Marketing Plan

For your final project you analyze the following case study about the grocery retailer “Trader Joe’s and work to develop and market a new dessert item for the chain. Review the following and for background:

Don't use plagiarized sources. Get Your Assignment on
Marketing Plan
Just from $13/Page
Order Now

The Company
With a near cult following, Trader Joe’s has carved out a successful position in the competitive grocery market. Started in Los Angeles in 1958 by Joe Coulombe as a convenience store, Trader Joe’s was dramatically re-positioned in the 1960s as a store with luxurious food at low prices. Trader Joe’s has grown to 474 stores in 41 states. Estimated annual sales exceeding $13 billion. The company has 38,000 employees.

The Shopping Experience
What makes Trader Joe’s a unique grocery shopping experience? Trader Joe’s stores are not large—about 10,000 square feet—and carry a limited number of items to keep costs down. While there are fewer items (2,500 to 3,000), the items are often unique. More than 70 percent of the merchandise is private label, including Charles Shaw wine that sells for about $3.29 per bottle! Private label has been part of Trader Joe’s product strategy for more than 30 years. According to Trader Joe’s president, Doug Rauch, “We went into private label because of the value opportunity, so we could put our destiny in our hands.” And over the years, consumers’ confidence in these offerings has grown, allowing Trader Joe’s to try new things and experiment with other offerings. Private-label offerings allow Trader Joe’s to knock at least 20 percent off the cost of its products. And all private-label offerings boast no artificial colors, flavors, or preservatives.

Don’t let the low prices fool you—the merchandise quality is upscale. In addition to organic fruits and vegetables and other grocery staples such as milk, cheese, and meat, there are unusual items such as Trader Joe’s own chocolate-covered, peanut butter–filled pretzels, and exotic cheeses such as an Indian Paneer and a white Stilton with mango and ginger chunks.Marketing Plan

The Search for New Products
Trader Joe’s uses a group of trained employees called “the tasting panel” to evaluate, critique, and improve its varied lines of house brands. New-product ideas have been uncovered in an airport in Thailand and a small restaurant in Italy and brought back to Trader Joe’s and the tasting panel. This constant influx of new, tasty, critically reviewed products replaces the bottom 10 percent of products. Rotating out the bottom 10 percent isn’t easy, but it ensures a constant flow of new products for customers to try, according to Matt Sloan, vice president of merchandising.

And customers are willing to travel to take advantage of the value provided by Trader Joe’s. Trader Joe’s has become to Manhattan supermarkets what Walmart is to middle America grocery stores. The values offered by Trader Joe’s exceed the convenience of the local market. According to Jon Hauptman of consulting firm Willard Bishop, there are price-gap “tipping points” where consumers are willing to pay more for additional convenience. Hauptman says this price gap typically is around 10 percent. Since Trader Joe’s prices are easily more than 10 percent lower for similar items (generally 20 percent lower) and offered in a more upbeat shopping environment, consumers are willing to trade convenience and tote their Trader Joe’s shopping bags through the subways of Manhattan.

Sampling is a key promotional tool. For a grand opening in Newport News, Virginia, customers were able to try Atlantic smoked salmon and hot cider in the morning followed by roasted red pepper soup, sweet potato bisque, and Tuscan Italian bread in the afternoon. Employees answer customer questions and offer food suggestions. Handwritten suggestions on labels offer ideas for foods that work well together. Recipe cards are available with additional food preparation ideas.

Looking for a special dessert? How about a frozen pumpkin cheesecake or strawberries dipped in white chocolate? “People will think you’ve gone through so much trouble, or they’ll say, ‘You got that at Trader Joe’s,” says Trader Joe’s Danny Owens.

Your Assignment
You are a marketing specialist tasked with creating a tempting dessert that can effectively compete with Trader Joe’s frozen pumpkin cheesecake and strawberries dipped in white chocolate. Then, your assignment is to develop a marketing plan to launch the new dessert nationally.

