Whole Foods Market Essay Example | Topics and Well Written Essays - 1250 words - 1

Whole Foods Market - Essay Example Not only did they satisfy the people in Texas they went well above and beyond. â€Å"Wow! What a ride. Back in 1980, we started out with one small store in Austin, Texas. Today, we’re the world’s leader in natural and organic foods, with more than 310 stores in North America and the United Kingdom. What a long, strange trip it’s been. We still honor our original ideals, and we think that has a lot to do with our success.† (About Whole Foods) It is very important to shed light upon the price of certain items sold in Whole Foods, the price is usually higher than the same grocery products sold in other stores, this is something which could be affecting the profits of Whole Foods. However, it is unclear as to why the price is higher than other grocery stores. There could be a number of reasons for this but at the end of the day what matters is profit and the quality of the products sold in the store. As far as the quality is concerned Whole Foods has always be en providing their customers with the very best products so quality is certainly not an issue but price is something which they need to work on only then can they increase their profits. Reducing the price does not mean it will hamper their growth, they can always find new ways or special offers which could fetch them even more profits, everything comes down to innovation. Thinking out of the box has become really important and one good pricing strategy can fetch a lot of profit to Whole Foods. Whole Foods does not promote the discount card scheme and this is really strange, it is strange because the customers who keep visiting the store do not get rewarded and they should be rewarded only then will they feel like coming over and over again. Discount cards will also bring Whole Foods new customers and finding new customers is really important for any business. This is the first change which Whole Foods must introduce; discount cards are the need of the hour. The economic conditions in the recent past have been anything but ideal considering the same Whole Foods must introduce discount cards and this change is ought to bring more clients which would imply more profit for the organization. Whole Foods can become even more popular by sponsoring events, sponsoring local events would be ideal just to make a start but in the long run the store can also sponsor sporting events so that it becomes even more popular. This is another very good way of attracting more clients. The Premier League is a classic example, Barclays in the UK started sponsoring the Premier League in England and it is now known as the Barclays Premier League and it is watched by Billions of people across the globe. Such sponsorship deals may be expensive for an organization but can prove very beneficial in the long run. Whole Foods should also look at similar opportunities so as to make their mark. Organic food is something in which Whole Foods specialize and they need to work on building a brand identity. The first thing which should come to minds of people when they think of organic food should be Whole Foods, this is not an easy job but it can be accomplished and there are several organizations who have accomplished the same and there is no reason as to why Whole Foods cannot achieve the same in the field of organic food. Aggressive promotion is another idea which could work well for Whole Foods, social networking websites have become incredibly popular, big organizations have their own Facebook pages and Whole Foods should also create a Fan page and keep it updated so that the people can know of the recent changes and the recent products being sold by Whole Foods. Twitter is another medium with the help of

Marketing Plan - Product launch strategy Term Paper

Marketing Plan - Product launch strategy - Term Paper Example Keeping this in view, ENTOUCH telecom has decided to launch electronic online store. This will help the company in the process of attracting and retaining more customers, which in turn will result in increasing the total profits and market share of the company. Background and Relevant Issues: Telecommunication industry is one of the growing industries all over the globe. It has become one of the most profitable and worth investing industry. There is always an increasing need of different products and devices which assist people in the process of communication. Communication has become one of the important needs of the today’s global world. At the same time it is worth considering that there is considerable shift in the shopping behaviour of the customers. More and more people are shifting towards online shopping. Online shopping provides the customers with more convenience and ease. New Service Strategy and Purpose of Strategy: Owing to the increasing trend of online shopping, the company is looking forward to launch a new e-store. This online store will enable the target customers to shop for their favourite telecommunication products over the internet. ... he purpose behind this strategy is to provide the customers with ease and comfort of shopping from home and at the same time increasing the market share of the company. Business Current Offerings: ENTOUCH telecom offers almost everything which is required to make a phone system in an office or at home. There are several corded and cordless digital phones offered by the company for home and business usage. In addition to this, the company offers several telecommunication products and accessories like headphones, headsets, conferencing equipments etc. Products and accessories from the world’s renowned manufacturers are available which includes Plantronics, Sennheiser, Jabra etc. OBJECTIVES: There are several aims and targets of ENTOUCH which it is looking forward to accomplish with the launch of this new service. Five main objectives in this regard are: 1. To increase the sales of the company by 10 percent within the time period of one year. 2. To increase the market share of th e company by 5 percent within the time period of one year. 3. To increase the penetration in the New Zealand market to the level of 60 percent. 4. To enter into international telecommunication market by capturing around 5 percent share in the first year. 5. To improve the market image and reputation. SITUATIONAL ANALYSIS: Before entering into any new market segment and introducing any new product or service, it is important to thoroughly analyse the overall situation of the industry and market. It is essential for the organisation to investigate, explore, and analyse both, internal and external, environment. This is the first step in the process of designing effective marketing strategy and plan (Anderson, 1982). Industry Analysis and Key Trends: The overall telecommunication industry is