University Case Study: Analyzing Nature's Own Medicine (NOM) Expansion

Verified

Added on  2022/08/20

|5
|836
|42
Case Study
AI Summary
This case study analyzes Nature's Own Medicine (NOM), an award-winning retailer, and its potential expansion into the Canadian market. The analysis addresses key questions regarding market opportunity, competitive landscape, and the development of a compelling customer offering based on NOM's core values of assortment, knowledge, and value. It examines the natural supplement market's growth, the company's focus on health-conscious and active consumers, and the importance of a strong product line. Furthermore, the case study delves into the retail marketing mix, including product, price, promotion, people, place, and process, to formulate effective marketing strategies. The document highlights NOM's approach to service, customer engagement, and the significance of hiring the right personnel to represent the company's values and products, particularly the direct-to-store delivery supply chain model. The study concludes by summarizing the company's efforts to amaze customers through engagement offered in stores.
Document Page
Running head: BUSINESS RETAIL
BUSINESS RETAIL
Name of the Student
Name of the University
Author Note:
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
BUSINESS RETAIL
Answer to Question 1
Nature Own Medicine is known to be an award-winning retailer which started exploring
the overall possibility for expanding its operation in the market of Canada. It is considered for its
attractiveness of the retail industry more specifically for health and wellness. Nature of
supplement is growing to 3 billion industry in Canada, which looks for 70 per cent of Canadian
citizen taking the supplement (Wu & Li, 2018). The organization also have an idea that there is
plenty of room for another retailer for vitamin and healthy products. The organization has
branded itself as Nature Own Medicine for the market of Canada. They do not have a look for
further of the product. It has conducted a complete review of the competitive landscape in the
country. It is considered as a real opportunity for bringing new offering to Canada (Ismail et al.,
2018). The organization does not have only vitamins and supplements which focus on the health-
conscious consumer. It also carries a strong line for sports supplement that emphasizes on active
consumer.
Answer to Question 2
Nature Own Medicine comes up with strong line of sports supplement which focus on
some of the active consumers. The firm understand that there is plenty of room for another
retailer for both vitamin and healthy products. The customers of nature own medicine is looking
for some gummy multivitamins for kids, basics fish oil and required supplements (Olson et al.,
2018). The obscure herbs are those people which has become the most conscious regarding
taking care of health in particular way. NOM clearly highlights the level of assortment and
breadth, which is being offered to the market. It comes up with a level of service and knowledge
which completely engages different customers in conversation (Morgan et al., 2019). This
Document Page
BUSINESS RETAIL
merely imparts value to a different product. NOM stores are also known to be health enthusiasts
which is the core to which the company and what it does.
Answer to Question 3
Retail marketing mix can be stated as the variable where retailer can make use of variable
methods for having effective marketing strategy (Wu & Li, 2018). The retail mix of NOM has
been described below in details like
Product: The point should be noted that product is only the starting point of NOM
experience (Ismail et al., 2018). The level of service and knowledge is engaged where customer
conversation imparts value to product.
Price: The pricing strategy for NOM needs to consistent taking into account the overall
position of retail sales.
Promotion: In the first expansion outside the United States, the organization faced huge
number of challenges. The organization has tackled all the challenges by making expansion to an
organization-wide effort.
People: To achieve its objective, the organization completely understand that it need to
hire the right people (Olson et al., 2018). It can believe that the store stand for ambassadors for
both its product and values.
Place: NOM have its own distribution centers which has vendor for its distribution
centers that are ship out stores. In Canada, it has developed a direct-to-store delivery supply
chain model.
Document Page
BUSINESS RETAIL
Process: The Company has come up with in-store training exercise which emphasize on
number of things.
By making use of retail mix, Nature Own Medicine wants to amaze most of the
customers by impressing them with level of engagement offered to stores.
References
Ismail, M., Zainol, F. A., Daud, W. N. W., Rashid, N., & Afthanorhan, A. (2018). Application of
Entrepreneurial Marketing to the Marketing Mix: Why it Matters to SMEs in
Malaysia?. International Journal of Academic Research in Business and Social
Sciences, 8(12).
Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing
strategy. Journal of the Academy of Marketing Science, 47(1), 4-29.
Olson, E. M., Slater, S. F., Hult, G. T. M., & Olson, K. M. (2018). The application of human
resource management policies within the marketing organization: The impact on business
and marketing strategy implementation. Industrial Marketing Management, 69, 62-73.
Wu, Y. L., & Li, E. Y. (2018). Marketing mix, customer value, and customer loyalty in social
commerce. Internet Research.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
BUSINESS RETAIL
chevron_up_icon
1 out of 5
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]