The Walmart’s history goes way back to 1996, when the first store was open by founder Sam Walton in Roger, Ark. Sam Walton Believed firmly in customers getting the best service possible. Competitors doubted Sam when he share his idea of low price along with great customer service. Walmart was built on the principle that customers comes first no matter what. Sam rely solely on give the best customer service great customer experience. In 1992, he was awarded the President of Freedom by President George Bush because of his commitment to serve customers. "If we work together," he said, "we 'll lower the cost of living for everyone...we 'll give the world an opportunity to see what it 's like to save and have a better …show more content…
Walmart launched a prescription service where customers get a 30-day supply for $4. Walmart is said to offer the lowest price for generic medications in addition to being the lowest pricing company in the industry; creating the perception that they offer the lowest price on everything. This model attract customers even more because they can get almost everything in one location at a very low price. “Walmart 's Supercenters have tended to focus on offering an enormous array of products at very low prices” (Business Insight), Walmart stay on top of competitors because of this smart invention with prices. While this low price is good for customers and create competitors advantage, creating the perception of the Best Value is great. If the communication of the value provided with the business is not clear, customers will choose the lowest perceived price so either way Walmart is …show more content…
Walmart earnings reportedly is $4.43 billion which result in a 21% decline. The number of people per household as dropped; hence, revenue for retailers lessens.
Walmart strive to make these change because of the decline they experienced. Inventing initial changes may help the Walmart stock, earring, and profit increase. The whole idea is to get customer in and provide great customer service so that it will boast the overall performance. Although Walmart believe highly in great customer service, one of the reason the witness these decline is because of employee satisfaction. This is one of the main problem the company is facing. If the employees aren’t happy, customers will be affected. Because of this problem, shareholders vote for changes that will result in new management. According to an article on business Insight, Walmart executives on projected optimism about the future and celebrated the company 's performance. Walmart revenue last year was $473 billion, the World Bank 's figures equal to the gross domestic product of