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ASU StrategicManagement CompleteCase LizaLaverman
ASU StrategicManagement CompleteCase LizaLaverman
Company Description
Harry and Sigmund Weis founded Weis Markets in 1912 when they opened a small
neighborhood store known as Weis Pure Foods on Market Street in Sunbury, Pennsylvania.
Today, Harry’s grandson, Jonathan oversees a company with stores in Pennsylvania,
Maryland, New York, New Jersey, Delaware, Virginia, and West Virginia. Overall, Weis
market employs more than 23,000 associates in our stores, distribution center, corporate
office, and manufacturing facilities (Markets., 2019). Built on self-reliance, they process
their own milk and use the excess butterfat to make our Weis Quality Ice Cream – 60 flavors
and growing! (Weis Market, 2022) Weis Markets is engaged in the retail sale of food.
Co.'s retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh
produce, floral, pharmacy services, deli products, prepared foods, bakery products, beer and
wine, fuel, and general merchandise items, such as health and beauty care and household
products. The store product selection includes national, local, and private brands, including
natural, gluten-free, and organic varieties. Co. advertises its products and promotes its brand
through weekly and monthly newspaper circulars, radio ads, e-mail blasts, and online via its
website, social media,and mobile applications. Each year, they support local food banks and
food pantries through our Fight Hunger program, which generates hundreds of thousands of
meals for needy people. They also donate to community-based health care organizations,
focusing on charitable and clinic programs benefiting women’s health care, mammography
screening, and pediatric programs. They are also committed to reducing our environmental
impact (Markets., 2019).
Mission Statement:
To deliver an exceptional shopping experience by offering the best service, value, quality,
and freshest products while being good stewards of our environment and giving back to the
communities we serve.
Values Statement:
Liza Laverman Weis market 2022
Teamwork – meeting our challenges and opportunities as one team, focused on common
goals.
Respect – treating our colleagues, customers, suppliers, and vendors with respect and
dignity.
Excellence – striving for excellence and working to improve every day.
Accountability – holding ourselves accountable for delivering results and always doing the
right thing.
Passion – offering our customers the best shopping experience by exceeding their
expectations.
Company Financials
Selected Financial Data
Source: Mergent. (n.d)
LT Debt to Equity - - - - -
you look at 2020, you can see a vast difference; it went from 8.15 to 14.84. The huge
difference is likely because of the covid-19 pandemic.
As you can see in the ROI of 2021, it already became less. In the table you can also see
that the revenue of each employee has risen in the last five years. The cash flow per share
measures the company's strength, but as you can see, this has not been in a straight
positive line for Weis market. As I said before, the rise between 2019 and 2020 is a huge
difference, and again it lowered in 2021. All of this can be influenced by covid-19 pandemic
and the behavior of consumers, who were afraid that they didn’t have enough reserves in
their house, so they bought a lot of extra products just to be sure. When the danger of covid-
19 became less, they also stopped buying extra food, so therefore, the numbers in 2021 are
lower than in 2020.
Political:
Global political stability is necessary for the growth of the supermarket sector.
Politics can influence the supermarket sector in many ways. (Rahman, 2021)
· One of those things is price regulation; an example of price regulation is unit
pricing. The unit pricing law requires retailers to disclose an item's unit price by
either marking the item or placing it on the shelf beneath the item. The “unit price”
is the retail price expressed in terms of price per unit of weight, measure, or count
(Duffy, 2022).
· Another political factor is wage legislation. Companies like Weis market need to
live by the regulation of the Fair Labor Standards Act (FLSA). Especially the
minimum wage is an important issue. The FLSA states ‘’the federal minimum
wage is $7.25 per hour effective July 24, 2009. Many states also have minimum
wage laws. In cases where an employee is subject to both state and federal
minimum wage laws, the employee is entitled to the higher minimum wage’’
(FLSA., 2022)
Economic:
The economy has a direct impact on the grocery industry. People with jobs and good
incomes are likely to spend more on groceries than people who have less to spend.
