Walmart is a major retailer known for its low prices. It keeps costs and prices low through strategies like visiting stores frequently to understand customers, calling employees "associates" to foster partnership, maintaining tight control over costs through efficient distribution systems and lower advertising spending. The document then discusses different types of retailers like department stores, supermarkets, discount stores and convenience stores. It also covers types of wholesalers like merchant wholesalers, brokers and agents, and manufacturers' branches that add value through functions like buying, selling, warehousing and financing.

1. Retailing and Wholesaling Chapter 13