Strategic Planning and Market Segmentation Discussion


Strategic Planning and Market Segmentation Discussion
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Instructions:

Strategic Planning and Market Segmentation Discussion

Using 300-400 words each, please answer the below DQ’s.

DQ 1: Transferring a strategic plan into a reality can take more than planning. Provide an example of a leader who has transformed a strategic plan into a reality? How did they innovate and lead the company? What can you learn from this person?

DQ 2: Identify and discuss three reasons why market segmentation is so important to strategy implementation. Please include examples from industry you have been or would like to be associated with.

Brand Touchpoints Case Study

Description

How Trader Joe’s Creates Meaningful Brand Touchpoints

Trader Joe’s, a popular grocery store chain, has earned tremendous loyalty and a cult-like following.  A trip to Trader Joe’s may lead the consumer to encounter a tricky parking situation, crowded aisles, and long checkout lines.  There are no sales, coupons, or loyalty cards. Yet Trader Joe’s leads in customer satisfaction and employee engagement. Why has the company earned such a devoted following?  Trader Joe’s doesn’t aim to automate or streamline the shopping process–the goal is to make shopping fun.

The store provides a sensory-filled in-store experience. Walking into the store gives the consumer the feeling of stepping off a cruise ship into a vibrant island paradise.  Store leaders wear Hawaiian print shirts.  The store has hand-written signs and zany product names.  Samples are often given out (pre-COVID times).  Kids get free stickers and have fun searching for the hidden stuffed animal.

The experience provides a sense of being on a treasure hunt through limited run, experimental products.  Fans of the store love the affordable prices as well, and TJ’s “two-buck-chuck” wine is a customer favorite.  There are many private-label brands (which means these can’t be purchased at other grocery stores), which adds to loyalty.

Trader Joe’s is known for its engaged employees.  The employees seem to love working there and display high levels of enthusiasm.  Instead of just asking customers how they’re doing, the cashiers often ask or comment on things unique to the customer.  It’s not unusual for an employee to start juggling oranges or performing some similar lighthearted activity.

While Trader Joe’s doesn’t offer online commerce, its website does offer some novel touchpoints.  For example, there’s a monthly podcast–each episode can be found on the website.  Other resources on the website include recipes, articles on entertaining, stories on featured products, and guides on everything from creating tulip arrangements to building a better skincare routine.

Questions:

Describe how the brand touchpoints at Trader Joe’s provide emotional, self-expressive, and social benefits.  Be specific, and be sure to not combine these 3 benefits into 1—discuss each in turn.

What recommendations would you make on how to improve brand touchpoints?  Please be specific here and include your original thoughts.

Strategic Planning and Market Segmentation Discussion

RUBRIC

Excellent Quality

95-100%

Introduction

45-41 points

The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.

Literature Support

91-84  points

The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.

Methodology

58-53 points

Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.

Average Score

50-85%

40-38 points

More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.

83-76  points

Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.

52-49  points

Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.

Poor Quality

0-45%

37-1 points

The background and/or significance are missing. No search history information is provided.

75-1 points

Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.

48-1 points

There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met

Strategic Planning and Market Segmentation Discussion Strategic Planning and Market Segmentation Discussion
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Strategic Planning and Market Segmentation Discussion

Strategic Planning and Market Segmentation Discussion


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