WAL-MART'S MARKETING

Wal-Mart's Marketing

Wal-Mart's Marketing

Introduction

In a world which, having a structure of monopolistic competition market, Wal-Mart Stores, Inc. seems to have an oligopolistic market structure. But because retailers are far too many to deal with, they also have a structure of monopolistic competition market. Nevertheless, Wal-Mart would rather this way because it did not hurt at all by the competition. When Wal-Mart Stores, Inc. opened their first discount store in 1962, Sam Walton had no idea his business would take off as it has today. The reasons for the success of Wal-Mart has been their ability to create a basic structure for their own business ecosystem. Wal-Mart came to the conclusion that if they offered a variety of brands and has sold about 15% cheaper than other retailers, this would make them a powerful force in retailing. In less than three decades of existence, Wal-Mart has grown from a small single discount store in Rogers, Arkansas, the largest retailer in the country. This title was previously held by Sears Roebuck and Co., but in early 1990 has been surpassed by Wal-Mart and Kmart. Sears took over second place after the nations leading retailers, but it seems Wal-Mart can never be taken. (Basker, 2007 25)) At the end of 1996, Wal-Mart Supercenters had a 62% of total turnover Supercenter. Sales for 1996 totaled 17.78 billion dollars, an increase of $ 11,510,000,000 for the year value. These figures and the numbers Wal-Mart still others continue to grow year after year, and at this rate, it can be difficult to maintain a structure of monopolistic competition market. They may have no choice but to consider an oligopoly (Wal-Mart and its market structure). Drinking water is a good example of a product that has inelastic characteristics in that - people will pay anything for it. On the other hand, the demand for sugar is very elastic because the price of sugar increases there are many substitutions that consumers can go to (Basker, 2009 74). Technology Technological change (TC) is a term used to describe the process of invention, innovation and diffusion of technologies or processes (dictionary.com, 2009). The term is redundant with technological development, technological achievement, and technological advances. Transport Canada is essentially the invention of a technology (or process), the ongoing process of improving the technology (which is often less expensive) and its dissemination throughout the industry or company. In its early days, technology changes illustrated TC with the "linear model of innovation, which has since been largely eliminated and replaced by a model of technological change that requires innovation at all stages of research, development, dissemination and use (Basker, 2009 85). The price and technology will change the demand and at a rapid pace. An important factor contributing to both price and technology changes is the competition. As changes in competition, the company must adapt and adjust prices and advance their technology as quickly and hopefully faster than the competitor. If a company were to fall too far behind the progress ...