沃尔玛战略分析englis.docx
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沃尔玛战略分析englis
StrategyAnalysisofWal-Mart
Wal-martisthegiantoftheretailworld,itsmainmarketorientationstrategyis“everydaylowprice”,withwhichcausedWal-martwinthecivilianconsumer’sfavor,obtainedremarkableachievement,andsetuptheenterprise’simage“thehighqualitywithreasonableprice”inpeople’smind.Itdevelopedfromasmallstoretothetopof500leadingenterprisesintheworldfrom《TheFortune》,anditscommercialmythspreadaroundalloftheworldjustovernight.Asthefollows,IwillshowyouthestrategyofWal-martanddosomeanalyzing.
.AbriefintroductionofWal-mart
Wal-martwasfoundedbySamWaltoninArkansasin1962,whichisthelegendinAmericanretailfield.Afterfortyyearsofdevelopment,Wal-marthasbecomethelargestprivateemployerinAmericaandthelargestretailchainenterpriseintheworld.Atpresent,Wal-marthasmorethan6,600storesintheglobalmarketandmorethan18millionemploystotallywhichdistributedin14countriesworldwide.Thereareabout1.75millioncustomersshoppinghereeveryweek,makingWal-martbecomethenumberoneof500topenterprisesintheworld.
In1991,Wal-mart’sannualsalesbreakthrough$40billion,makingitbecomeoneoftheworld’slargestretailenterprises.AccordingtotheclassificationlistofthenationwideservicesectorfromAmericanmagazine《TheFortune》inMay1994,Wal-mart’ssaleshit673.4billionin1993,increasingover11.8billionthanthepreviousyear,morethanSesaswhichisthenumberonein1992,andtoppedthegrattanofnationwideretail.In1995,Wal-mart’ssaleskeptincreasingandcreatedaworldrecordinretail,realizing936billionusdollarsinannualsales,whichatthefourthplaceamongAmericanlargestenterpriseslistinmagazine《TheFortune》.Asamatteroffact,Wal-mart’sannualsalesequalstothesummeryofalldepartmentstores’salesacrosstheUnitedStates,anditstillmaintainedastrongmomentumofdevelopment.Wal-marthas2133Wal-martstores,469members-onlywarehouseclubsand248Wal-martshoppingplazassofar,anditacrossAmerica,Mexico,Canada,PuertoRico,Brazil,Argentina,SouthAfrica,China,Indonesiaetcplaces.Wehavetosayitwritesamiracleinretailwithrapiddevelopmentjustinafewdecades.
.Thecompanystrategyenvironmentanalysis
2.1Theexternalenvironmentanalysis
2.1.1Thegeneralenvironment
2.1.1.1Demographicsegment
Althougheachcountryadopteddifferentpopulationcontrolpolicyaccordingtotheirnationalconditions,however,theglobalpopulationisstillinrisingstatusfrommacroscopicenvironmentview,especiallyfordevelopingcountries,theirtotalpopulationislargeandtherateofthepopulationgrowthisfasterthandevelopedcountries;Andwiththeprocessofurbanization,urbanresidentpopulationisappearingconcentrationtrend.Growingpopulationandcentralizationofthepopulationlivingenvironmentprovidehugeopportunityforretail.
2.1.1.2Economicsegment
Theworldpeacefuldevelopingenvironmentandtheproactivefiscalpolicymaketheworldeconomydevelopssteadilyinquicklyandwellstate,percapitapurchasingabilitystrengthens,sopeople’srequirementoflifelevelbecomehigherandhigher,thesameaspeople’sconsumptionlevel.Therefore,drivingtostormstogoshoppinghasbecomeusuallandscapesonWal-martave.
2.1.1.3Socioculturalsegment
Wal-martemphasizestheprincipleofgoodfaithandmoralvalues:
"Iforone,oneforall".Wal-martlocatedcustomersas“thecompany’sbiggestboss”,andtheyputupmanyprinciplesstoodinthecustomerview,forexample,everydaylowprice﹑smilefromthreemetersdistance,200%satisfactionetc.Threemeterssmileprinciplerequiresemployeestosmiletocustomersfromlessthanthreemeters,besides,Wal-martrequiresemployeestoanswercustomerquestionsseriously,andneversay“Idon'tknow”,Wal-marthasanunwrittenruleinternal,thatistheonlystatethatallowsthereasonoflateis“customerservice”.200%satisfactionprinciplemanifestedinthefresh-eatingdepartment,Wal-martassurancestocanceltheordersandgiveyouafreegiftifthehomemadefoodmeetsanyqualityproblem.QualitysocialculturalenvironmentwithhighqualityretainalotofloyalcustomersforWal-mart.
2.1.1.4Technologicalsegment
Thedevelopmentofscienceandtechnology,especiallythedevelopmentofInternettechnologyacceleratedthedevelopmentofretailprocess,advancedscienceandtechnologyallowsremotecommunication﹑logisticsapplications﹑informationcollectionanddataprocessingbecomepossible,andenhanceworkefficiency.Forexample,Wal-martisthefirstonetorealizeitscomputerlogisticsnetworkmonitoring24hoursinternalintheworld,makingpurchaseinventory﹑orderthegoods﹑distributionandsalesintegration,reducingalotofunnecessarywastetime,speedingupthelogisticscycle.