Before reading any further, we would like you to review Appendix A “Building an effective Marketing Plan” (pp. 56-70) and Chapters 21-22. Please feel free to look up marketing plans in other literature, as well, as you may need it for the paper. As you can see, marketing plans often differ in nature and content depending on many factors such as the nature of the industry, management needs, and the purpose of the plan. However, most plans follow a similar structure. A product or brand plan would include all of the following components (below). Please use this framework to develop the marketing plan for your new dessert:Marketing Plan

Executive Summary – a very short (200-250 words) summary outlining the goals and recommendations included in the plan.
Situation Analysis – a concise description (350-700 words) of the current relevant conditions in the market:
Market Summary
Market Needs
Market Trends
SWOT Analysis
Marketing Strategies – The main body of the plan explaining the logic by which you hope to achieve your marketing objectives. This includes identifying the target market, outlining the marketing mix strategies and the level of expenditure.
Marketing Objectives
Marketing Strategies
Marketing Tactics
Target market
Product positioning (USP)
Marketing Mix
Product review
Features, benefits
Points of difference
Sales Promotion
Implementation Milestones
Annotated Bibliography – Please be sure to attach an annotated bibliography to your marketing plan that documents all your sources for the project.
Assignment Instructions
In doing this term project, you will demonstrate a sound understanding of Marketing Principles and the various methods for developing overall marketing strategy. You are to present your marketing plan in a professional manner. Your marketing plan will include a title page, table of contents, an annotated bibliography, and appendices (if needed). Be sure to reference the textbook and cite any and all sources correctly, so that your academic integrity is not called into question. Overall, your final project is expected to be 3,750 – 4,250 words (10-12 pages, 12 point font, 1.5 line spacing).

It should be well written and organized, in proper format (APA, MLA or Chicago), using proper sentence structure and spellchecked. The How to create an Annotated Bibliography and Research and Library Tips pages of the Course Information documents will assist you in successfully completing this assignment.Marketing Plan

The evaluation of the marketing plan will consider your ability to apply the techniques of marketing planning, strategy development, and implementation to a real world business scenario. For further information on how you are graded please review the Writing Rubric.

Sources: Trader Joe’s: This case was prepared by Professor Linda Rochford, associate professor of marketing, University of Minnesota, Duluth, from the following sources: “Trader Joe’s Company,” www.hovers.com; SN’s Top 75 Retailers for 2009, supermarketnews.com, accessed October 15, 2009; David Orgel, “Trader Joe’s President Shares Secrets of Success,” Supermarket News, February 6, 2006; Joy Buchanan, “More Than Just Goat Cheese,” Knight-Ridder/Tribune Business News, December 9, 2005; Mark Hamstra, “Convenience Only One Small Part of Total Value Equation,” Supermarket News, July 17, 2006; and “Behind the Scenes at Trader Joe’s,” Private Label Buyer 20, no. 4 (April 2006).

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
so professional
Customer 463461, October 10th, 2022
thank you very much
Customer 462327, September 22nd, 2022
Thanks for the amazing PPT!!!!
Customer 454007, June 8th, 2020
Social Work and Human Services
Great writer! Thanks for the revision, the paper is so much better than ones previous.
Customer 463301, November 8th, 2022
Good job.
Customer 459155, May 31st, 2022
good job
Customer 456821, April 4th, 2022
Customer 462457, April 29th, 2022
Art (Fine arts, Performing arts)
very professional and well done.
Customer 462485, May 9th, 2022
MGMT 221 Introduction to Management Information System
Great job!
Customer 457731, February 25th, 2022
Leadership Studies
Excellent job.
Customer 456821, April 21st, 2022
Very good job.
Customer 456821, April 8th, 2022
Excellent. Thank you. I am grateful and I am thankful. I hope you have a wonderful day :)
Customer 454227, May 10th, 2020
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat