Whole Foods Marketing - Promotional Plan
Whole Foods Marketing Promotional Plan
Whole Foods Markets is based on a highly differentiated value proposition of delivering fresh fruits, vegetables and other perishable products to its customers based on localized supply chains. This approach has given the company significant competitive advantage both from a cost and supply chain standpoint in an industry highly dependent on the efficiency of how perishable products are managed from supplier to store shelf (Lewis, 2006). Whole Foods' timing of launching a new food retailing business that is based on natural foods could not have been better. The demographic segments most attuned to the concepts of natural foods are the same that have the greatest increase in discretionary income throughout the late 1990s and throughout the 2000- 2010 timeframe (Zegler, 2010). This is one of the key success factors for Whole Foods Markets, and...
In launching into the El Paso, Texas market, Whole Foods will need to take these socioeconomic factors into account while also concentrating on how to communicate with this critical customer segment as efficiently as they can. In architecting a sales promotion schedule it is important to also realize that these consumers are also in the middle of changing how they choose to get information about new retail outlets and products, with social media and events becoming more mainstream than traditional print or television advertising (Bernoff, Liu, 2008). Trust is a much more critical aspect of the sales promotion schedule than just price or promotion on its own, especially when launching a unique, highly differentiated retail store (Huff, Alden, Tietje, 1999). Whole Foods also needs to realize that this specific customer segment, potentially the highest in profitability, is also extremely loyal once they…
