The business that I chose was Walmart. Walmart has been a part of my life ever since I can remember as it was affordable to shop, and we were able to get a variety of goods.Walmart has become a staple in many neighborhoods and communities. We often think of this retailer for all our needs daily. Walmart's mission statement is "save people money so that they can live better" (Pereira, 2023). This means that Walmart is trying to help working-class families stretch their paychecks as far as possible while meeting the needs of its customer base. The vision of Walmart is "to be the destination for customers to save money, no matter how they want to shop" (Pereira, 2023). Walmart has committed to being the preferred destination of consumers by creating opportunities via employment and being a bridge between communities that may not have access to a retailer that carries all they need. Walmart has a distribution system that includes 190 distribution centers around the country. These serve as supply chains to keep inventory flowing and have even hired their own drivers and trailers to ensure continuity in the supply chain as well. Walmart has also set up six disaster relief centers spread strategically throughout the country to provide rapid response in the event of natural disasters (About, n.d.). All distributions are set up to support 100 or more stores in a 150- mile radius. By handling all logistics, Walmart has ensured that all stores can maintain inventory, that the supply chain remains unbroken, and that prices stay affordable for its customers. Walmart is a large-scale operation that operates both locally in the US and internationally as well. Walmart operates approximately 10,500 stores and clubs in 20 countries and eCommerce websites. They employ 2.1 million associates around the world and nearly 1.6 million in the U.S. alone. Walmart has made its target audience low to middle-class families, especially those in rural areas that want to shop for goods in a single convenient location. They have had a lot of success with this audience as well.
Walmart uses phrases like everyday low prices, save money, live better, and lowest price store to market to consumers. As well as advertising with commercials, social media, billboards, and online as well, this helps them to reach its target audience. Walmart also offers warranties on the items they sell and has expanded to provide a membership service that offers free shipping on orders as well. This allows its consumer's flexibility for groceries and other items to be delivered at a scheduled time for no additional cost to compete with companies like Amazon.
References About. (n.d.). Corporate - US. Retrieved July 17, 2023, from https://corporate.walmart.com/about Pereira, D. (2023, May 4). Walmart Mission and Vision Statement. Business Model Analyst. https://businessmodelanalyst.com/walmart-mission-and-vision-statement/#:~:text=The %20Walmart%20mission%20statement%20is,largest%20retailers%20in%20the%20world.
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