Final Project: Wal-Mart
Theresa Patterson December 30, 2011
Wal-Mart is a successful retail corporation that is known worldwide. The retail company has created economic benefits for consumers that are extremely tremendous. Wal-Mart has provided more choices for consumers at lower prices in communities where local retail monopolies were evident prior to this retail chains arrival. This company operates their retail stores in numerous formats worldwide. Their commitment is saving people money so they can have better lives. With that being said, we will begin by analyzing Wal-Marts environment and the many challenges they face as they embrace the future.
The birth of discount retailing began in 1962 the year that Kmart, Target, and Wal-Mart first opened. But before then, Sam Walton actually owned a chain of variety stores during the 1950s and they faced stiff competition from many regional discount stores. Before Sam Walton opened Wal-Mart, he traveled the country studying and learning everything he could about discount retailing. He was convinced American consumers wanted a different type of store. Trusting his vision, Sam and his wife Helen put up 95 percent of the money for the first Wal-Mart store in Rogers, Ark (Wal-Mart history). From then on the company begins to flourish and would later become chain of retail stores.
There is no argument that Wal-Mart has completely changed the discount retail industry. Understanding a company’s market structure and landscape will help marketers develop marketing plans that establish marketing strategies that are successful. As part of a business plan, the market structure definition and competitive landscape is a vital part of planning an effective advertising or other marketing campaign. In a market of perfect competition, no barriers to entry exist, and many offering
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