Walmart Company

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Walmart Company

Category: Essay

Subcategory: Management

Level: College

Pages: 1

Words: 275

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Walmart Company
Sam Walton, the founder of Walmart, opened the company’s first store in Rodgers, Arkansas the year 1962 (Wal-Mart 3). Mr. Sam saw his company grow rapidly and in 1970 it became a publicly traded company (Wal-Mart 4). Even after Sam’s death in 1992, the company went on to expand its services and is now a global entity with over eleven thousand stores opened worldwide. Electronics, furniture, clothing, and groceries are among the goods retailed by the company’s stores. Walmart’s, Headquarters are in Bentonville, Arkansas. Doug McMillon is the current President and CEO of the company, while Greg Penner is the holder of the Chairman’s seat (Wal-Mart 31).
Currently, Walmart faces competition from companies like Soriana, Real Canadian Superstore, and Kmart, all based in North America. In the 2017 Forbes’ rankings of the world’s largest public companies, Walmart took the 17th position (Spicer et al. 118). However, it was ranked 1st among other global retailers. CVS and Amazon took the third and fourth positions respectively. The company uses what is called the differentiation strategy (Spicer et al. 116), this makes it different from its competitors. Differentiation strategy is a tactic that makes customers believe that they are receiving a product or service different from what other companies are offering. ‘ Save Money, Live Better,’ is the slogan that has seen Walmart attract many customers because of the low-cost produc…

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