General Information about Walmart
Sam Walton was an up-rising business owner before he unlocked the doors for the beginning of Walmart© in 1962. He and his wife operated the Ben Franklin©. discount dime chain stores, Sam Walton’s had a vision for the outlook of his new store, which is similar to the mission statement for Walmart© today To have “Lowest prices anytime, anywhere walmart.com©
According to my research on Walmart.com©, Sam Walton was prosperous in the first five-year duration with a revenue of $12.7 million. Then, “in 1970, the company became publicly traded
Before Sam Walton passed away in 1992 he received The Presidential Medal of Freedom from the President and with these words he designed a goal for the company
“If we work together, we’ll lower the cost of living for everyone. We’ll give an opportunity to see what it’s like to save and have a better life. Walmart.com©
Walmart’s’© goal providing the lowest prices is hurting the image and innovation Sam Walton built. What it costs for wages and production are cheap in third world countries. This causes a problem for the American economy due to, a large amount of jobs is sent overseas. This is one of the reasons for unemployment in America.
Walmart© is a hierarchy organization, this is because people in the organization are at a position from a subordinate to senior levels which enforces rules. The company offers programs to help their associates with their career within Walmart© Although, the company can also afford to pay every employee $12 an hour and still maintain a profit. I have interviewed 3 employees at my local Walmart©, According to their website it states there is open door policy for employee and managers to communicate any work-related problems and the issue would be resolved at best that same day. The employees I interviewed found that to be hypocritical.
Sonya, an associate in Bakery and Deli, has been employed with Lakewood, Colorado Walmart© for five years she stated:
“The store very often has had a turnover in management and whenever we get a decent manager they get transferred or quit.
I reviewed questions and answers online from employees about the workplace environment on website Indeed.com©. The posts regarding the workplace environment at Walmart© was it was a fast-paced environment. The employees made complaints that they were expected to do more than the job creiteria. There were some positive reviews, but a lot employees were more concerned of the fact they were working part time hours but felt they were working as if it were full-time without benefits.
Over one third are part-time and do not qualify for health benefits. The full-time employees cannot afford the health plan benefits Walmart© offers since the cost is thirty-five percent of their salary. This causes the employees to rely on government assistance in some cases.
Walmart© remains in competition with other stores, therefore the company must maintain a strategy in the marketing environment.
Product- Walmart offers customers one-stop shopping convenience with assistance from sales associates. This directly influences how the customer feels as they shop.
Price- The pricing strategy falls on the lowest prices offered every day, this will generate business and contribute to Walmart competitiveness
Promotion- Walmart’s promotional mix is composed of public relations, promotions and sales such as the Rollback displays throughout the store and the price match, where the shopper shows a lower price Walmart will match the price. This will help the company attract customers into the stores.
Place- Walmart continues to open new stores to reach more customers to give people convenient shopping with lower prices.