Unit 3 Internal Analysis and Long-Term Objectives Case Study Analysis
School of Business
MT460 Management Policy and Strategy
Author: Gerald Short
Professor: Dr. Andryce Zurich
Internal Analysis and Long-Term Objectives
Company Name: Whole Foods Market
Topic of the Week: Internal Analysis and Long-Term Objectives
Synopsis of the Situation
Whole Foods Market is the world’s leading company in natural and organic food sales. Their growth and success is due to being highly selective about what they sell, they are also dedicated to high quality standards and their core values. They are also the first American grocer to be a ...view middle of the document...
3. The biggest opportunity for growth would be to expand in the European market where it is accepted more so than in the US. It also has a large population that has a more sophisticated organic foods market (Pearce & Robinson, 2013).
Selected Solution to the Problem
A solution for Whole Foods would be to increase their overall image, by increasing and changing how they are perceived by the general public they can increase their overall market penetration. Another avenue can be to bring more awareness to the organic food; doing this will also increase demand for organic products to do this they need to do more advertising instead of relying on word of mouth.
A disadvantage in this would be the immediate impact on the bottom line, however this can and will be offset by the increase in customer traffic through the stores. The long term affect could be very beneficial for the company’s overall image and brand awareness by the consumer, along with educating the customer about a healthier way of life. It could also be detrimental in the aspect that it doesn’t generate the expected sales and it could hurt their long term performance.
To implement this solution Whole Foods needs to advertise, they can advertise through several methods which are the local newspapers, radio station ads; they also could utilize flyers at some of the upscale businesses in the area. Another thing they could possibly do would be to utilize smaller single serving portions that could be sold in the lobbies of upscale businesses to millennials who are constantly on the go.
Another approach is long term, which is to launch a national advertising promotion by sponsoring health related events. Doing this will also drive up the demand for organic and natural foods, by sponsoring these types of events it also shows the companies willingness to be a part of the community and raising awareness about healthier living.
Recommendations and Conclusion
The best opportunity for Whole Foods to...