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The concept of Whole Foods Market appeared in the 1980s. It became the major movement across the United States and the key provider of healthy and natural food (Baldwin 169). Whole Foods Market stores can be located in 41 states, and their follower base on Twitter is around 4 million. The mission of this organization is to encourage a healthy lifestyle and supply clients with high-quality products (Thompson 11). The CEOs key objective is to transform Whole Foods into an international brand and become the best food retailer. The influence of this organization cannot be underestimated as they encouraged the US Department of Agriculture and Food Safety Inspection to review its definition of natural products (Thompson 12).
Moreover, this change allowed to turn the customers into ingredient-aware individuals. The practices promoted by Whole Foods helped to attract farmers and popularize organic farming. Consequently, the use of organic products at restaurants also grew. Customers were interested in purchasing pesticide-free fresh fruits and vegetables (Thompson 13). By 2014, organic food became available at the majority of the food stores and supermarkets with Whole Foods being the leading source of natural and organic products. This niche turned into the fastest-growing section of US food sales due to several reasons which include health-consciousness, consumer concerns, and positive effects of organic food (Thompson 13). The eight core values of Whole Foods Market became the cornerstone of the organizations major success and empowering practices aimed at transparency and honesty. The number of Whole Foods Markets stores grows in a geometric progression, and so do their sales.
One of the distinctive features of Whole Foods strategy is the location of its stores (Thompson 18). The key facilities can be found in large metropolitan areas. On a bigger scale, the organization takes into account population density, the level of income, and even education levels. Before opening a store, Whole Foods Market attempts to foresee the profits and evaluates the efficiency of the future store based on the costs and credible economic value (Thompson 18). Another important point is that all Whole Foods Markets stores are positioned in high-traffic locations, and it guarantees incomes that can be defined as above average. The organization is also persistent in terms of their product line strategy. The product mix is rather diversified and includes not only standard organic food brands but also private and exclusive brands (Thompson 21).
This approach differentiates Whole Foods from their competitors as they are keen on preserving and maintaining their quality standards. They guarantee customer satisfaction and client delight is the focus of their approach. The pricing strategy developed by Whole Foods Market allowed them to sell high-quality products at competitive prices (Thompson 22). Nonetheless, their prices were not acclaimed by price-sensitive shoppers because most of their products were considered overpriced. After that, the company was hit by the recession but was able to get back on the track and attract a vast number of new customers (Thompson 23). The brand received high marks from the merchandising experts due to its unique image and presence on the market.
It should be noted that Whole Foods spent a lot on marketing and advertising which helped the company to build a reliable image. The social media strategy of the company is immaculate as it helps the company to perceive their customers outlooks and preferences (Thompson 27). Overall, the team-based approach and decentralization became the two supporting factors that maintained the success of the company over the years and allowed it to provide its employees with relevant benefits, distribute products all over the country, and comply with the needs and wishes of the customers (Thompson 29). Despite the existence of numerous contenders, Whole Foods Market is still winning big, following its vision, and accomplishing objectives.
Works Cited
Baldwin, Cheryl. The 10 Principles of Food Industry Sustainability. Chichester, Wiley Blackwell, 2015.
Thompson, Arthur. Whole Foods Market in 2014: Vision, Core Values, and Strategy. Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases, Business & Economics, New York, 2015, pp. 1139.
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