*Help me come up with a good implementation plan based on problem with good control and feedback for this business case I am writing on Trader Joe's grocery Store.

Introduction

The disadvantage to everyday-low-pricing will be prices cannot increase or drop for a long period of time; therefore, loosing profits might be possible due to changes in customer demands, customer view of the company and competitors prices, and revenue will relatively be the same through out. Not maintaining a substantial inventory count to meet customer demands can be problematic for retail shop Trader Joes. As well, little inventory is another leading issue that can cause loss of profits.

Problem Statement

Trader Joes overall strategy should not be built on just penetration pricing (or as the case describes: everyday-low-pricing) and value proposition but should develop strategies and plans to implement other pricing concepts and strategies as well as marketing and selling concepts in addition to create a successful global specialty grocery store company and a more profitable business-to-customer relationship.

Internal and External Data Analysis

The grocery store, Trader Joes strengths, weaknesses, opportunities, and threats; (1) weaknesses are inventory control, products (food) that adheres to customer satisfaction, insufficient customer data, different marketing and pricing approach, etc., (2) strengths business-to-customer relationship (demonstrated by excellent customer service), pricing, value proposition and brand, business-to-customer relationship, (3) opportunities untapped target customers who love grocery shopping, the stores unique products from it 4,000 inventory merchandises including stores branded and labelled unique products, monopolizing grocery store industry markets locally and internationally, pricing and marketing advantage over competitors, environmental, societal, and economical partnerships for good causes, opportunities, and business growth related activities, and technological changes in grocery store industry, and (4) threats such as competitors (utilizing same pricing and value strategy), Adam Smith invincible hand (the companys competitor doing all business activities and becoming more successful in grocery store industry), technological changes that require the company to adapt and utilize such changes to its advantage, and economical changes (federal rules, barriers to entry for international expansion.)

Recommendation Solution

• For the company to accomplish profitable and marketable products locally and globally, it is mandatory that the company implement these business strategies; management team to track business-to-customer functions, logistics functions of inventory management, product line pricing, and product promotion concepts.
• Trader Joes must re-position its product on high-performance quality so its sensitive customers see more value in their products and allows the grocery store to raise prices away from everyday low pricing and market penetration pricing to cover other expenses by using other several product mix pricing strategies in this order; (1) value (adding value to generate profit), psychological, and target pricing (markup on competitor price and cost-based pricing to offset costs), and (2) high-low pricing, skimming pricing, and selling concept on Trader Joes merchandises.

Implementation

Trader Joes grocery store managers and supervisors should conduct product sampling and surveys on only relevant customers (regular shoppers who love the brand and the stores foods and are willing to create a joint relationship with the store) by first identifying on an online questionnaire who visits frequently followed by the category of products they like. Then the grocery store can begin selling directly to its target market consumers. The store can conduct the first survey online and second one through direct contact between supervised employees and customers who have already registered themselves online on the first survey conducted. This should only take about three months and should pave the path in an efficient way for the company to get quick and relevant data directly from customers. In-store surveys using technology and flyers also give the store additional promotional and operational benefits that would otherwise be costly.

So far, Trader Joes strategy of penetration pricing to attract new customers from competitors, and keep its regular customers, and have everyday customers engaged and wanting more has been successful, but the company should take the next step by utilizing high-low pricing and skimping pricing on their products and services to lower sales costs; therefore, lowering sales volume; therefore, the stores can maintain little inventory and still bring in profits. after attracting customers using