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 …show more content…
We work with our supplier partners in eliminating all unnecessary production and distribution costs to help ensure the best possible price.” Whole Foods also believes that their customers are their most important stakeholders and that by firstly satisfying their customers; they can then satisfy the needs of their other stakeholders. Whole Foods intends to excite their customers by providing extraordinary customer service, educating their customers about natural and organic foods and provide inviting store environments. Additionally, Whole Foods uses their sales and marketing to grab the attention of their niche target market. Whole Foods specifically advertises in health and fitness magazine and places their billboards in strategic areas with a high traffic of fitness/healthy eating minded customers. G. Industry Analysis – The supermarket and grocery store industry is maintaining throughout the economic crisis that America is currently experiencing. As stated by the Market Report of “Grocery Stores”, “The industry fared well during the economic recession of the late 2000s, as more Americans chose to eat at home rather than go out. During this time grocery stores focused on providing economical food choices for cash-strapped consumers.” However, as the economy continues to improve, more people may choose to eat out which could cause the industry to marginally suffer. Additionally, Supermarketnews.com states, “…the 75
All in all, Whole Foods Market Inc. is the most influential organic food retailer in the word. It built its motifs centered around its social responsibilities. The company’s green mission, Whole Foundations, and Whole Trade Guarantee showcase its commitment and reslince in supporting and bettering the world’s community busing food as the
Whole Foods operates in the organic, or natural and specialty foods retail industry. Leading the industry, Whole Foods Market is the world 's most successful natural foods grocery chain. Having recently acquired one of its main competitors, Wild Oats Market, Whole Foods currently competes with two other large grocery chainsKroger and Trader Joe 's. The company also acquired Amrion, a company specializing in nutraceuticals (natural supplements with pharmaceutical-type benefits), creating considerable competition with General Nutrition Centers (GNC) nutritional supplements and dietary products. Additional competition is taking place in traditional grocery stores incorporating some organic products on to their shelves.
* Whole Foods Market was founded in 1980 working with natural and healthy foods in Austin, Texas; it’s one of the world’s largest of natural and organic foods supermarkets. In 2009, the sales total $8 billion and had 289 stores in the U.S. The Whole Foods Market plans to come up with strategies to help improve the company but to do so understanding the core values plays a major role in the company’s planning. The strategies
Whole Foods is a supermarket that has successfully become the leader in the organic food segment of the grocery industry. While traditional markets have low brand loyalty and recognition, Whole Foods has focused almost entirely on its brand image, causing their strategy to be one of differentiation over cost leadership. Whole Foods is known as being far more expensive than other chains, due to this brand recognition. In their press release for the Q4 2014 results, they describe their vision and sum up what helps them develop that brand recognition. “We hold the idea of “food” to a higher standard, banning more than 75 ingredients commonly found in other stores, and we believe our unparalleled quality standards
Whole Foods Market, Inc, is an Austin, Texas based foods grocery that has the finest natural and organic food available, including produce, seafood, grocery, meat and poultry, bakery, prepared foods and catering, beer, wine, cheese; in addition to whole body, floral, pet products, and household products. Whole Foods is among the most profitable health food retailers in the United States. The rapid growth and market success has much to do with having remained a uniquely mission-driven company, highly selective about what they sell, dedicated to their core values, stringent quality standards, and committed to sustainable agriculture.
Whole Foods Market, Inc. which is headquartered in Austin, Texas, is an American foods supermarket chain it was founded by John Mackey who currently serves as the CEO of Whole Foods. To sum up their mission and vision statement, Whole foods as a company strives to help out in promoting positive health and well-being of people, this includes team-members, customers and the whole planet in general. Some of their core values include:
But they also have collaborative efforts to sustain the environment as well as animal welfare as stated earlier. This is a company that not only wants to feed, but they want to protect. Therefore, their mission statement not only is well expressed, but it is constantly being proven and carried out. Not only is this a business of food, but it is a business of humanity. Which is represented by it’s mission statement, but also by it’s core values which can be found on their website. This mission might not be by definition, found there, but it is explained in the values and the roles in which General Mills has taken
The stock ticker sample for Whole Foods the company is WFM, which is the abbreviation of the full company name, Whole Foods Market. The stock ticker WFM is recognized by the National Association of Securities Dealers Automated Quotations or NASDAQ. Whole Foods Market’s NAICS code is 445110 which determines the company is involved within the supermarkets, and grocery store market (except for convenience stores). The Whole Foods company is listed within the grocery store industry (Yahoo Finance, 2016). This means that the Whole Foods company, while still being an organic product brand, operates in the form of pre-existing retailers and competitors. Whole Foods tries to compete within its industry by offering a wide, specialized selection of natural or organic foods and products to its customers (Sharma, 2015).
