The power that Wal-Mart holds with CPG’s is crucial. Wal-Mart is able to dictate to these companies how they should price their goods. It is generally lower than the company would like. However, that company has no strong say in the matter because if they want to have the goods in Wal-Mart stores, they have to comply with Wal-Mart’s rules. So, by Gillette and P&G merging, they would have more negotiating power when dealing with superstores like Wal-Mart and Target.
They have a good variety of products to shop for. Wal-Mart has many competitors, but one of the strengths that the company has the ability to lower the prices for their customers need. Wal-Mart can be consider a unique store because of one special strategy that they have. The strategy consists of comparing the prices of the other stores, if the other store has an ad of a lower price than Wal-Mart, then they will give it to them to the same price. Many costumers is one of the plus that they give to Wal-Mart because this means that they don’t have to go store by store catching all the specials that they have.
From a standpoint of a shopper I would evaluate the store as a confusing mess that seemed like a sale every time one shops. Sales are advertised but employees don't necessarily push the sales. The management goals reflect the employees' goals to let the products sell themselves. This hurts the company knowing that consumers can shop products on a "take it or leave it" attitude. Most people are aware of the lack of customer service Best Buy does not provide.
While other competitors, such as Target, operate in the same market trying to attract consumers looking for low prices and conveniently giving customers the access to a one stop shopping store. Though the largest company and one of the most successful, Walmart can make improvements. The key problem for Walmart has to do with the negative treatment of employees causing a high employee turnover. Walmart’s success has come from its well know low prices and extreme variety of products allowing customers to get all their shopping done in one place. The company continues to employ new IT systems to track sales and allow managers to compare their store’s success to others.
In order to be competitive and also profitable, companies need to find ways to reduce or eliminate costs associated with routine and repetitive business transactions. Those transactions often fall in the areas of purchasing, billing, accounts receivable, and accounts payable. It is in these areas that the confusion caused by translating part numbers is most noticeable. Time spent translating one part number to another part number for the same item adds very little, if any, value to the transaction. The errors that result from errors in translation are the cause of many problems in invoicing and making payments.
Nowadays, people like to compare the goods between stores and online, they will buy the products on amazon for the low price. * Convenience: Bezos said that they do not make money from selling; they help people make better purchasing decision to make money. Amazon dedicated many resources to know what the customer wanted by offering customer review and feedback forms on all of its products (refer case study). Bezos invested a lot of money to establish operation center, even the operation scale is far beyond Amazon’s actual customer demand in that period. This enhances the customer experience greatly.
Written: Written information is very useful when you have to reach several persons but you don’t have time for a meeting or conversation. The symbols you use are representing the words that you want to say. Written information is at the most of the time very strict and clear, so people know what you mean. For example the department marketing can make a letter about their last market research and the results of it. It can help the company for the sales promotions and updating their knowledge about their consumers and concurrents.
The Best Buy Experience Customer service is one of the most important aspects of owning a business and I believe Best Buy to have one of the top customer service experiences in retail. It is my opinion that most big corporate retail chains do not follow the LIFE model, and for the most part, do not give the impression that they actually care about the customer. I patronize Best Buy regularly for anything computer related, and I must say, I have never had a bad experience with them. When it comes to the LIFE model, Best Buy does a good job of focusing on the little things, providing great insight, accepting feedback, and always meeting the expectation of the customer. Best Buy overall does a great job of focusing on the little things that make the customer service experience a good one.
Otis, thus, decided to focus on the way it delivered service and the qualitative aspects of service. Increased efficiency in handling customer requests The new system could accept customer requests for elevator maintenance during nonworking hours. Also, Otis was previously using commercial answering services and it felt that these centres had little incentive to be more efficient in forwarding requests, which in turn impacted responsiveness. Centralised record maintenance of past service The senior management came to know of excess call-backs only if the customer complained; this led to customer dissatisfaction and poor identification of specific and high priority customer requests. The new system could rectify these issues.
A Large Shopping Center vs. Small Shops Downtown Some people prefer to shop at downtown stores, but I prefer to shop at a large shopping center. The advantage of shopping at a mall, for example, is a lot easier in my opinion to shop at. You only have to park at one place and have hundreds of stores to choose from in that same building. Sometimes stores in a mall will have better sales than those stores by themselves. Americans are always trying to find ways to save money, so getting those deals are a plus.