Walmart
Chapter 4 Definitions and Examples:
Tangible resources - Resources that can be readily seen, touched, and quantified. Physical assets such as Walmart's property, warehouse, equipment, products, as well as cash.
Intangible resources - Resources that are difficult to see, touch, or quantify. Walmart's intangible resources include, employees knowledge and skills, a firm's reputation, and a firm's culture, as well as patents or copyrights Walmart may have.
Distinctive competence - A set of activities that an organization performs especially well. For example, Walmart is exceptionally well at customer service. From my personal experience, everytime I go to Walmart someone always greets me as I walk in, someone will make sure I find everything I need/help me find what I need, and during check out they asked if I found everything alright. This is just one example of Walmart's unconditional customer service capabilities.
Marketing Mix - also known as the four Ps of marketing - Product, Price, Place, Promotion.
Walmart has a wide range of products; from kids toys to lawn care products to groceries. Walmart is your one stop shop for anything you could possibly need. Walmarts prices are unbeatable. Walmart will price match or beat all of their competitors prices. Walmarts place would be the location of Walmart stores and/or their warehouses. Walmarts promotion consists of their marketing strategy such as commercials on television and advertising in newspapers.
Patents - Legal decrees that protect inventions from direct imitation for a limited time frame.
Trademarks - Phrases, pictures, names, or symbols used to identify a particular organization.
Copyrights - Provides exclusive rights to the creators of original artistic works such as books, movies, songs, and screenplays.
Trade secrets - Refer to formulas, practices, and designs that are central to a firm's business and remain unknown to competitors.
Walmart's SWOT Analysis:
Strengths - low prices, large selection of products, exceptional customer service/satisfaction, strong market presence, good supply chain.
Weaknesses - low global presence, behind rivals in e-commerce, brand image has weak reputation.
Opportunities - Global expansion, increasing online sales, strategic alliances - acquiring rivals firms.
Threats - Intense competition, laws and regulations - trade policies, cultural barriers, current economy, slow market growth.
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