Wal-Mart is a company that leads its industry in numerous areas. The areas which impress are the accomplishments the company has made. “About 140 million people in 11 countries shopped at Wal-Mart …every week. More than half of American shoppers visited Wal-Mart at least once a month…an estimated 82 percent at American households have made at least one purchase at Wal-Mart” (Bianco, Zellner, 2003).
Less impressive is the company being involved in over 6000 active lawsuits and what seems to be a proven track record of forcing out smaller business in the areas it locates to, putting many people out of work.
Wal-Mart’s Success can be contributed to leadership, strategy and execution. They have implemented a winning, “can do” attitude of putting the customer first in everything and stream-lining all areas of the company, from the leaders down to the associates. This was superb implementation and execution by the leaders to actually take the time to think of everything the company needs to consider from the top, down. The company continues to evaluate how to be cost effective in getting products to the stores, keeping track of inventory, and earning customer loyalty. Evaluating ideas to increase sales and how to better operate the stores has played a key role in their success.
This researcher would characterize Wal-Marts’ strategy as Market penetration and Market development. Market penetration is strategies focused “primarily on increasing the sales of present products to present customers” (Donnelly, Peter, 2007). Market development is pursing growth of the company by seeking “to find new customers for its present products” (Donnelly, Peter, 2007). C...
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... Wal-Mart CEO Lee Scott said it best, “Wal-Mart can take a leadership role, get out in front of the future, and make a difference that is good for our business and the world" (cited in PR Newswire, 2008 ¶ 2). Wal-Mart will continue to be the leader in every market it conquers by continually doing these things.
Bianco, Anthony, & Zellner, Wendy (2003, October, 6). Is Wal-Mart Too Powerful? Business Week, p. 102.
Donnelly, J, & Peter, J. Paul (2007). Marketing Management: Knowledge and Skills. New York, NY: McGraw-Hill Irwin
Jonathan Birchall in New York (2008, January). Wal-Mart stands out amid retail misery. FT.com, 1. Retrieved January 28, 2008, from ABI/INFORM Global database.
Wal-Mart Expands Leadership on Energy Efficiency, Ethical Sourcing and Health Care. (23 January). PR Newswire, Retrieved January 28, 2008, from ABI/INFORM Dateline database.