This is the link to the Podcast on Trader -Joes – http://freakonomics.com/podcast/trader-joes/Please answer these questions after listening to the Podcast: 1. Trader Joe’s is a company that doesn’t harness big data and doesn’t generally seem to embrace a lot of technology. It employs a lot of real, live people — and pays them above the industry standard: But it is also a company that sells its products at very low prices. According to one of those investigations comparing a basket of items at a bunch of different grocery stores — this one was done in 2016 by the MarketWatch website in the San Francisco Bay Area — Trader Joe’s was easily the cheapest compared to Safeway, Target, and Whole Foods. It was 32 percent cheaper than Whole Foods. So how does Trader Joe’s take in the most revenue per square foot in the industry?2. Trader Joe’s almost doesn’t advertise at all. They don’t market. They have a pretty good website now. But for years they had a rudimentary website. They had almost no social media presence. They had almost no kind of public relations. So they didn’t do a whole bunch of the things that that are typically associated with building a brand, yet they have a very strong one; how did they do it? 3..What are the traits that make for a good TJ employee? 4. In the podcast, one speaker comments, ‘To do what they do, you can’t just hire the same people they hire. You have to emulate the private-label strategy. The real-estate strategy. The pricing. The quirky culture. And it’s often the soft things. Not just the kind of people you hire, but the way you train them and the culture you create. I mean, we can build a store that looks like a Trader Joe’s. But when we have people walk in, can they have the same experience? Well, that’s very hard to replicate.’ If this is true, how can you apply TJ’s success to other companies or institutions?
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This is the link to the Podcast on Trader -Joes – http://fr
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