Walmart fashion valley, one of America’s multinational merchant corporations, ranked as the third world largest corporation through Fortune Global 500, along with 2 million employees globally.
Walmart fashion valley was founded in 1962 through Sam Walton.
Walmart fashion valley had not been Sam Walton’s first encounter with the details that followed retail marketing. Sam Walton began his journey in the J. C. Penney Shop, then later met the Retainer Brothers who at that time possessed a chain of stores known as Ben Franklin.
Sam Walton obtained a franchise as well as opened a new Ben Franklin which he called Walton’s Five and Dime.
Walton’s Five and Dime was obviously a big success for Mike Walton as a result of the technique he used; he achieved high sales volume by marking up slightly under his competitors.
The key in order to success had been found as well as Sam Walton decided to carry it to the next level.
And on July two, 1962, the first Walmart had been opened and the same concepts and strategies used formerly were put to play once again and this time it a new snowball effect of greater achievement.
In 1967, Walmart experienced expanded to 24 shops around the US and had arrived at $12. 6million in product sales.
In 1970, Walmart had 37 stores operating in the US along with 1, 500 employees as well as sales of $44. two million.
In 1972, Walmart fashion valley had been traded on the New York Stock Exchange.
Within 1975, Walmart had a hundred twenty-five stores operating within the ALL OF US and 7, 500 workers, and $340. 3million within sales.
In 1980, Walmart had increased exponentially along with 1, 198 stores documenting $15. 9 billion within sales and 200, 000 employees and went additional to launch its $24 million satellite network in order to link all its shops together.
The simple strategy this put in place catapulted it in order to a greater height and by 95 Walmart opened stores abroad.
Walmart had grown therefore big that the business world needed to take notice and in 2002, it had been listed for the 1st time as Many largest corporations with an income of $219. 8 billion dollars and a profit of $6. 7billion.
Walmart earned actual respect even in groceries, since the largest grocery retailer in America, generating 51% of the $258 billion in grocery product sales in the US in 2009.
Walmart fashion valley is really a perfect example of how effective a simple marketing strategy is here is proof; it works 8, 500 stores within 15 countries under fifty-five names a few of which are:
· Walmart in the US
· Walmex in Mexico
· Asda in the UK
· Seiyu in Japan
· Greatest Price in India
It’s sad to say that in spite of how perfect a marketing technique could be there are always aspects beyond your control that may impact its effectiveness and in most cases affect your business.
Here’s a good example with Walmart fashion valley:
In the nineties, Walmart fashion valley made a daring move to venture into Indonesia and use the same technique that had worked in America. Walmart purchased Wertkauf’s twenty-one stores for €375million as well as Interspar’s 74 stores with regard to €750million.
But every tried foothold in the German marketplace failed, for the following factors:
The German market had been highly competitive with choices using the “low price” technique Walmart uses, giving them absolutely no competitive advantage.
Walmart obtained a bad public reputation due to its corporate culture as well as a statement of ethics that prohibited relationship between workers.
After suffering several produce, Walmart bowed out of the German-born market after recording approximately €3 billion loss, as well as sold its stores in order to Metro; a German organization.
This story leaves me personally with one question; Can there be such a thing as an Ideal Market Strategy?
I question it.
In marketing, there is such thing as a typical approach… its naïve to consider it ever exists. The illusion created within boardrooms over coffee however reality is always reality.
Right after thinking up your strategy, are thinking about one thing; the flaw.
The not because you didn’t do your research well, its just conditions you have little or no control more than.
You win some, that is lost some.
You might have lost the actual battle, but just be sure you don’t need to lose the WAR.