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by: Bennie Block

MarketingPrinciples MKTG3401

Bennie Block

GPA 3.65


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Class Notes
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This 0 page Class Notes was uploaded by Bennie Block on Monday November 2, 2015. The Class Notes belongs to MKTG3401 at California State University - East Bay taught by JeffreyNewcomb in Fall. Since its upload, it has received 19 views. For similar materials see /class/234357/mktg3401-california-state-university-east-bay in Marketing at California State University - East Bay.


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Date Created: 11/02/15
FDS I lt E T MARI m 1 Joanna Adler Jacquie Godsi Rui Ray Wang Qiytm Kevin W W116 History MARKET C In September 1980 SaferWay and Clarksville Natural Foods combined efforts to form the rst Nhole Foods Market in Austin Texas 0 Expansion didn t start until 1984 with major expansions happening through chain acquisitions throughout the 1990 s 0 In January 1992 they went public and their stock is traded on the NASDAQexchange under WI39M WHaLE Core Values MARKET Selling the Highest Quality Natural and Organic Products Available Satisfying and Delighting Our Customers Supporting Team Member Happiness and Excellence Creating Wealth Through Pro ts 8 Growth Caring about our Communities 8 Our Environment Creating ongoing win win Partnerships with our suppliers Promoting the health of our stakeholders through healthy eating education 510515 Co CEO s MARKET John Mackey is a college dropout who started SaferWay with his girlfriend in 1978 His base salary has been 1 since 2006 although his total compensation for 2010 was around 650K Walter Robb joined the company in 1991 and worked his way up from Store Team Leader In 2006 he was promoted to Co President and in 2010 was again promoted to Co CEO His base salary is around 400K and his total compensation is around 45 million per year Robb graduated with a BA in History from Stanford in 1976 and works out of an of ce in Emeryville CA WHELE FOODS Fmanc1al Information Revenue amp pro t continue to rise 11120E GrossRevenue 47013 56074 65918 79539 80316 90058 in millions Net Income 1364 2038 1827 1145 1468 2458 in millions Profit 290 363 277 144 183 273 Industry Avg na 170 150 150 150 200 0 175710000 Shares Outstanding Current stock Price is 6551 as of closing 8111 0 In June Blake Nordstrom added to the Board of Directors WHLE mom Stores MARK Locations 0 USA 300 stores in 39 states 47 in development California has the most at 65 stores 0 Canada 6 existing 4 in development 0 United Kingdom 6 existing 3 in development Placement Requirements 0 High regulation Technological advantages 0 200000 people or more in a 20minute drive time 0 High standard of living Three Part Philosophy M A R K E T Whole Foods WHBLE Whole Foods MARKET Natural 8 Organic 0 Least processed most nutritious best tasting highest quality most avorful 0 Purest state away from arti cial additives sweeteners coloring and Preservatives o Perishables 65 of Whole Foods Grocery Sales 0 365 Everyday Value365 OrganicWhole Foods Market private labels 15 of Sales Shopping Experience 0 Fun and inviting Community meeting place where friends are met 8 new friends made Whole People Employees SelfDirected Teams are fundamental work units amp include everyone 0 Fortune Magazine annual top 100 companies to work for 14 years running 0 Salary cap of 19 times average total compensation of i me team members 58000 employees 2010 1784hr 37K 705K cap 0 Company Paid healthcare insurance 0 Books are open including annual individual compensation report 76106615 Whole People Cont d D MARKET Customers 0 Appreciate Whole Foods ethics 0 Environmentally minded C View shopping as an experience rather than a chore Willing to pay higher prices for better quality least processed foods 0 Median income 63K Median Age 36 College Educated Whole People Cont d MARKET Suppliers 0 Selected for safest highest quality products amp their shared commitment to social responsibility and the environment 0 Transparency from farm to fork planning through ingredients to distribution 0 New unique and innovative products Community 0 Food banks 0 Sponsor neighborhood events 0 Donate minimum of 5 to local nonpro t organizations Whole Planet Sustainable in three ways Maintaining environmental growth Economically pro table Social 8 economic equity Examples 0 Marine Stewardship Council certified sustainable sword sh individually harpooned one at a time to avoid catching juvenile sword sh 8 other marine life 0 50000 grant last year to Do Something Reel documentary awards 0 n s M A R K ET39 DOSOMETHIN E Earth University global youth scholarships mu eon FILM FESTIVAL Whole Foods Foundation global agricultural micro lending Strengths Natural 8 organic Product niche 0 Employee commitment customer service Comfortable environment to shop Quality Control 0 Green initiatives WHLE G Weaknesses MAR PAYCH MAP WHG lEZK High Prices widely known as Whole Paycheck in E T bad economic environment Wags Accessibility stores not located near the masses 0 Limited sku s products 0 For example only 1 kind of toilet paper is stocked rather than a variety of brands many national brands are not carried 0 Political Legal Environment 0 Regulation important especially for maintaining de nition and regulation of what is organic WHaLE Opportunities MARKET Continued growth including domestic and foreign Add online sales 8 delivery 0 Have different store models some smaller some larger 0 Wholesale their own store brands to other stores 0 Increase advertising WHBLE MARKET Threats Competition from other stores 2 such as Safeway s O Organics inhouse brand EXPELLER ruesssn rgamc A A 0 Economic environment Possible hacklash from overcommercialism similar to what Starbucks is experiencing WHLE G Recommendations MAR Market Development 0 Open more stores around the world 0 Market Penetration 0 Take Whole Food s store brand to other stores including independent stores such as BiRite Market NNNN quot San Francisco 8 other chains such as Food Source TARGET get and 0 Add online shopping 8 delivery 0 Increase advertising 8 promote their 3part philosophy of Whole Foods Whole People Whole Planet What We Have Learned MARKET 0 Lacking brand awareness both domestically 8 even more so globally Image is often an integral part of a Product s value Proposition 0 Low market share with room for improvement 0 Excellent customer service 8 quality control m


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