Discuss about the Importance Of The Retail Stores Walmart Inc.
The report helps in analysing the importance of the retail stores in the developing market scenario. There are different individuals in the entire society who purchase different kind of products from the supermarkets, it is essential in order to understand the importance of the retail stores in the economy. Walmart Inc. is the American multinational retail corporation that operates an entire chain of grocery stores, discount departmental stores and hypermarkets as well. Walmart Inc. has tried to develop potential growth in the entire competitive market with the help of increasing and expanding the range of the products provided by them.
In United States of America, Walmart Inc is one of the oldest retail companies that was established in the year 1962. The individuals in the United States of America has increased the perception among the customers regarding the purchase of all the goods from the retail stores. After the perception of the customers has changed, there has been increase in the number of retail stores in United States of America. The report throws a light on the lifestyle of the individuals staying in United States has changed the perception of the customers as well.
The brand perception, service quality, product quality has to be discusses effectively as this creates huge importance on providing satisfaction to the different customers in the entire economy. In different cases, the pricing, brand perception along with product quality are the essential features of providing satisfaction to the different customers in the market effectively. The research aims and objectives has to be analysed in an appropriate manner as this will help the company in understanding the different kind of objectives that has to be achieved by them.
Walmart is one of the American Companies and retail corporation that is operating as the chain of the hypermarkets and grocery stores (“Walmart Corporate – We save people money so they can live better.”, 2018). The CEO of the organization is Doug McMillon and the founder of the company is Walton family. There are more than 11,718 stores worldwide and the revenue earned by the company is more than US$500.34 billion.
The quality of the services, product quality along with brand perception plays a major role and created significant influence on the customer satisfaction at Walmart Inc situated in United States of America.
The entire study focuses mainly on the examination of the pricing, service and brand perception efficiency that can create huge impact on providing satisfaction to the customers. The importance of the retail stores along with the importance of the brand and pricing along with quality is necessary for the business appropriately.
The entire paper will focus on the five variables that are independent in nature that is inclusive of customer satisfaction, service quality, price quality and the features of the product effectually. Through the help of this section, the informative descriptions are the factors in this study that are included below.
According to Blut et al., (2015), the brand perception and image is the emotional perception that the consumers attaches to specific kind of brands and this consists of symbolic and functional brand beliefs. In the present scenario, the brand perceptions play a major role in the business of the retail stores as the economy has been competitive in nature and there is huge competition among the different competitors as well. Walmart’s brand perception and equity plays a major role in satisfying the customers as the service attendants are friendly and willing to assist the different shoppers with the different information that is required by them.
On the other hand, Zhang et al., (2017) has stated and hypothesised that for the different customers, the brand matters the most as the consumers pay premium for the purchase of goods and services at Walmart and this provides the customers with trust, consistency and quality. . Noyan & ?im?ek, (2014) has commented that the knowing the customers such as age, gender and location is essential to be known as this helps in shaping the brand perception of the customers effectively. It has been seen that the tastes and preferences of the customers vary from one another and this has to be analysed by the company effectively.
The methodology that has been used in collecting the data are tested by data collection from different retail stores in United States of America. There are different supermarkets that uses the consumer perception theory as they try to understand their requirements as this helps them in influencing the decisions. This particular theory is utilised when the companies design a campaign for the product or the brand. According to Hamari, Hanner & Koivisto, (2017), the brand perception is owned by the different customers and it is not the different brands. The methodology that has been used is through conducting surveys and groups that can form the instrument for improving and measuring the brand perception.
When it is regarding offering the goods and services to the customers, the brand perception plays an essential role in the process. According to Izogo & Ogba, (2015), brand perception is viewed to be playing essential role in switching of the brand and intention of the purchases that is made by them. However, Cameron et al., (2016) has stated that the approach of the staffs towards the customers along with analysis of the contents of the product and their packaging and hygienic conditions that prominent factors that impacts the customer’s choice of the supermarkets. Similarly, Hegner et al., (2017) has stated that the location of the supermarket along with product quality and price are important factors in the deciding the brand perception among the customers regarding Walmart Inc.
The brand perception plays a vital role that impacts the purchase intention among the different consumers (Ellickson, 2016). There are few trends that helps in dominating the current lifestyle of the different individuals and the individuals have currently started to purchase form Walmart that are moderately priced and the brand perception is high in nature (Ferguson, Brown & Johnston, 2017). However, there are different researchers have commented that the brand perception in the supermarket Walmart has created proper brand equity and perception in the minds of the customers in the market (Choi et al., 2017).
The brand perception plays a major role in the minds of the customers as they feel that Walmart is offering cheap prices of the products in comparison to the other supermarkets. Additionally, there are different other elements that includes marketing sales in creating a strong customer base in the market as applied by Walmart in comparison to the other competitors (Dhar, 2015).
As per Zhuang & Babin, (2015), the article focuses mainly on the influence of the normative kind of commitment on service quality and retention relationship. The paper has helped in conducting an investigation on the entire effect of the service quality management. The quality of the services plays a major role in retaining the different consumers in the market. The methodology used in the article included the longitudinal experiment that provided a view on the different importance of the service quality management in achieving the requirements of the different customers (Mardanib et al., 2015).
