Create a 2 page essay paper that discusses Walmart.
This is mainly due to the below stated points:
Flexibility in price- in remote areas, the stores of Wal-Mart desire to offer discounted prices in various products. As a result of which, a wide range of customers of varied living standards and life styles might access its products and services to a certain extent. Due to which, the image and supremacy of Wal-Mart enhanced thereby amplifying its profitability and reliability.
Wide range of products- in order to attain economies of scale, the organization of Wal-Mart desired to offer extremely trendy and fashionable products to its customers. As a result of which, the level of trust and loyalty of the customers increased that improved its supremacy and market value to a certain extent.
Good relationship with the suppliers- due to good relationship with the suppliers, the organization of Wal-Mart became successful in attaining its products very quickly at any part of the world. Due to which, the level of trust and consistency of the customers over this brand enhanced significantly that improved its level of sustainability.
Every day low price (EDLP) – every day low price is one of the most important strategies that helped Wal-Mart to attain its reputation and popularity in the market among other rival players. This type of pricing strategy enhanced the demand of the customers that amplified its total profitability to a significant extent (Mathews, 467-488).In order to enhance the market share and reputation in the market, Wal-Mart is trying to implement the strategy of opening ‘neighborhood stores’ as new formats. This is done in order to evaluate the transferability of competitive advantage of the organization of Wal-Mart among other rival players in this market.
Data mining facility- due to the facility of information technology (IT), the processes of the organization of Wal-Mart became extremely easier and quicker. This helped to increase the demand of the customers.