Marketing Plan For Whole Foods - 1817 Words

Whole Foods, founded in 1980 by John Mackey, strives to provide the highest-quality natural and organic foods with a goal of creating healthier people living healthier lives. In order to achieve their goals they have implemented several important elements as part of their overall strategy for long-term growth. Some of those elements include: †¢ Growth and Store Location Strategy – Prior to 2007, part of Whole Foods strategy was to open new stores and to acquire small owner-managed chains. They focused on opening stores in high traffic thoroughfares in upscale neighborhoods. Following the recession of 2007-08, they changed their strategy and adopted a much leaner approach to design and building. Acquisitions would be a minor part of their†¦show more content†¦365 is a budget friendly version of Whole Foods that will be smaller and offer a limited number of items (Bells, 2016). The goal of their 365 Value Priced stores is helping customers understand that shopping at Whole Foods 365 does not mean you have to choose between quality products or shopping within your budget. There is much speculation about whether Whole Foods has done enough to shed its Whole Paycheck reputation in order to remain competitive in the current food retailing industry. Consumer demand has transformed what originally was a natural and organic food retailer – a niche market – into the fastest growing U.S. food seller (Gamble, Peteraf, Thompson, 2017). Whole Foods original strategy was to provide the highest quality product at the most competitive prices possible. However in 2007-08, following the recession, they adapted their strategy and began to focus on value and controlling cost. When Whole Foods opened they used a focused differentiation strategy, concentrating on a narrow buyer market and meeting the needs of very specific customer base (Gamble et al., 2017). Realizing that their strategy was not necessarily sustainable in the long-term, they adjusted their strategy and began to appeal to a broader customer base with a focus on quality and value. Mackey is passionate about his business and the messageShow MoreRelatedMarketing Plan For Whole Foods1441 Words   |  6 PagesWhole Foods Name: Course: Tutor: Date: â€Æ' Whole Foods Introduction In United States, study shows that Whole Foods Market (WFM), Inc is one of the largest natural foods supermarkets chains that offer citizens various services. The firm enjoys strong brand name recognition in the natural foods niche market that is growing significantly. The company uses SIC Code 5411 in the grocery stores. According to Whole Foods Company, natural foods are those foods that are processed at a tiny extent or foods thatRead MoreMarketing Plan For Whole Foods1429 Words   |  6 Pages Grocery shopping has become more diversified than ever before. Whole Foods Market and Trader Joe’s have become household names in the consumer arena. Markets such as Roots, and Common Market are also in the game even though they operate on a smaller scale. Despite comparable size in terms of locations, each store’s growth has operated using a very different model. As Whole Foods has increased the number of retail centers that it operates, it has suffered accompanying growing pains in the distributionRead MoreMarketing Plan For Whole Foods1390 Words   |  6 Pagesit seems fitting that Whole Foods Markets are popping up with their distinctive green signs in neighborhoods across the country. Beginning with their first expansion in 1984, Whole Foods has consistently grown domestically. In 2007 Whole Foods began opening stores in the United Kingdom. While continually opening new stores, the company fueled its expansion by acquiring other food chains. For instance, it acquired one of its largest competitors, Wild Oats, in 2007. Whole Foods has consistently rankedRead MoreMarketing Plan For Whole Foods Essay1319 Words   |  6 Pagesnatural foods. Based on a simple but effective business model, Whole Foods has grown to a position of market leadership that is now being challenged by low-cost organic sellers. According to Feldman (as cited in Giamm ona, 2015) â€Å"Whole Foods continues to face challenges from competitors going after organic and natural foods more aggressively†(para. 4). The company s differentiation edge against lower-cost competitors is fading as competitors have been successfully emulating the Whole Foods experienceRead MoreMarketing Plan For Whole Foods Essay2260 Words   |  10 PagesPerformance Whole Foods Market is the leading natural and organic foods supermarket. They are the first national â€Å"certified organic† grocery store. 2015 might have been the worst year in the history of Whole Foods Market. Comparable sales had declined for the first time since the recession. There was a humiliating scandal involving mislabeled weights and prices, and the attacks from rivals Kroger Inc., Costco Wholesale and Trader Joe’s only seemed to increase. This resulted in Whole Foods’ sharedRead MoreMarketing Plan For Whole Foods Market1587 Words   |  7 PagesCompany/Product Background For this Global Marketing Foreign Market Entry and Marketing Plan, we will be expanding the Whole Foods Market into Italy. Whole Foods Market is considered to be a higher end, more organic store with higher priced products than other markets in the United States. The motto of the brand is â€Å"America’s Healthiest Grocery Store† (Whole Foods Market History, 2016). They are concerned with what their customers are eating and overall health, so they offer so many products thatRead MoreMarketing Plan For Whole Foods Market1554 Words   |  7 PagesIntroduction / History / Company Background Whole Foods Market first opened on September 20, 1980 in Austin, Texas, which is the company headquarters. The founders were John Mackey, Renee Lawson, Craig Weller, and Mark Skiles. These four business people decided that the natural food industry was ready for a supermarket format. The current CEO’s are John Mackey and Walter Robb IV (Whole Foods Market History, 2015). Whole Foods Market stock ticker symbol is WFM and their NACIS code is 445110 (WFM MorningstarRead MoreMarketing Plan For Whole Foods Market1401 Words   |  6 Pages1.0 Overview of the company: Whole Foods Market is a chain of organic, natural supermarkets found in USA, Canada and the UK. Initially founded in Austin, Texas in 1980, at a time when there were less than half a dozen natural supermarkets, the company saw rapid growth domestically through expanding across Texas and then into the West Coast of America. This was achieved through growth from the ground up and acquiring smaller natural food companies. Whole Foods Market in the present day is the resultRead MoreMarketing Plan For Whole Foods Market Essay731 Words   |  3 PagesTarget Customers: Whole foods Market targets people who are more interested in consuming high quality organic foods and living a healthy lifestyle. They want natural and organic foods and are willing to pay higher prices for that. They live in urban areas and are comparatively wealthy. Whole foods Market provides a lot of options for them and a memorable consumer experience when they shop for food. It makes sure to attract these people. In addition to this, to target average consumers it has introducedRead MoreMarketing Plan For Whole Foods Market1040 Words   |  5 Pagesorganizations run more efficiently and effectively (Gray, n.d.). Whole Foods Market (WF) is the largest natural-foods grocer in the United States. In addition, they have stores in Canada and the United Kingdom (Cuenllas, 2013). They have annual sales over $14 billion and net profits over $500 million in 2014 (Amigobulls, 2015). The company got its start in 1978 by John Mackey and Rene Lawson Hardy when opening the doors to a natural foods store called SaferWay, in Austin, Texas. Two years later, they