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Topic 5

Topic 5. Wal-Mart The World ’ s Largest Retailer. Listening to and Taking Care of Customers. Wal-Mart knows its customers and takes good care of them.

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Topic 5

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  1. Topic 5 Wal-Mart The World’s Largest Retailer

  2. Listening to and Taking Care of Customers Wal-Mart knows its customers and takes good care of them. As one analyst puts it, 〝The company gospel truth)…is relatively simple: Be an agent for customers, find out what they want, and sell it to them for the lowest possible prices. 〞Thus, the company listens carefully.

  3. Listening to and Taking Care of Customers For example, each topic Wal-Mart executive spends at least two days a week visiting stores, talking directly with customers and getting a firsthand look at operations. Then, Wal-Mart delivers what customers want: a broad selection of carefully selected goods at unbeatable prices. Concludes Wal-Mart’s current president and chief executive, 〝We’re obsessed with delivering value to customers. 〞

  4. Listening to and Taking Care of Customers Another sign inside the store reads 〝At Wal-Mart, our goal is : You're always next in line!〞 Customers are often welcomed by 〝people greeters〞 eager to lend a helping hand or just to be friendly.

  5. Treating Employees as partners Wal-Mart believes that , in the final accounting, the company’s people are what really make it better. Thus, it works hard to show employees that it cares about them. Wal-Mart was first to call employees “associates”, a practice now widely copied by competitors.

  6. Treating Employees as partners The associates work as partners, become deeply involved in operations, and share rewards for good performance. The partnership concept is deeply rooted in the Wal-Mart corporate culture. Wal-Mart’s concern for its employees translates into high employee satisfaction, which in turn translates into greater customer satisfaction.

  7. Keeping a Tight Rein on Costs Wal-Mart has the lowest cost structure in the industry. Thus, Wal-Mart can charge lower prices but still reap higher profits, allowing it to offer better service. Wal-Mart’s lower prices and better services attract more shoppers, producing more sales, making the company more efficient , and enabling it to lower prices even more.

  8. Keeping a Tight Rein on Costs Wal-Mart keeps costs down through good old “tough buying.” Whereas the company is known for the warm way it treats customers, it is equally well known for the cold, calculated way it wrings low prices from suppliers.

  9. Conclusion Some observers wonder whether Wal-Mart can be so big and still retain its focus and positioning. They wonder if an ever-larger Wal-Mart can stay close to its customers and employees. The company’s managers are betting on it. No matter where it operates, Wal-Mart’s announced policy is to take care of customers “one store at a time. ”

  10. Conclusion Says one top executive: “We’ll be fine a long as we never lose our responsiveness to the consumer. ”

  11. Reference Kotler, P., Armstrong, G. (2003) , Marketing 6E : An introduction, Marketing at Work 12-2, “Wal-Mart: The World’s Largest Retailer”, Prentice Hall.

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