Whole Foods Market

MKTG 3161- Section 03

Meghan Brieck, Nathaniel Vanginkel, Brittany Wear, Destiny Wright

Whole Foods 1

Table of Contents:

Executive Summary…………………………………………………………3-4

Situation Analysis

The Company………………………………………………………..4-7

The Industry.…………………………………………………………..7-9

The Market…………………………………………………………10-12

The Competition………………………………………………….12-17

Current Marketing Mix…………………………………………..17-19

Current Product Mix…………………………………...…………19-23

Current Pricing Policies……………………………………………...23

Current Promotions………………………………………………24-25

Current Distribution Strategy…………………………………...26-27

External Environmental Factors………………………………..28-29

SWOT Analysis……………………………………………………..30-36

Marketing Plan Objectives……………………………………………..36-38

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Marketing Strategy………………………………………………………39-40

Action Plans……………………………………………………………….40-51

Appendices

Proposed drafted Radio

Script…………………………………….51

Storyboard…………………………………………………………….5

2

Works Cited………………………………………………………..53-

54

Executive Summary:

Over the past decade Whole Foods has solidified themselves as

the natural food retailing industry leader. We hold our success to

providing the most value to our customers. At Whole Foods, we hold

ourselves to high standards and base all decisions on what’s best for

the better of our environment and our consumers.

We have 414 stores found within the United States, Canada, and

the United Kingdom and are continuing to expand our locations. We

sell over 2,600 different products and have numerous global and local

foundations. The combination of all these attributes and our loyal

consumer base have brought us to the success we now hold. While our

current competitors are growing, we still remain ahead because of our

well-known name in the market.

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Our target market is largely compiled of upper class, 18-35 year

old, employed individuals and families. Therefore; we build our

marketing strategies to reach our target market. We define our

objectives on the principle that we always provide valuable and

healthy products in order to retain customer loyalty. In today’s society

technology is part of our everyday lives, and at Whole Foods part of

our marketing strategy is to utilize this advancement.

After doing extensive research on the market, we have created

two separate action plans our company can implement in order to

reach these objectives. The first one is an “Online shopping” tool that

brings together technology and a brand new shopping experience to

consumers. Our second one is a customer rewards program. With

these two new plans, we predict future success for our company, with

increased profit and increasing our number of customers.

We believe these programs will increase our customer loyalty by

giving new incentives to shop at Whole Foods. Our continued success

and profits depend on our consumers. It is important that with new

competitors popping up, we continue to grow our customer base. We

need to continue to promote our unique products and shopping

experience, maintaining a superior level above all other competitors.

Situation Analysis: The Company:

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History:

What started off in Austin, Texas in 1980 as a dream of taking

the natural foods industry to the supermarket level has since then

erupted into not only Whole Foods Market, but also an entire new

market for natural and organic foods. At the time of that first store

opening, there were less than half a dozen natural food supermarkets

in the United States. Through expansion of its products, stores, and

target market, Whole Foods is now the world’s leader in natural and

organic foods, with more than 414 stores in North American and the

United Kingdom.

Mission Statement:

Our mission statement significantly reflects the views of our

company. "With great courage, integrity and love – we embrace our

responsibility to co-create a world where each of us, our communities

and our planet can flourish. All the while, celebrating the sheer love

and joy of food.”-Whole Foods Market

Corporate Objectives and Strategies:

Profitability-

Whole Foods has greatly increased its profitability within the past

few years. According to Whole Foods Market’s 10-K form for the fiscal

year ending on September 28, 2014, gross profit totaled approximately

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$5.0 billion, $4.6 billion and $4.2 billion in fiscal years 2014, 2013 and

2012, respectively. The basic EPS (earnings per share) has increased

from $.72 in 2010 to $1.57 in 2014, doubling in just four years.

Similarly, the ROIC (returns on investment capital) has increased from

12.9% in 2012 to 14.6% in 2014. All of these financial statistics are

proving that Whole Foods has been steadily increasing its profit at

greater intervals each year. This increase is assumed to be associated

with the “healthy” attitude that has grown in the U.S.; being conscious

of health decisions has become widely popular.

Community Image/Society involvement-

We are well known for our involvement within communities. The

Whole Trade® Guarantee labels products that are sourced from

developing countries and meet our high quality standards. This

provides more money to producers, ensures better wages and working

conditions for workers, and utilizes sound environmental practices (10-

K 2014). Along with this program, Whole Foods also has a commitment

to buying from local producers, which boosts local economies and

contributes to responsible land development and the preservation of

viable green spaces. We are also dedicated to promoting animal

welfare on farms and ranches. The Global Animal Partnership’s 5-

Step® Animal Welfare Rating Standards program is currently in all of

our stores in the U.S. and Canada. All beef, chicken, pork and turkey

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come fresh from producers who meet or exceed the requirements of

this certification.

Organizational Philosophy-

Due to our extensive community involvement and goal to better

lives through our products, it is easy to see that we have a clear focus

on societal marketing. No, you don’t see many advertisements for

Whole Foods in magazines, on television, or on billboards. What you do

see, however, is a company that is openly operating with a vision of a

sustainable future, where implementing this new vision begins with

changing the way one thinks about the relationships between our food

supply, the environment, and our bodies. Whole Foods Market makes it

clear that we make marketing decisions based on our consumers’

wants and society’s long-term interests—essentially, a sustainable

future with health and the environment as top concerns of the

consumers (10-K 2014).

Growth Strategies-

The majority of the recent growth for Whole Foods Market is

primarily due to store expansion and new store openings. We have a

disciplined, opportunistic real estate strategy, opening stores in

existing trade areas as well as new areas, including international

locations. Product development is also essential to the growth of Whole

Foods Market. Because food retailing is such an intensely competitive

market, our company must continuously design, create, and market

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new products and services in order to keep valuable customer

relationships and customer loyalty.

The Industry:

Defining the Industry:

According to the North American Industry Classification System,

Whole Foods Market is included in the supermarket and other grocery

(except convenience) stores (44511).

Growth patterns within the industry:

Demand Situation:

Demand in Whole Foods Market’s industry has been growing in the

past 5 years along with the economy. Since the economy has been

growing recently, people have more disposable income, which has lead

them to spend more money on healthy and organic food rather than

the cheaper alternative.

