Globalization of companies championed by technological development calls for efficiency in management of companies internal structures. According to Hill, it is important that companies get to link operations and marketing departments effectively. It is proven that whereas the operations department in an organization understands much about the product, the marketing department on the other hand is much informed on the market situation. Positive relationship between these two departments is therefore a requirement in the modern market place. When these functions are effectively aligned, the companies’ product will be able to meet the consumers’ expectations. This research paper gives a summary of Wal-Mart Stores’ operation manager’s analysis of the company’s market situation as he prepares for a meeting with the marketing department.
Retail trade industry
According to the North American Industry Classification System NAICS 2007, supermarkets and other grocery stores fall in the retail trade industry. Going by the products that our company, Wal-Mart Stores offers to the customers we are indeed in the retail trade. It is important for us as retailers to understand that we are not in the market alone. This is one industry that attracts very high competition. We all received the news of being ranked top by Fortune 500. We should not sit back and relax, our competitors are very much awake, and are waiting for us to make a very small mistake and they take the market away from us. To keep pace with the market competition, our knowledge of the products we offer still remains crucial in keeping us close to our customers.
Wal-Mart Stores’ Mission Statement
The mission statement of our company remains solid and quite unaltered; “To save people money and help them live better”. Indeed our mission has played a key role in identifying our company’s products with our customer. Our decision to seek measures through which we can offer quality products to customers while at the same time always keeping the prices relatively low has been significant towards winning us customers. The fact that we offer products that are not demographically selective is instrumental in ensuring that we always achieve our mission.
Whereas our competitors target the affluent class of the society, Wal-Mart will always endeavor to serve the whole society without discrimination. To better our services to the less endowed members of the society, we need to consider other means through which these customers can best appreciate the value of their hard earned money. As Wal-Mart, we understand the dreadful state of financial services for low income consumers. Consumers seeking bank loans payable on the pay day receive these bank loans at a very high interest. From our knowledge of these consumers’ budget, largely on basic foodstuffs, we will help them save a lot of money spent in payment of these exorbitant interest rates by establish a scheme that will enable them buy goods from the store on credit instead. This will be in line with our mission and will strengthen our market position.
Wal-Mart Company is ranked among the best performing global companies. As a researcher, it is easy to important information that you need from its website and other internet sources. The company management is not complicated and it becomes easy to write about it. As a researcher, a complicated company structure can be hard to analyze and write about.