Walmart Stores Introduction - Case Study Example

XXXXXXX Number: XXXXXX XXXXXX XXXXXXX XXXXX XX – XX – 2009 Number of Words: 1047 (Excluding Works Cited) Introduction to and Fundamentals of Strategic Marketing – SLP 01: Case – Wal Mart Name of Organisation: Wal Mart Stores, Inc. Address of the Company: 702 SW 8th Street, Wal Mart, Bentonville, Arkansas 72716-8611 Introduction to the company: Wal Mart has been in the industry for a number of years. Wal Mart was incorporated in 1962 with a vision to become the world leaders in retailing. The company has over the years developed a brand image and market place to become the biggest company in the industry. Wal Mart has been able to gain a position so big that it is thrice as big as its closest competitor. The company’s signature for almost five decades has been ‘Everyday low prices’. The company’s main stakeholders are the shareholders, customers and employees (Wal-mart, 2008). Wal-Mart’s Mission: "To give ordinary folk the chance to buy the same thing as rich people" Wal-Mart’s Vision: “To become the world leaders in retailing” (WalMart). Product / Services Catalogue: Wal Mart deals in numerous products and services. The various products that the company deals with are as follows (WalMart): Departments Product Description Apparel The company deals with numerous items of interest in the Apparel section. These include something for all in a family. The products range from accessories, to baby needs and also clothing for all sizes and ages. Baby Wal Mart provides the customers with all the needs for babies, and provides a wide range of brands to choose from as well. The baby products include items from baby registry to even travel solutions for babies. Books The company deals with a wide range of books and provides the customers with best sellers and new releases all through the year. Electronics Wal mart deals with a wide range of electronics from mobile phones to home theatres and a wide range of brands. For the Home This department includes almost everything one would require for their home. From furniture, crafts, heating and cooling, luggage, outdoor living and even pets. Gift & Celebrations Wal mart has a wide range of products to cater to the needs as gifts and celebrations. They deal in gift baskets, personalized gifts, flowers, and many more gift related items. Grocery All home needs in terms of groceries are available at Wal mart. The company deals with all brands and is a single solution for all the grocery needs at home at very affordable prices. Health & beauty There are pharmacies that are present at the stores. The company deals with all the health and beauty related items and even provides customers with massages and spa Jewelry A wide rage of jewelry is available at the store. This ranges from bracelets, earrings, to rings and watches. Movies Wal Mart holds a wide range of movies and also stocks blu ray disks, TV Shows, and all new releases. Music Along with the wide range of movies the company also deals with a wide range of music CDs as well. It has almost all latest CDs and all the MP3 Music downloads as well. Outdoor Living The stores stock almost any item that relates to the outdoor living solutions. These also include the furniture needs and gardening needs Pets Wal Mart deals with the pet supplies and deals with all small animals, cats, dogs, fishes and many more Photo Center The company provides solutions in terms of calendars, exclusive Card designs, memory books, and also prints of photos. Sports & Fitness Wal Mart caters to all needs of the customers in terms of sports. The company provides various options and brand for almost all items which range from cycles, to camping and even GPS navigations. Toys There is a wide range of toys to cater to the needs of almost all ages and genders. These include, action games, pretend plays, preschool, kids electronics and many more Video games Wal Mart stocks a wide range of games like the Nintendo Wii, PC Games, PSP, PS2, PS 3 and even the Xbox 360. As seen the company deals with a wide range of products and services. The company is a one stop shop for all the requirements of the customers and provides a complete home solution to the customers (WalMart). Competitors: Being such a vast and wide spread company, Wal Mart is faced with high levels of competition (Glee). The company faces competition not only locally but also internationally. Wal mart ranks second in the Fortune 500. However it still faces high levels of competition from various companies like Krogers, Carrefour, Costco Wholesale, Tesco, Target and many more. In terms of its products, the company has a wide range of brands that it provides apart from the own brand. Hence the competition faced by the company is not only from other departmental stores and super markets but also the brands that are sold within the own stores. Market Position: Wal Mart has created a strong brand name over the years. The company stands on the top of Fortune 500 list with the highest revenue. The company has created a strong brand image in a number of countries. The company earns its main revenues from US and this accounts for almost 75% of the total revenues (Glee). Wal Mart has used a very strong initiative of starting its own brands and creating a good mix of private brands as well the company has provided its customers with a wider range of goods. The techniques has not only allowed the company to gain a stronger market but has also led the company to have a strong competitive advantage as well (Baldwin). This along with the strong marketing techniques is the key to the success of the company. The company has a number of strengths and is aware of this. Wal Mart utilises all of its strengths and it has built a strong brand image and a strong market position in over 14 different countries. Wal Mart is one of the only companies to utilise the strong market knowledge to such great extent and to use the brand image well and acted upon it to expand. All of the company’s actions are focused towards the final goal, i.e. its mission and vision of becoming the world leaders in retailing (WalMart). Admits this however, the company is still customer centric along with catering to the needs of all of its stakeholders as well. Works Cited Baldwin, D. The Path to Strategic Success: Strengths and Weakness. 2008. 12 October 2009 . Glee, S. Wal -Mart CEO Outlines lofty green goals. 24 January 2008. 12 October 2009 . WalMart. About - us. 2009. 13 October 2009 . Read More