Wholefoods Marketing Mix
Wholefoods Market Inc. (WFM) has successfully earned double digits revenues over the past 25 years and are today known to be a leader in the organic supermarket industry (approximately $4.7 Billion industry) (Organic Trade Associate, 2014). Their Core Values include: 1) Caring about the community and the environment, 2) Promoting healthy eating and education to our stakeholders, 2) Selling highest quality organics and natural foods available, and 3) Creating ongoing win-win partnerships with our suppliers (Wholefoods Market, 2014a). The company is steadily ranked one of the top socially responsible businesses and celebrates 4th ranking on Green Power Partnership from Environmental Protection Agency (Wholefoods Market, 2014b)
Wholefoods Marketing Mix
Product
A typical WFM carries over 2,600 natural and organic products that include produces, seafood, grocery, meat/poultry, baked goods, prepared foods & catering, coffee & tea, nutritional supplements, body care, educational products, floral, pet food & products, and household goods (Wholefoods, 2014d). Each store is able to source products through local traders and producers, engaging in significant amount of local trade and product sourcing. In addition, the company also imports from international suppliers that are carefully selected and meet WFM and local standards. WFM also offers its own line of product called 365 Everyday Value that meet Wholefoods quality standards. (Wholefoods Market, 2014c).
Price
Natural and Organic foods have higher prices due to stringent regulations, approval stamps ( e.g. USDA certified organic), and shorter shelf life. (Investors Group, 2012). WFM pricing is valued according to the quality of the products they carry. “The price of the product is considered through determining the cost of making the product, the salaries of people producing the product, the cost of operation and the other expenses made in the creation of the product” (Investors Group, 2012). With this
Wholefoods Marketing Mix
Product
A typical WFM carries over 2,600 natural and organic products that include produces, seafood, grocery, meat/poultry, baked goods, prepared foods & catering, coffee & tea, nutritional supplements, body care, educational products, floral, pet food & products, and household goods (Wholefoods, 2014d). Each store is able to source products through local traders and producers, engaging in significant amount of local trade and product sourcing. In addition, the company also imports from international suppliers that are carefully selected and meet WFM and local standards. WFM also offers its own line of product called 365 Everyday Value that meet Wholefoods quality standards. (Wholefoods Market, 2014c).
Price
Natural and Organic foods have higher prices due to stringent regulations, approval stamps ( e.g. USDA certified organic), and shorter shelf life. (Investors Group, 2012). WFM pricing is valued according to the quality of the products they carry. “The price of the product is considered through determining the cost of making the product, the salaries of people producing the product, the cost of operation and the other expenses made in the creation of the product” (Investors Group, 2012). With this