WALMART Analysis : How the selected entity is described as relating to a “market
ID: 1116662 • Letter: W
Question
WALMART
Analysis: How the selected entity is described as relating to a “market type” as studied in our Economics class, using a graphic representation or verbal description.
1. Identify
a. the company’s “market type”, such as Perfect Competition, Monopoly, Oligopoly or Monopolistic Competition, plus
b. whether it is a Private Enterprise, Government entity or Non-Governmental Organization, and
c. whether the product it purveys is a good or a service, and
d. Is product a private good, a public good, a Common Resource or a Club Good/Natural Monopoly?
2. Present information about
a. the Industry in which that company or other entity fits,
b. the approx number of enterprises in it, in the US only or globally, and
c. the dollar value and percent of overall output represented by that industry, and
d. the approx. percent of output in that industry represented by your selected entity.
3. Describe
a. ownership,
b. the overall operations,
c. production (how it produces its product),
d. marketing strategy (how it spreads awareness of its product),
e. sales strategy (how it distributes its product), and
f. customer service (how it responds to product issues)
4. Explain how the company’s strategy does (or perhaps does not) fit within the structure of “market type” mentioned at the beginning.
Explanation / Answer
(a)
Reasons behind why Walmart is an example of Oligoly type of market structure:
1. The global retail industry, with a scale like Walmart has high barriers to entry.
2. The number of big competitors (Target, KMart, Bestbuy, Costco, Kroger) is few.
3. WalMart can be the price decider in the market and has the ability to set prices.
(b)
Walmart is a private enterprise because it trades for profit and is listed on the stock exchange.
(c) Wal-Mart Stores is an American multinational retail corporation that operates as chain of hypermarkets, discount department stores, and grocery stores. It purveys goods.
(d) Wal-mart has a private status
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.