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OK Cancel. Add to portfolio. This is our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months. Industries and Professions. See Answer. Best Answer. Study guides. Q: What type of industry is Walmart in? Write your answer Related questions. What is walmart's industry market structure? Is Walmart a monopoly? What type of industry does Brazil have? What is the main type of industry in Barcelona?
Which type of industry is the Indian government attempting to reform? What type of industry is Google in? Child-labor laws did not apply to what industry which employed about 1 million children? What type of industry is selling comic books in? What type of industry was nationalized after the Mexican Revolution? They relied on publicity to run the company, manufactures allowed the buyers to buy the products at low prices, this is the reason large retailers frequently placed their orders and the company become successful throughout analyzing competitive marketing strategy.
You can also buy essay on EssayWritingService for easiness. Global retail strategies are the approaches to built the sustainable competitive advantage, attracting the customers through prices and products is essential, to maintain and manage the customer loyalty, human resource management, distribution and information system, customer services, relationship with vendors, unique merchandising and location, are the aspects of the sources of competitive advantages Stolt, The retailing concept, is the management process, in which retailer have to focus on the needs of the target market, if the retailers identify and satisfy the need effectively than its competitors then it will be successful; successful retailers satisfy the target segment better than the competitors does.
Similarly, a retail market is a group of people, who have the identical needs; the retailers have to focus on the consumer from different segment, example, to notice their lifestyles, demographics, buying behaviors, geographic location etc, is important. Trends and competitions can affect the retail industry, the retail have to stay focused on, emerging trends in the people, emerging technology and to figure out the customer wants.
Small retailers can use social media to know about the emerging trend, latest styles of clothing, accessories, foot wares and food-items, should be appealing to the consumers, if industry want to make loyal customers. Competitors are important; if company wants to determine direct competitors then it has to look at the bigger picture, for example, for a regional discount store, it is difficult to compete with the Wal-Mart stores opening every month. There should be focus on the prices, services or quality, the competitors are offering.
Overall performances should be evaluated example, personal growth, the retail profits, growth in domestic product GDP , performance of economy, inflation etc. These macro factors can affect retail industry. Inventory evaluation like its turnover rate should be compared directly to the competitors Rafiq, Porters five forces analysis , could also be helpful to focus on the overall trends, from threat of new entrants, one can notice the majority of emerging retail stores, can establish the favorable supply contracts which can give chain store, a competitive advantages.
Power of suppliers and buyers, are also identified, example, in retail industry suppliers and buyers have very little power. Availability of substitutes, capable one to deal in a wide range, of products and services, for the absolute advantages, there should be uniqueness in the products. Through competitive rivalry, retailers have to face high competition in the market, because rivals can take advantages at one point, by offering special services or discounts to the customers.
The retail industry can assess its market feasibility for economic uses and development, market potential targets, design, project and site planning, development of finance institutions and improvement in existing business, through knowing the needs of the target market and analysis of the macro factors.
Qualitative and quantitative methods could also be followed to know about the, demand side analysis and supply side analysis.
The special conditions and opportunities of the market could also be known by analyzing the demand and supply. Demand side is based on the population rate, income, demographic groups etc. Supply side analysis is based on the, location, quality, market area, national and regional trends, comparable stores etc.
Retailers have the great competitive advantages, they can engage in the market penetration opportunities if they want to be successful, expansion opportunities, can build the retailers reputation in the market, if they are experienced and skillful, they can attract the loyal customers.
Retailers must peruse diversification opportunities to exploit the competitive advantage Jia, The unique capabilities that provide sustainable competitive advantages could be, Management Capability, retailers should understand the depth of management, management commitments to firm and top management should have experience and capabilities. The long history of Walmart Inc. The organizational structure interacts with the organizational culture to maintain the significant competitive advantage of Walmart against other firms, such as Amazon and Target, as well as Apple , Google , and other technology companies that have major online digital content distribution operations.
Formerly named Wal-Mart Stores Inc. Walmart has a hierarchical functional organizational structure. This structure has two features: hierarchy and function-based definition.
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