(Rahman, 2021)
·
As you can see in the figure below, the unemployment rate went high during the
covid-19 pandemic, which would mean that people do not have a lot of money to
spend (Aaronson, 2021). Luckily it has been going down in 2021, which is a
Liza Laverman Weis market 2022
positive thing for the supermarkets. Since this will mean that people have more
money and are able to buy more groceries.
(Statista, 2018)
· The second economic factor is Inflation. Inflation is occurring when the prices of
goods and services in an economy increase, such as the cost of raw materials
and wages (Investopedia., 2020). As you can see in the figure below, the inflation
rate has risen in 2022.
(Calculator., 2019)
Social
· Social factor impact can be culture. In modern times, it is no longer common for
only women to do the shopping. Men are more likely to do grocery shopping;
generally, men consider supermarket features less critical than female
customers. Age, education, and occupation of customers do influence price,
promotions, and cleanliness (Mortimer, 2011)
· Social influences that happen in real life or on social media can have a significant
impact on people's eating habits. Unwittingly, specific triggers can change
people's attitudes or habits just because they interact with other individuals. This
means that, for example, people around a person’s change in eating healthy can
influence that particular person, and therefore, it can influence the supply of the
supermarket or even influence the profit. (EUFIC, 2006)
Technical:
· Over the past decade, technology has had a significant impact on retail. Instead
of going to a store, consumers are increasingly using their mobile phones to shop
Liza Laverman Weis market 2022
online. Traditional retail, on the other hand, remains a high priority, but it is
essential that they stay up to date with technological changes. Consumers are
becoming more tech-savvy, and with that, customer expectations have also
changed; where they want to experience it easily, expect fast buying
experiences; customers no longer want to spend hours looking around in stores.
That’s all starting to change now. Supermarkets are starting a technological
revolution, for example, QR scanning and many more (Patricia, 2021).
· Using social media channels makes reaching customers super easy. When a
supermarket uses social media, it is essential to create content to reach the right
market and people. There are many online channels you can use to reach the
right market, such as Instagram, Facebook, LinkedIn, etc.
You will want to achieve brand presence in various social media outlets, but you will
still need to focus on the channels that will bring you closer to your niche (Goodwin,
2021). Technology is constantly changing, and the environment will become
increasingly digital. Some generations get a lot of influence on their buying habits
within a supermarket. This generation is primarily millennials and gen z. It also often
happens that a specific type of food is a trend. For a long-time avocado was a big
trend among influencers and the healthy community. This caused the avocados
within a supermarket to sell quickly and thus, the supermarket had to buy more
avocados from the supplier (Granderson, 2015).
Legal
·
A workers' compensation law is very important for an employee to know and for an
employer to comply with. The U.S. Department of Law created the Fair Labor
Standards Act (FLSA) to prevent employers from exploiting their employees. In
the figure below, you can see the rules, they have set up (Department of Labor,
2020).
· The United States has a separate department called the occupational health and
safety administration (OHSA). They have created a whole pdf file with the
regulations on what a company must do to establish safety regulations for their
employees (Chao, 2004).
Liza Laverman Weis market 2022
Environmental
· It's no secret that single-use plastic has become a problem worldwide. If nothing
changes, there will be even more plastic in the ocean than fish by 2050. Because
of this problem, many supermarkets are devising strategies to reduce plastic use.
Unfortunately, these waste management strategies often overlook forgotten
single-use plastics, which are even worse producers of waste for the
environment. Single-use plastic bags are currently the focus of many
supermarkets. Many supermarkets are switching from plastic to paper bags
because this is a more sustainable alternative (Hardin Berghaus, 2019).
· People are becoming increasingly aware of the environment. With that,
supermarkets are now expected to take the environment into account when
processing food. But also start thinking about how we can avoid wasting so much
food. Food waste can be related to surplus in supermarkets or when someone
deliberately throws away food.
Supermarkets need to start looking at the stages of their process and what they can
change to balance production and demand (Hunger., 2015).
Market Strategy
Weis Market's marketing strategy is mainly discussed with the marketing mix model.
