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Discuss FIVE (5) factors for Wal-Mart from a marketing perspective that has contributed to the companys success.

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Introduction

Question 1 Discuss FIVE (5) factors for Wal-Mart from a marketing perspective that has contributed to the company's success. 1.1 The Price When I am walking in the Wal-Mart stores, I rarely see $ 2.99 or $ 5.95 price which ate so close to an integer; but more to see is $ 2.73 or $ 5.22 as the price of cards. Why is this? Since 1962, the first Wal-Mart Discount City was opened in Rogers, Arkansas, (Carbaugh, 2010) nearly half a century, Wal-Mart's founder Sam Walton, has been to provide the maximum possible lowest cost to consumers of goods as a fertile Mart's business objectives. Wal-Mart's success is also due to the simple and ordinary sense. Sam Walton believed the combination of great service and everyday low prices would attract customers just like bees to honey, and he was right. (Bergdahl & Walton, 2007, p 271) As Bergdahl & Walton described (2007) that the products, selection, merchandising and low prices are so attractive to customers that they simply stop shopping anywhere else. The result for competitors can be devastating as their previously loyal customers switch their loyalties to shop for Wal-Mart's every day low priced products. How Wal-Mart can have made the low price every day? In the 80's, Wal-Mart adopted a policy to require manufacturers to exclude from the transaction of sales agents, direct orders to the manufacturer, and it would reduce the purchase price of a 2% to 6% off, roughly equivalent to the amount of commission sales agents. Sometimes, in the buyer arduous negotiations, maybe the exchange for the results of the price that was less than the competition only a few cents less. But for consumers, every penny of the difference determines the consumer shopping in Wal-Mart but not to other shops. Wal-Mart will "everyday low" sales philosophy through the shop introduced to Europe, Asia, Latin America, has been widely accepted. ...read more.

Middle

Secondly, Wal-Mart should do more planning on the management of change. There are some problems such as people, structure, or technology in the organization. Then, managers should plan any alterations in them. Depending on the strategies, it requires the use of different structures because a differentiation strategy needs an organic structure for better control. However, after the managers develop the plans, they should do more works on coordinating the activities. Wal-Mart manager can hold some meetings to discuss the advantages and disadvantages of these plans. The workers should be done carefully because they are the last step to act the plans. With these jobs dome, the managers of War-Mart managers can bring into effect. These management actions with good planning could be strategically utilized or adopted by Wal-Mart so as to improve the operations of the company. 2.2 Human Resource Management Human Resource Management (HRM) includes all the activities managers engage in to attract and retain employees and to ensure that they perform at a high level and contribute to the accomplishment of organizational goals (Towers, David, 2007). Wal-Mart has achieved sustainable competitive advantages and one of the reasons is the success to navigate skillfully between poles that most companies think of as distinct (Matthias H. J, al, 2007). In order to operate the company more effectively and efficiently, Wal-Mart should do more works on their changes of human resource management. Firstly, the managers of Wal-Mart should ensure that Wal-Mart has the right number and kinds of people in the right places and at the right time. And the employees are capable of effectively and efficiently performing their assigned tasks. Secondly, the managers of Wal-Mart should enhance the recruitment and selection standard. They must prevent from many poor quality people enter into Wal-Mart work. Wal-Mart should change some strategies in recruiting and selecting employees. And early select the people who have working experience and professional skills. ...read more.

Conclusion

Kyle Lundby, Allen I. Kraut 2008, Going Global: Practical Applications and Recommendations for HR and OD Professionals in the Global Workplace. 1st edn. America: Jossey-Bass. 15. John Yunker, 2002, beyond borders: web globalization strategies, 2nd edn. The US: New Riders Publishing. 16. Nauman M. (2008) Green teams: Silicon Valley employees use peer pressure, creative ideas to help the environment [Internet] Available from :< http://www.mercurynews.com/ci_10681845?IADID=Search-www.mercury> [Accessed: March, 2010] INTI INTERNATIONAL UNIVERSITY B.A. (HONS) IN ACCOUNTING & FINANCE MGT 346: MANAGEMENT & MARKETING : JANUARY 2011 SESSION Name : ..................................................... ID No ................................. Name : ..................................................... ID No ................................. Name : ..................................................... ID No ................................. Name : ..................................................... ID No ................................. No. Evaluation of Written Work Q 1 Q 2 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 Critique of Major Points : Demonstrates understanding of the case study, and ability to address the strategic issues of the given case study. 2 Depth of Discussion : Discussion depth of topic area in terms of strategic concepts and theories learnt and arguments raised 3 Evidence of Wide Range of Readings Shows evidence of having read widely by using arguments and facts from other sources other than the case study itself and text books currently in use. 4 Evidence of Application : Ability to identify and use concepts and theories studied to rationalize his/her opinions and use of these to the best of application according to the situation. 5 Originality and creativity 1 3 5 7 9 11 13 15 1 3 5 7 9 11 13 15 6 Completeness : Relevancy, accuracy and correctness of materials used to support arguments 7 Application of the Knowledge Learned : Contextualize learning and ability to integrate material from other sources 8 Conclusion : Recommendations and conclusion. 1 2 3 4 5 1 2 3 4 5 9 Overall Presentation : Grammar, structure, spelling, referencing and appendices. Total /100 /100 % over actual weightage (10%) ?? ?? ?? ?? MGT 346 MANAGEMENT AND MARKETING GROUP ASSIGNMENT 2 1 / 3 ...read more.

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