Per Capita Consumption:

Because food is essential to life, everyone is going to eat one way

or another. Because this is the case and demand is growing in the

supermarket industry, the per capita consumption in this industry is

very high.

Growth Potential:

The Supermarket industry’s potential for growth is extremely

great due to rising disposable income in the next few years although it

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will be at a lower rate than the previous few years. Whole Foods

Market’s growth is going to be as great or even greater because

demand for healthy and organic food is growing.

Characteristics of the industry:

Distribution patterns and traditional channels:

In the supermarket industry, distribution is often taken care of

exclusively by the company. The specific companies ship directly from

their warehouses to their stores from their own trucks. This distribution

system has evolved in the past few decades—previously, other third

party companies shipped it.

Regulation and control within the industry:

The United States prides itself on having the safest and cheapest

food supply in the world mainly due to all of the regulations. The

supermarket industry and really any industry dealing with food is very

strictly controlled. Regulations by the government have added costs

that are increasingly burdensome to the industry.

Public pressures/Societal concerns:

For the past few years there has been a movement in the

country to move towards healthier and safer foods. Society has

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become concerned about how responsibly the food they consume is

grown and how it will affect their health. This movement has helped

grow our company and customer base.

The Market:

Physical Descriptors:

Whole Foods was the first nationally certified organic grocery

store in the United States. We have over 2,600 natural and organic

products sold within our stores (Fast Facts). Whole Foods Market is

best known for a wide variety of natural and organic products, which

include: produce, meats, other foods, cleaning products, dietary

supplements, and body care products. Our mission is to provide the

highest quality natural and organic products to our customer. Our

customers and the planet are Whole Foods’ main concerns (We Satisfy,

Delight and Nourish our Customers).

Behavioral Descriptors:

Organic and natural foods and products are becoming more

popular. As the desire for organic and natural foods and products

increase, so does the demand for the products sold at Whole Foods.

Unfortunately, economic factors also contribute to the demand for our

products. Since organic and natural foods and products are more

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expensive, when the economy is down, the demand for these products

also decreases. This is because these types of goods are inferior

goods.

Positioning in the Mind of Customers:

Customers see Whole Foods as a high-end grocery store that

carries only organic and natural foods. Whole Foods is viewed as more

expensive than a typical grocery store, but you are paying for better

quality food. Compared to their competitors, they offer the highest

quality products, but also, the most expensive. So the customer is

paying a higher price for a higher quality product. Consumers know

what to expect before even walking in and make a conscious choice to

spend more money.

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(Perceptual Map- Google)

Product Alternatives:

Product alternatives for Whole Foods would be nonorganic

products sold by their indirect competitors, organic food sold by

generic grocery stores, is also a product alternative. With generic

grocery stores starting to carry more organic and natural products, this

means more competition for our products.

Shopping Alternatives:

There are several different shopping alternatives for Whole

Foods. These alternatives include a wide variety of stores. Some

alternatives are other organic grocery stores, such as, Trader Joes and

Sprouts. Other shopping alternatives are typical grocery stores, such

as, Ingles, Publix, and Kroger. Also stores like Wal-Mart and target.

Warehouse stores such as Costco’s and Sam’s Club are also shopping

alternatives.

The Competition:

Identification/Descriptors of Competitors:

The competition within the food retailing industry is highly

intense. The main competition for Whole Foods includes many other

companies who offer organic and natural products. These competitors

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include markets, warehouses, supermarkets, and more that are local,

regional, or national and are competing for customers, products, and

locations. These competitors will offer a similar experience and in some

way, promote a healthier lifestyle as well. The real competition lies

within the pricing differences and the number of locations each

competitor has. Customers are the factor most at risk, for they look at

these aspects greatly. As competition increases, it is important to

remember our advantages.

Direct Competition-

The direct competition for Whole Foods includes other companies

with a similar product assortment including: Sprouts Farmers Market

and Trader Joe’s Company. Trader Joe’s is privately held. Our direct

competition has shown in recent years that they are growing very

aggressively, specifically Sprouts Farmer’s Market. Other industry

grocery stores, such as Kroger and Publix offer competition as well but

these two companies listed are our main competitors.

The natural foods’ retailing industry leader is Whole Foods.

Currently Whole Foods has 414 active stores found within the United

States, Canada, and the United Kingdom ever since starting up

operation in 1980. Having been established over 30 years ago, we

know our way around the food retailing industry and have had both

positive and negative experiences. Research done within this industry

indicates that as of 2008, revenues increased to $7.9 billion and stock

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price increased by 800%. This increase shifted the stock price from

$10 to $80 per share, (INDUSTRY LEADERS.) Because Whole Foods is

the market leader, we are able to get away with offering slightly higher

prices than our competitors. We pride ourselves on offering premium

products, and our customers know they are getting the best of the best

when they walk through our doors.

The biggest Natural Foods’ retailing industry challenger against

Whole Foods is Sprouts Farmers Market. Sprouts Farmers Market was

founded in 2002 and currently has over 200 stores across the United

States. This company is expanding quite aggressively and seems to be

implementing themselves very successfully in the industry. They have

been growing rapidly and offer prices that are slightly cheaper than our

company. In addition to that, they show no signs of slowing down their

growth and continue to move across the country, (WFM Competitors.)

The food industry’s market follower would be Trader Joe’s. Trader

Joe’s does not have near the number of locations as we do and has not

grown as aggressively as Sprouts has over the years. Trader Joe’s

tends to be much smaller than Whole Foods.

Indirect Competitors-

Our indirect competitors include generic grocery stores like

Publix and Kroger and warehouse chains such as Sam’s and Costco.

But our main indirect competitor is Kroger. Kroger is not centralized to

organic and natural foods like we are, but they offer a high selection of

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specific natural brands, the most of any of our other indirect

competition. Kroger has 2,625 stores, meaning their number of

locations is highly greater than ours. Kroger may be more convenient

to some of our customers, location wise, however; we specifically

target our stores to where we know we are reaching our target market.

Market share by company-

Whole Foods is currently the leader in the natural food industry.

We have been able to successfully charge premium prices to

consumers due to the image we have projected of organic products.

We as a company have in turn created profitability much higher than

companies with non- natural products. Whole Foods holds a huge share

of the market, (WFM.)

Strengths of competition:

All of our competitors are highly respected in the natural food

industry, selling value products to their consumers. Our biggest

competitor being Sprouts is our direct competition that provides us

with pricing competition, competing for our consumers. Sprouts, being

a more recent company tends to price their products lower than we do.

