Differentiation strategy entails the way that a business distinguishes itself from its competitors in order to attract as many customers as possible through improvement of their service delivery and development of new products. Some of the elements that are consistent with the whole foods business strategy include. The organic product which include organic groceries and foods made of materials obtained from organic agriculture. This produce is grown in an environment manner in the absence of harmful pesticides and fertilizers thus making them resistant to diseases and help provide customers with good health since they are rich in nutrients and vitality.
Prepared food can also be one of such elements since it encourages innovation and effectiveness in the preparation of food for the business to stay more competitive ahead of competitors. Here, new food ingredients and beverage products that are of high quality and demand are prepared to improve innovation and to attract more customers toward the business. The whole foods business may also decide to use the approach presenting new unique products that are of high quality and have nutritious benefits. This is done through observation of the culture market and the changing behavior of the consumer to be able to meet the expectation s of the customers’ needs and wants.
Delegate your assignment to our experts and they will do the rest.
Elements Consistent with a Cost-Leadership Strategy
Cost leadership strategy entails the case whole food business will try to offer a competitive edge by cutting the cost of its operation as compared to that of competitors. It mainly focuses on the scale of production where it maximizes on efficiency and production of highly standardized products. On the other hand, the introduction of WF discounts which depicts the whisper friendly discounts will help attract a greater customer base towards the business. This include warfare dollars and warfare random boxes discount on the products being produced and the business may also introduce coupons as a way of appreciating the customers for their loyalty. By employing this strategy, the whole food business will be way ahead of its competitors and will be able to operate on a higher scale of production.
Problem Identified and Recommended Options
The problem with whole foods limited is that it is considered to have overpriced grocery products. In order to address this negative image and justify the higher rice for product the business should increase the quality of their products by making sure they produce the best as compared to other competitors. This will help in streamlining the negative opinions of the customers. The business may also decide employ the differentiation strategy by offering more unique products and facilitate creativity and innovation by expanding the whole foods business to accommodate other different business ventures for example introducing a restaurant or coffee shop inside the store will help retain customer since they will be experience a variety of products at the same place.
The action plan will be to ensure that the products produced help provide physical health and diet therefore preventing diseases and this can be achieved by cutting on the cholesterol to improve on the heart health and the business may also decide to use the kick diabetes cookbook recipe for diabetic customers. The products used should also be organic that is of higher quality and nutrition free from harmful chemicals. If the business applies all this strategy accordingly then it will help in outdoing its competitors and improving the performance.