Whole Foods has employed much fewer resources in both advertising and marketing than its competitor supermarkets . Whole Foods has begun endeavors to cabinet its affordability through in-store guides, but this must reach audiences outside of the stores.
The grocery industry is highly fragmented, with a multitude of strong regional players (Safeway, Publix, Kroeger, Wegmans, etc.). The largest grocery retailer in the United States is Wal-Mart, with an estimated 33% share. Other major retailers are targeting this segment of the industry, focused on a relatively narrow selection of key commodity foods at relatively low prices (Forbes, 2011). Whole Foods competes in a segment occupied by differentiated grocery players including Trader Joe's, Fresh Market and a highly fragmented selection of local and regional upscale and health-conscious grocery stores. The big players in the industry usually carry ranges of organic and natural products as well, siphoning off some business from Whole Foods. As Whole Foods grows, it comes into competition with mainstream grocery retailers more frequently (McLaughlin & Martin, 2009).
Whole Foods Market, Inc. is the "world's leader in natural and organic foods, with more than 310 stores in North America and the United Kingdom" (Whole Foods Market.com. About. 2012. PP. 1). From its roots as a one store operation based in Austin, Texas the company under the direction of its founder and CEO John Mackey has "unquestionably transformed the way Americans produce, buy, and eat food" (Paumgarten, N. January 4, 2010. PP. 1).
“With great courage, integrity, and love – we embrace our responsibility to co-create a world where each of us, our communities and our planet can flourish. All while celebrating the sheer love and joy of food” (Whole Foods, 2015). This is Whole Food’s “higher purpose statement”. This statement expresses and delivers what Whole Foods, as an organization, believes and what must be apparent to the consumer. As an organization founded with the drive to bring the freshest and most natural products to consumers, Whole Foods must maintain alignment with that core philosophy. Created in response to
The Whole Foods Company was established in Austin, Texas from an idea of four local entrepreneurs who believed that the natural foods industry was developed enough to be introduced into large retailing which was the Supermarket. The initial Whole Foods Market was inaugurated in 1980 with a workforce of just 19 individuals. The initiators were John Mackey and Renee Lawson Hardy who were the owners of Safer Way Natural Foods, together with Craig Weller and Mark Skiles who owned the Clarksville Natural Grocery. The entity picked up quickly and it was an immediate success. This could have been owed to the minimal presence of natural food supermarkets in the United States. The firm has been unstoppable in terms of business growth since its
Whole Foods is ranked the 8th largest public food and drug retailer in the United States with a current ranking of #218 on Fortune 500. Whole Foods continues to perform at its very best with reported sales growth in the year 2013 of 7%, Net sales of $12.9 billion, Operating income of $883 million and an Operating Margin of 6.8% they continue to produce gains year after year. During the year 2013 the company returned $633 million to shareholders through share buybacks and dividends.
Whole Foods Market began in 1970 as a local supermarket. Over the past 31 years, Whole Foods Market has grown from a single store in Austin, Texas, to becoming one of the worldwide leaders in providing consumers with natural and organic foods. They have grown to over 300 stores in both North America and the United Kingdom. (Whole Foods Market, Inc., 2011) This report examines the chief elements of the strategy that Whole Foods Market has put into place. Also, it uses past financial data to provide an assessment of the condition of the company going forward. Those assessments include recommendations of future actions, along with concerns I have about the way the company is currently operating and some difficulties that may be on the way.