Walmart’s business strategy

Walmart is one of the world's largest retailers and has been in the news for the fact of becoming a technology-centric company apart from being a traditional retailer. Slowly and steadily, it has shifted its focus and enabled strategies to become an innovator that is high technology-based. For almost a decade, the company has been investing heavily with start-ups, which is also one reason it is on the list of Fortune 500 companies with rivals such as Amazon.

Apart from being a business rocker, it has been able to provide hiring in 2022 with a lot of professionals in cyber security, architects, developers, software engineers, scientists, data engineers, program managers in technical fields, and product managers. It does make one wonder if there has been a reason behind the company taking such steps which are completely based on the strategies of making the business at a level of prosperity. So, let’s look at Walmart’s business strategy.

What is Walmart’s Business Strategy?

Offering a range of products

The major strategy which is stated and understood is the core competence of the company where it is on an everyday basis tries to put the low pricing strategy, which has been useful in growing the market share and there has been an increase in the market share.

The company offers a large range of products of good quality and at a low price as compared to other competitors in the same field. This has been one of the most effective ways through which the brand has been to build customers and their loyalty. The major focus is the low price and the customer service, which made it to be one of the friendliest brands in America.

Walmart buys in bulk from the suppliers who also help them get the extra prices to slash, and this benefit passes on to the customers who buy products from the company. This is an essential way to provide business in a way that is customer-centred.

Diversity in products

The brand has accumulated a large assortment of quality services and products. The pricing rules, pricing strategies, and strengths also offer a wide range of entertainment products, apparel, hard-line, fuel, and financial services. This variety helps gather a large number of people and helps ensure that the company and the brand are taken up further.

Customer service

Customer service is another strategy that has been helping the company to soar high. This is also an essential part because a customer-centred business focuses on the strategy, which is higher customer service. The higher form of customer convenience means a popular one and faster growth in the customer as well. This provides a way of customer satisfaction, one of the most important ways to make a business grow and produce significant effects. In this concern, the company has been efficient in making stress customer satisfaction.

Growth of technology

Another way which has been used enables and maintains its growth through technology. The company has been fully established and ionizing in e-commerce, purchased a large stake of the brand named Flipkart, and developed its website in 26 countries. These are some main strategies that have been helping in advantage in the competitive field.

Employees and finances

Coming to the employees of the company, it was heard that the employees are being paid less as compared to the business which the company does. But with the advantages and financial strength, they have been able to allow it to retain its advantage while paying its staff well. Recently, wages have increased with paying properly to the employees. Generally, The fiscal end is excellent as the revenues can raise up to 15 billion; therefore, it is also a major groping factor analysed in providing a scope of a better brand name.

A friendly brand image

With these appropriate steps, the company has been taken as a friendly brand, and it is also a major strength because of its higher popularity, which has helped improve its market share. Also, the low pricing strategy has helped it gain popularity in its field.

Conclusion

If you conduct Walmart's business strategy analysis, you will get the following results. Walmart has been one of the most developing organizations, and the growth has been stronger with the passage of time. Mexico has the largest market for Walmart, with stores where the number was 2411, and its revenue from Walmart was 118.1 billion dollars. This figure is obtained after the US Walmart. It has also entered the market in India through the brand Flipkart making it more popular.

The strategies discussed have been followed and have given very effective results as well. Walmart has been using and portraying a lot of strategies and setting examples for other businesses as well, which would be taken care of and followed properly can give outstanding results in the same way it gave to the company named Walmart. It must further eye on the expansion on a larger basis and take steps which would help make the business more and on a long term basis.

In the sample assignment, the experts are available and competent enough to figure out and help the students with the evaluation of the business strategies. Sample assignments do have business assignment helpers and assignment providers who would help with assignments and make students understand the analysis. They would work to provide help in the evaluation of any organization.

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References

Pandey, R., D, D., Jayant, J., Vashishth, K., Nikhil, N., Qi, T. J., Kee, D. M. H., Mei, T. C., Xin, R. Y. K., & Qhi, L. Y. (2021). Factors Influencing Organization Success: A Case Study of Walmart. International Journal of Tourism and Hospitality in Asia Pacific (IJTHAP), 4(2), 112–123. https://doi.org/10.32535/ijthap.v4i2.1059

Mehta, R., & Sriram, R. (2020). Dmart : The Indian Walmart. Iimcal.ac.in. https://doi.org/https://www.iimcal.ac.in/case-studies-lists#accordion-5