In addition, they have shown tremendous growth over the past years.

This gives us worthy opposition and encourages us to promote our

value even more. This competition encourages us to improve our

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current stores and also to expand even more and do all of this

successfully.

Kroger, our main indirect competition, is highly marketed. Kroger

has over 2,000 locations and offers low prices all around. They are

known for their dedication to saving consumers money. Kroger offers

heavy promotion and has taken several measures to prove they are

committed to giving customers the best prices around. They offer a

Kroger Plus card and a fuel points system that saves customers money

every time they shop. Kroger has more recently built up their organic

and natural choices sold in store, even having small store sections with

only organic and natural products.

Weaknesses of competition:

Along with our competition’s strengths, come their weaknesses.

The biggest weaknesses for Sprouts are their lower number of

locations, lack of global awareness, and newness to the market. Whole

Foods is known globally and we have created numerous efforts to keep

our awareness current and frequent. While Sprouts does offer lower

prices, they do not necessarily offer the same quality we do, nor do

they have near the experience we have achieved. One key difference

is Whole Foods has a full service hot bar with a variety of food options

for breakfast, lunch, and dinner. When our customers come to shop,

they can also sit down and have a freshly cooked hot meal. While

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Sprouts has an olive bar and sushi area, they do not have this in depth

service in their stores and this is a weakness we benefit from.

While Kroger has low prices and numerous locations, they also

do not provide the same quality organic and natural products that we

do. Kroger is not specifically designed to sell only these types of

products like we are. Due to that, their selections are limited and this is

not their main source of profit. Customers do not go to Kroger for all

their specific organic and natural needs.

Extraordinary marketing mix activities of competition:

All of our competitors’ offer unique and successful marketing mix

activities. Sprouts has had excellent promotional efforts. They add

customers to email lists, keeping them up to date on all savings they

can find in store. In addition to that, they have “Deals of the Month,”

monthly specials. Kroger does similar sales promotions, but also has

their “Kroger Plus” card, which saves their customers money every

time they come in to shop.

The Current Marketing Mix:

Current service and/ or product:

Goods Classification-

Our goods at Whole Foods are consumer goods. Consumer goods

are goods that are purchased by an average person for their own

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consumption. All of our products are goods, which are to be bought

and consumed. Since the majority of our products are food, they are

non-durable. At Whole Foods, we do offer some services such as,

cooking classes. Whole Foods offers other retail goods, such as;

clothing and shoes, which are also specialty products. Our products are

specialty products, because they can only be bought from a limited

number of stores.

The Product Life Cycle-

Right now Whole Foods is at the maturity stage. Whole Foods

was introduced in 1980, with the first store opening in Austin, Texas.

From there we continued to grow our company and built more stores.

Now, in 2015, we have reached the maturity stage. Whole Foods has

been up and running for thirty-five years (Whole Foods Market History).

Our company is a well-known name and so are the products we sell.

We have 414 stores in the United States, the United Kingdom, and

Canada (The Numbers).

Sales for the fiscal years 2011, 2012, and 2013 have continued

to increase. 2011 sales were $10.1 billion, with a 10.4% increase. Sales

for 2012 increased by 15.7%. Sales for 2013 were $12.9 billion dollars,

with a 12.2% increase from the $11.7 billion dollars of sales from 2012.

Whole Foods continues to increase in revenues, and shows no sign of

slowing down (Whole Foods 10k).

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2011 2012 2013$0.00$2.00$4.00$6.00$8.00

$10.00$12.00$14.00

Sales Line Graph

sales

Fiscal Year

Sale

s in

Bil

lion

s of

Dol

lars

Product Mix-

Whole Foods offers a wide variety of products. Our main product

is our organic and natural foods. There are more than 2,600 different

natural and organic products sold in our stores over the United States,

United Kingdom, and Canada. (Fast Facts) We have a large product

length. We have an assortment of different kinds of foods, including

frozen foods, fresh meats, and fresh produce. We also sell other

products such as, drinks, shampoos, soaps, cleaning supplies, and

supplements. In addition, we offer cooking classes.

Our product depth is deep. We have our own product line, which

is 365 Every Day Value. This line was developed to make eating

organic and natural foods more affordable. Whole Catch brands, Whole

Foods Market, Engine 2 Plant Strong ®, and Whole Trade ® are some

of our own product lines. We sell a wide variety of different brands and

product lines (Featured Products).

Brand Equity-

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Whole Foods is a well-known brand in the United States. Whole

Foods is viewed as a high-end grocery store, which sells all natural and

organic products. We are seen as a different type of grocery store.

Other than the fact that it is high end, the products we sell are not in

most other stores. Recently other companies have started to become

popular, also selling natural and organic products, but they are not as

well known. Even though grocery stores are starting to carry more

organic and natural products, Whole Foods entire store is filled with

organic and natural products.

Another way we differentiate ourselves, is through our cooking

classes, salad bars, and our little “restaurants” within the store. This

sets us apart from our many competitors.

Product Research and Development-

The organic industry continues to develop with more research. In

2003 Whole Foods was the first “national certified organic” grocery

store in the United States (Whole Foods Market is America’s first

national Certified Organic grocer). We continue to research natural and

organic foods, so that the customers get the best food. Even though

the government does not require that products containing genetically

modified organisms (GMOs) to be labeled, we want our consumers to

know what is in the foods they are eating. We now have set a goal that

by 2018 all of our products will be labeled to indicate if there are GMOs

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in it. This goal makes us the first grocery store, to set a deadline to

have all of our products labeled if they contain GMOs (FAQ on GMOs).

Packaging/ Atmospherics-

Whole Foods sells many different brands of products, so each

company has their own packaging for their products. Whole Foods own

brands, keep the packaging simple and recyclable. Our products

normally come in green packaging, with the name of the brand and

product on it. Our products will state the benefits of the product and

that the packaging is recyclable.

Currently we do not offer customer benefits, but we are in the

process of developing and testing our new customer loyalty program

out in select stores in Pennsylvania. With this loyalty program,

customers will sign up to get a Whole Foods card. Every time they shop

at Whole Foods they will gain points. These points can be redeemed for

products and rewards. We believe that this program will help us sell

more of our products (Rewards).

