Company Strategy: Whole Foods
On the surface, Whole Foods has a unique, almost counterintuitive philosophy. Rather than stressing value and volume in terms of food sales, it instead offers more expensive organic and specialty goods. However, its niche marketing strategy has proven to be extremely lucrative. Whole Foods is an interesting case study as a company in the manner in which it has simultaneously capitalized upon popular trends in food without trying to be 'all things to all people.' In 2013, the company had same-store sales growth of 7.5%. It has rapidly expanded: "the company's growth strategy is to seek new locations for its stores in highly populated, often urban, areas. Each store averages around 38,000 square feet, and about 30% of the company's stores were acquired, meaning that they were other health-food stores that were bought out and re-branded as Whole Foods" (Frankel 2013).
Whole Foods' vision and mission statement affirms its commitment to organic produce, sustainable practices (including recycling) and minimizing waste. Its website proclaims: "We believe that companies, like individuals, must assume their share of responsibility as tenants of Planet Earth" (Our mission and culture, 2013, Whole Foods). It has also pledged to support community organizations such as food banks and contributes 5% of its total net profits to not-for-profit...
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