GNC Corporation: A General Overview
Brief Description of GNC
GNC has branded its name in the nutrition and supplement industry as one of the most trusted, recognized and diverse health wellness chains in the United States with over 6,000 domestic stores and additional locations in 69 other countries. The company offers competitive prices when it comes to name brand, designer and company brand products.
The supplement Industry is a 27 billion dollar a year enterprise that offers room for new products and competitors with no regulation from the Food and Drug Administration. GNC’s retail stores carry all of the latest products including protein powders, workout supplements, energy boosters, herbal remedies, omega-3, and other popular supplements. GNC guarantees all of its products with a refund policy if satisfaction is not reached.
The employees of GNC have significant product knowledge and are proactive in recommending specific supplements and explaining how to use them effectively along with clarifying what ingredients are being used. Customers are offered Gold card memberships which include discounts in the first and last week of every month as well as daily emails to notify of sales and new products.
The Company Vision
GNC’s vision is to be the most widely recognized and trusted name when it comes to the health and wellness industry worldwide. They promise to only carry the best products, for the best value that provide optimal performance to their respective customers. They expect their franchisees to run under uniform principles and provide exception service to their customers. The major competitors to GNC are the Vitamin Shoppe, Vitamin World and bodybuilding.com.
Stakeholders of GNC
GNC is a privately held company disallowing the potential for outside investors. It is not publically traded but there are people inside the company who are considered internal stakeholders. These are owners of GNC franchisees, creditors who loan money expecting a return on their investment, the board of directors, and general suppliers of GNC products. In addition, employees are stakeholders of the company. Without the commitment from all of these stakeholders, GNC’s success would not be possible.
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