To enhance this, the company ensures that it highly motivates its employees through better pays and incentives. The company also ensures that they promote good relations between the employees and other top officials to increase the level of motivation. Good relations also enhance better upward communication ensuring that the employees give ideas on the decision making of the company. This acts to the advantage of the company considering that the employees relate more with the customers. Thus, better upward communication enables them to communicate the customers’ needs and concerns to the top officials to ensure that strategies are set up to meet this needs and concerns.Walmart also conducts various promotions to create awareness to their customers on different methods and approaches. They conducts advertising, marketing, personal selling, sales promotions and public relations to ensure that their targeted audience knows about the existence of their products or services. The company has in store activities of promotion including various pricing strategies. Its online store earns revenues through the customers placing their online gifts. Their pricing strategies including everyday low prices increase the company’s sales turnover. The online stores also use creative strategies to ensure that they attract customers to make purchase decisions before the deals given expire.The organization is also able to respond well to competition. One of their main competitors is Amazon especially in their online business. The organization compares their strategies in response to their competitors. For instance, if amazon.com reduces their prices, then walmart may consider offering discounts to their customers (K@W, 2013). The company’s main initiative is to attract and retain more customers than its competitors. This is important in ensuring that the company gains more profit thus achieving its goals and objectives. Walmart comes up with competitive strategies to deal with competition. First of all, they offer considerable prices to their customers. This is considering that the company does not include the manufacture of products. It only procures their products in bulk to enjoy the economies of scale that result in the long run. Thus, they are able to offer 15% lower prices than their competitors. The company also offers various concepts of pricing to gain their customers’ focus and encourage a
Fishman, C. (2006). The Wal-Mart Effect. New York: Routledge.
K@W. (2013, June 24). Walmart Vs. Amazon in Online Groceries: Who has the edge? Retrieved from https://knowledge.wharto n.upenn.edu/article/walmart-vs-amazon-in-online- groceries-who-has-the-edge/
Mason, C. (2014, March 02). More People buying from home. Retrieved from file:///Volumes/Share/Business/Bk%20-%20Marketing%20and%20Adve...enty%20- %20Bay%20of%20Plenty%20Times%20News.webarchive
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