Whole Foods Market

Topics: Organic food, Whole Foods Market, Grocery store Pages: 8 (1462 words) Published: March 4, 2015
Whole Foods Market, Inc.

A. SIC/NAICS #’s - The SIC number for Whole Foods Market, Inc. is 5411, which implies grocery stores. The NAICS number for Whole Foods is 445110, which means supermarkets and other grocery (except convenience) stores. (Mergent Online) B. Mission Statement - Barbara Farfan who writes for about.com states, “The mission statement of the Whole Foods Company and Whole Foods Markets begins with its motto, which is "Whole Foods, Whole People, Whole Planet" The Whole Foods mission explains and defines what that motto means. This mission explanation includes..."Whole Foods - We obtain our products locally and from all over the world, often from small, uniquely dedicated food artisans. Whole People - We recruit the best people we can to become part of our team. We empower them to make their own decisions, creating a respectful workplace where people are treated fairly and are highly motivated to succeed. Whole Planet - We recognize the connection between our lives, our communities and the environment."” Based on this mission statement provided by about.com, Whole Food’s mission does satisfy all the requirements of an ideal company mission statement. Whole Food’s mission statement identifies the company’s products. The mission statement specifies the customer’s needs that it seeks to satisfy. Their mission statement also gives Whole Foods their own unique identity. C. Enterprise Strategy - According to Whole Foods.com, Whole Foods has several local and global enterprise strategies. Locally all Whole Foods stores donate to area banks and shelters. Then several times a year the stores will hold a “5% day”, where 5% of all their net sales are donated to a local nonprofit or educational organization. Furthermore, on a global level, Whole Foods has several foundations that work towards poverty relief in developing countries. D. Corporate Level Strategy - While Whole Foods does not tend to be very public with their corporate level strategy, it appears that they strategically try to eliminate their competition and in turn increase their brand. The website, Securityinfowatch.com has reported that the FTC has leaked the corporate strategy of Whole Foods. According to Securityinfowatch.com, Whole Foods has several current corporate strategies in use and many of these pertain to their competitor Wild Oats. Some of the strategies include; opening a Whole Foods store to cut revenue in a nearby Wild Oats store by 30% and buying and shutting down Wild Oats stores to increase revenue for Whole Foods by 85 to 90%. Furthermore, according to the FTC leak, Whole Foods has set ground rules that bar their suppliers from selling directly to Walmart, which in turn makes Walmart go through distributors and raise their prices. E. Business Level Strategy – The primary line of Whole Foods Market, Inc. is providing food products in a grocery store setting. Whole Foods competes within the supermarket/grocery store market by employing a niche differentiation strategy. They differentiate themselves by providing organic and natural products that are unique and valued to a certain market of people. However, due to their differentiation, they do tend to be higher in their price as compared to other supermarkets. According to the Whole Foods website there are currently more than 360 Whole Foods placed in North American and the United Kingdom. In addition, Whole Foods now offers online ordering. Furthermore, Whole Foods promotes their image through health and fitness magazines, online ads and product samples that are displayed throughout the stores. Due to their natural and organic product mix, Whole Foods does tend to only target customers who are physically fit and who have active lifestyles. F. Functional Level Strategies – Whole Foods has several explicit functional level strategies that include; production, customer service, and sales and marketing. As stated by Wholefoods.com, “We seek to create transparency from “farm to fork” with...

Bibliography: "Consumer Trends." Supermarket News Home Page. N.p., n.d. Web. 26 Feb. 2014.
Farfan, Barbara. "Whole Foods Markets Mission Statement - Motto, Mission, Core Values & Standards." About.com Retail Industry. Web. 21 Feb. 2014
"Grocery Stores." Market Report. N.p., n.d. Web. 26 Feb. 2014.
"We Serve and Support Our Local and Global Communities | Whole Foods Market." Whole Foods Market. Web. 21 Feb. 2014.
“Whole Foods Market, Inc.” Mergent Online. Web. 21 Feb. 2014.
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