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World Foods Market Marketing Essay

3782 words - 16 pages

Memo-
To: Cheval Breggins, VP of Marketing
From: BETA Consulting Marketing Team
Date: June 30, 2014

Re: Whole Foods Market Marketing Strategies

Mr. Breggins,
BETA Consulting performed an in-depth analysis of Whole Foods Market to determine the most effective marketing strategies to sustain the company’s competitive advantages when entering the East Lansing, Michigan market. A detailed plan has been formulated explaining how Whole Foods Market can take advantage of opportunities in the market while avoiding the pitfalls of choosing the wrong marketing strategies. This report encompasses an overview of internal strengths and weaknesses, external opportunities and threats, and ...view middle of the document...

S. food sales. Currently, 93 percent of organic food sales come from conventional and natural food stores and the other seven percent come from food markets. (USDA ERS - Organic Agriculture: Organic Market Overview). As the organic food market grows, mainstream grocery stores add more products to accommodate consumers looking for organic products. Whole Foods Market could be considered a pioneer in the natural food market because in 1978 John Mackey borrowed $45,000 from friends and family to open a natural foods store called SaferWay. The next year his company merged with another natural grocery leading to the establishment of the original Whole Foods Market (Whole Foods History, 2014). Whole Foods Market continues to be a leader in the natural foods market constantly adding new products and fulfilling their customers’ needs.
Whole Foods Market began expanding out of their native home of Austin Texas in 1984 and has continued to grow across the country and around the world ever since. Whole Foods Market has encountered many obstacles throughout their expansion from floods to entering markets in different countries. Whole Foods Market has been able to sustain their growth because of strategic acquisitions and dedicated employees who are stockholders in the company (Whole Foods History | Whole Foods Market Market). Whole Foods Market continues to show strong signs of growth, including ten new stores, 21 new leases, and a record $4.2 billion in sales in the first quarter of 2014 (Whole Foods Reports First Quarter 2014 Results).
Whole Foods Market now has the challenge of entering the East Lansing, MI market with little advertising and strong competition. In order to combat the competition Whole Foods Market will need to utilize their private labels to increase margin and brand loyalty. Word-of-mouth advertising will help Whole Foods Market to encourage potential customers to give their products and services a try, plus their uniqueness, customer service, and quality will keep them coming back. Whole Foods Market also offers classes on meal preparation and shopping their stores on a budget, which could be instrumental in attracting a large customer base in East Lansing. The sections below will provide the SWOT analysis with sectors concerning the marketing strategies in bold and recommended marketing strategies for Whole Foods Market to be successful in entering the East Lansing market.
Internal Strengths on Which to Capitalize –
According to Whole Foods Market Market’s 2013 10-K report, there are a number of internal strengths to the company.
Demographic-Socioeconomic Positioning Strategy
• All organic foods sold by Whole Foods Market are verified by an accredited certifying agency under the United States Department of Agriculture’s Organic Rule which was implemented into Federal law in 2002.
Demographic-Socioeconomic Positioning Strategy
• The Eco Scale TM is an exclusive rating system that measures green standards to...

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