Strategic Plan: Facts and Analysis External Industry Analysis Limited Competitors The assessment of Whole Foods’ external competitive environment is revealing of the limited number of direct competitors faced by the company. Whole Foods’ executives publicly observe, for example, that “it was to the company’s benefit for conventional supermarkets to offer natural and organic foods...it helped create new customers for Whole Foods by providing a gateway experience” (Thompson 315). There are only two direct competitors to Whole Foods: Wild Oats Markets (acquired by Whole Foods in 2007) and Fresh Market. There is “some overlap in products and shopping ambience” with another chain, Trader Joe’s. However, Trader Joe’s is attempting to occupy a...The end:
..... flawed and, as in 2000, it may be necessary for Whole Foods to cut its losses in the Wild Oats acquisition. Whole Foods lack of marketing and advertising must be reversed. Word-of-mouth is insufficient in North American complex and fragmented markets. Whole Foods key strength has long been that people who know Whole Foods are converted to its mission, and are loyal to the brand. If marketing can bring more people to know Whole Foods, the company’s successful internal strengths – notably its empowered team management approach – suggest that many of these people will become devoted Whole Foods customers. Bibliography Thompson, Arthur. Crafting and Executing Strategy: Concepts and Cases Seventeenth Edition. Toronto: McGraw-Hill Ryerson, 2009.