Introduction The case study of Trader Joe's by David L. Ager and Michael A. Roberto explores the various and dynamic strategies that have led to the success of one of the most innovative and customer-focused grocery chains in the United States. Unlike other typical grocery stores, Trader Joe’s took the normal recipe the most grocery stores follow and created their own path being a leader in many ways in the industry. The authors examine the company's history, operations, and customer-focused approach, arguing that Trader Joe's success stems from its dedication to three central pillars: private label branding, selective product sourcing, and efficient operations. Because of its emphasis on these pillars, the company has been able to provide its customers with high-quality products at reasonable prices, as well as a fun and engaging shopping experience through its exceptional customer service.
We all know the retail leader for the last several decades has been Wal-Mart. During the sixty's, Mr. Sam Walton open the very first Wal-Mart. With a vision of selling their products cheaper than the competitor. At first, business was shaky at best. However, today the Walton family is worth an estimated 130 billion dollars.
The first Costco opened in 1983. It was founded by James Sinegal and Jeffery Bortman. Around that same time Sol Price and his brother Robert started a company called Price Club that served small businesses in San Diego, California. In 1993, the two merged and since then have become the second largest wholesale retailer in the world. The current CEO is Craig Jelinek.
Wal-Mart was founded in 1962 by Sam Walton. He opened up the first store in Arkansas. The first store was a basic discount store providing its customers with low cost products. In 1983, Sam Walton expanded the Wal-Mart brand name to include its first Sam’s Club. This member’s only store warehouse that offers bulk items from everything to clothing to household cleaning items to food later became a huge success.
Sam Walton, founder of Sam’s Club is one of the most notable business leaders of his time. Passionate for excellent customer service, Walton wanted to use his resources to help other entrepreneurs have access to products they needed to make their businesses grow. (Sam's Club, n.d.) In 1983, Sam Walton opened the first Sam’s Club in Midwest City, Oklahoma. Today, Sam’s is a membership warehouse club that offers members quality products at a low price value unmatched by any traditional retail store.
September 8, 2014 Walmart’s practices are good for America. Walmart’s first store opened its doors in 1962 in Rogers, Arkansas. Sam Walton, the founder, was franchising a Ben Franklin’s variety store when he came up with the idea of passing on the savings that he got from his suppliers onto his customers. This concept was the basis of his business strategy when he started Walmart. Since that July day, Walmart has been an institution that has reshaped the retail industry and America as well.
Best Buy hiring and the molding of employees is conducted by having great management and a system that is different than most companies. An employee need to the company will start at the bottom and be trained on how to sell the products in a traditional manner which is not by commission or pushy sales practices by promoting products and services to make the customer/customers family happier and entertained. 2. Best Buy will give its employees proper training, benefits packages (insurance, vacation time, sick leave and other benefits) that are competitive and within state and federal laws and regulations. This includes being in EEO, labor and respecting basic human rights through their code of ethics policy.
In addition to selling products they also help customers with their computer problems and they give music lessons. It all started in 1966 when Richard Schulze and one of his partners opened a small store in St. Paul, Minnesota (Best Buy Co., Inc. History, n.d, para.1). Best Buy wasn’t always Best Buy it started off as a home and care stereo store called Sound of Music, Inc (Best Buy
Best Buy today sells many electronics in their stores and online. Today the store sells televisions, mobile phones, computers, tablets, video games, appliances for the kitchen, cameras, car electronics, toys, electronics for your health, vacuum cleaners, or even earphones and speakers. These products are good quality ones and they can be from brands like Apple, Nintendo, PlayStation, Xbox, Lenovo, LG, General Electric, even Beats for the earphones or speakers, Samsung, Sony, Microsoft, Nikon, or Epson. Best Buy also sells gift cards, or Microsoft Office cards so you can get to use Microsoft word, PowerPoint etc. All these products are sold on the big Best Buy stores and are also sold online to the people.
Best Buy was established in 1966 by Richard Schulze and Gary Smoliak, originally named Sound of Music. The company started out selling stereo equipment, then in 1983 rebranded itself to consumer electronics, and was renamed to what it is best known as Best Buy company Inc. Not long after, in 1987 started to trade stocks on The New York Stock Exchange. As years go by, Best Buy eventually becomes the top electronic retailer in Canada in 2001.
“Leadership is the ability to inspire confidence and support among the people who are needed to achieve organizational goals page 346. (insert textbookname). Leadership is a quality that is important in the world today. There are an infinite number of ways to be an effective leader. Each one of us desires to become a leader because we want to be respected.
Thus, providing people with the very best product the present day can offer. Expansion of Product lines: By continuing to improve name brands and well known products Best Buy can ensure customer retention by carrying new and update products, such as new apple iPhone. Acquisition of Rivals: By consuming their rivals, Best Buy keeps the threat of other companies low.
Walmart originating in Rogers, Arkansas on July 2nd 1962. The company created by Sam Walton was soon to become the biggest dynasty in America along with the name brand of Sam’s choice. Walmart has an average of 130 million customers weekly and annual sales of over 250 billion. Walmart is not only known for the extremely low imported prices and goods but also has an extremely dark side most american people don’t know. In the time walmart had been a company there have been multiple lawsuits that are employee related and some involving discrimination.
Sears was established in 1886. The company began as a mail-order catalog company and then became an anchoring store in the fast-growing suburban department store. Over a century, Sears was one of the largest and most powerful retailers in the US because at that time the retail industry was fragmented, and Sears provides customers with its products that served for everyone’s need, under one roof. Therefore, Sears became American’s iconic retailer with a well-known tagline of “Where American Shops.”
My Opinion As a former Store Manager for Best Buy, I have seen and also went through a lot of restructuring within the company. They went through one CEO whim was very well liked and respected,
