Wal Mart Company Overview Essay -- essays research papers

â€Å"Basic History Overview† 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 theirs 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 it’s own. Wal-Mart guarantees everyday low prices and considers them the one stop shop. Case Overview   Ã‚  Ã‚  Ã‚  Ã‚  The case study starts off with quotes from Wal-Mart executives with their thoughts of how employees/consumers should feel about the arguably most innovative retailer. â€Å"Wal-Mart employees who do not think globally are working for the wrong company.† â€Å"Wal-Mart must think and act as if it’s a global company. Otherwise, it cannot grow enough in the United States to maintain its stock price. It needs to be in South America. It needs to be in Asia. It needs to be in Europe.†   Ã‚  Ã‚  Ã‚  Ã‚  Wal-Mart has taken their mind and cash over the last 20 years to become the world’s largest retailer. Wal-Mart had a base of 2,200 stores in the 80’s, closing out of the 90’s with a bang of 3,600 stores and $4.4 billion in net income. Spurred by NAFTA, Wal-Mart took advantage foreseeing potential growth in the foreign markets. Currently they have stories in the following countries: Mexico, Puerto Rico, Canada... ...nment.   Ã‚  Ã‚  Ã‚  Ã‚  One of Wal-Mart’s main competitors would be Franklin, which is currently struggling at this time. (I better get my Wal-Mart set up quick.) Many of the Australian retailers such as Aldi, Tesco, and Ahold, who previously relied on specials, would be forced to reduce their daily prices to compete with Wal-Mart’s everyday low price strategy. Low-Prices are the foundation of Wal-Mart’s ideas and strategy and could surely beat out Australia’s smaller end retailers. Another are in which Wal-Mart would prosper is with tourists,. Wal-Mart is well known and trusted , and in high tourism cities such as Sydney, travelers would be more likely to shop at a place they know and trust. Its inevitable that while on vacation for example, people forget to pack or run out of necessities such as toothpaste, shampoo, and deodorant, etc. Why not go to Wal-Mart and get all these things and pick up the few extra goodies you didn’t realize you needed.   Ã‚  Ã‚  Ã‚  Ã‚  I thinks Wal-Mart’s normal marketing strategies are traditional marketing strategies, ideal for the Australian culture. Australians expect the quality they need at the prices they can afford.