Case studies have been selected from real world scenarios to allow students the opportunity to connect theory to practice. With the exception of the Critical Assignment, students will be responding to a series of questions in addition to completing the Harvard Business Publishing’s “Case Analysis Worksheet” for each case
Whole Food Markets
Whole food is a major global food product organization that specializes in providing natural and less processed food. Although the organization has been successful in the market, the high price for its commodity is a major problem that if not dealt with effectively, the rising number of competitors that is coming up could take a large share of its market (Gary & Bill, 2007).
A major principle of the economic theory is that where there are many sellers, they particularly tend to settle on a single price. However, this does not occur always. Under some circumstances, a business may charge a premium for its products. The price charged by a business is critical in determining the number of customers, and consequently the profitability levels. In the retail food markets, price is an important factor in influencing the flow of customers. A sizeable number of firms characterize the retail food market. This is due to the presence of few market barriers to entry of new firms. This means that there is a high level of competition among firms in the retail food market. Price is often used to create differentiation in the retail food market. The price-sensitive consumer responds by seeking the cheapest alternative that offers value for his/her money. With regard to this, firms in retail food markets need to watch keenly the behavior of rivals. This paper is a case analysis of Whole Food Markets, an American grocery store. The analysis will dwell on the specific challengers affecting the grocery store. By using qualitative and quantitative data, it will also be possible to establish possible solutions to the problems Whole Foods Market is facing.