Wal Mart

Good Essays
rtWal-Mart
2) Wal-Mart does very well when the economy turns sour. How can it protect itself when the economy is on the rise? Explain.
Wal-Mart can protect itself through a few strategies. First of all, they can start by building a wider product portfolio. Wal-Mart can try to bring in more products and add more variety to its offerings. The more products that are offered, the more customer base that can be captured. With the existing products, Wal-Mart can add on more varieties for their customers to choose from.
Paying attention to the market wants and needs are important for a company where its main customers are the average users and consumers. Wal-Mart can offer the products with different price range and also different types and sorts so that their customers can choose even though the products they are offered are already cheap. Many people assume that they do not have the opportunity to choose because they are depending on the price of the products. Wal-Mart can offer and allow their customers to choose.
The act of Wal-Mart allowing and giving their customers a choice to choose from, they will also be able to secure to build stronger customer loyalty. They will able to secure a better and stronger relationship with customers. Customer loyalty in the retail field is rather vital as they rely on customers to provide them with a market to provide for and also they have to depend on the customers when there is a fall in the economy where customers are the ones enabling them to sustain. Without customer loyalty, they will not be able to sustain for a long time, regardless of their marketing strategy and also the price of their products.
A sight for sore eyes, this is a common proverb used to describe the beauty of something or someone. For customers, a sight is when the atmosphere of the outlets is clean and bright. With an appealing and beautiful layout, more and more customers will be attracted as they notice that it is a nice environment to shop in. A

You May Also Find These Documents Helpful

  • Good Essays

    Due to its enormous size and large number of stores worldwide, Wal-Mart has the tremendous bargaining power with its suppliers and thus it purchases products at lower prices.…

    • 1107 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Wal Mart Executive Summary

    • 1914 Words
    • 8 Pages

    Wal-Mart provides a large variety of products and services to make them useful to our customers. We are especially focused on providing high quality dependable merchandise and services to small and medium and large families.…

    • 1914 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Wal Mart

    • 1969 Words
    • 6 Pages

    Wal-Mart is an American multinational retail corporation and one of the leading discount department retail stores (Wikipedia). It is the highest- grossing company in the United States (Fortune 2008a), and is by far one of the most successful companies worldwide. Wal-Mart offers a place to buy the majority of our goods under one roof like electronics, furniture, clothing, pharmacy, sports, food, books etc. Wal-Mart sells good at lower price than the others and this is even shown by its slogan “save money, live better”. It drives out smaller and sometimes even the expensive stores out of business due to its lower prices. Wal-Mart provides jobs for thousands of people in the society including the low-skilled people. It represents a trend of one stop shopping where we can get almost everything that we want.…

    • 1969 Words
    • 6 Pages
    Good Essays
  • Good Essays

    Wal-Mart doesn’t limit its products to one specific need, but to any kind of need. When setting foot Into a Wal-Mart it may be overwhelming to see all of the products to choose from. “A quick look around at the store in Paris makes clear what an employee is up against: thousands of items (90,000 in a typical Wal-Mart)” (Olsson 612). To list a few items, Wal-Mart carries hardware, food, toys, and school supplies. Other stores that specialize in selling these products will lose a good percentage of customers that are needed to keep their business running. This variety can also potentially discourage customers from ever using different businesses. Nonetheless, these different areas of goods will satisfy the needs of many people when located in one area. People may come in for a specific item, simply because they are able to purchase it at the lowest price possible. Another common scenario is that someone may go there for multiple purposes instead of just one. For example, one can complete his or her grocery shopping, while purchasing a computer that is needed for school. Instead of traveling through town to find the same type of a computer for a lower price they can do it all at Wal-Mart because of the convenience the store offers. Not only small businesses but also larger companies can be hurt from this type of convenience. “The average Wal-Mart customer earns thirty-five thousand dollars a year” (Mallaby 621). Best…

    • 888 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Local Business Bus/210

    • 319 Words
    • 2 Pages

    The first component of Wal-Mart is business commerce. Business commerce is when Wal-Mart exchange good and services with other businesses. For example, Wal-Mart has a hair salon service; I love to get my hair done every other week. Also, many Wal-Marts provide banking services and some fast food services. Wal-Mart has stock trades also. Another main component of Wal-Mart is business occupation. Business occupation is the acquired set of specialized skills and abilities that allows Wal-Mart to create valuable goods and services. When my husband started at Wal-Mart he had to undergo several trainings to ensure that he understands the business and also that he provides customers with excellent services. Wal-Mart provides thorough training to its employees so that they can keep the customers coming back. Customers always value great customer service. I think this is one way Wal-Mart remains ahead of its competitors. The last main component of Wal-Mart is business organization. Business organization is the system of task and authority relationship which coordinates and controls the interactions between people so that they work toward a common goal. Wal-Mart’s common goal is to provide low prices. They try to provide lower prices than their competitors. They are about saving their customers money. They have reduced the costs of their retail and other products in the store. There are many Wal-Marts around the world and they provide the same services in all of them. I love Wal-Mart and I agree that they have prices lower than many other retailers. I definitely agree with their slogan, it is so true. “Save money, Live better”.…

