Trader Joe's Final Presentation
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The document presents research findings from a proposed online grocery delivery service pilot by Trader Joe's. Market research found millennials are more likely than other generations to shop online for groceries. Favorability towards brands was found to influence purchase probability. Trader Joe's received higher favorability ratings than Whole Foods in some attributes like value and cost. The recommendations are to launch a pilot Shop @ Trader Joe's online grocery delivery service to capture market share and position the company for future online grocery success.
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Trader joes presentation 8.8.12
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Exciting marketing research notes
Marketing research involves systematically collecting and analyzing information about markets and consumers to inform business decisions. It serves descriptive, diagnostic, and predictive functions. Common marketing research methods include qualitative approaches like focus groups and interviews to understand attitudes and motivations, as well as quantitative surveys and experiments to measure preferences and test hypotheses. The goals, budget, and type of insights needed determine the most appropriate research method(s) and sample size. Outsourcing research to specialist agencies allows businesses to leverage professional expertise throughout the research process.
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A market is where buyers and sellers exchange goods and services. Companies aim to reduce costs and satisfy consumer needs better than competitors. Organizations have business objectives while marketing objectives focus on consumers to help achieve business goals. The marketing department conducts sales, research, promotion, and distribution. SWOT and market segmentation analyses help understand strengths, weaknesses, opportunities, threats, and consumer segments. The marketing mix of product, price, place, and promotion supports branding and customer satisfaction.
Marketing
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Trader Joe's Final Presentation
- 2. ww.sxc.hu
- 3. Nari Ely Graham Perkins Ben Grieser Erika Maguire Teresa Chai Shop Now online and brought right to your door. ww.sxc.hu Everything you love about our store
- 4. ww.sxc.hu
- 5. • Industry research Growing poten?al for online grocery retail • Market research Probability of purchase driven by brand favorability • Recommenda?ons Improve aDributes driving favorability Launch pilot in select stores Industry Research Market Research Recommendations
- 6. • Urbaniza(on • Heightened price sensi(vity • Rising demand for convenience Industry Research Market Research Recommendations
- 8. % who go online Millennials (18-‐33) 95 Genera(on X (34-‐45) Younger Boomers (45-‐55) Older Boomers (56-‐64) Silent Genera(on (65-‐73) G.I. Genera(on (74+) 86 81 76 58 30 Industry Research Market Research Millenials are online more than any other genera(on. Recommendations
- 10. Quality of Goods Value for Cost 0.22 Favorability 11.2% PoP Delivery Cost Industry Research Market Research Recommendations
- 14. • • • • • AQen(on-‐grabbing ads on mass transit Fearless Flyer Exclusive online offerings Free samples with purchases Free shipping for first two months Industry Research Market Research Recommendations
- 15. • Quality • Value • Cost Industry Research Market Research Recommendations
- 16. • Highlight user ra(ngs and reviews Industry Research Market Research Recommendations
- 17. • Side-‐by-‐side product comparisons • Free shipping for regular customers Industry Research Market Research Recommendations
- 18. • Women have higher Trader Joe’s favorability • People who shop at trader Joe’s spend less per trip • College-‐town graduate students s(ll strong poten(al market Industry Research Market Research Recommendations
- 20. • Working professionals or students? • Other aQributes to increase favorability? • Willingness to use online grocery service? Industry Research Market Research Recommendations
- 21. Nari Ely Graham Perkins Ben Grieser Erika Maguire Shop Trader Joe’s should launch a Shop @Trader Joe’s pilot. Expanding into online grocery retail will capture a growing market and position Trader Joe’s for success. Teresa Chai
- 22. Independent Samples Test Levene's t-test for Equality of Means Test for Equality of Variances Sig. Favorability towards TJ assumed .971 assumed Probability of using WF assumed service Equal variances not assumed df Mean Difference .326 1.676 79 .098 .39377 1.683 Equal variances not Equal variances Sig. (2tailed) Equal variances t 78.922 .096 .39377 -2.368 79 .020 -10.80788 -2.353 74.580 .021 -10.80788
- 25. Paired Samples Statistics Mean Pair 1 Pair 2 Pair 3 N Std. Deviation TJ favorability value 5.7209 86 .97801 WF favorability value 5.3372 86 1.03595 TJ favorability cost 5.9651 86 .98754 WF favorability cost 5.2558 86 1.34764 TJ favorability quality 5.9302 86 .87838 WF favorability quality 6.0698 86 .83723 Paired Samples Test Paired Differences Mean Pair 1 Pair 2 Pair 3 TJ favorability value - WF favorability value TJ favorability cost - WF favorability cost TJ favorability quality - WF favorability quality t df Sig. (2-tailed) Std. Deviation .38372 1.11849 3.181 85 .002 .70930 1.50970 4.357 85 .000 -.13953 .79945 -1.619 85 .109