Trader Joe’s is a food retailer that is known across the world. The store was introduced in the 1950’s and started off as a typical convenience store. The original stores were all names Pronto Markets. After about 15 years, the founder of Trader Joe’s, (Joe Coulombe) changed both the name of the store and created a new way of doing things. The new store now not only has a new physical appearance; but has new morals and values. There are many different food retailers across the world; Target, Walmart, and Whole Foods are just a few. Trader Joe’s have over four hundred stores worldwide.
Although these stores all provide the same products, there difference between Trader Joes’s and its competitors is the service provided and the atmosphere. Unlike other stores Trader Joes carry fewer products than other mega stores, Giving customers less to choice from. Most of Trader Joe’s competitors such as Whole Foods store carry between 25,000 and 45,000 products, whereas Trader Joe’s only carry around 4,000. This shortage is yet beneficial for Trader Joe’s and its customers.
On the word of Professor Barry Schwartz: author of “The Paradox of Choice”, Barry Suggest that “Giving people too much choice can result in paralysis. Studies have proven that the more choices given the less likely people are to choose any. Trader Joe’s takes pride in positive customer service skills. Trader Joe’s customers are immediately greeted by both friendly and knowledgeable staff members that are eager to tend to the customer’s needs. As stated in the text, each employee is encouraged to taste and learn about the products and engage customers to share their experiences with the customers that they come across. This shows that the company values its customers.
They assure that their customers are taken care of by making sure that the employees have the ability to provide product knowledge and customer involvement that its management promotes among its employees. Trader Joes is designed to increase job satisfaction. Trader Joe’s appreciates their employees. Individuals that work for Trader Joe’s receive a considerable amount of compensation, and benefits than their other equivalents at other chain grocers. Trader Joe’s is faithful at keeping some of their financial information private, however it has been proposed that managers make at least $120K per year.
This goes to economics, what physical and human capital. Over time names were given to Trader Joe’s because new places were becoming better ways. This privately held company fared when Greenpeace put of the score for the amount of seafood markets went over. Greenpeace Company did a case study that ranked 20 supermarket stores in which they assessed each store seafood policy and checked to see whether they sold red-listed seafood. Greenpeace found that Trader Joe’s had been selling 15 out of 20 red-list seafood’s.
Customers were outraged, Trader Joe’s vowed that they would only “offer sustainable red-listed foods and improve its product labeling to ensure that customers receive a more accurate account about the seafood products that were being sold. ” Questions arise such as will Trader Joe’s keep its promises to consumers? Buyers are very conscious about where their money is spent, but through it all Trader Joe’s will continue to soar. Overview In reading the case study I found a lot of interesting information. I normally shop at retail stores such as Publix, Wal-Mart, and Winn Dixie.
I’ve always thought that Wal-Mart would be the best place to shop because of its low prices, nevertheless Trader Joe’ s seems to be a better fit at buying quality things at a lower rate. This case study gave me a great deal of knowledge about what is valued by this company and the expectations that Trader Joe’s has for its employees as well as customers. Chapter 6 expresses motivation and performance. All of this relates to the case study because Trader Joe’s is a firm perfectionist on keeping employees motivated and putting their best foot forward when dealing with customers.
The article advises that Trader Joe’s “Aggressively courts friendly, customer oriented employees by writing job descriptions which highlight desired soft skills” an example would say something like ( “ambitious and adventurous, enjoy smiling and have a strong sense of value”). Job performance is critical in any organization; however in relation to Trader Joe’s it is important for their employees to create positive customer service satisfaction. I am certain that Trader Joe’s is reliable concerning Intrinsic and extrinsic rewards, pay for performance, and performance management measures/methods.
In the corporate world most of an employee’s raise are based upon how well they are able to deliver/perform. Trader Joe’s is a consistent force in the ranking of employees. Trader Joe’s is a company that thrives off of building within; therefore Job design is a significant strength that helps the company to strive at being the best. It is imperative that organizations create a balance by knowing what is expected from consumers and employees. Trader Joe’s takes pride in not following or doing what their competitors are doing. It has been expressed that “The Trader Joe’s brand is diversity on steroids” (Forbes, 2011).