This consists of product, price, place, and promotion. For products, Weis must
develop unique product features to be ahead of the competition. For products, you
need to pay close attention to certain factors like quality, brand name, packaging etc
(Harvey, 2018). The price of the products should have a specific pricing strategy to
offer the best for their customers, especially considering low prices and discounts.
For the promotion strategy, Weis Markets can choose above and below-the-line
promotion strategies to achieve its marketing goals. The above-the-line promotion
options for Weis Markets are television, radio, and print advertising. The below-the-
line promotion options are catalogs, trade shows, and direct mail campaigns. The
company can also develop its online website to sell the product. Weis Market should
decide whether they want to target the customers through channels or distribution
partners and whether it is interested in: a traditional brick-and-mortar distribution
network, online distribution, or a combination of both (Harvey, 2018).
Sales Strategy
For the sales strategy, Weis Market chooses a sales-driven culture. They want to focus on
sales and profit growth. Weis Market believes in disciplined growth that will help them
increase its market share and operating profits. Weis Markets has a particular method of
driving sales which includes preparation and execution. They will invest in new stores and
remodel them. Another sales strategy is them becoming more relevant to the consumers.
Nowadays,companies need to be on trend with their consumers. Therefore, Weis Market will
research the wants and needs of core consumers and casual consumers. The sales
Liza Laverman Weis market 2022
channels Weis Market will use the physical retail stores as well as e-commerce; e-commerce
would be their website, where people are also able to order and pick it up later (markets,
2021).
At the end of 2021, Weis Markets, Inc. operated 4 stores in Delaware, 49 stores in Maryland,
6 stores in New Jersey, 9 stores in New York, 116 stores in Pennsylvania, 9 stores in
Virginia, and 3 stores in West Virginia, for a total of 196 retail food stores operating under the
Weis Markets trade name. Since the end of 2021, the Company has opened one store
location, bringing the current total store count to 197. (market., 2022)
Weis Market sells groceries, dairy products, frozen foods, meats, seafood, fresh produce,
floral, pharmacy services, deli products, prepared foods, bakery products, beer and wine,
fuel, and general merchandise items, such as health and beauty care, and household
products. The store product selection includes national, local, and private brands,including
natural, gluten-free, and organic varieties. Weis market divides its business into 5 different
units, center store, fresh, pharmacy services, fuel, and other (Market, sd). Center store
means it includes primarily groceries, dairy products, frozen foods, beer and wine, and
general merchandise items, such as health and beauty care and household
products. Fresh means consists primarily of meats, seafood, fresh produce, floral, deli
products, prepared foods, and bakery products. (Market, sd)
The following table provides additional detail on the percentage of consolidated net sales
contributed by product category for fiscal years 2021, 2020, and 2019, respectively: (Market,
sd)
The majority of the Company’s revenues are generally not seasonal in nature. However,
payments tend to be higher during the major holidays throughout the year. Additionally,
significant inclement weather systems, particularly winter storms, affect sales trends.
(Market, sd)
(Market, sd)
Segment 2 : Fresh
The second segement is the fresh products. As seen in the table above the fresh products
where accountable for 31.1% revenue. After calculations that will mean that fresh has a
revenue of 1.322.112 US Dollars. Fresh products consists primarily of meats, seafood, fresh
produce, floral, deli products, prepared foods and bakery products. Market growth for the
fresh segment it stayed the same in 2019 and 2020, however in 2021 they grew with 0.6%.
(Market, sd)
The financial results may be adversely impacted by a competitive environment that could
cause the company to reduce retail prices without a reduction in its product cost to maintain
market share; thus, reducing sales and gross profit margins. By their strategy sales driven
culture, the company believes disciplined growth will increates its market share and opering
forgets, resulting in enhanced shareholder value (Market, sd) . Weis market did not provide
information on the market share numbers. For the BCG matrix I used competitors to
determine their place in the market.
According to (Compatable., 2022) the most significant competitors of Weis market are B&G
Foods, Wegmans, SpartanNash, Giant food, and First Eagle. As you can see down below, I
made an overview of the revenue they have combined to calculate the percentage of market
share Weis market has. As you can see in the figure below Weis market does not have a
significant market share within the industry.
