Marketing Principles Supermarkets Incorporated : CNBC Original documentary 1- Na
ID: 361014 • Letter: M
Question
Marketing Principles
Supermarkets Incorporated : CNBC Original documentary
1- Name and describe at least two different types of retailers that are profiled in the video.
Retailer type one:
Retailer type two:
2- One of the biggest trends in retailing includes the growing importance of retail technology. Describe the various ways the video speaks to these advancements, AND the two extra reading articles on e-learning. What might be an ethical issue associated with current retail technology trends? Will knowing about the technology that retailers use have any impact on your consumer shopping behavior? Why or why not?
3- Martin Lindstrom is one of several experts interviewed in the video and discusses the various ways that retail stores are designed to impact shopper behavior. What are some of the strategies that retailers are currently employing and how does Lindstrom suggest you “outsmart” them?
Explanation / Answer
Walmart
Walmart is a retail giant in the industry operating across the seas and creating a big furtune out of it. Its the worlds largest and the most influencing retailer.
Some terms that followed to build its empire are as follows.
Walmart's supply chain is one of the world's most efficient supply chain, Walmart uses very less break in between from the warehouse to their store reducing the costs and enhancing the overall profit.
By having an effective supply chain Walmart has successfully developed it advantage over its competitors and in providing different materials to the different places at a very standard time.
Sometimes it would be less than official for the company to have a supply chain dependent organisation because the whole system is depending on the supply chain if a part breaks down then there is a little delay in doing the business.
Strategic partnership is one of main reasons of Walmart's success , Walmart find the best price supplier and ask them if they can fullfil the demand then a long term partnership program is offer which reduces the prices.
Strategic partnerships also provides a solid base walmart. By having different strategic partnerships Walmart at successfully integrated itself into market and merge into the competitors as well.
Sometimes is strategic partnerships also create a problem for the organisation as the partners start to show different characteristics rather than implementing the strategies with the Walmart.
Walmart uses very intuitive way of storing the inventory, It keep its inventory in truck and then later the inventory is loaded to the semi truck without moving them to the warehouse , this broadly increases the efficiency of the transportation and time.
Dependency on the too much Technology and totally depending on the intuitive storage system sometimes leads to failure as they can be technological as well as mechanical error.
Walmart uses state of the art sorting and transporting technologies to ensure the required quality and speed it requires and to obtain high profits and and super efficient system.
Technology based environment is always in fear of getting hacked, being misused and being operated by some other person rather than the companies official employees. Depending on too much Technology Kelly Walmart failure in terms of the technological errors.
Walmart used the terms listed above to build an environment for the low cost industry. It focused on the largest group of middle class people and the idea was to provide low cost product with great quality. Walmart provided the best supply and management system which cut down the costs thus customers were getting the products in best price with higher quality.
Walmart's strategy kept evolving according to the time and needs thus Walmart's low cost strategy is very well suited for the industry.
Walmarts communication model includes communicating with stakeholders on the issue of reduced sales from E-Commerce depart as well as improving The E-Commerce service inside the organisation by taking the communication as a serious task.
Company has implemented multiple database management systems for better communication inside your organisation for provision of inter connectivity in different departments. My connecting the different department communicate information flows from one department to another department in a horizontal way and provides efficient support as well as feedback.
Sudden changes in the supply chain as well as requirement of inventory is also done by the business communication from the bottom most store of Walmart to the top most authorities. By having a communication channel in different departments of the company Walmart has successfully manage to integrate itself into the organisational structure.
By implementation of HRIS walmart has successfully built a new system for efficiently communicating within the human resource information. This is specific system has increased the capability of Walmart to communicate with their overall employees and human resources inside the organisation to create a better working environment. By promoting you open communication between stakeholders and employees of the organisation Walmart has successfully managed to interconnect the department and provide better fluency of communication between two channels of the organisation. By arranging the sender, mediator, receiver system into the organisation Walmart has successfully manage to implement a new system which is totally based on electronics to provide send message to the receiver and take the feedback or an instant time.
