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Synopsis Walmart is the world's largest company, and it rang up an incredible $514 billion in sales last year-almost four times the sales of competitors Target, Sears, Macy's, JCPenney, and Kohl's combined. Walmart serves more than 270 million customers per week through more than 11,200 stores in 27 countries and serves as the nation's largest private employer. Its mission is to lower the cost of living for the world. To accomplish this mission, Walmart offers a broad selection of carefully selected goods at "unbeatable low prices." Walmart's growth has slowed as it has reached such an enormous size and because while retail sales are slow, online sales are growing more than 20 percent per year. Walmart delivers a superior in store experience. Amazon delivers a superior online experience. Walmart has invested to build its omni-channel capabilities. Based on its obsession with customer value, Walmart is determined to keep making its slogan, "Save money. Live better." a reality for as many people as possible. Starting the Discussion You can also enter the company name on and What do you know about Walmart and how do your experiences with the company fit with the opening vignette? Visit the website check out several of their videos. What are Walmart's approaches to target customers and take advantage of the competition (Amazon)? Discussion Questions 1. For Amazon and Walmart, is it more important to have lower prices or the perception of lower prices? (As the famous Jack Trout quote goes. "There are no best products. All that exists in the world of marketing are perceptions in the minds of the customer or prospect. The perception is reality. Everything else is an illusion." For the most part, this is true. While there exists a correlation between reality and perception to some extent consumers do not make decisions based on realities that do not match their perceptions.) 2. What pricing strategies do Amazon and Walmart each use? Do they use the same ones? In what ways do their strategies match and in what ways do they differ? Review Figures 10.1 and 10.2 in discussing Amazon and Walmart's pricing strategies. (Do product costs matter more than consumer perceptions of value in setting prices for these companies? Or not? Explain.) 3. In the battle for online dominance, just how important is low price? How important are the other benefits that Amazon and Walmart each deliver? (In today's world of shopping-app enabling price shopping, it would seem that having the lowest price is essential. However, a current trend in retailing is providing a full plate of options and providing a seamless transition from any one of them to another. As the case points out. Walmart has an advantage in developing and offering mo ways to buy (and return) products since it has locations everywhere. If Walmart can develop a reliable delivery service out of each of its stores, it can promise same-day delivery, which Amazon has been unable to do. However, Amazon has the benefit of endless inventories and a logistics system that selects, packages, and ships products in record time. It also has much stronger relationships with shippers like UPS and has created a seamless process where packages leave its fulfillment centers and are directly transferred to a UPS plane.)