Liza Laverman Weis market 2022
Segment 2: Fresh.
The second segment is also a combined segment of meats, seafood, fresh produce, floral,
deli products, prepared foods, and bakery products. Establishments primarily engaged in the
wholesale distribution (but not packaging) of fresh, cured, or frozen fish and seafood, except
canned or packaged frozen. The preparation of fresh or frozen packaged fish and other
seafood, and the shucking and packing of fresh oysters in nonsealed containers, are
classified in Manufacturing, Industry 2092. Establishments primarily engaged in the
wholesale distribution of canned seafood are classified in Industry 5149, and those
distributing packaged frozen foods are classified in Industry 5142. Weis Markets, is
committed to offering you a selection of seafood that comes from sustainable sources.
(NAISC, 2021)
Market Definition
Weis markets opened its first store in 1912 in Sunbury, Pennsylvania. 3 years later, in 1915,
they opened their second store in Harrisburg, Pennsylvania. In 1938 they came up with a
new strategy; the strategy they used was to replace their current stores with self-service,
consolidated supermarkets. They continued with this strategy, and in 1955 they had around
35 stores. As you can see in the figure below, Weis market currently has a lot of stores in the
east side of the USA. I expect them to further expand across the USA, and maybe even in
the future, they will go abroad. (Laverman, 2022)
At the end of 2021, Weis Markets, Inc. operated 4 stores in Delaware, 49 stores in Maryland,
6 stores in New Jersey, 9 stores in New York, 116 stores in Pennsylvania, 9 stores in
Virginia and 3 stores in West Virginia, for a total of 196 retail food stores operating under the
Weis Markets trade name. Since the end of 2021, the Company has opened one store
location, bringing the current total store count to 197. (Laverman, 2022)
Weis market is planning on spending $150 million on new retail locations and improvements
on their technology and their current facilities. (Silverstein, 2022)
Market Review
· Delivery, since the covid-19 pandemic Americans have changed their way of
doing grocery shopping. Because of the increase in online grocery shopping,
curbside pick-up also increased. E-commerce platforms like DoorDash and
Instacart became very popular in 2021 (Wells, 2022).
· Premium products, Premium foods became more popular in the last year (Wells,
2022). The demand for private-label grocery products remained strong
throughout the pandemic, with higher-end premium lines driving sales for
traditional grocers, clubs, and mass merchandisers (Garwood, 2021). Especially
in the category; of alcohol, coffee, meal kits, frozen meals, and spices (Wells,
2022). Kroger, a competitor of Weis Market, has decided to add 660 items to its
private label offerings in 2021, 60% of which will be in premium lines (Garwood,
2021).
· Improving the use of consumer data, since a lot of grocery stores have been
going online, they are also collecting a lot of data. (Wells, 2022). Improving their
digital channel to satisfy their customers who appreciate personalized shopping
experiences. Improving substitutions is very important since dissatisfaction can
lead to losing customers. (Wells, 2022).
· Social commerce and live streaming, after the growth of online shopping in
2021, social shopping will grow more extensive, and it will be shaping how and
where we shop in 2022 and 2023. Live streaming will be an extremely useful way
for brands to connect with the consumer, according to Kabbara, director of
products for Spotify (Erdly, 2021).
· Hybrid retail, meaning that some customer journeys begin online but end offline.
Hybrid retail can complement the physical store. An omnichannel strategy could
be a good strategy, especially for in-store shopping appointments. Accessing a
customer’s online sales history to offer in-store discount (Erdly, 2021).
· Delivery models, the new delivery models such as curbside pick-up and direct-
to-door continue to grow in popularity. Therefore, customer loyalty is being
created by these delivery models (Nadja, 2022). People are getting busier, and
convenience is a premium. There will be an increased adoption from consumers,
especially since more and more retailers are offering. Therefore, options become
and delivery fees will go down (Oliver, 2015).
· Premium products, during covid-19 a lot of people started doing their groceries
online, because of that they found new brands that they liked. 45% of the
customers discovered new brands online and will continue buying those premium
products (Oracle., 2021). Especially in the category; alcohol, specialy coffee,
meal kits, frozen meals and spices (Wells, 2022).
