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Market study - Sales management and negotiation techniques: Wegmans

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  1. Company profile
  2. Target consumer profile: NEEDS and WANTS
  3. Mission statement
  4. Market analysis: USA
  5. Strategic options
  6. Sales strategy

Wegmans first started as Rochester Fruit and Vegetables Company in 1916, highly influenced by their parent's store, this business was founded by John Wegman, joined later by his brother Walter Wegman. After 6 years selling fruits and vegetables, the brothers acquired the Seel Grocery Co. enabling the expansion of operations to add general groceries and bakery production.
Almost ten years later, the company opens a 20,000-square foot store, a concept that would change food shopping. The new store had innovative features such as auto-service, dairy products, meats, homemade candy, cafeteria for 300 seats, refrigerated display windows and vaporized water sprays to keep products fresh.

[...] Moreover, the increase of consumers' demand in quality and quantity can be explained through the following factors: A fierce price war between the main actors of the French food retail industry, generated by the constant seeking of the cost? trend by French shoppers. (Gaul & Popa p. The format innovations of the food retail industry. For example: the development of proximity groceries retailing, focusing the ?neighbouring? aspect, allowing French shoppers to buy items close to their home. (Gaul & Popa p. [...]

[...] This influence is due to an important media exposure and many awards to reward the company management and strategy in recent years. As mentioned before, the company received in 2016 the award of ?America's favourite grocery store? from Market Force after an over 10,000 grocery store shoppers nationwide survey. Thus, despite its limited size and area of activity, Wegmans has a great power on its market thanks to its way of running the daily business. It also allows the company to create a strong fan base of customers who are thankful for the devotion of the company and its employees. [...]

[...] However, this does not prevent the company to be ranked as the thirtieth on the 2017 Supermarket News list of the Top 75 Supermarkets based on sales volume; thanks to the $ 8.3 billion of sales in 2016. Then Wegmans can be considered as an actor with a moderate economic influence on the food retail and the supermarket chains markets. Nevertheless, with over 58,000 employees working in 92 stores through 6 different states of the North of the country (Massachusetts, Maryland, New Jersey, New York, Pennsylvania and Virginia), Wegmans Food Markets has currently a strong impact on its business sector. [...]

[...] 12) unlike Walmart's sales accounts 22% of their total sales through PIN debit, a transaction mean which ?lends itself to be the fastest checkout process because there is no signature requirement.? Also, according to the Senior Vice-President of VISA, Tim Attinger, ?cash and check payments accounts for more than 60% of all consumer transactions, with debit transactions rising at a faster pace than credit? despite the now or pay later? mentality that may influence consumer payment choices, T. Attinger contends that average U.S. consumer household is fairly fiscally conservative, despite what is heard about bankruptcies and rising debt levels.? (Crowe, et al p. [...]

[...] Wegmans Company Overview. [Online] Available at: [Accessed 1 April 2017]. Wegmans For Our Suppliers. [Online] Available at: [Accessed 2 April 2017]. [...]

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