Walmart

Wal-Mart's company profile

By:

Frank LoMonaco

SLP Assignment

Module 1

MGT 301: Marketing Strategy

TUI University

Dr. Chika E. Duru, Core Professor

Date: 10/17/2010

Frank LoMonaco

SLP Assignment

Module 1

MGT 301: Marketing Strategy

Today Wal-Mart is the biggest retailer in the world and is one of the biggest employers with over 2.1 million full and part time employees worldwide. The company has 8,000 stores worldwide with over 4,200 in the U.S which includes not only Wal-Mart stores but also Sam’s Club warehouse stores but like many successful business they have a very modest beginning.

Wal-Mart's history is one of innovation, leadership and success. It started with a single store in Rogers, Arkansas in 1962 and has grown to what is now the world's largest - and arguably, the most emulated - retailer. Some researchers refer to Wal-Mart as the industry trendsetter. Today, this retailing pioneer has annual revenues of over $100 billion, 3,000 stores and more than 750,000 employees worldwide. Wal-Mart operates each store, from the products it stocks, to the front-end equipment that helps speed checkout, with the same philosophy: provide everyday low prices and superior customer service. Lower prices also eliminate the expense of frequent sales promotions and sales are more predictable. Wal-Mart has invested heavily in its unique cross-docking inventory system. Cross docking has enabled Wal-Mart to achieve economies of scale which reduce its costs of sales. With this system, goods are continuously delivered to stores within 48 hours and often without having to inventory them. This allows Wal-Mart to replenish the shelves 4 times faster than its competition. Wal-Mart’s ability to replenish their shelves four times faster than its competition is just another advantage they have over competition. Wal-Mart leverages its buying power through purchasing in bulks and distributing the goods on its own. Wal-Mart guarantees...