The retailers should therefore purpose to blend traits that have the capability to work together and result to maximum customer satisfaction. Considering the importance of retail mix, it is therefore worth for a company to invest considerable time strategizing its retail mix. It is important to note that the more time and efforts a company puts on ensuring maximum customer satisfaction, the more customers it is likely to get. In addition, consumer satisfaction will be significant in ensuring a competitive advantage for the organization. For instance, once customers are satisfied there is a high probability that they will develop loyalty towards the organization and will not move on to the competitor organizations. Further, it will be possible to acquire more new customers. Nothing can feel good for any business person than making their business more profitable as compared to that of their competitors. A good retail mix will ensure this form of success. To develop a good retail mix, the retailer has to consider a number of elements namely; pricing, store layout and design, merchandising, location, communication and customer service. The retail mix for Wal-Mart are analysed below; a) Merchandise range and assortment This is a retail mix element that focuses on the type of goods the organization sells. Each organization has its own target market and target customers (Pradhan, 2010). When deciding on which
Marketing is one or the most important activities of an organization. It plays a big role in the success of any business organization. The main objective of a business is to make as much profit as they can…
Research uncovered significant advantages at Wal-Mart related to its current supply chain methodology, advertising and marketing focus, and in its corporate relationships with fashion manufacturers. Unfortunately, there are limits of the ability of Wal-Mart to establish significant market position as a fashion apparel leader and it provides benefit for supporting the divesting of Sean John and Phat Farm for the sake of building long-term equity.
The aim of the paper is to show the Wal-Mart company in the world's market. The company operates abundant large discount department stores and warehouse stores. Wal-Mart employs the service of 2,100,000 workers so as to meet the interests of its customers across the globe. It was the world’s largest retail industry and now it ranks at the third position.
In the quarter from May to July 2011, Wal-Mart sales were 108.64 billion dollars, with 61 percent of this coming from the United States. Wal-Mart started in 1962 as a small store in Arkansas. It has grown over the years to become the largest store in the world.
Wal-Mart initiated its operations in 1962 and it is a corporation that runs large chain of discount departmental stores along with warehouses in various countries (Walmart Stores, 2012). The store incorporated its operations officially in 1969 and start trading stock as the public holding company in 1970.
Still, in practice these initiatives have caused severe turbulences in local markets. The use of this strategy by a well-known megastore, Wal-Mart, is explored in this paper. The efforts of Wal-Mart to establish a store in a small town need to be reviewed as they can be related to a series of advantages and disadvantages for the community, especially for the owners of small businesses and the residents.
Due to the double-edged sword that large firms can have on communities, they have been the centre of social and economic criticism (Bianco et al., 2003; Fishman, 2006). Globalisation in terms of expanding and increasing number of multinational corporations, however, cannot be stopped or reversed.
It creates the basis on which the stakeholders of the firm derive a sense of belonging in line with the organizational goals. The art of listening harmonizes personal career objectives with the overall vision of the organization. On the other hand, the practice inculcates a synergetic spirit of teamwork and creativity among employees while opening the doors to product innovations which are customized to meet up the changing necessitates of the market.
A firm, regardless of the industry it belongs, has to design long-term and short-term strategies to pace with the changing business environment. Strategic efforts taken in this regard can be termed as sustainability efforts.
The use of this strategy by a well-known megastore, Wal-Mart, is explored in this paper. The efforts of Wal-Mart to establish a store in a small town need to be reviewed as they can be related to a series of advantages and
When large firms such as Wal-Mart enter communities, they have economies of scale and scope that allow them to affect the prices of goods, wages, and demand for different products in these communities. In BusinessWeek, Bianco et al. studied the pros and cons of Wal-Mart in local and national economic levels.
9 pages (2250 words)Research Paper
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