Chabuduo

Wal-Mart's Strategic Initiatives

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Early 2009 Wal-Mart introduced a plan that was hoped to ensure that the company would remain the industry leader. Project Impact is based on three strategic initiatives that will improve the benefits to the customer. The three initiatives are; Save Money, Live Better; Win, Play, Show; and Fast, Friendly, Clean. 

Wal-Mart is aiming to keep consumers happy and returning to their store once the economy improves. Over the last decade the company had lost customers as they frequented the newer stores of its competitors such as Target. By implementing Project Impact Wal-Mart is renovating its stores in the US by widening the aisles, lowering fixtures, improving signage, and adding natural light to give consumers a store that fees friendlier. 

Save Money. Live Better.

The first of the three initiatives is called Save Money, Live Better. This initiative has a number of components that Wal-Mart is following. 

* Price Leadership – The Company is well known for its “Every Day Low Pricing”, but Wal-Mart is aiming to give the consumer greater value for each product category. By achieving price leadership Wal-Mart hopes to ward off attempts by other retailers such as Target from gaining market share.

* Consumables – This component is an area where Wal-Mart are looking to reduce outlay. Changes will be made in promotional cadence, seasonal advertising and in store signage.

* Private Label – One area where Wal-Mart can increase revenue is to expand their private label categories. The current economic climate has consumers looking to save money and the value of Wal-Mart’s private label products should be good for the consumer as well as the company.

* Integrated Brand Communication – Although Wal-Mart is looking to reduce the overall number of suppliers and products, the company will be looking to remaining vendors to increase co-branded advertising campaigns.

* Leverage Selling General...