wholefoods marketing blend essay
Wholefoods Marketplace Inc. (WFM) has successfully earned dual digits revenues over the past quarter of a century and are today known to be an innovator in the organic supermarket industry (approximately $4. 7 Billion industry) (Organic Trade Affiliate, 2014). All their Core Ideals include: 1) Caring regarding the community as well as the environment, 2) Promoting healthier eating and education to our stakeholders, 2) Selling highest quality organics and natural foods available, and 3) Creating ongoing win-win partnerships with this suppliers (Wholefoods Market, 2014a). The company can be steadily placed one of the leading socially accountable businesses and celebrates fourth ranking about Green Power Partnership by Environmental Protection Agency (Wholefoods Market, 2014b) Wholefoods Marketing Mix
Product
An average WFM provides over 2, 600 organic and natural products which include produces, seafood, grocery, meat/poultry, baked goods, prepared foods & catering, coffee & tea, nutritional supplements, body care, educational goods, floral, family pet food & products, and household goods (Wholefoods, 2014d).
Each shop is able to origin products through local dealers and suppliers, engaging in significant amount of local trade and merchandise sourcing.
In addition , the company also imports from international suppliers which might be carefully picked and satisfy WFM and local standards. WFM also offers a unique line of product called 365 Everyday Worth that meet Wholefoods quality standards. (Wholefoods Market, 2014c). Price
Natural and Organic foods include higher rates due to stringent regulations, authorization stamps ( e. g. USDA authorized organic), and shorter life. (Investors Group, 2012). WFM pricing is usually valued in line with the quality with the products they will carry. “The price from the product is regarded as through deciding the cost of making the product, the salaries of people producing the product, the cost of procedure and the additional expenses made in the creation of the product (Investors Group, 2012). With this price strategy WFM maintains and ensure the product to be of high quality and longer durability. The 365 Everyday Values gives buyers a choice to purchase WFM’s own brand at a lower cost and in 2011 the value company accounted for about 11% of total product sales. (Investors Group, 2012) Campaign
WFM includes a very strong Bundled Marketing Interaction (IMC) software. This is most likely one of major causes for their achievement. Some of the frequently employed promotion techniques includes: On the net promotion, Social networking, News Papers, Television, Mags, Public relations, Community Event, Benefactors, Contests, and their own shops and workers as brand ambassadors. WFM has often used their communication technique to engage clients and community and now heavily using social networking as a key tool to market their ideals to their clients. According for their website, WFM publishes about 1, 500 messages per day across 900 social media programs and their general social media impact on Facebook or myspace and Tweets is approximately six million ranking their brand as number 2 (Wholefoods Market, 2014e) Place
WFM offers 380 retailers across Canada, United Kingdom, and United States (Wholefoods, 2014e). With 73 places, California is by far has the maximum number of retailers that wholefoods operates in an individual state (Wholefoods, 2014e). This perfectly lines up with overall image of the state where diet and weight loss, organic food, and better living specifications are well attributes of the demographics and human population. This trend is generally viewed to be prevalent in areas where communities will be more focused on better living and wellbeing. In addition , the design of each store is unique to reveal the location and culture of local community. (Investors Group, 2012).
Where can be wholefoods with this Green/Greener/Greenest?
In my opinion WFM is at a green stage of sustainability. Although they have good initiatives in position at various levels of procedures including corporate and business functions, promoting, and community engagement, and native business expansion. However , there may be definitely a scope intended for improvement in multiple areas, some examples are listed below: Significant overall impact: Supply Chain (Transportation Cost), Building (usage of resources) Healthier products focus: currently the product probably natural or perhaps organic yet that does not important mean they can be healthier. At the. g. high sodium or sugar meals are available at their very own stores Showcase sustainability throughout the supply sequence: assisting provider or farmer by offering sustainability programs tosub suppliers or farmers
1
