1. Describe the relationship between strategic thinking and operational thinking.
a. Distinguish between strategic thinking and operational thinking.
b. Identify the aspects of the Trader Joe’s case that relate to strategic thinking.
c. Identify the aspects of the Trader Joe’s case that relate to operational thinking.
2. Identify one key performance indicator each for strategic thinking and operational thinking.
3. Which KPIs would be appropriate to measure success in marketing for Trader Joe’s? Which KPI would be most important to consider? Provide a rationale for your answer.
Part 2: SWOT Analysis
1. How should an organization interpret the results from a SWOT analysis?
2. Identify the strengths, weaknesses, opportunities, and threats (SWOT) from the Trader Joe’s case. To answer this question, use the SWOT analysis template provided below. One example for each quadrant has been added to help you get started.
a. Which information from Trader Joe’s SWOT analysis is internal? Which information from Trader Joe’s SWOT analysis is external?
Example: “Trader Joe’s culture of product knowledge and customer involvement is carefully cultivated among new hires and current employees.”
This phrase implies that the company has a process for collecting, reviewing, and using knowledge to make product improvements, which results in market responsiveness.
Example: “If customers don’t like something about a product, out it goes—count spinach and garlic from China among the rejected losers.”
Because the company tests new products with customers and is willing to take a loss if customers don’t like products, this could lead to increased opportunities costs for those products that company purchasing agents passed up and decreased profits.
Example: “However, Trader Joe’s has a cozy and intimate atmosphere that its rival lacks.”
This could be an opportunity to bring in local artists and designers to co-promote the Trader Joe’s brand and to increase local brand engagement and adoption.
Example: “search out tasty, unusual foods from all around the world”
This could be a potential threat in times like we are experiencing right now, when global supply chains are disrupted, and fewer products are available.
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