Walmart
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History, Development, and Growth
Sam Walton led Wal-Mart to become the top discount retailer. The mega corporation has eliminated top competitors such as Kmart, Target, and Sears to reign supreme over the discount retailing market. Following World War II, discount retailing evolved due to frugality during the war. Walton opened the first Wal-Mart in Rogers, Arkansas in 1962. The philosophy Walton acquired to start Wal-Mart began with his earlier experience at JC Penny. The philosophy is based on delivering products based on quality and value combined with superb customer service.
Wal-Mart initially set out by expanding in small towns and gained not just a reputation for low prices but a family friendly company. The departments were wide and varied to include: family apparel, toys, lawn and garden, health and beauty, household goods, crafts, fabrics, jewelry and most recently pharmacies, electronics, tires and lube and the latest gas stations.
Sam Walton strategy was to gain dominance by deep discounting, listening and forming relationships with employees and customers and assuring the consumer a quality product.
Product is displayed in a distinctive way by stacking and drawing attention to the eye...