Strategic Management of Walmart and Nordstrom
Strategic Managament
Table of Contents
TOC \o "1-3" \h \z \u Comparison and contrast of the strategic management of Walmart and Nordstrom PAGEREF _Toc532900455 \h 3
Mission Statement PAGEREF _Toc532900456 \h 3
Price, points and positioning PAGEREF _Toc532900457 \h 3
Competitive strategies PAGEREF _Toc532900458 \h 3
Long-term strategies for growth and sustainability PAGEREF _Toc532900459 \h 3
References PAGEREF _Toc532900460 \h 4
Comparison and contrast of the strategic management of Walmart and Nordstrom
Mission Statement
“To save people’s money so as to they live better and in an effective manner” is the corporate mission statement of Wal-Mart. By this statement the morals and ethics of the founder (Sam Walton) of the company are clearly shown. In business, strategic decisions directly show the mission statement that is as same as the company’s slogan “for Living better, Save money” (Engel, 2018). According to the statement, it is very clear that it aims to attract customers; business strategies of Wal-Mart make use of price the same as selling point. The importance of these selling points is that it demonstrates in majority of the company’s strategies.
On the other hand, in online or store, Nordstrom works continuously and relentlessly wherever the new opportunities take place- for the purpose to offers the most convincing shopping experience to their target customers (Wijewantha, 2016). To giving the best possible collection, service, price and quality to their customers, is the ultimate thinking of John W. Nordstrom.
As per my opinion, both companies are having efficient mission statement. However, the mission statement of Wal-Mart affects the expectations of customers to save money and live a better life.
Price, points and positioning
The company of Wal-Mart provides products at the low prices so the people can live better and save more and more money. In its business model, Wal-Mart makes use of pricing advantage to become sustainable. Wal-Mart damaged so many small retailers more than decades of functioning and it is all because of its low price positioning (Spicer and Hyatt, 2017). In the end, Wal-Mart creates customer friendly image of the brand for satisfying the customer needs. For this brand, it was the major strength that assists them to achieve high productivity and also raise the market share. It becomes the most favourite retail brand of America, and it is only because of its customer orientation and low pricing strategy. For offering fantastic and unbelievable inshore experience to its customers, the brand is making investments in additional technical tools. The relationship of Wal-Mart with its employees is shows as mutually beneficial (Danziger, Hadar and Morwitz, 2014).
In contrast, Nordstrom managed the smart choice to make its services as strongest selling point. Nordstrom includes wide varieties of products and at a great level the price range is stretched. The company is at a well-positioned for mainta
