Today, almost 45 years since its foundation, Wal-Mart has gained very strong influence in the market place and secured for itself leading position in retail industry. The company is not only the largest discount department store chain in US but in the rest of the world as well. Wal-Mart is in the list of the world's wealthiest and most powerful corporations, making it an important player in American and other economies of different countries.
The growth of the company has exceeded all expectations, and it has been greater than even founder Sam Walton could think of. Since its foundation and all throughout the years of development, Wal-Mart has been following low-cost competitive strategy which has proved to be very successful. It is not only management decisions and the strategy itself that made Wal-Mart so successful, but also the way those decisions and the strategy were implemented. Appealing to almost every aspect of customers' needs and wants, Wal-Mart is much more than just one-stop discount shopping.
In order to target and successfully serve different customer groups, the business is divided into four retail divisions: Wal-Mart Stores, Super Centers, Sam Club Warehouses and Neighbourhood Markets.
Having become as synonymous of daily American life, Wal-Mart is now moving forwards establishing itself in international markets. For millions of low income American shoppers, Wal-Mart is the greatest things that have ever happened to them, making it possible to afford things they otherwise could not. Wal-Mart's ultimate strategy is building foundation for further growth in international markets and eventually become dominant. In many countries around the world and even in some states in US, retail market is far from saturated, giving plenty of room for expansion.
Invasion of new markets has to start with analysis of the present situation of the company. And I, as...