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Trader joe's IMC Strategic Branding Plan
The document outlines the research and branding strategy for a Trader Joe's annex targeting Florida State University students, revealing key demographics and shopping habits. It identifies strengths such as a wide assortment of organic products, while noting weaknesses like limited parking and brand perception issues. The strategy includes measurable objectives to generate awareness, engage students, increase sales, and establish the brand through various marketing tactics, including partnerships and social media.
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Trader joe's IMC Strategic Branding Plan
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- 2. Research Conclusions: Demographics ● Wereceived 98 responses after distributing the “Trader Joes Annex” survey to Florida State University students. ● 88% of respondents completed the survey (86). ● Females 73% ● Males 27% ● Ages ranged from 18 to over 22. ● 30% of our respondents were 21 years of age and 49% of respondents were over 22 years of age.
- 3. Hearing About Trader Joe’s ●Since Trader Joe’s does not take part in traditional marketing, it makes sense that most respondents have heard about it through word of mouth tactics.
- 4. Primary Grocery Store ● Publixis the primary grocery store ● There are multiple factors which could be contributing here, including the ease of location for many students, enjoyable shopping experience, and frequent sales. ● Wal-Mart is the next popular choice, with Winn-Dixie falling in behind. Target, Trader Joe’s, and “other” represent together less than 10% of the respondent’s primary grocery store.
- 5. Frequency of Grocery Shopping ● Mostrespondents tend to do their grocery shopping once a week or 1- 2 times a month ● This group of respondents comprises over 60% of the overall sample.
- 6. Living Area ● Students wholive off-campus have self-reported that they are more likely to visit the hypothetical Trader Joe’s annex more than those who live on-campus or near to campus. ● There were slightly more respondents who live off campus (61.6%) than those who lived on- campus or near campus (38.4%).
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- 10. Research Limitations ● Respondentsskewed by age/year ● Small sample size ● Not randomized sample
- 11. SWOT Analysis Strength Wideassortment of organic food 2000 private label products Self-funded (No debt) Location: High populated area Great customer service and return policy Brand Loyalty Weakness Lack of parking Overcrowded location “Perceived” as expensive Lack of recognizable brand names and variety of products --not one stop shopping Loss of marketing channel: no sales promotion Opportunity People are growing more health-conscious Potential CSR partnership with FSU and the school of nutrition Boosting the local economy by purchasing from local farmers, offering job opportunities Creating mutually beneficial partnerships with Second Harvest (food bank) or Leon County Shelter in Tallahassee. Threats Large competitors: Publix, Walmart, Target, Whole Foods, World Market, Winn Dixie Restaurants that offer delivery Neil DeGrasse Tyson: "GMO food is ok" Students with fake ID’s could lead to legal issues
- 12. Positioning Competitively Priced; Healthy;Specialized; Diverse
- 13. Positioning: Competitively Priced ●There is a disconnect in message regarding whether or not Trader Joe’s is inexpensive or overpriced. ● Semantics: “Inexpensive” or “cheap” devalues our product
- 14. Positioning: Healthy ● Themajority of respondents do not care about buying organic or have no preference regarding organic groceries. ● Rise of mobile health apps and healthier options at restaurants ● “Healthy” as opposed to “organic”
- 15. Positioning: Specialized ● Commonperception: there is a limited selection of products offered at Trader Joe’s ● Based off of semantics ● “Specialized” to change consumer perception from “limited”
- 16. Positioning: Diverse ● TraderJoe’s offers vegan options ● Large portion of the population are not vegans ● Position ourselves as “diverse” because of specialized diets
- 17. Measurable Objectives andStrategies Four reasonable and realistic goals 1. Generate awareness 2. Increase sales 3. Establish the brand
- 18. Measurable Objectives andStrategies Objective #1: Exceed $1M in sales in one full school semester (Fall or Spring) Print and TV Ads YouTube Strategy: Utilize traditional and non-traditional tactics to increase awareness and proper branding of Trader Joe’s. $250K per/mo $62.5K per/week $9K a/day
- 19. Measurable Objectives andStrategies Objective #2: Bring in/engage all residents in traditional dormitories, and on-campus housing. 32,528 Undergraduate Students 1% 320 Controlled Buzz Marketers Strategy: Traditional door-to-door guerilla marketing utilizing trained student ambassadors.
