Question: What did you learn from your Trader Joe's case analyses that you can apply to the Amazon company? What context differences are important between the
- What did you learn from your Trader Joe's case analyses that you can apply to the Amazon company?
- What context differences are important between the case example and Amazon? What assumptions do you need to make in order to use the concepts appropriately?
- Given Amazon, what concepts, tools, and readings from other resources are most relevant to helping guide how you might recommend improving Amazon? Why and how are they relevant?
Reference - Trader Joe's.com, case analyses.
Companies like Trader Joe's face competition and need to survive and make a profit. For instance, Trader Joe's needs to update its business plan and operation to stay competitive and adapt to changes while maintaining its exclusivity and customer base. The company created an exclusivity identity that differentiated it from existing and new rivals.
Trader Joe's technology is only used for scanners to check customers out. Still, it has an opportunity to expand technology and develop a robust social media platform to market its products. Younger employees and potential customers may expect and demand technology. For instance, the company should establish a department that oversees social media. Also, it should increase its market research to determine the viability of the technology and social media (Reeves & Deimler, 2011). Trader Joe's has an opportunity to use a cost-benefit analysis to assess the feasibility of changes.
Moreover, Trader Joe's should enhance its skills, competencies, and capabilities to stay competitive and flourish in the industry. For instance, it should boost the management of employees, adopt technology, and implement a social media platform. It should also develop exploratory panel to assess what changes it needs to make. Still, internal, and external stakeholders must be informed of the proposed changes (Zenger, 2013). To implement changes, Trader Joe's needs the buy-in of the employees to execute the changes long-term and profitably.
Employees and customers use technology such as iPhones, IPads, and other tables and may expect access to technology in the store or the workplace. For instance, younger and potential customers may wish to find technology in the stores, thus anticipating using technology when shopping and comparing prices or products. The use of technology starts at a young age and is increasingly a part of commerce, and the expectation it is a way of differentiating successful companies. For example, generations Z and millennials desire a partnership-based relationship and collaboration and reject a supervisory-employee affiliation. This worldview changes how employees and customers interact and conduct commerce. For this reason, engaging and informing all employees of the proposed technological changes is crucial and advantageous for the company (Bungay, 2011). The management of Trader Joe's should understand the demands of its customers and attempt to fill in the gaps in its operating procedures to reach and increase its market share.
Communication is a crucial part of every company. As discussed above, Trader Joe's has an essential role in the social media space. For instance, social media platforms can utilize their uniqueness and not just rely on a fan-based approach. It has an opportunity to engage and reach customers and gain followers who may share products with acquittances. It should establish an in-house social media team and managers to control messaging, branding, and customer connections to accomplish this plan (Aeger & Roberto, 2014). Moreover, it would be manageable and more controlled if the company relied on an in-house social media team and not only on fan-based marketing or various uncontrolled social media accounts. In addition, Trader Joe's employees can be recruited to help with social media while managing customer relationships.
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