Liza Laverman Weis market 2022
Weis market 4 2 2 2 2 5 17
Kroger co 3 4 5 5 5 1 23
Ratings Rationale
· Range of choice, I compared the amount they offered on their website. Since
every store is smaller or more prominent than the other one, this seemed like the
fairest comparable option. An example, Kroger has an average of 165.000
square feet, and it has more than 225.000 food, apparel, and general
merchandise products (Co, 2022).
·
E-commerce, the information is from the website www.ecommercedb.com. On the
website, they would tell about the E-Commerce net sales. In the figure on the
right, you can see an example of the supermarket Publix.
· Lower prices, I did multiple things to check which store was cheaper. The first
thing that I did was to take an item at every store and check the prices to see
Liza Laverman Weis market 2022
which one was cheaper. And I read some articles about comparison of the cheap
stores.
· Loyalty program, every grocery store did have a loyalty program. Therefore, I
ranked them on what kind of loyalty program they offered. Grocery stores who
only offer gas rewards I ranked low and the grocery stores who also offered other
rewards and e-coupons I ranked higher.
Substitute products
Substitute product is a weaker force in the industry because the very few available
substitutes are also produced by low-profit earning industries. Another reason for a weak
force is that firms producing within the industry in which weis market operates sell at a lower
price (Fert Fort, 2022).
Industry Rivals
Weis market can experience a strong force of competitive rivalry. A reason for that is the
high number of firms, and also retail companies are also decisive when looking at the price,
service, quality et.c Weis market also has a vital force because customers quickly and chose
to go to a different store (Fert Fort, 2022).
Buyer Power
The buyer power is a strong force. Again because of the low switching cost. Customers can
easily choose to go to a different store. A weak force is the small volume of individual
purchases compared to the total revenue of Weis Market (Fert Fort, 2022).
Supplier Power
Weis Market has a weak force when looking at the number of suppliers they have. Another
weak force is the products are fairly standardized, less differentiated, and have low switching
costs. This makes it easier for Weis market to switch. A strong force is that the supplier does
not contend with other products within the industry (Fert Fort, 2022).
Liza Laverman Weis market 2022
SWOT ANALYSIS.
4. Website, Weis Markets Inc has a Since delivery apps are becoming more
good working website that important these days, I recommend Weis
generates a large number of markets to keep their website up to date
internet interaction and that can and even try to improve on technology
lead to more sales (Laverman, and efficiency within the website. I would
2022) also recommend them to look into
customer website tracking. If there is a
loyal customer, they probably buy
standard products they use a lot so
therefore if they implement customer
tracking this can improve the customers
way of shopping more efficiently.
the quality of the products than control at a higher level, since quality of
competitors can invest in quality the products is one of the most important
control (markets, 2021). things there is.
1. Social commerce and live Social media became really big and
streaming, after the growth of important in the last few years, therefore
online shopping in 2021, social I recommend Weis market to invest in
shopping will grow bigger, and it more social media presence. Especially
will be shaping how and where we Instagram and maybe even YouTube,
shop in 2022 and 2023. Live live streaming on YouTube is becoming
streaming is going to be extremely more a thing these days.
useful way for brand to connect
with consumer according to
Kabbara, director of product for
Spotify (Erdly, 2021).
2. Hybrid retail, meaning that some For hybrid retail I recommend Weis
customer journeys begin online market to make a program whereby the
but end offline. Hybrid retail can customers can exactly see the store on
Liza Laverman Weis market 2022
complement the physical store. their computer and also all of the
An omnichannel strategy could be products the store sells at the moment.
a good strategy, especially for in- They can click that in their basked and
store shopping appointments. when they arrive at the last step, instead
Accessing a customer’s online of checking out and paying they can
sales history to offer in-store make an appointment at the nearest
discount (Erdly, 2021). store. When they arrive at the certain
time and date of the appointment, the
employees of the store have everything
ready in a dressing room, ready for
fitting. This way the way of shopping is
way more efficiently and less time
consuming for customers who are very
busy.
