Whole Foods Swot Analysis Paper
After disappointing consecutive earnings in 2015, Whole Foods is approaching new target markets by introducing the 365 by Whole Foods in 2016. The purpose is to make available fresh healthy foods to the mass market in affordable prices. The catch is to attract young consumers who want to live a healthy lifestyle and shop organic food. "We want people who don't shop at Whole Foods to shop at 365” Jeff Turnas, president, explained to Los Angeles Times. It’s a smaller store with the intention to create a long-term relationship where shoppers would look for convenience while Whole Foods purpose would still be the same, communicating value to customers. Therefore, the strategy is to place the 365 stores in “America’s Hippest Hipster Neighborhoods”
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This means consumers are looking for variety and convenience, as a result competition keeps growing coming out with clever ways to offer great deals and promotions. There is a major concern with the 365 store locations considering to be near a traditional store. The idea is to eliminate any possibility of the 365 store to take sales from the main Whole Food stores. First, the executive team selects a marketing plan setting up the objectives and completing a SWOT analysis, important to identify the segmentation, targeting and positioning opportunities, then implementing the marketing mix. The purpose is to differentiate the new 365 store from the traditional store and pursuit a low-cost approach strategy. The first action is to change the food shoppers the perception of Whole Foods as the “whole paycheck”. Moving forward, the company analyzes the location (place) and determines if its suitable for the 365 concept. Forbes ranked Williamsburg, Brooklyn the third best hipster neighborhood in the U.S. The median age is 28, 55.3% of the population are not married and the average household income is $44,980. Food and health care are below average in consumer spending but it has a relatively high number compare to another spending. In the Walk Score site, Williamsburg scores high in the walk, transit, and bike in numbers of 96, 92, 84 respectively, very easy to get around. This trendy neighborhood is commonly known for food, drinks, art and music
This means consumers are looking for variety and convenience, as a result competition keeps growing coming out with clever ways to offer great deals and promotions. There is a major concern with the 365 store locations considering to be near a traditional store. The idea is to eliminate any possibility of the 365 store to take sales from the main Whole Food stores. First, the executive team selects a marketing plan setting up the objectives and completing a SWOT analysis, important to identify the segmentation, targeting and positioning opportunities, then implementing the marketing mix. The purpose is to differentiate the new 365 store from the traditional store and pursuit a low-cost approach strategy. The first action is to change the food shoppers the perception of Whole Foods as the “whole paycheck”. Moving forward, the company analyzes the location (place) and determines if its suitable for the 365 concept. Forbes ranked Williamsburg, Brooklyn the third best hipster neighborhood in the U.S. The median age is 28, 55.3% of the population are not married and the average household income is $44,980. Food and health care are below average in consumer spending but it has a relatively high number compare to another spending. In the Walk Score site, Williamsburg scores high in the walk, transit, and bike in numbers of 96, 92, 84 respectively, very easy to get around. This trendy neighborhood is commonly known for food, drinks, art and music