31 Oct Unit 3_MT497_Team Discussion response
13759Respond or elaborate on the response below:
Walmart is one of the largest retailers in the world, and it must face various factors of the retail industry. Porter’s Five Forces model can help determine what those factors are and how Walmart can remain successful. The rivalry among existing competitors is quite high, as the company must compete with such corporations as Amazon, Costco, and Target. To remain on top, Walmart must always ensure low prices and convenience to customers through shopping at the store and online. The bargaining power of customers is moderate because the customers can easily switch to another retailer, forcing Walmart to keep the prices low and the service good. The bargaining power of suppliers is quite low, as Walmart has control of its own supply base. Its size allows the company to negotiate the best prices with suppliers and maintain control of its supply chain (Daft, 2021).
The threat of new entrants is below average because opening a company similar to or competitive with Walmart requires access to a large amount of money, access to the newest technology, and strength of supply chain. The threat of substitutes is not as elevated, as Walmart continues to grow its e-commerce sector and improve its delivery services. The management strongly influences external factors, and strong planning allows the organization to react to pressures and maintain organizational performance (Daft, 2021). Therefore, Walmart’s personality continues to stay on top through efficiency and technology. Its e-commerce labor helps the company remain ahead of competitors and be a major player in both physical and virtual markets.
Its toughest competitor is Amazon, which has fast shipping, an even broader choice, and a better interface. Its strength in e-commerce pushed Walmart into heavy online investments and the development of its marketplace. Both companies offer convenience and value, with Walmart’s balancing s-trade, low prices, strong global supply chain, and e-commerce presence helping face every strategy. Amazon leads the online retail while Walmart is stable between in-store products and digital expansion.
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