On the other hand, Ortega et al., (2015) has commented that retail stores are viewed in order to provide better services to customers as this increases purchases of the customers along with increasing frequency of the customers to their store. The quality of the services and products provided by Walmart is well recognised by the different customers who purchases different products. It has been identified that customers have to be kept as the centre of attraction by implementing effective approach of trending and they can trust on the quality of the services provided by Walmart by word of mouth (Orel & Kara, 2014). With the help of providing proper customer service to the different customers at Walmart, it can be commented that Walmart is shinning as the brand with the implementation of strong brand identity and this is communicated to the customers who are the target customers of Walmart.
Through the different kind of services offered to the customers at Walmart, the retail store Walmart has been recognised as one of the efficient stores in United States and the main attraction of the store are the household persons who deal with various day to day activities at their home. Furthermore, with the help of providing good services to the customers, Walmart is offering the customers with different deliverables in an effectual manner.
While offering different kind of services, Walmart has incorporated technology into making the usage of the internet and other technological advancements to manage the entire business performance. In all the retail outlets of Walmart, there are free Wi-Fi that is offered to the different customers in an effectual manner. In addition, for the element of profit making, Walmart has used the unique selling proposition that has acted as the leverage to Walmart that concerns in gaining competitive advantage in the entire market.
The organization is identified among the different customers with good reputation and this has helped the company in increasing the purchase along with increase in the revenues of the company as well. Being United States of America is one of the fast-moving countries, the USP has played a consistent role in serving and accessing the customers in a well-planned manner. Walmart is one such retail stores wherein all the household individuals come and shop for the daily needs products and they are satisfied with the service quality as well (Lien, Cao & Zhou, 2017).
According to Kasiri et al, (2017), the quality of the products plays a vital role in Walmart as the main purpose is to address the relationship between strategies of pricing and price setting practices. Lien, Cao & Zhou, (2017) has commented that the study is connected with the practices of cost setting strategies and the relationship with the satisfaction provided to the different customers in the market. The methodology used helped in collecting data among the different retail stores and the customers in United States of America.
The features of the products play an essential role in selling general products that are known to the clients. The one most essential element that is considered significant in selling products and services to the customers is branding of the products. Kasiri et al, (2017) has commented that business model of Walmart includes different purchasing power and behaviour through the discount strategies. The article has focused on different product features along with advertisement strategies along with financial information.
The features of the product play an essential role in selling the different products and the products are known to the clients as well. Product branding plays a major role in mastering the features of the product. Kasiri et al, (2017) has stated that as the multinational company, Walmart runs chain of large discount departmental stores along with warehouse stores. On the other hand, Blut et al., (2015) has indicated the interconnection between the identity of the clients and the association of the brands as well.
Additionally, through the lab experiments were conducted in order to understand the moderating factor of the entire impact was revealed. As per Cameron et al., (2016), the brand of Walmart has intended to promote along with exhibit between consumption, production of the experience of the different products of Walmart in connection with the brand ritualization to the different customers. Kasiri et al, (2017) has stated the human perception personality has huge impact on the identification of the brand as the brand is identified as one of the serious market form of culture that acts as the entire position of the mediation along with articulation of the production and consumption process.
As commented by Cameron et al., (2016), the customer satisfaction along with customer loyalty plays a vital role in the organization named Walmart. From the article, it has been seen that more than 75% of the customers has commented that they are happy with the different kind of services provided to them at Walmart. The score of Walmart in providing customer satisfaction is on the higher front since the year 2013 from the month of June. On the front of customer service, more than 60% of the shoppers are satisfied with the different assistance received by them from the customer service department.
In the customer service department, Walmart has gained and it has been recognised to be the major contributor to handle the different kind of business ethical practices. Walmart is one such retail store that mainly focuses on the different kind of increasing the brand awareness and perception among the different individuals in the entire market. The behaviour of the different customer service department individuals has strong connection along with bonding with the different customers regarding their brand and this helps them in analysing more popularity in the competitive market.
The respective paper reviews the literature on providing customer satisfaction measurement and this provides the theoretical background for development of different tools that helps in influencing the buying behaviour of the customers in the organization. Walmart has tried to increase the customer relationship management with the help of implementation of policies and providing the satisfaction to the customers in a proper manner. There are major determinants of the measuring the customer satisfaction that helps Walmart in engaging more customers satisfaction and loyalty programs that has helped and assisted them in managing the customers in an effectual manner. Lastly, the customer satisfaction is the key element in the marketing strategy of the organization as this helps the company in gaining competitive advantage in the entire market appropriately.
Conclusion
Therefore, it can be concluded that the product quality is essential in nature as this has helped Walmart in gaining competitive advantage in the market that is competitive in nature. With the entire research on Walmart along with the different suppliers, it has been seen that this has offered opportunity to find the necessary improvement strategies to ensure that the customer satisfaction plays a vital role in gaining more attraction in the competitive market.
The market has changes to a great extent, this has helped Walmart in attracting more customers by arranging different loyalty programs and this has led to enrichment of the customer satisfaction in the entire competitive market. Walmart has been recognised as one of the largest and best retail companies in the entire world. As identified in the business vision of the Walmart, it has helped the company in making the customers recognise the same in the entire global market.
With the vision of Walmart, it is essential in noting that the respective retail store is built on the entire foundation of achieving the core values of the organization. Walmart is recognised to be utilising one of the best retail stores that provides the customers with different customers and they are introducing different kind of other services and products in such a manner that is viewed by the company and this is liked by all the different individuals as well in the organization.
References
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