and cultural. So if we keep doing this plan, I think that we will capture their attention and bring more customers to our store because they'll recognize that their extra cash would help them back by our program support for their children, their parent or their grandparents.

INTERNET/SOCIAL Press Our goal is the children adult, who was created in the technology 10 years, and the best way to capture their attention is using their own way. They using Facebook like the principal way to talk to each other. The very first thing is Trader Joe's have to start social media account. Then for appealing to they follow us on Facebook; Trader Joe should release any discount or special deal waiting for you and if indeed they want to get these coupons, they need to follow or "like" the enthusiast site. By that, we will have a admirer on social media, and for just about any update, any media from Trader Joe's, this group of fans would the first person who receive that reports and expand it. Moreover, Investor Joe website and admirer site can build awareness about its own brand by updating the public support, the new product, or any helpful information like formula and nutrition chart for the product.

Executing and Utilizing the Marketing Plan

BUDGET ALLOCATION

Trader joe's company. (2013). (). Austin, United States, Austin: Dun and Bradstreet, Inc. Retrieved from http://search. proquest. com/docview/230609054?accountid=10351

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