    • 319 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Marketing Mix Paper

    • 1153 Words
    • 5 Pages

    The first element of the marketing mix that will be explained how it affects the development of Wal-Mart’s marketing strategy is product. A product “involves a physical good, a service, or a blend of both (Perreault, Cannon, & McCarthy, 2009).” The product also includes any size, design, certain brand names, quality, packaging, variety of product, and service. Wal-Mart stores provide customers with all different types of product that are in different size packages and different qualities because they are different brands so all products are completely different from each other. The product is the main focus in…

    • 1153 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    Why Wal-Mart successful?

    • 484 Words
    • 2 Pages

    The first reason why Wal-Mart is so successful is because it offers low price for customer. Experts estimate that Wal-Mart saves shoppers at least 15 percent on a typical cart of groceries. To keep the prices low, Wal-Mart required manufacturers to be more efficient and leaded these suppliers to move manufacturing jobs overseas especially to China. Besides, “Every day low prices” strategy helps Wal-Mart to build up a low-price image and the consumption habit from the shopper. Therefore, many people become a loyal customer and shop more frequently in Wal-Mart instead of other grocery stores.…

    • 484 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Walmart Online

    • 326 Words
    • 2 Pages

    I feel Walmart has attempted to position themselves on their website as the one stop retailer for whatever a consumer may want. It showcases everything on the site from Elctronics, furniture, and groceries. On top of having everything at one place, they also offer free shipping making shopping at Walmart online not only convenient, but also at bargains of prices and an easy way to get it.…

    • 326 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Price and Rubbermaid

    • 550 Words
    • 3 Pages

    They keep their prices low but make profits on high volume and fast turnover. Wal-Mart is most admired for its reputation in cost cutting and low prices. Wal-Mart is known to have very low and cheap prices for their products. It stops the need to go look for a bargain at other stores because we know that we won’t find a better deal elsewhere. This way we not only save money but time and gas too. Driving around to different stores to buy all the products is time and gas consuming. Low cost imports from Asia were vital components for Wal-Mart’s low opening price point strategy.…

    • 550 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    As for Wal-mart's business strategy, it is not wholly unique. Their strategy is to demand lower prices from their suppliers so that they can pass on those savings to the consumer. The supplies to comply and offer the largest cuts are often featured in higher supply within the store, suppliers who do not wish to lower their prices are simply not featured. Many companies including but not limited to K-Mart, Home Depot, and Lowes all practice this same formula. The difference is that Wal-mart is successfully pushing their products.…

    • 428 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Marketing Mix

    • 920 Words
    • 4 Pages

    Wal-Mart has an interesting marketing mix. Product is the first category in the mix. Almost everyone knows that Wal-Mart is a one stop shopping center. They sell everything from food to household products such as cookware and small appliances. In 2006, the company decided to make an attempt to attract more affluent customers (Smith, 2010). While this attempt failed it was an interesting idea (Smith, 2010).…

    • 920 Words
    • 4 Pages
    Good Essays
  • Better Essays

    The main issue facing the management of Wal–Mart is how to sustain their extraordinary growth that they have sustained over the years in their growth in profit margins and growth in sales. As the domestic market reaches saturation, a strategy for at home and for global expansion will be necessary. Wal-Mart faces many direct and indirect competition in retail, but I feel that the use of their state of the art supply chain management built in with their partnerships with suppliers gives Wal-Mart an edge over the competition. Wal-Mart has been very successful in creating share holder value, and customer value. Wal-Mart strategic vision is to be the low cost-leader, this strategy has helped Wal-Mart to penetrate and fulfill the market with their services. Even in a bad economy Wal-Mart does well. This is a good business model to have and to…

    • 2022 Words
    • 9 Pages
    Better Essays
  • Good Essays

    Six Paths Analysis

    • 457 Words
    • 2 Pages

    The buyer utility is obvious, peddling the most popular and essential items from a dozen different stores into one location. Rather than spend an entire day shopping, a common customer can go directly to Wal-Mart and purchase if not all the items on their shopping list.…

    • 457 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Wal-Mart is the largest and most successful retailer in the world. It employs more people than any other private company in the United States (almost 1.2 million) and has world-wide sales of over a quarter trillion dollars, more than four times that of its nearest competitor. The foundation of this impressive record is the company’s ability to keep it promise of customer-friendly service and low prices.…

    • 4451 Words
    • 18 Pages
    Powerful Essays
  • Good Essays

    Hbr Wal-Mart Case Study

    • 658 Words
    • 3 Pages

    Although Wal-Mart does have a lot of investment capital accrued, this capital advantage may be at risk given a few miscalculated expansions (stores, number of products/services, etc) and negative global economic trends (recessions, droughts, etc)…

    • 658 Words
    • 3 Pages
    Good Essays