Ways Joe Coulombe Changed His Convenience Stores to Compete | Desklib

Running head: STARTING A BUSINESS
STARTING A BUSINESS
Name of the Student:
Name of the University:
Author note:

1STARTING A BUSINESS
Answer 1- Some of the ways in which Joe Coulombe have changed his convenience stores in
order to survive and compete during the time when 7-Eleven® entered in the market are of
selecting and targeting his specific target customers like how he did with Trader Joe’s in the
end. He identified that with the broadening of the travel, there were many educated person
around the place but they are not well paid consumers. Instead such customers would look
towards getting high quality products at lower rates. Hence, he chose to offer his customers
quality products at much affordable prices (Powell, 2016). This has helped him to a great
extent. By choosing his specific target customers, his company got assistance in attracting
them on a regular basis. He could have also approached the opening of 7-Eleven® as one of
the lesser brand and could have attempted in having higher end store that supplies products at
affordable rates. In order to do so, a niche market is necessary to be identified first.
Furthermore, he has also changed the name of one of his market in order to see how good or
how bad it works.
Answer 2- One of the other market segments that could have been or could have now, a good
customer base for Trader Joe’s is of organic health food niche market. These companies are
not at all worried about what the types of food the others are supplying and how unhealthy
they are. Such businesses and companies are more concerned about making profits than
making customers (Nuttavuthisit & Thogersen, 2017). At present, they are small retail stores
who are mainly focused on the supply of organic foods to the customers and make significant
profits. Hence, Trader Joe’s could today focus on more health conscious customers as
because of the healthier choices that already offer at their stores.
Answer- 3 It is to note that Trader Joe’s has a history of doing the things in different ways
and that too ahead of their time. As it is significantly growing and expanding its business, it is
very important for it to stay true to its passion of supplying or providing quality products to
all its customers at lower price rates by doing the things smarter (Reiland, 2015). As because