Whole Foods has many different programs to help deal with

societal problems. We have Whole Planet Foundation, Whole Kids

Foundation, Whole Cities Foundation, and a Green Mission. Each of

these programs focuses on a particular societal need. Whole Planet

Foundation helps with poverty, internationally. We employ people who

are less fortunate, to help harvest our plants in their country (Whole

Planet Foundation). Whole Kids Foundation is geared to getting

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children to eat healthy foods, and enjoy it (Whole Kids Foundation).

Whole Cities Foundation is our newest foundation. It is a non-profit

organization, to help get healthy foods to the underserved. Just like

Whole Kids Foundation, Whole Cities Foundation wants to increase

healthy eating (Whole Cities Foundation).

Product’s Share of the Market-

(Supermarket Chains Fail HFCs Survey)

Current Pricing Policies:

Price History-

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At Whole Foods Market we have had to charge higher prices than

some of our competitors. Higher prices have been a result of us only

selling the highest quality of food possible. We feel that people

recognize the value of the products they are receiving, thus they are

understanding of our slightly higher prices.

Price Objectives-

As a company, our goal is to always maintain, if not increase, our

market share. Recently, we have had more players come into our

market segment. This increased competition has taken some of our

market share. We hope to keep our market share sufficient by

continuing to offer top of the line products and experiences at

competitive prices.

Applicable Discounts and Allowances-

On our website, we have a section called “The Whole Deal”

where we list ways to save money. That section contains a subsection

with delicious recipes made with our quality foods. We also have a

coupon subsection right there with coupons applicable to locations

near the specific customer using the site. We don’t stop there, though.

There is another subsection where we have other various tips to help

our customers save money.

Current Promotion:

Allocation of promotion mix-

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Generally, Whole Foods invests less in paid media and marketing

than other supermarkets. We allocate their marketing investments

among strategic national and regional programs and our individual

stores; and we benefit from valuable earned media, social media and

word-of-mouth advocacy. Social media is an important part of this

promotion mix—Facebook, Twitter, Instagram, and Google+ have over

9,000,000 friends, followers, etc. The company itself has the main

global brand accounts, along with most individual stores having

accounts also, to help build deeper community ties and cater to the

local customers wants and needs.

Predominant Type of Advertising-

As previously mentioned, we do not typically use media to

advertise. We are more concerned with our customers’ first-hand

experiences, which is why we have in-store product sampling. Booths

are set up and samples are given out to make customers more aware

of the products available to them. We also count on word-of-mouth

advertising. If there is someone in our store who is loyal to us, we hope

that they are also telling their friends and family about their

experience with us. We also have the in-store “restaurants” to further

this positive in-store experience.

Sales Promotion Techniques-

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At Whole Foods, we offer quite a few different techniques for

sales promotion. First, we offer sampling. Allowing a customer to try a

product before buying it will allow them to make their shopping

decisions based on things they know they like. It also gives the

customer a chance to buy something that they may not have bought

had it not been available for a free sample. This method keeps the

customers happy and willing to try new things, in hopes of them

purchasing more and continuing to return to our store.

We also use special pricing. Occasionally, we will offer products

that are discounted if bought together or in greater quantities such as

spices, granola bars, etc. These prices only last a limited time, so it

encourages the customer to buy these products because they are

getting a deal.

Types of Personal Selling-

We use personal selling a lot within our stores. We keep

employees on the floor well informed on our products so they can

answer questions and give suggestions to curious customers.

Sometimes, as with free sampling, the employees can even give a

demonstration of the product. Personal selling at Whole Foods benefits

us because we create relationships with our customers and fulfill their

wants and needs so that they will return to our stores.

Current Distribution Strategies:

Channel of Distribution-

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Whole Foods channel of distribution is a combination of the

conventional and contractual distribution channels. We purchase at

both regional and national levels, with the majority of purchasing

coming from local vendors.  Our stores are dedicated to purchasing

local products, with the purpose of stimulating the local economies,

while also maintaining a community oriented feel. The products we

purchase are sent to our own distributing sites. Whole Foods owns our

own produce procurement centers, four seafood distribution facilities, a

specialty coffee and tea procurement and roasting facility, 11 regional

distribution centers that focus on our perishable distributions, and 3

regional commissary kitchens and 5 bakehouses. All of these centers

are responsible for distributing products to our stores. Products that

are not distributed from our centers come from a combination of

specialty wholesalers and direct distributors, (Whole Foods 10K Form.)

How Distribution is Accomplished-

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We are in a long-term contract with our third party supplier,

United Natural Foods Inc. that will last until the year 2020. This

contract alone accounts for 32% of our company purchases. United

Natural Foods Inc. is our primary supplier of dry and frozen foods

(Whole Foods 10K Form).

Using both these channels of distribution is appropriate for Whole

Foods. Not only do we rely on our company to distribute our products,

but we also work with a number of local vendors. By using both

contractual and conventional systems, we are able to incorporate both

our vendors and ourselves. We use a vertical system of distribution,

which allows us to incorporate numerous and specific distributors. This

has made our distributors and our company highly profitable.

External Environmental Factors:

Whole Foods 27

Economic Factors-

Many people may believe that due to the recession we faced in

2008, and the ongoing economic turmoil, that Whole Foods has

suffered economically. This is surprisingly on the contrary. While

consumers in general tend to spend less during economic hardships,

Whole Foods has continued to grow rapidly. New locations have been

opened and our target market is still shopping with us. It is predicted

that Whole Foods will continue to grow and continue to solidify our

position as the industry leader.

Political/Legal Factors-

Whole Foods is highly dedicated to being globally responsible.

Each year we donate 5% of our after-tax profits to non-profit

organizations found all over the world, however; our international

operations do hold some risk. There are political and legal factors in

countries abroad that can affect our company. These factors include:

fluctuations in foreign currency, government regulations, and any

significant changes brought upon by economic, social, and geographic

factors. Government regulations in the food industry are growing

tighter and this can bring about legal issues that we could potentially

face if we are not careful, (Whole Foods 10K Form.)

Demographics-

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When selecting location areas, Whole Foods places stores in

upper middle class areas to appeal to this demographic. The stores are

targeted towards upper middle class employed people and each store

is distinctively designed for the area it is going into, (Whole Foods 10K

Form.) Careful consideration is taken when building a new Whole Foods

and as long as we continue to place them in these types of areas, we

will still be successful with our demographic. We place several

locations in cities to reach out to a diverse grouping of consumers. This

remains successful. In addition to that, the current health trends as

promoted by countless celebrities and organizations, keep our

consumers wanting to come back and try the more natural lifestyle.

