Saturday, September 7, 2019

Research a Fortune 500 company Paper Example | Topics and Well Written Essays - 1250 words

A Fortune 500 company - Research Paper Example Introduction Wal-Mart is regarded as an American based multinational retail business corporation. It is one of the top companies which regained its position in the Fortune 500 list as per the 2012 report. The company emphasized providing quality products to the customers at a reasonable price which supported it to regain its position in the market (Duke, 2012). The management and the marketing strategies that adopted and used by Wal-Mart have a great impact on its increasing sales and the revenue earned. The foremost reasons for the success of Wal-Mart include its effective management, making deliberate efforts to attain its vision and growth among others which are in turn providing the business of the company an edge over others. Management and Marketing Strategies Wal-Mart developed a business model which focused on providing greater satisfaction to the customer with the deliverance of low price products to them. The management of the company followed upon developing its marketing mix strategy. In terms of analyzing management strategies of Wal-Mart, it can be viewed that the management of the company took steps to offer reasonable prices to the different product ranges that they deliver to the customers. The management segments the product type based on the buying capacity of the individuals. In relation to marketing strategies, the company emphasized promoting its broad assortment of products through using hoardings, leaflets and offering special discounts. In this regard, it can be affirmed that the management of the company desires to attract the customers by creating a positive brand name and recognition in the business markets where it operates. Relating to marketing strategy, the management team of the company developed a slogan as a way of promoting its varied products i.e. "Everyday Low Prices."Â   Continuous innovation and the use of technology for making the customers more satisfied are the other managerial approaches that used by Wal-Mart. It can be apparently observed that technology innovation at Wal-Mart typically involves process and service invention that helps in reducing operational costs and time at large. In this context, the management followed three policy goals i.e. respect for individuals, facility to customers and determination for excellence (Hayden et. al., 2002). Different Business Life Cycles that Endured By Wal-Mart The Prosperity Phase- This phase is regarded as the growth phase of any company which is marked by strong economy and market presence. In this similar concern, Wal-Mart maintained this particular phase by offering "high-quality," along with branded products at low prices and also by forming several stores in small towns. Wal-Mart uses the discount merchandising strategy in order to increase the demand and the sales of its products and hence accomplished superior competitive position over others. In relation to this particular phase, the company is growing rapidly due to diversification strateg y that it follows and expanding its outlets in small towns. Another reason for the company to flourish in this modern business market is focusing on delivering high customer services. Due to excessive demand of the products, the management of the company absorbed more employees during this phase (Hayden et. al., 2002). The Recession and Recovery Phase- This is the business phase which exhibits expansion by a significant level. This particular pha

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