My recommendation for the delivery is to collaborate with more apps that do grocery
delivery, since this is becoming very popular, and people are becoming more lazier by the
day.
No recommendation.
No recommendation.
Since delivery apps are becoming more important these days, I recommend Weis markets
to keep their website up to date and even try to improve on technology and efficiency
within the website. I would also recommend them to look into customer website tracking. If
there is a loyal customer, they probably buy standard products they use a lot so therefore
if they implement customer tracking this can improve the customers way of shopping more
efficiently.
No recommendation.
No recommendation
My recommendation is that they set a bigger budget aside to get the quality control at a
higher level, since quality of the products is one of the most important things there is.
No recommendation.
No recommendation.
Social media became really big and important in the last few years, therefore I recommend
Weis market to invest in more social media presence. Especially Instagram and maybe
even YouTube, live streaming on YouTube is becoming more a thing these days.
For hybrid retail I recommend Weis market to make a program whereby the customers can
exactly see the store on their computer and also all of the products the store sells at the
moment. They can click that in their basked and when they arrive at the last step, instead
of checking out and paying they can make an appointment at the nearest store. When they
arrive at the certain time and date of the appointment, the employees of the store have
everything ready in a dressing room, ready for fitting. This way the way of shopping is way
more efficiently and less time consuming for customers who are very busy.
Sustainability is becoming a very important topic all around the world and I think Weis
market should want to stay ahead of its competitors when talking about being
environmental friendly. They should do research about the plastic use and waste within
the grocery market industry. And maybe even hire professional advisors on how to deal
with the sustainability way of doing business. This way they attract more customers.
I recommend Weis market to improve their website and maybe also the customers using
the delivery app. Track which items they have been looking at a lot and then later on the
technology can suggest certain products to the customers. This way they find new
products that they might like, and this can give a boost to the revenue and sales of Weis
market.
No recommendation.
No recommendation.
No recommendation.
I recommend Weis market to analysis the possible ways of preventing this to happen and
maybe even make a second plan for when this does happen so that they won’t lose out on
Liza Laverman Weis market 2022
the revenues.
No recommendation.
I recommend Weis market to maintain a good relationship with its supplier and maybe
even be on a trust worthiness level so that Weis markets makes a deal with the suppliers
and with this deal they agree to not make the prices higher.
Adapted from: Individual Case Study: SWOT Analysis, Section 4 (Laverman, 2022.)
2. Social media has become prominent and influential in the last few years.
Therefore, I recommend Weis market invest in more social media presence.
Especially Instagram and maybe even YouTube, live streaming on YouTube is
becoming more of a thing these days.
a. Pro: If they invest more in social media, they gain a more significant
presence online and this can result in being more known and popular,
which can result in higher revenue.
b. Con: investing in social media will also mean that more people must
become involved in creating content; this can cost a lot of time, effort, and
money from the company. The question is if they want to put in all these
efforts for something that does not give you the insurance of succeeding.
Liza Laverman Weis market 2022
3. For hybrid retail, I recommend Weis market make a program whereby the
customers can exactly see the store on their computer and also all of the
products the store sells at the moment. They can click on it and put it in their
basket, and when they arrive at the last step, instead of checking out and paying,
they can make an appointment at the nearest store. When they arrive at the
specific time and date of the appointment, the store employees have everything
ready in a dressing room, ready for fitting. This way the way of shopping is way
more efficient and less time-consuming for very busy customers.
a. Pro: This can be more efficient for not only the customers but also the
employees since they won’t have 20 ~ 30 people in the store at once and
making a mess. Customers can shop in their bed or while they are waiting
somewhere in line, and when they have time, they can try on the clothes
and buy it physically in the store.
b. Con: A con about this is that people may have to wait a long time in order
to book an appointment. For example, if the store only has 5 dressing
rooms and they are all booked during the afternoon, and a customer only
has time during a Wednesday in the afternoon. This will mean that they
either must wait for a long time in order to be able to try on the clothes or
that they will cancel the whole appointment.
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