Wal-Mart Success Strategies
Wal-Mart is one of the leading business corporations across the globe. Wal-Mart’s success is linked to its superior strategic approaches to its operations and activities in the competitive marketplace. Consumer sensitive approaches and strategic location are some of the strategies that stand out for the success of the large global online retail business (Fishman 6-8). As depicted in the article, Wal-Marts sensitivity to consumer needs: especially price sensitivity, has enabled the company to have higher sales. It is imperative to note that consumers are price sensitive, and therefore, changes in prices of commodities are likely to affect consumers’ buying behavior. Wal-Mart has managed to maintain its customers and even attract new customers by delivering high-quality products at prices lower than most of its market rivals. Fishman (6) posits that providing high-quality, low-cost products have been a brilliant idea behind Wal-Mart’s history of success in the competitive market.
Another strategy that has made Wal-Mart succeed is the strategic location of its outlets and deports. The strategic location of Wal-Mart outlets makes it the most-shopped from the company since the shops are located within reach of most of the customers in their residential estates and suburban areas. According to Fishman (8), the unlimited number of Wal-Mart stores across the US makes more than 130 million to shop from the shops owned by Wal-Mart. Additionally, he posits that over 90 percent of American households are purchased from Wal-Mart. Besides, the company also has proper global positioning that makes it have equally better sales in the global markets. The company has several outlets in Great Britain, Spain, and Asia and across the globe. It thus enjoys a more clientele base due to its penetration strategy.
Works Cited
Fishman, Charles. The Wal-Mart effect and a decent society:
Who knew shopping was so important? Academy of Management Perspectives,6-25, August 2006.