2.1.1.5Globalsegment
Globaleconomyintegrationacceleratedthepaceoftransnationaltradedevelopment,promotedtheeconomicdevelopmentoftheworld.Wal-marthasstoresandshoppingplazasinmanycountriesaroundtheworld,Wal-martdevelopswelleveninaforeigncountrybecauseofitssuccessfullocalizationimage.
2.1.2Theindustryenvironment
2.1.2.1Threatofsubstituteproducts
Substituteproductsarethosehavesamefunctionwithspecificmarketproducts.Thepriceoftheproductsisgenerallylow,butwhileitputintothemarket,thepriceofthespecificmarketproductswillceilingonlyatarelativelylowlevel,whichlimitsthespecificmarketbenefits.ForWal-martretailisconcerned,itsmainlyalternativeproductsfacedareasfollows:
Thevigorousdevelopmentofcateringindustry.
Withtherapiddevelopmentofsocialeconomy﹑theenhancementofpurchasingabilityandliferhythmspeedingup,moreandmorewhite-collarspendtheirsparetimeincateringindustry,boomingdevelopmentofcateringindustryprovidesthequalityservicesandgoodtastedfood,suchasyonghesoya-beanmilk,anddaniangdumplings,odiecoffee,qiaojiangnancateringetc,whichhaveagreatimpactonretailespeciallyforsupermarketsanddepartmentstores,sotoWal-martalthoughittakeeverydaylowpricestrategy.
Therapiddevelopmentofnetwork.
Onlineconsumptionhasbecomeverycommonphenomenaduetotherapiddevelopmentofnetworktechnology.Especiallyforyoungpeopleandwomen,theyaremorewillingtospendtheirtimeonsufferingtheinternet,theycanchooseandbuygoodswithlowerpricesjustwithalaptopcomputerandneverleavehome.Onthenetwork,aportionofthegoodsundercustomsdutiesavoidtaxationandlaunchedsecondskillactivitiessopeopledonotneedtopatlongqueuesintheentityshop,door-to-doordeliveryconvenienttheaudiencecustomers.
Thehotelindustry.
Atpresentmanyhotelssellothercommoditiesinadditiontoprovidingfoodandlodgingservices,suchasplacingbeverage,snacks,underwear,socksforsaleinternal,besides,becauseofthegeographiclocation﹑beautifulenvironmentandabundantcapital,thehotelsarereceivingmoreandmoreconsumers.
2.1.2.2Bargainingpowerofsuppliers
Wal-mart’spurchaselinkadoptsdirectlytothefactory﹑unifiedpurchase﹑assistsupplierstoreducecostsandotherwaystoreducethepurchasecosts,comparedtoothercompanies,Wal-martdoagoodjobinthisrespect.
Adaptthewayofpurchasingdirectlytothefactory.
Manybusinessestakesconsignmentmodeofoperationtoavoidbusinessrisks,whileWal-martimplementsdirectpurchasepolicy,andtakeafixedtimeneverdelaytothebuyoutaccountssettlementpractices.Wal-mart’saveragecopewithperiodis29days,whileitscompetitorKmartneeds45days.AccordingtoWal-martownstatistics,Wal-martreducethepurchasecostof2%-6%withimplementingdirectpurchasepolicy.
Unifiedpurchasecost.
Wal-martadaptpurchasingfromthecentersystemandtrytounifiedpurchasebytheheadquartersofhecentral,particularlythoseofhighvisibilitycommoditiesintheworldwidesales,suchasCoca-Cola,Eastmankodakfilmetc.Generallyspeaking,Wal-martsigningthewholeyearsalescontractwithsuppliersatonetime,itobtainedthepreferentialpricefarhigherthantheirpeersbecauseofitshugepopulation.
Thewayofassistingsuppliersreduceproductcost.
Wal-martthroughhelpingsuppliersimproveprocess﹑improvequality﹑reducelaborcosts﹑sharetheinformationsystemetc,andimprovetheyieldwithassistingsuppliersrealizethelowestcost.
2.1.2.3Bargainingpowerofbuyers
Themajorityofconsumersaresensitivetoprices,andwhenweenteredWal-mart,thefirstsightseeingfilledintooureyesmustbetheslogan"everydaylowprices",thissentenceevenprintedonshoppingbagsofWal-mart,theimplementoftheprinciplemakeWal-martlightningfromnumerousretailenterprisesfromthecrowd.
2.1.2.4Threatofnewentrants
Largesupermarketchainindustrycarrieshighbarrierstoentry.Forlargesupermarketchainbusinesses,ifhewantstosucceedinanewmarket,thenumberofscale,namelystorefrontisanecessarycondition.Forlarge-scalerigidityrequirement,alsoinevitablerequiresabundantcapitalamount.Therefore,largesupermarketchainindustrybarrierstoentryishigh,andnowalmostallofthelargeretailcompaniesarealreadycarriedouthisbusinessinmainlandChina,andthereisalmostnonewentrants.Sowecanseethatthepotentialindustryentrantscan’tthreatWal-mart.
2.1.2.5Rivalryamongcompetingfirms
Competitionindomesticmarket.
ThecurrentdomesticfamousbrandhaveShanghailianhua,hualian,thebailan,suguo,thetimes,etc.,theyallwanttogettheleadershipinChineseretailing,nowthecompetitionisfierce.
Thecompetitionoftheinternationalmarket.
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