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External and Internal Analysis of Wfm

In: Business and Management

Submitted By shirleyshi
Words 761
Pages 4
1. External analysis: Describe industry/market dynamics in terms of customers, competitors, potential entrants, product/service substitutes, and suppliers.

Customers
Whole Foods is known for its strict standard on its food quality as well as its personal care products. Also, it has a commitment to provide natural and organic products to its customers in order to show that Whole Foods cares about its customers, community, and the environment. They have the well designed website that explains their concepts very well. Their customers are mainly who agree with Whole Foods’s concepts and are willing to pay more for the organic products there to avoid the genetically modified food. All the age groups of customers can be found in the Whole Foods, but they have a significant increasing number of young adults customers. In addition, Whole Foods is supported by various industries such as fitness centers, health insurance companies and nutritionists.

Competitors
The main competitors of Whole Foods are Kroger, Sprouts, Trader Joe’s and many other local grocery stores that also sell organic foods. Buyer power strongly impacts Whole Foods because customers can easily shift to other providers of organic and natural foods. “Supermarket chain Kroger is expected to surpass Whole Foods as the nation's top seller of organic food, while Trader Joe's sells twice as much per square foot” (Business Insider). It is apparently that Whole Foods is not doing enough for its expensiveness so that customers realize that they can buy the products of the same quality but in a lower price from its competitors.

Product Substitutes
There are many substitute products such as non-organic foods or products contains ingredients that are not natural. Based on Whole Foods strict standard as mentioned above, a large portion of products can be considered as not organic. However, customers are...

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