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Management Analysis for Whole Foods Market - Essay Example

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Summary
Whole Foods Market formally introduced into the market its new marketing scheme - coupon program. The said coupon program covers the provision of specially priced product discounts as well as coupons in the market to tap price conscious shoppers of natural and organic foods…
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Management Analysis for Whole Foods Market
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Download file to see previous pages Whole Foods Market get suppliers that produce least processed, most flavorful and naturally processed food and organic products which consumers prefer the most.
Whole Foods Market has stores located mostly on urban areas and major cities to tap the most number of their potential and target customers. This is to ensure that the company will be able to maintain its market share and at least compete at par with its competitors that are mostly located on urban and major cities across the nation.
One of the main weaknesses of Whole Foods Market would be its expensive natural and food items relative to its competitors. Even though the company has been able to make various ways to amply cut down their market price, but still when compared it closely to its competitors like Trader Joe's, Whole Foods Market's products are relatively expensive.
Whole Foods Market failed to insulate, or at least minimize the adverse effects of economic slowdown of the country. This only suggests the degree of dependency of its growth from the economic condition of the country despite of the fact that it also operate abroad.
The increasing health and wellness consciousness of many consumers in the market makes natural and organic food items more in-demand to the market, thus, giving enough room for Whole Foods Market to expand by establishing more stores to accommodate more customers and generate more income.
The fast development of technology, software solutions like ChefTec which is primarily being used in inventory control and recipe and menu control, made Whole Foods Market to perform efficiently. The advent of new software solution indeed help Whole Foods Market to minimized their production cost and maximized their profit through achieving efficient operations.
Threats
The increasing degree of competition in the natural and organic food industry make it a lot harder for Whole Foods Market to optimally utilize the high demand of consumers for natural and organic food items in the market. With the growing number of stores of their competitors, Whole Foods Market started to experience declining profits and sales volume.
The economic slowdown of the country has also starting to penetrate the natural and organic food industry which directly affects the profitability of Whole Foods Market. Last August 2008, Whole Foods Market recorded a 31% profit drop in the market which was enough to shake their stockholders (McRoskey 1).
Works Cited
McRoskey, Ricky (2008) "Whole Foods' Big Markdown" 11 October 2008. Business Week. ...Download file to see next pagesRead More
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