5 Reading Summary

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Walmart
Walmart is an American multinational retail enterprise and ranks as the second largest employer across the globe. It has three different retail store formats. They include; discount stores holding inventories of overall merchandise and groceries. Secondly, there are supercenters which are a fully serviced supermarket having food outlets, gasoline distributions. Lastly, it has a neighbourhood market which sells groceries (Jindal, Pranav, et al. 16). It was created to fill that gap that exists between the supercenters and discount stores. When it comes to segmentation strategy, Walmart uses both psychographic and demographic segmentation strategies. The two strategies help the organization to understand the needs of consumers on a daily basis. As an example, Walmart has introduced the strategy of the everyday low prices. This has led to an attraction of more consumers. Walmart is a retail corporation that uses broad product assortment and stock keeping units which helps the organization in retaining customers (Jindal, Pranav, et al. 23). This strategy has also helped the organization to the large stock amount of goods which has assisted in increased profits due to the low pricing strategy for the quality products being stored in their three types of retail stores. When it comes to its operations, Walmart manages a massive retail chain. In this way, Walmart has given a special commitment to its manner of operation to ensure that consumers get their products.

Therefore, the success of its retail supply chain has been based on operations management.
In regards to market position, Walmart has positioned itself to be the retail corporation offering prices at a lower price (Jindal, Pranav, et al. 39). This strategy has been able to strengthen its brand image. This means that its brand popularity has been associated with low pricing targeting the middle and low-income earners. Furthermore, the vision of the retail corporation translates to the services that it offers. The vision of Walmart is: to give the customer and associations an opportunity to see what it’s like to save and have a better life.
Work cited
Jindal, Pranav, et al. “Point-of-Sale Marketing Mix and Brand Performance-The Moderating Role of Retail Format and Brand Type.” (2018).