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Kroger's Private Selection Black Walnut Ice Cream
By; Ca'Sandra Girn
Dr. Montgomery
MKT 600
December 1, 2006
1. Describe the nature and scope of the company with a brief history.
It all began in 1883 when Barney Kroger decided to take his life savings of $372 and open up a grocery store in downtown Cincinnati. He set out to establish one thing and that was to " Be particular and, never sell anything thing that he would want to buy". The company now ranks as one of the nation's largest retailers. Barney Kroger became the first grocer in the country to establish in-store bakeries and sell meats and groceries under the same roof. The company operates on three basic business principles: service, selection and value.
Since Kroger's came to be in 1883, they have been innovators in the Supermarket industry. In the 1930's Kroger's was the first grocery chain to routinely monitor product quality and test foods offered to the customer. In 1972, Kroger became the first grocery retailer in America to test an electronic scanner. In the 1970's the company became the first grocer to formalize consumer research.
Kroger's Co. now has evolved into 290,000 employees with 2392 supermarkets, warehouses, multi-market stores and financial services. They have over 750 convenience stores, 41 processing plants and 420 jewelry stores. There are over 1900 pharmacies located in most of their stores which are located in 31 states in the U.S. The company holds #1 or #2 spots in 35 of the 44 markets that they operate in. This position has helped the company gross over $60.6 billion last year.