What are the key elements of the strategy that WFM is pursuing?
The key elements of the strategy that Whole Foods Market has been pursuing is to expand their operations and grow their business. They have established themselves as a leader in the organic food market and have attained considerable market share and high profits. Their new strategy is to expand their product line in order to compete with their increasing number of competitors. They also want to create more locations and expand their geographic boundaries either by building new locations or by taking over other locations. This will in turn continue to increase their market share.
[...] WHOLE FOODS MARKET STRATEGIC MANAGEMENT Whole Foods Market Inc What are the key elements of the strategy that WFM is pursuing? The key elements of the strategy that Whole Foods Market has been pursuing is to expand their operations and grow their business. They have established themselves as a leader in the organic food market and have attained considerable market share and high profits. Their new strategy is to expand their product line in order to compete with their increasing number of competitors. [...]
[...] It isn't very focused as it is stated in a vague way. It is hard to measure if his vision is achievable as it would be difficult to measure if it is the best retailer. He would be able to measure if he is known nationally if he has locations in all areas of the country. Other then locations it would be difficult to know if Whole Foods is known nation wide. “Whole Foods, Whole People, Whole Planet” motto is We think the motto is good as it is showing that it is a company that is concerned with the people and the plant as well as the food they sell. [...]
[...] Working / Winning strategy? WFM recently chose to widen its range of products to conventional households products in order to attract more customers who would perhaps not be willing to make the effort to go to their stores to buy only organic products. In this perspective, this WFM's strategy seems relevant. However, by doing so, WFM partly loses its identity as an organic food retailer, and forgets its crucial need to differentiate from competitors such as Wal-Mart. Concerning WFM's positioning in organic foods, it has undoubtedly been a real success so far, and even the growing competition of conventional supermarkets, which have started to retail organic products, could serve the interests of WFM. [...]
[...] The vision of Mackey was to become a national brand and be regarded as the best food retailer in every community it served. The strategic vision should be graphic, directional, and focused. We feel that the vision of Mackey is not very explicit. What does it mean to want to become a national brand? Does he want to be known just over America? The vision was directional as he stated that he wanted to become a national brand and to be number one. [...]
[...] These customers have been loyal to them and is who they need to continue to market to. Also they should continue to put customer service first and to have a high quality service for their customers. Concerning the financial aspect of the group they have to open new stores in areas where there is demand for their type of business. They have excess cash so they are able to buy the new stores and develop them to be the best store in the market. SOURCE: Case of the Whole Foods Market Inc. [...]
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