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Functions of Business

4Ps

Promotion.Walmart’s promotional mix is composed of advertisements, sales promotions, personal selling, and public relations.

Place (Distribution). Walmart uses the intensive distribution strategy or intensive distribution channel design for this marketing mix element.

Price.Walmart uses an Everyday Low Price (EDLP) pricing strategy as a factor in the company’s revenue model.

Flat-rate (fixed-rate) subscription pricing strategy

Market-oriented pricing strategy

Everyday Low Price (EDLP)

Product. Walmart’s primary product is its retail service, including retail service fulfilled through e-commerce.

product life cycle

Wal-Mart products have a four- stage life cycle

leadership styles

Transactional leadership is more focused on various transactions that the leader or manager makes with his or her subordinates.

functions of management

The four functions of management include planning, organizing, leading, and controlling. Wal-Mart uses the four functions of management as well as its own three basic beliefs: (1) strive for excellence, (2) respect for the individual, and (3) service to the customer

productivity

When Walmart raised salaries, sales and productivity went up.

production process

Behavioral analysis of customers and employees, such as in the stores, serves as basis for Walmart's process and capacity design of store processes and capacity, personnel and equipment.

factors of production

Theoretically, a firm's production for a particular good is brought by its combination of two types of inputs, capital and labor (although Walmart doesn't physically produce any products, it generates service that can be considered as a special class of product).

Entrepreneurship and business ethics

characteristics

near consumer

stores sustained growth

emphasized logistics

one-stop-shopping center format

Subtopic

Walmart and the Walmart Foundation Announce $500,000 Commitment to Assist Puerto Rico with Earthquake Relief and Recovery

company history

2011–present: Continued developments

2005–2010: Initiatives

Acquisitions and employee benefits

Branding and store design changes

Environmental initiatives

1990–2005: Retail rise to multinational status

1945–1969: Early history

new product development

3 projects in 2020

a retirement residence may go up adjacent to wilson fields

30-unit,two storey apartment building

craft development

personal finance

Walmart's new financing option for both online and in-store purchases. The nation's largest retailer is teaming up with financial technology company Affirm to offer a new financing option to shoppers.

Business Fundamentals

international business types

The company operates under the name Walmart in the United States and Canada, as Walmart de México y Centroamérica in Mexico and Central America, as Asda in the United Kingdom, as the Seiyu Group in Japan, and as Best Price in India. It has wholly owned operations in Argentina, Chile, Canada, and South Africa. Since August 2018, Walmart only holds a minority stake in Walmart Brasil, which was renamed Grupo Big in August 2019, with 20 percent of the company's shares, and private equity firm Advent International holding 80 percent ownership of the company.

trade agreement

Discount giant Walmart is publicly asking Congress to approve the USMCA. The agreement is designed to modernize the North American Free Trade Agreement (NAFTA), which was ratified in 1994 and eases the exchange of goods and services among the U.S., Mexico and Canada.

types of businesses

Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas.

Products: Electronics Movies and music Home and furniture Home improvement Clothing Footwear Jewelry Toys Health and beauty Pet supplies Sporting goods and fitness Auto Photo finishing Craft supplies Party supplies Grocery