Mis of Wal-Mart

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INTRODUCTION Wal-Mart Stores, Inc. branded as Wal-Mart, is an American multinational retailer corporation that runs chains of large discount department stores and warehouse stores. Wal-Mart is a retail giant. This company is the third largest public corporation in the world. Website link to the selected company, www.wallmart.com Background: Sam Walton, a businessman from Arkansas, began his retail career when he started work on June 3, 1940, at a J. C. Penney store in Des Moines, Iowa where he remained for 18 months. In 1945, he met Butler Brothers, a regional retailer that owned a chain of variety stores called Ben Franklin and that offered him one in Newport, Arkansas [1]. Walton was extremely successful in running the…show more content…
Customer base: Each week, about 100 million customers, nearly one-third of the U.S. population, visit Wal-Mart’s U.S. stores (200 million according to Wal-Mart’s website) [14]. Wal-Mart customers give low prices as the most important reason for shopping there, reflecting the "Low prices, always" advertising slogan that Wal-Mart used from 1962 until 2006 [15]. The average US Wal-Mart customer's income is below the national average, and analysts recently estimated that more than one-fifth of them lack a bank account, twice the national rate [16]. In 2006, Wal-Mart took steps to expand its US customer base, announcing a modification in its US stores from a "one-size-fits-all" merchandising strategy to one designed to "reflect each of six demographic groups – African-Americans, the affluent, empty-nesters, Hispanics, suburbanites and rural resident [16]. Around six months later, it unveiled a new slogan: "Saving people money so they can live better lives". This reflects the three main groups into which Wal-Mart categorizes its 200 million customers: "brand aspirationals" (people with low incomes who are obsessed with names like KitchenAid), "price-sensitive affluents" (wealthier shoppers who love deals), and "value-price shoppers" (people who like low prices and cannot afford much more [15]. COMPANY’S ORGANIZATION AND MANAGEMENT OF

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