Wal-Mart’s Ongoing Success Article

Wal-Mart's successful strategy is founded on selling recognized consumer products at cheaper, which has allowed the lower and middle school consumers to discover the products they desire at an extremely competitive price. One way Wal-Mart has guaranteed its extended success was through marketing strategies that certain " day-to-day low prices” as a way to entice customers, allowing consumers to buy goods by a " sale” value that was lower than your competition. The prices of products were able to continue to be low generally by having a higher volume of items readily available. In addition to greater volume, a high percentage of imported items helped retain prices at a minimum. In 1995, Wal-Mart predicted that six percent of its total merchandise was imported. 10 years later, specialists estimated that Wal-Mart imported about 60 percent of its items. Technological innovations are also a huge factor in Wal-Mart's achievement. It pushed the selling industry to establish the universal bar code, which forced manufacturers to consider common marking. The bar allowed retailers to build all kinds of data, creating a shift of electric power from manufacturers to stores. Wal-Mart became especially proficient at exploiting the info behind the bar code and is also considered a pioneer in developing sophisticated technology to its inventory. Technology which has been successfully integrated is The airwaves Frequency Identity Technology (RFID), and offers resulted in a 16% decrease in out-of-stock merchandise, ensuring that the products the consumer demands will always be readily available. Proctor & Gamble, Clorox, and Johnson & Manley are some of the big names between Wal-Mart's nearly 3, 000 suppliers; however , Wal-Mart can be careful not to become also dependent on anyone supplier. Therefore, no single vendor constitutes more than 4 percent of it is overall order volume. The frugal culture, established by Walton, also plays into Wal-Mart's success. The company has been criticized for the meager...

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