Deck 14: Developing and Pricing Goods and Services

Question 1

How does the Whole Foods total product offer differ from that of most health foods stores

Answer 1

Most health food stores stress the health aspect of their products. Whole Foods combines the basic product offering (healthy foods) with an image of high quality and superior flavor. The shopping experience becomes part of the value package.

Question 2

Which is the better product, what you get at a community college, or what you get at Harvard

Answer 2

"It all depends." Community colleges have many benefits and lower cost. Harvard has many different benefits and a much higher cost. The value of both institutions depends on the needs and wants of the student. Neither has an inherently better product, even though Harvard is known as a better school. One has to ask "Better for what " It certainly is not better for a student who cannot compete with other Harvard students or who does not have the money. That is why so many older students are going to community college; they see more value there.

Question 3

Do you think a Whole Foods outlet would succeed in another country Why or why not

Answer 3

If Whole Foods opened an outlet in a developing country, the prospects would probably be bleak. In countries where basic human needs are barely being met, a gourmet health food store wouldn't stand a chance. However, Europe may be an attractive market. In addition to fears about mad-cow disease, there is also widespread consumer resistance on the continent to genetically engineered foods, making organic or natural foods appealing.

Question 4

How can you make a product better

Question 5

Would the fact that most national brands are not sold in a Whole Foods store make you less likely to shop there Why or why not

Question 6

Is a better quality product perceived as a better product by consumers

Question 7

What pricing strategy would you use for Whole Foods specialty chocolates

Question 8

What is the product of a community college (Be careful, the product is not what the school offers, but what the school offers as seen through the eyes of students).