Technological Influences-

As technology continues to improve, we are better able to spread

our mission to the entire world. We are also better able to transport

and deliver our products to the multiple regions we are located in. In

addition to that, newer technology including phone applications and

advancements in website design appeal to our customers. We are

better able to promote ourselves and engage our consumers. This has

been a true advantage to us considering our target market is all about

the Internet and convenience. Technological advances are helping us

and will continue to do so.

SWOT Analysis:

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Column 1 –

Statement of Internal

Strength

Column 2 -

Performance

1= Minor 5 =

Major

Column 3 –

Importance

1 = Low 5 =

High

Column 4

-

Strength

Index

Number

1 2 3 4 5 1 2 3 4 5

1. Organic and natural products X X 25

2. Green Mission X X 16

3. Whole Kids Foundation X X 6

4 Whole Planet Foundation X X 12

5. Online ordering and catering X X 8

6. Free store tours X X 6

7. Offer a list of gluten free foods

per store

X X 9

1. Organic and natural products are the main reason Whole Foods was

established. Their main purpose is to provide their customers with

organic and natural products, keeping in mind the main goal of a

healthier lifestyle. This is Whole Food’s greatest strength.

2. One of Whole Foods programs is the Green Mission. Recycling is

becoming more popular, and Whole Foods does an excellent job

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incorporating recycling within their company. They have clearly

marked trashcans to put specific items in such as; glass, plastic, and

paper, which gets the customer involved in their green mission (Green

Mission).

3. Whole Kids Foundation is working to get kids to eat healthier and

enjoy it. This is a strength because many parents want their kids to eat

healthy, but they struggle to do so (Whole Kids Foundation).

4. This foundation helps those in poverty by providing developing

countries opportunities for work. This shows Whole Foods dedication to

global problems (Whole Planet Foundation).

5. Whole Foods has a potentially great strength of online ordering and

catering. Since people are becoming busier, utilizing online services

are becoming more popular. Having online ordering and catering

attracts the very busy adults, who strive to eat healthy (Online

Ordering and Catering).

6. Offering free tours gets the potential customer into the store, and

shows them how to make shopping at Whole Foods affordable. It also

helps customers with food allergies learn to shop for their dietary

restrictions (Store Tours).

7. For customers with a gluten free diet, an online list is a huge benefit

for them. They no longer have to search the store for their specific

product to find that it is not sold there. This will attract a large amount

of customers who eat a gluten free diet (Gluten Free Product List).

Whole Foods 31

Column 1 –Statement of Internal

Weakness

Column 2- Performance

1= Minor 5 = Major

Column 3 – Importance

1 = Low 5 = High

Column 4 -

Weakness Index Number

1 2 3 4 5 1 2 3 4 51. Government does not

subsidize organically grown corn.

X X 12

2. Supply chain for organically grown food cannot support American needs.

X X 20

3. Pricing. X X 25

1. Currently, the U.S. government subsidizes corn growers, but not

those who do so organically. This encourages the farmers to grow their

corn non-organically. With fewer farmers growing organic corn, the

price goes up tremendously and also restricts the supply in the market.

2. The supply chain for organically grown food is very weak at the

moment. Since this is a fairly new movement in mainstream society, it

will take some time for the supply chain to develop enough to meet the

needs of Americans.

3. With organic food taking more time to grow and also being more

costly, this leads to Whole Foods having to charge higher prices to

Whole Foods 32

make profits. When the supply chain catches up, the prices may go

down some but it might not be enough.

Column 1 –

Statement of External

Opportunity

Column 2 -

Performance

1= Minor 5 =

Major

Column 3 –

Importance

1 = Low 5 =

High

Column

4 -

Opportu

nity

Index

Number

1 2 3 4 5 1 2 3 4 5

1. Less competition than normal

grocery stores

X X 9

2. Whole Trade® Guarantee

Program

X X 9

3. Changing the attitude that

healthy food is expensive

X X 6

4 Promote/build brand identity with

organic foods, when people think

“organic” they think “whole

foods”

X X 16

5. Promoting local farmers, people

will pay more for local

X X 8

6. Exposing the company overseas X X 12

7. Advertising/promotion/rewards X X 15

Whole Foods 33

1. Because Whole Foods is an organic food distributor, they have less

competition than stores such as Walmart, Kroger, Publix, etc.

2. The Whole Trade ® Guarantee Program ensures that each item

marked meets the following criteria: Meet our strict product Quality

Standards, Provide more money to producers, ensure better wages and

working conditions for workers, Care for the environment, Donate 1%

of sales to Whole Planet Foundation® (Whole Foods Website).

3. Yes, sometimes, organic foods can be more expensive. We need to

change the negative attitude about this, you pay for your value and

those that shop at Whole Foods are being insured value, which

customers should appreciative.

4. Brand identity is important—we want people to think Whole Foods

whenever they hear “organic” foods.

Column 1 –

Statement of THREATS

Column 2 -

Performance

1= Minor 5 =

Major

Column 3 –

Importance

1 = Low 5 =

High

Column

4 -

Strengt

h Index

Number

1 2 3 4 5 1 2 3 4 5

1. Competitors X X 20

2. Government Regulations X X 16

Whole Foods 34

5. People will support local—their friends, family, and others in their

community. If Whole Foods promoted more local farmers, many people

would be more willing to pay the higher prices.

6. We help workers overseas where we receive products from—but

why not extend our brand to other countries in Europe, Asia, etc.?

7. Advertising/promotion/rewards is one of the most important parts in

helping to build customer relationships. We want our customers to be

loyal and show them how much we appreciate them, as well as bring

more in.

1. Other grocery stores and supermarkets are now selling organic

foods. Stores such as Kroger, Wal-Mart, and Publix are now engaging in

more environmentally friendly products. In addition to that, other

organic stores are now popping up including Sprouts and Trader Joes.

The problem here is that one of these stores could be more convenient

to consumers and thus they will choose their products over Whole

Foods. Organic food is becoming increasingly popular making the

competition tighter. Companies have seen Whole Foods have success

with higher prices and are now trying to mimic the technique.

