Branding matters, and big corporations in different industries are trying to create the best possible branding strategy. Having a slogan for your business can hugely impact your business’s success. This article will discuss why Walmart is number one in the retail industry and the critical factors for this success. We have chosen Walmart because it’s a well-known brand in the retail and wholesale business.
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What Is Slogan?
According to Entrepreneur.com’s small business encyclopedia, a slogan is a motto or a group of words that are merged in a particular way to determine a product or company. The slogan will stay in customers’ minds and become a vital reminder of a company’s services or products.
Walmart Slogan Analysis
Walmart is following a simple but critical strategy. As a result, Walmart can save lots of money while purchasing supplies due to the sheer size of its stores. By buying vast quantities of goods in bulk, Walmart can save on prices per individual item, enabling Walmart to sell the product cheaper.Â
Another main factor of Walmart’s success is a lack of competitors. According to the Business Insider report, About 90 percent of Americans live within 15 miles of a Walmart. As a result, the company can count on millions of customers using its physical stores as their go-to spot for groceries, clothing, household goods, and more. This vast, trustworthy customer base allows them to keep prices low.Â
What if you can download the Walmart app on your phone or use a user. Friendly website to order your items? Yes, that is true. Walmart has been investing millions of dollars in their online platform, and customers are happy to use and place their orders online. Walmarts online platforms are user-friendly, and also they offer store prices.Â
Walmart had the market dominion over the supplier and competitors, which is the main reason they could control prices and keep them low. Also, you can find anything you want in Walmarts store; this is called product variety advantage over competitors.
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