Final answer:
Trader Joe's is considered one of the best companies for its ability to offer premium products at competitive prices, similar to how Amazon's cost structure allows it to undercut competitors. Its focus on actual competition, as emphasized by the FTC, rather than market share alone, contributes to its success.
Step-by-step explanation:
Trader Joe's is considered one of the best companies due to its unique business model, which focuses on offering a selection of premium natural and organic products at competitive prices. This approach sets it apart from other grocery chains and appeals to a specific market that values quality and affordability. Not only does Trader Joe's manage to carve out a niche for itself in the competitive grocery market, but, like Amazon, it benefits from an efficient production model and cost structure that allow it to offer lower prices.
The Federal Trade Commission (FTC) has emphasized the importance of looking at actual competition between businesses rather than just market share. This perspective is relevant when considering the competitive environment that Trader Joe's operates in. While it might be a relatively small player in the broader market that includes all stores selling groceries or specialty food products, its emphasis on premium natural and organic products places it in direct competition with chains like Whole Foods Market and Wild Oats Market.