2. If the government were to change any regulations on organic food,

this could affect pricing. More regulations create higher prices. In

addition to that, if Whole Foods were to not follow specific regulations

Whole Foods 35

they could face a lawsuit. Organic foods come with many regulations

that are very specific and have many needs that must be met. In

addition to food regulations, Whole Foods being international must also

face differing government regulations outside of the United States.

Marketing Plan Objectives:

Description:

From a financial perspective, the goal of Whole Foods Market is

to become secure to continue enriching the lives of our employees,

consumers, and the Earth. This can be achieved by making our brand

known and respected. We want to become a more visual store and

hope to do so by increasing the number of our stores across the

country. We are lacking in locations in the mid-west and northwest

United States. We plan to take steps to change this by testing the

market in those areas as well as figuring out the logistics of planting

new stores there.

Financial Objectives:

Return on Investment-

We tend to be below the average in our sector in Return on

Investment (csimarket.com). The last quarter of 2014 we had a ROI of

12.90 percent. This was an increase of .52 percent from the previous

quarter. We are headed in the right direction and intend to stay on that

Whole Foods 36

path. We would like to see a jump of 4 percent on our ROI this year.

This is a big goal, but it is very attainable.

Profitability-

By all quantitative aspects, Whole Foods Market continues to be

a profitable company. We plan on maintaining this reputation by

continuing to increase our profitability. To do this we want to increase

our ROI and ROA while decreasing our Asset Turnover Rate. If we

achieve these goals, we will be in a fantastic position.

Cash Flow-

We want to make sure to maintain a positive cash flow by

always having enough cash on hand to take care of any possible

foreseeable expenses. The specific amount of money is not important,

what is important is the fact that we cannot invest more money than

we are willing to lose. If we stick to this philosophy, our company is

sure to maintain its financial security.

Marketing Objectives:

Average Unit Price-

As is essential in increasing profits, we desire to decrease

expenses. As expenses decrease, we will have more room to decrease

the average unit price. With a lower unit price, we expect higher sales

volume.

Sales Volume-

Whole Foods 37

Obviously sales volume is one of the easiest ways to value how well

a company is doing. In the fiscal year of 2014, we had $14.2 in sales.

We hope to increase these figures for the fiscal year 2015. Previously

stated plans for marketing and expansion will help us achieve these

goals.

Consumer Awareness-

We believe there is still a massive consumer population we haven’t

reached. In order to reach these consumers we want to focus on

advertising and doing research on the target market.

Market Penetration and Coverage-

We believe we have penetrated our target market sufficiently as

evident by Whole Foods Market being the World’s leading retailer in

natural and organic foods. We are also the leader in our market

segment. This being said, contentment is not an option. There are

always more customers to reach and improvements to be made.

Marketing Strategy:

Description:

Whole Foods Market is dedicated to reaching customers

dedicated to being responsible for themselves and the Earth. We want

to extend our customer base as far as possible. The world we live in

does not do enough to promote a better tomorrow for consumers and

the world at large, this is where Whole Foods Market steps in. The

Whole Foods 38

following will detail how we expect to broaden our market and increase

the worth and reach of our company.

We want to offer consumers the best grocery shopping

experience available. At Whole Foods, we believe busy lives cause

people to sacrifice their health for unhealthy fast food. We are working

on a way for consumers to submit their grocery list to one of our stores

online and come in to pick it up at their convenience. If we can make

consumers lives easier while promoting our brand, it is all worth it. This

program is expected to be extremely successful as we plan on testing

it in stores nation wide.

As we grow, we are making plans for customers not accustomed

to our stores. For customers who are new to Whole Foods, we are

starting a project to encourage loyalty by offering services based on

their purchases. We realize a Whole Foods Market can be intimidating.

To address this issue, brand new customers will get a free personal

tour of their local Whole Foods Market just for signing up for our loyalty

card.

Action Plans:

Action Plan One:

Whole Foods is the leader in the Natural Foods Industry amongst

its competitors. We offer a wide variety of organic and natural products

ranging from all foods to hygienic products. Whole Foods already offers

Whole Foods 39

intangible services such as cooking classes and store tours. We also

offer an online shopping option, which is not fully developed. The

online shopping has a limited amount of options and we can expand

this service even further. We at Whole Foods believe this is a unique

opportunity that will add to the shopping experience we provide to our

customers. We plan to implement a new, more personalized online

shopping service, which will save the customer time. By implementing

this plan, we will increase customer loyalty and thus sales revenue.

Objectives-

1. Offer a time saving shopping method

2. Reach a target market of individuals between the ages of

eighteen to thirty and households in the upper class

demographic

3. Implement the program by starting with the ten locations in

Georgia to test the market

4. Have revenue success and expand the program to all four

hundred and fourteen stores in The United States, The United

Kingdom, and Canada.

5. Raise money for our foundations

Product-

In this case our product is a service. Our customers will be able

to go online, select the online ordering tab, and then choose their

location and store.  From there, they will be able to create their own

Whole Foods 40

personalized grocery list from the complete list of products within that

specific store. This tab will simply be called “Online Grocery Shopping.”

The customers can add a minimum of ten items to their list and a

maximum of fifty. They will be able to save their list and return to it

periodically before submitting it to Whole Foods. There will also be the

option of selecting one of our online recipes and adding the ingredients

to the shopping list. Once the grocery list has been submitted, a Whole

Foods employee will then be designated to gather the items on the

customer’s list. They will properly store the items based on whether

they need to be frozen, refrigerated, or kept at room temperature.

Our customers who participate in this “Online Grocery Shopping”

tool must order three hours before set pick up time. In addition to that,

customers will be able to order two weeks in advance. Once the

customer is ready to submit their order, they will be prompted to

provide their email and phone number. A receipt of their order will be

sent to their email. The customer will also be asked how they would

like to be reached in case an item is out of stock, there is a question

about their order, and when their order is ready for pick up. They will

be able to choose if they want to be reached through text message,

email, or phone call. They will only need to submit this information

once and it will save automatically. From there, customers then choose

their method of payment. Customers have the option of paying online

or paying when picking up. All of this information will be listed on our

Whole Foods 41

website so customers know exactly what to do. We will provide a video

tutorial teaching customers how to use this service and what to expect

from it.

In addition to customers being able to go online and use this

service, we will have created a phone application to make it even more

convenient to use. The application will be separate from our other

applications in order to test the market in the simplest way possible.

