Describe the ways to increase sales and profitability.pptx
1. Ways to increase sales and
profitability.
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When we look at the statistics of sales and profitability, we will see
that there are many ways to increase sales and increase income.
When looking at our competitors’ strategies, the question is how
they are doing better than us. There are times when companies have
their own reasons for success, but it does not mean the competition
is wrong. This paper will analyze the competitive advantage of Wal-
Mart from two different perspectives.
Ways to increase sales and profitability.
3. First, Wal-Mart has several locations which offer products from all
kinds of people from all parts of the world, including low-income
earners and middle-class customers in America. From this analysis of
its capabilities, one can conclude that Wal-Mart offers products from
almost every society on earth. Wal-Mart stores have been developed
so as to provide their consumers with a wide range of products that
are in most demand.
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Ways to increase sales and profitability.
4. The second aspect that Wal-Mart should be well known for is its
financial strength. The company boasts of having a net worth of $1.2
trillion, which makes it extremely popular among investors. In
addition, the company has an overall income of $10 billion, making it
one of the biggest American retail chain (Pavlova & Daskin, 2014).
Apart from that, Wal-Mart has also been named and ranked number
one by Forbes Magazine and Fortune magazine because of its ability
to make profits.
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Ways to increase sales and profitability
5. From the above case study, we can say that Walmart possesses a
good position of growing profit margin because of its unique way of
production. Wal-Mart is very efficient at producing high quality
goods and is an industry leader in providing affordable prices for
their consumers. The management team of Wal-Mart has always
come up with new techniques to improve their revenues and grow
more profit margins. As of 2007, the company had raised its earnings
growth from 4 percent to 14 percent. This translates into higher
profits, implying increasing profits over the previous years. Currently,
according to data provided by Bloomberg Business Week, Wal-Mart
has more than 2,000 different business segments in nearly 500
countries across nine continents.
Ways to increase sales and profitability.
6. They are categorized to produce approximately 22 percent of global
retail trade, and employ over 350,000 workers worldwide (Pavlova &
Daskin, 2014). In addition, Walmart continues to operate 24 hours a
day, seven days a week (Judd et al., 20191), which implies that
Walmart operates during peak customer business hours. With the
right strategy of promotion, it would be easier to ensure higher
profitability than some of its rivals. Based on this information, it is
easy to deduce that Wal-Mart is the best in terms of increasing sales
and profitability for its customers.
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Ways to increase sales and profitability.
7. Judd, C. J., Garecht, B., Lienhard, K., & Kornreuther, E. (2012). Global operations
management: Challenges, opportunities, and issues from a critical perspective. New
York:
Routledge.Pavlova, P. R., & Daskin, M. N. (2014). Supply Chain Processes Theory and
Practice (13th International ed.). New York, NY: McGraw-Hill
Education.Shelby, T. A. (2015, April 19). Why Companies Grow. Retrieved August 3,
2015, from Money, News, And World Markets:
http://www.moneynews.com/2015/09/19/why-companies-grow/Walmart Inc. (2014).
Fiscal Year 2014. Retrieved May 17, 2015, from
https://www.walmart.com/investors/financial-reporting/en/financial-reports/Wang, Y.,
Chang, H., Kim, J. W., Lee, S. W., Li, Z., Lin, W.,… Zhu, Q. (2013). An Analysis Of
Competitive Advantage Strategies For Costco Wholesale Corporation. Journal Of
Retailing Management 26(6), 558-573.
References