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Introduction How many retailers would one expect to be in the top ten of the global fortune ? There is one, and it has a firm second position, leaving behind mammoth companies such as Ford and General Motors www. Renowned in the United States for their discount centres, they have diversified into wholesaling to sustain the explosive growth of the seventies and eighties.
Making use of acquired knowledge in distribution and inventory management technology, these new formulas proved to be profitable as well. However, the United States of America were not big enough to satisfy the needs of such a giant company, and international expansion was inevitable.
The time seems right, as extensive liberalization has opened up the European Union and far-reaching economic integration between member states have created a huge common market, offering scale economies in purchasing and distribution similar to U.
Wal-Mart can use experience from previous foreign expansions to implement the correct strategy for Europe. It explains the following problem statement: After a short summary of their foreign expansion into South-America to stress the importance of the transferability of the concept of strategic fit, a description of the European retail industry will be given.
Then the European retail industry is analysed with the help of the generic five forces model from Porter. The paper ends with a conclusion hinting at the future of the European retail market. Sam Walton recognized the opportunity of locating discount retail stores in relatively rural cities and opened his first Wal-Mart store in in the town of Rogers, Arkansas.
From the beginning Wal-Mart stores have been offering low prices combined with a wide selection of merchandise and individual, friendly service www.
Supermarkets had educated consumers about self-service and many were ready to try cheaper self-service retailers. First, by locating many of its stores in relatively rural cities, Wal-Mart provided a much-needed service to customers who lived in or near these cities Barney, If we offer prices as good or better in cities that were four hours away by car, people would shop at home.
One can think of systems such as point-of-sale Uniform Product Codes UPC scanning, registering product sales and immediately replenishing them through an automated ordering system, intra-store radio frequency RF transmission of product UPC and pricing information between central store inventory systems and personnel with scanners on the store shelves.
Their most valuable infrastructure investments were made at a higher level. A satellite system connecting all stores was initially installed inand grew into a complex communication network that included all stores, headquarters, and distribution centers, as well suppliers.
This system has enabled a just-in-time process of inventory management thought to be impossible in general merchandise retailing, allowing rapid responses to inventory needs and reduces the amount of safety stock needed.
In distribution, Wal-Mart has been on the cutting edge of technological progress. As shipments arrive at the warehouse, merchandise is moved directly to the trucks carrying the outbound shipments to specific stores.
According to Sam Walton: Founder Sam Walton realized that friendly and helpful staff is what really counts in the retail business. This is why his business concept has always included very specific rules of conduct for the associates.
This rules also included agreements on how to give feedback to each other and how to welcome new associates into the team. Other rules teach associates that their individual effort and attitude has its reflection on the atmosphere in the store, on the functioning of the team and of the company.
Associates are encouraged to share their feelings with managers on whatever levels. It involves three steps for the associates and always applies when a customer comes within a ten feet radius of them.
This is an associate that welcomes customers at the entrance. Team spirit helps a lot when you want your employees to appear happy with their jobs. Competitors such as Kmart and Target can basically walk into any Wal-Mart store and copy the successful attributes of their strategy, or can they?
In fact, they cannot. The transferability of the strategic fit will be emphasized. After capitalizing on these new ventures, geographical expansion was the next threshold to pass. The first foreign store was opened in Mexico infollowed by expansion into Canada.
Wal-Mart currently operates stores of different sizes in Canada — of which were bought from Woolworth Corp.
Business in these two countries has always been relatively good.Wal-Mart is a Fortune international country with 5, stores in 26 countries. Wal-Mart is located in different countries, possibly under a different name.
This paper will discuss the four Ps of marketing and any differences observed in making this company international. Wal-Mart is a Fortune. WAL-MART CHAIN STORES NAME OF STUDENT NAME OF SUBJECT NAME OF UNIVERSITY DATE Wal-Mart is a retail store that operates more than four thousand outlets in the world.
It is the largest retail store in the United States of America and is largest retail chain in the world as well. Washington Mutual, Inc., abbreviated to WaMu, was a savings bank holding company and the former owner of Washington Mutual Bank, which was the United States' largest savings and loan association until its collapse in On Thursday, September 25, , the United States Office of Thrift Supervision (OTS) seized Washington Mutual Bank from Washington Mutual, Inc.
and placed it into. Wal-Mart Company Overview. 4 pages words. 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 Term of Service. Planet Ark is all about creating positive environmental actions, for everyone – but especially for you.
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