The world is absolutely full of companies, each of which has taken a different approach and utilized a different business model. While all the markets have proven quite variable, the strategy for success does seem to rely upon certain themes. Above all, branding proves itself to be vital. With successful branding, a company can appeal to consumers and create an experience. Associations that consumers make between companies and vibes can literally destroy a business, even if they don’t do anything horrendously wrong (take Myspace, for example). Thanks to branding, a company can go from stardom to bankruptcy, or from a small startup to a Fortune 500 candidate in a relative blink of an eye.
One of my favorite grocery stores is Trader Joe’s. Their food is a bit more pricey than your neighborhood Kroger supermarket, but often less fair-trade or transparently sourced than Whole Foods. It seems that the store hits some middle-ground between these two behemoths. To me, that could be good or bad. On one hand, people might like it as the “mama bear” store, perfectly in between overpriced hippie food and Monsanto’s biggest fan. To oppose this, though, I would think people are either interested in the budget-friendly Kroger stores and the top-quality Whole Foods, so a middleman might not be necessary. Trader Joe’s captures something special, though: the experience. Modeled after a simple market, you won’t find 20 types of flour or a bunch of ice cream companies with the same flavor right next to each other. The store relies on its simplicity to streamline the shopping process. Furthermore, their absence on Twitter enforces an image of basic, authenticity. This is a recipe for success.
While many companies in this modern age can attribute their success to tactical social media presence and advertisement, Trader Joe’s can thank their lack of social media presence as a factor that enhances their image. In a time when image is everything, the right thing isn’t necessarily the thing everyone is doing.
alexanderstevehornyak 