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¶ … organization's innovation strategy. Use publicly information, including Securities Exchanges Commission filings. Choose organization introducing products services. (You grocery store chain -- Publix.
Changes at Publix:
Pioneering a change innovation strategy in the grocery business
The grocery store industry is at a crossroads. Consumers are demanding more choice and product options than ever before. However, it is increasingly difficult for a company to remain 'in the black' in the industry using a high-volume, low-profit margin sales approach. Wal-Mart and many other big box stores like Costco are selling goods at equally low prices as major supermarket chains. Some grocery stores such as Whole Foods use a differentiation strategy to cope with this challenge. Whole Foods stocks organic, international, and other specialty items such as gluten-free products. Publix, in contrast, is part of a larger supermarket retail landscape with a relatively generic profile. This could prove to be troublesome in the future. "Today's newly frugal consumers are cranking up the pressure on retailers to innovate. Margins in the $547.1 billion market averaged just 1.84% nationally in 2008, according to the Food Marketing Institute. Though an average grocery store has 46,852 items, the sector's big chains also stock pretty much the same brand-name goods" (Joseph 2009:1). However, Publix has managed to stay profitable through its unique innovation strategy. It is...
Even while its main stores are purveyors of a wide range of goods targeted at 'middle market' consumers, it has an eye on the expanding Hispanic market. "Publix's Sabor are examples of smaller, ethnic stores that cater to Latinos or immigrants from Asia and the Middle East. More employees are bilingual, too" (Joseph 2009:1). There is also an attempt to capitalize upon the new focus on healthy eating and cooking at home spawned by the increasing concern about the American obesity crisis, for which fast food and packaged, convenience food is to blame. Publix has begun to showcase cooking classes at many of its stores, which is designed to attract customers to its locations and to promote its products but in a soft-sell, educational context. It offers the Aprons cooking school at select locations as well as Aprons recipes on its website (Publix Aprons, 2014, Official website). "The Aprons chefs teach classes such as Grilling Fish 101 and A Vegetarian's Journey Through India -- all using ingredients found in the store, of course" (Troy 2011:1).
As well as selling groceries, Publix also sells drugs and other personal care goods. It strives to innovate in these areas as well. For example, "last…
References
Joseph, D. (2009). Supermarket strategies: What's new at the grocer? BusinessWeek. Retrieved from: http://www.businessweek.com/innovate/content/jun2009/id2009068_540314.htm
Publix Aprons. (2014). Official website. Retrieved from:
http://www.publix.com/aprons/Home.do
Solomon, B. (2013). The Wal-Mart slayer. Forbes. Retrieved from:
http://www.forbes.com/sites/briansolomon/2013/07/24/the-wal-mart-slayer-how-publixs-people-first-culture-is-winning-the-grocer-war/2/
http://www.drugstorenews.com/article/publix-keeps-pace-innovation
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