Whole Food Market in 2008:Vision, Core Values and Strategy
Question No. 1
What are the chief elements of the strategy that Whole Foods Market is pursuing? Use Strategy Diamond to explain this part.
ARENAS:
• Product: The company has a broad range of products including Natural and organic items
like beverages, snacks, frozen items, Meat and poultry, Dairy Products, Fresh Sea food, baked products, coffees, cheese and different supplements, etc
• Market Segment: Health Conscious People of many ages and ethnic group
Technology: Biodiesel Fuel for its Distribution Fleet Vehicles, Green power technology to reduce energy consumption
Geographical area:
• Geographically 3 countries 1. United states 2. Canada 3. Great Britain
VEHICLES:
Internal development and Acquisition:
Expansion of Company occurred initially by internal development. They Opened larger new stores and reallocated smaller old stores to bigger sites. Whole Foods preferred to locate stores in busy shopping spots and premier real estate sites. They usually did analysis of education levels, population density, income levels, sales projection and many other factors before they locate a store. Besides, parking space was a very important factor to sales of a supermarket, especially for Whole Foods that attracted higher income earners.
Company also acquired many small owner managed chain that were desirable for it but its biggest acquisition was the purchase of its biggest competitor, Wild Oats Market, in 2007
DIFFERENTIATORS:
Differentiation achieved Through:[pic]
• High Quality natural and Organic product • Customer Service • Health Care coverage • Environmental friendly (Go Green) approach • Social responsibility • Store Designs and environment • Efficient team members
STAGING:
Whole food market grew very fast and entered into new big cities and even new states.
ECONOMIC LOGIC:
Whole Food market gets return by charging premium prices due to unmatchable product quality and customer services.
What are the chief elements of the strategy that Whole Foods Market is pursuing? Use Strategy Diamond to explain this part.
ARENAS:
• Product: The company has a broad range of products including Natural and organic items
like beverages, snacks, frozen items, Meat and poultry, Dairy Products, Fresh Sea food, baked products, coffees, cheese and different supplements, etc
• Market Segment: Health Conscious People of many ages and ethnic group
Technology: Biodiesel Fuel for its Distribution Fleet Vehicles, Green power technology to reduce energy consumption
Geographical area:
• Geographically 3 countries 1. United states 2. Canada 3. Great Britain
VEHICLES:
Internal development and Acquisition:
Expansion of Company occurred initially by internal development. They Opened larger new stores and reallocated smaller old stores to bigger sites. Whole Foods preferred to locate stores in busy shopping spots and premier real estate sites. They usually did analysis of education levels, population density, income levels, sales projection and many other factors before they locate a store. Besides, parking space was a very important factor to sales of a supermarket, especially for Whole Foods that attracted higher income earners.
Company also acquired many small owner managed chain that were desirable for it but its biggest acquisition was the purchase of its biggest competitor, Wild Oats Market, in 2007
DIFFERENTIATORS:
Differentiation achieved Through:[pic]
• High Quality natural and Organic product • Customer Service • Health Care coverage • Environmental friendly (Go Green) approach • Social responsibility • Store Designs and environment • Efficient team members
STAGING:
Whole food market grew very fast and entered into new big cities and even new states.
ECONOMIC LOGIC:
Whole Food market gets return by charging premium prices due to unmatchable product quality and customer services.