After evaluation, it will be compiled into our existing “Whole Foods”

application. The application will be called “My Whole Foods Shop,” and

on this application customers will have all the same features that are

on the website tab. They will be able to set their location, compile

ongoing grocery lists from store products and recipes, make a

payment, and complete service reviews. Customers can create their

account on either this application or online and the information will

automatically sync to the other. Our customers will be able to utilize

both methods without having to start over.

Price-

There will be a ten percent service charge placed on all orders.

This money will go towards our global foundations: Whole Kids

Foundation, The Green Mission, Whole Planet Foundation, and Whole

Cities Foundation. Customers can select which foundation they would

like their fee charge to go to when paying for their order.

Whole Foods 42

On the other hand, we as a company will need to potentially hire

a minimum of two new employees per location, specifically designed to

gather the shopping items and distribute them to the customer. We

will start the service by training current employees. Based on how

successful this goes, we will conclude whether or not new employees

need to be hired. When it comes to the customers’ items, all items will

be placed in the back storage area where there are freezers and

refrigerators.  

Place-

We will begin this program in the ten locations within Georgia.

With the intent that our plan is successful, other stores will adopt this

service. From Georgia, we will begin our expansion by locating in

different regions. Based off customer feedback and our profits, we will

conclude whether or not to continue this service. From that, we will be

able to make adjustments to perfect the service and prepare it for

expansion.

Promotion-

We will promote our new service by taking advantage of social

media, including: Instagram, Facebook, email, and twitter. By using all

of these social media outlets, we are highly likely to be successful at

reaching our entire target market. We will upload photos and

announcements that detail this exciting new service. In addition to

social media promotions, we will have signage placed at the front of

Whole Foods 43

the store where customers walk in and also at the checkout areas. This

will ensure all customers will have seen and heard about the new

shopping opportunity before leaving one of our stores. Adding to that,

we will have multiple hanging signs in each of the ten locations,

dispersed throughout the stores.  

Our largest promotional tool will involve a customer discount on

their first use of the online service. When customers check out and are

given their receipt, there will be a promotional discount code provided

at the bottom. This code will encourage customers to test out the

“Online Grocery Shopping,” by giving them a ten percent discount on

their final total when checking out. This gives the customer an

incentive to try out the new service. We are hoping this will reach our

upper middle class target market.

Timing-

We will begin by building onto our website and create our

“Online Grocery Shopping” service. At the same time as doing this, we

will begin training employees for this specific service. Once the service

has been finalized online and our employees are trained, we will begin

our promotional efforts. After one month of promotion, we will open the

service to our customers.

Each week, we will collect our customer feedback and evaluate

our online sales but will not make adjustments. These weekly

evaluations serve the purpose to give us suggestions on improvement

Whole Foods 44

when we re-evaluate in three months. Customers will receive an

automatic follow-up email after picking up their groceries and/or a

notification from the application if they so choose to download it. If

they complete the survey they will receive at five percent discount off

their next online order. At the three-month mark, we will then compare

the results to last years’ sales to gage if this service has been

successful with meeting our objectives.

Contingency Plan-

We will begin by looking at how the online grocery shopping is

being utilized. Our goal is to have the use of the service grow by five

percent each month, because one of our objectives was to offer a time

saving shopping experience to our customers. We will also look to see

how many repeated users there are. We will evaluate this progress

after three months of the service running. If there is not a five percent

increase in usage per month we will have to adjust our service to

better fit the needs of our customers. We will go about this by

analyzing the feedback customers filled out throughout the past three

months.

If we find that we are not obtaining new customers, we will

increase promotional efforts in order to reach new customers. If we

find that we are not having success, we will implement a “reward.” At

this three month mark we will reward repeated customers by offering

them an in-store “prize,” if you will. This reward will be a free cooking

Whole Foods 45

class. With this reward and increased promotional efforts, we plan to

increase customer loyalty and grow our customer base.

Action Plan Two:

At Whole Foods, customer loyalty and happiness are an important

factor in making decisions for our company. Because we are the leader

in the natural foods industry, we take pride in having customers that

frequently visit and spread the word whether it be word of mouth,

social media, etc. To increase customer loyalty and satisfaction, we are

planning to create a customer rewards program with a points system

that can be redeemed for different rewards at the customers’

discretion.

Objectives-

1. Offer a rewards program with redeemable “points.”

2. Points can be redeemed for discounts on products and in-store

shopping guides to help guide customers on products that fit

their diets, routines, etc.

3. Create a smart phone app/website for customers to track points

and redeem them for the rewards.

Whole Foods 46

4. As customers receive their rewards, they will continue to be loyal

customers and hopefully encourage others around them to do

the same.

5. Revenue and sales increase, thus expanding growth.

Product-

The “product” of this action plan is more of an intangible

product, or a service. In creating a customer loyalty program that

offers rewards, we are ensuring that customers feel appreciated and

know that they are receiving the best value for their money. The

program will work by having customers scan their rewards card during

checkout, and upon doing so, their rewards points will be automatically

updated to their account, which can be view and tracked through the

smart phone application. Customers must wait at least 24 hours to

redeem points received from the current checkout.

The points system will not be based on the products that are

bought, but more by the money that was spent. Some products are

more expensive than others, and we want customers to realize that in

buying these products, they are receiving value that parallels with the

price. For every $10 spent, a customer will receive 1 rewards point.

The idea is that the customer lets the points add up over a period of

time so that they can receive a larger discount when used.

There are two options for which points may be redeemed: 1)

Dollars off a total buy at checkout or 2) in-store shopping guides. For

Whole Foods 47

the first option, every point represents $1 off. For example, if someone

spends $60, they receive 6 points, thus $6 would be the total dollar

amount off they receive onto their account to be used whenever. The

in-store shopping guides would be employees specially trained to help

a customer with any dietary restrictions or preferences. These

employees would provide a consultation with the customer for 15-20

minutes before beginning their shopping. They would then escort the

customer around the store helping them pick out products that meet

their needs and give them the best value. These tours would be 100

points. This may sound like a lot, however an average family of 4

spends anywhere from $100-$300 per week on groceries, so the $1000

for 100 points adds up faster than one may realize.

Price-

The price of this customer rewards card will be $50 per year for

the first three years, and then the card will go down to only $10. This

will provide an incentive for a customer to keep using the card so they

are ultimately receiving a vast amount of rewards for only $10 a year.

