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Topic 5
Wal-Mart
The World’s Largest
Retailer
History and background
1962,Sam Walton and his brother opened
the first Wal-Mart discount store in smalltown Rogers, Arkansas.
It was a big, flat warehouse-like store that
sold everything from apparel to automotive
suppliers to small appliances at very low
prices.
http://www.walmart.com/
Strategy
Experts gave the retailer little chance
---conventional (usual) wisdom suggested
that discount stores could succeed only in
large cities.
The company has taken its winning formula
(rule) into new growth areas.
For example, the company is now well
established in larger cities and is
expanding rapidly into international
markets.
Global market
Within only a few years of entering the
grocery business with its supercenters---and more recently with its
small Neighborhood Market stores--Wal-Mart will soon become the
nation’s largest grocery retailer.
〝Wal-Mart will be number one land
and online.〞
Key point
What are the secrets behind this
success ?
Wal-Mart listens to and takes care of
its customers, treats employees as
partners, and keeps a tight rein
(control) on costs.
Listening to and Taking Care of
Customers
Wal-Mart positioned itself strongly in a
well-chosen target market.
The chain built a strong everyday lowprice position long before it became
fashionable in retailing.
It grew rapidly by bringing the lowest
possible prices to towns ignored by
national discounts.
Listening to and Taking Care
of Customers
Wal-Mart knows its customers and
takes good care of them.
As one analyst puts it, 〝The company
gospel truth)…is relatively simple:
Be an agent for customers, find out
what they want, and sell it to them
for the lowest possible prices. 〞Thus,
the company listens carefully.
Listening to and Taking Care
of Customers
For example, each topic Wal-Mart executive
spends at least two days a week visiting
stores, talking directly with customers and
getting a firsthand look at operations.
Then, Wal-Mart delivers what customers
want: a broad selection of carefully
selected goods at unbeatable prices.
Concludes Wal-Mart’s current president and
chief executive, 〝We’re obsessed with
delivering value to customers. 〞