- 20. Measurable Objectives andStrategies Objective #3: Maximize ROI from mobile channel Strategy: Hootsuite, Facebook analytics and google website analytics to monitor activity. Increase traffic and increase retention rates of consumer engagement.
- 21. Measurable Objectives andStrategies Objective #4: Increase sales by 60% on special weekends (i.e. ‘Back To School’, ‘Parents Weekend” and high profile FSU game days ) v.s a standard weekend. Strategy:One-stop-shop for ALL needs 1. Beer & Wine 2. Food and Drinks 3. Miscellaneous 4.Tailgate Ready
- 22. Creative Brief The Challenge ●Low-key brand presence ● Trader Joe’s not the majority’s primary grocer ● “We must express unique attributes”
- 23. Creative Brief What TheyThink ● “Affordable, healthful alternative” ● Convenient location by campus/Gaines Street Corridor ● College Town = Overcrowded, impossible to access by car
- 24. Creative Brief What WeWant Them To Think ● More than a grocery store ● Kindred spirits in Tallahassee ● Accessible, delicious ● “Your one-stop tailgate shop”
- 25. Creative Brief Compelling Idea ●Location ● Value ● Community Tone ● Wholesome ● Friendly ● Lively
- 26. Creative Brief The ResultingBig Idea We are at the heart of a fresh, emerging Tallahassee, just like the students and professionals who call this city home. Our friendly, helpful staff can get you the quick bites and fresh groceries you need at the high quality and low prices you expect. We’re your tailgate central, your one-stop shop, and your fellow Seminole, Rattler, and neighbor.
- 27. Branding Tactics: GrandOpening Sale ● Grand opening sale: get them in! ● Lower prices ● Gains customer loyalty and retention
- 28. Branding Tactics: FreeWifi ● Keeps customers in the store longer ● Assists in tracking customer spending habits ● Study: 14% of customers use mobile devices to shop→ purchase from the store
- 29. Branding Tactics: PublicRelations ● Strong publicity team, event coordination, sponsored events ● Keep track of crisis plans, press releases, events, journal articles, etc. ● Influence public opinion
- 30. Branding Tactics: SocialMedia Promotion ● Provides the ability to tailor messages through SEO cookie tracking ● Immediacy in communication ● Check-ins and sweepstakes
- 31. Branding Tactics: CorporateSocial Responsibility ● Trader Joes=Poster child of CSR ● Partner with the school of Nutrition Sciences ● Second Harvest or Leon County Shelter ● Boosts local economy by purchasing product from local farmers
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Editor's Notes
- #18 There are 156 million smartphones in the U.S., increasing by 24% annually, according to comScore.
- #19 Semester is 4 months. $250K a month, which allows a reachable goal of $62.5K a week or roughly $9K a day. (This is assuming that there aren’t outliers such as unforeseen acts of nature and or events i.e. shootings, that would force the University to shut down in any capacity) $250K a month/ $62.5K a week/ $9K a day Traditional: Direct Mail Email Blasts Print and TV ads Phone Calls Non-Traditional: Youtube Videos Phone apps T
- #20 Florida State University has a total undergraduate enrollment of 32,528. Granted, only 20% live in college-owned, operated, or affiliated housing and 80% live off campus--that still averages about 6,400 students that we can effectively use as “buzz marketers” to help generate traditional WOM on a daily/weekly basis. It’s a strategic move to start with the nucleus of the University that will hopefully help spread towards the entire goal of engaging all students on and off campus. Considering results--those who lived off campus reported that self reported that Setting up
- #21 The goal here is to Increase traffic on our website and increase retention rates of consumer engagement on social platforms. Revenue is directly correlated with social consumer engagement. Research and recent studies show 80% of the time consumers spending shopping on their devices is through an app. Research also concludes that consumers will make $87 billion in purchases from mobile devices this year alone.
- #22 An average FSU home football weekend could bring upwards of $5 million to the Tallahassee area. An FSU-Miami football weekend in Tallahassee could bring in as much as $10 million to the Capital City. Fans drive hundreds of miles and stay multiple nights — a beautiful sight for area business owners such as the Trader Joe’s Annex.