Walmart supply chain is one of the finest examples of implementation of communication model. Walmart supply chain uses a digital communication structure from bottom to up. Sending out information from their inventory to the stores and stores to the inventory Walmart successfully manages the overall number of product in their inventory system. Buy automatic be communicated process from their inventory to the suppliers as well as getting supplies Walmart has successfully managing the overall process of communication inside the organisation.
Whole Foods Market
Whole food market is one of the America's biggest organic and natural food retailers, world food market was not only America but the world's biggest organic and natural food retailer. World food market is basically an employee oriented organisation which focuses on growth of their employees that reflects in their working platform as well as the system. Organisation culture of the plant is very strong and contributes to the brand strength.
Whole Foods Market’s organisational culture is considered as one of the best work culture for an organisation and is a fine example of an employee oriented workplace and culture in an organisation. This specific organisational culture attract the customer to their products and their store which results in increased profits and sales.
Basic features of whole foods market's organisational cultures are as follows
· Team focus
Whole Foods Market’s basic strategy includes focusing on the teams. Most of the task of the company are designed to be done by 18 which improve their overall efficiency as well as the productivity of the human resource. By optimising the employee morale and reducing the turnover company has successfully implemented the team system into its and work structure. The core value of Whole Foods Market is “Supporting team member happiness and excellence.” when the culture of the organisation contribution we human resource management.
· Active participation
Company also introduced the active participation system into its organisation and supports the extensive employee participation in each and every job provided inside the company. For example employees select the team members according to their choices and mutual understanding for a better and productive work environment.
· Interactions out of work environment
Whole foods market also very well known for interactions other than formal inside it stores. Employees are in touch with each other and always keep discussing about random things inside the plane as well as discussing things with the customers as well. The specific practice reduces the gap between the customer and the employees which is directly related to the growth of the business. Whole foods market also focuses on creating social relationships within the Company organisation and culturally support the workers as well as the customers.
· Trasparency in workplace
Wholw food market is one of the most transparent work environment available in the USA. By creating transparent report which has to inform the stakeholders is a key thing of transparency within the organisation. Not only the stakeholders but whole foods market also provide this financial report to their employees. Financial report provision to the Employees make them understand the form situation in a better manner. By introducing transparency in the workplace company also helps in the human resource management which is done in resilience.
Whole foods market culture is one of the best culture in the business. This specific culture is based on high ethics and morals of employees as well as the working environment. Using their work culture as a tool company uses this specific culture to improve their Human Resource Management hence organisational culture of whole foods market is one of the strongest points of its key success
According to VRIO framework whole food market can be divided into following categories.
Value
Whole food markets have successfully compete with its competitor and created its own brand value by imposing their cultural activities as well as ethical working environment. Whole food market 2nd standard by maintaining ethical environment of their work places as well as the organisational system.
Rarity
Whole food market has imposed a totally new idea to the market by implementing the green strategies towards the work so far system.
In terms of priority whole food market is not there resourced but their organisational culture in the rear and it is very hard to find a standard of this level in any organisation culture other than whole food market.
Imitability
Ability of whole food markets is not that hard but imitation of their organisational culture is again very tough as they have done it so deeply that from the very beginning company has always work as a green and ethical company. By providing ethical advantages to its customers and implementing the system into the core strategies of the organisation they made it very hard to Limited.
Organisation
Whole foods has organised to create the ethical values .Rather than focusing on profits, company always focuses on the employee employer relationship and the customer employee relationship which makes it one of the best working environment for an employee. Add a base of organisation whole food markets has successfully integrated all of its path into one place by creating a more and legal environment for business.
Video Analysis
Whole food market has always been a Pioneer in the industry in maintaining the relationship between the employees as well as in its organisation.
Whole food market has always done its business with a clear vision towards a society. They have always maintain a balance between the cultural as well as social stand of the company. By providing one of the best working environment in the United States of America food market has become an icon of ethical business. Correct decisions and ethical thinking leadership made its working structure, the structure of employee.
Employees are motivated to work towards achieving their goal while being article. Whole food market fracture reducing peoples over all images by sharing most of the part on their original culture. inter employee relationship is always motivated.