Many competitors give loyalty cards to customers for free, however at

Whole Foods, we provide more savings than other companies; we feel

that charging customers for a rewards card would ultimately pay off

Whole Foods 48

very quickly for them, and we would use the profit from each card to

go towards our global foundations.

Place-

We want this system to be one that is universal across all Whole

Food’s Market locations. This being said, the program is going to be

very effective when linked to the Whole Food’s app. With this

compatibility, our customers can view how many points they have,

how many points they need, and the closest Whole Food’s Market

location. We feel that this will be very essential to retaining our

customer base. The appeal of an app and the discounts from the points

will be even greater motivation for our consumers to stay loyal and

promote our brand.

Promotion-

Promoting this new points reward system is essential to the

success of the program. To achieve maximum visibility and availability

to the consumers, we hope to have signs and ads in all of our stores

and on local television stations. This will assure that loyal customer

and new customers alike will see the advantages to be had from the

new system. We are sure that once our present customers realize the

usefulness of the app that they will share it with their friends, which

will grow our customer base even further.

Timing-

Whole Foods 49

We are hoping to have our plan in effect within the next year. We

will first have our app developers go in and modify/update the current

app to include the rewards program. This may take a few months, and

we are prepared for that. Once the app is ready to be released, it will

just be a matter of getting the rewards cards out to our customers. We

will advertise them soon so that when the program is ready, customers

will already be informed about it and deciding to purchase it. We are

hoping that our plan will be in full effect with many customers enrolled

in it within the next three years.

Contingency Plan-

If the program does not take off within the time we are hoping

for, we will have to make a few changes to the program. The first

change we would plan to make would be to decrease the price of the

rewards card for a certain amount of time, so that we could get some

customers enrolled. The second idea we would have would be to make

the card free for a limited time, encouraging customers to get it while

they can. This time would be very short, as in less than a week. We are

hoping that because this is a rewards program to help customers

receive discounts and other rewards, that we will not have a problem

getting it started and working.

Appendices:

Radio Script:

Whole Foods 50

“Attention! This message is for anyone who eats food!

Have you ever wanted to eat organic and natural foods, but did not know where to start?Are you worried you cannot afford it?

Well Whole Foods has a solution for you. With our new rewards system we make eating organic and natural foods easy and affordable.

When you sign up for a Whole Foods reward card you get a 15-minute tour. We will show you all the ins and outs of our store and you will be ready to shop in no time.

Every time you purchase food at Whole Foods you receive points to put towards more food.

Now there are no more excuses for not getting healthy!

Stop by your local Whole Foods today to sign up for your Whole Foods rewards card. “

Storyboard:

Mom gets home from work and realizes The daughter is not very happy about thisshe doesn’t have groceries for dinner! She says, “But Mom, we had take out the She says to her daughter, “Looks like we past three nights”. The mom replies saying,are getting take out again.” “I’m sorry sweetie, but I am so busy with

work that I don’t have time to go grocery

Whole Foods 51

shopping”.

The mom is suddenly remembers The mom shares the news with her one of her coworkers was telling her daughter! They both are very excited andabout how you can order your groceries cannot wait to have home cooked meals.online from Whole Foods. She runs over The mom says, “Whole Foods online to the computer to order her groceries. ordering makes it possible for working She says, “This is so easy and so simple. parents to get healthy groceries, withoutWe won’t have to eat take out every taking up their time”. night now”.

Works Cited:

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https://www.wholekidsfoundation.org 1/28/15

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https://www.wholefoodsmarket.com/online-ordering 2/15/15

http://www.wholefoodsmarket.com/service/store-tours 2/15/15

http://www.wholefoodsmarket.com/service/gluten-free-products-list 2/15/15

http://www.wholefoodsmarket.com/company-info/whole-foods-market-history 3/23/15

http://media.wholefoodsmarket.com 4/2/15

Whole Foods 52

(Spring 2012). Perceptual Map. Retrieved from https://www.coursehero.com/file/6974348/perceptual-map/

https://www.wholefoodsmarket.com/about-our-products/our-product-lines 4/2/15

http://media.wholefoodsmarket.com/news/whole-foods-market-is-americas-first-national-certified-organic-grocer 4/2/15

http://www.wholefoodsmarket.com/about-our-products/product-faq/gmos 4/2/15

https://rewards.wholefoodsmarket.com 3/1/15

(October 17, 2013). Supermarket Chains Fail HFCs Survey. Retrieved from http://www.environmentalleader.com/2013/10/17/supermarket-chains-fail-hfcs-survey/

http://www.wholefoodsmarket.com/careers/our-values-and-mission 3/28/15

http://media.wholefoodsmarket.com/fast-facts/ 2/15/15

http://www.wholefoodsmarket.com/mission-values/core-values/we-satisfy-delight-and-nourish-our-customers 1/20/15

Whole Foods 10K Form. Retrieved April 10, 2015, from https://www.wholefoodsmarket.com/sites/default/files/media/Global/Company%20Info/PDFs/WFM-2013-10-K.pdf

http://www.wholefoodsmarket.com/online-ordering 2/1/15

http://www.wholefoodsmarket.com/service/store-tours-1 2/1/15

INDUSTRY LEADERS. (n.d.). Retrieved March 30, 2015, from http://naturalfoodsinvestor.com/industry-leaders/

WFM Competitors | Whole Foods Market, Inc. Stock - Yahoo! Finance. (n.d.). Retrieved April 13, 2015, from http://finance.yahoo.com/q/co?s=WFM

Whole Foods Market (WFM). (n.d.). Retrieved April 11, 2015, from http://www.wikinvest.com/stock/Whole_Foods_Market_(WFM)

Whole Foods 53

Whole Foods 10K Form. Retrieved April 10, 2015, from https://www.wholefoodsmarket.com/sites/default/files/media/Global/Company%20Info/PDFs/WFM-2013-10-K.pdf

Whole Foods Market Inc. (2015, January 1). Retrieved April 20, 2015, from http://financials.morningstar.com/ratios/r.html?t=WFM

WFM's ROI over the last five Years. (n.d.). Retrieved April 20, 2015, from http://csimarket.com/stocks/WFM-Annual-Return-on-Investment-ROI.html

Newsroom. (2015, January 1). Retrieved April 20, 2015, from http://media.wholefoodsmarket.com/fast-facts/

Whole Foods 54