Walmart.com
is a lot like your neighborhood Wal-Mart store. We feature a great selection of high-quality merchandise, friendly service and, of course, Every Day Low Prices.
Walmart.com
is a subsidiary of Wal-Mart Stores, Inc. The headquarters is on the San Francisco Peninsula near Silicon Valley.
I’ve argued that lifestyle businesses, in many ways, are very
different from traditional businesses. At a basic level, though,
every business, whether it’s Microsoft, the local dry cleaner, or a
one-person graphic arts company, faces a few of the same core
issues and tasks in order to survive. These include income, legal
structure, planning and overall management, financial management,
and marketing.
Income
To survive, a business must take in at least enough money to
meet its expenses. Some new businesses with ample financing
can and do initially operate at a loss for several months, even
years. Eventually, though, even the best-financed ventures can’t
survive as businesses if they can’t meet their expenses. Of course,
this is the minimum criterion. Few business owners are satisfied
to merely take in enough to meet their expenses—they want and
expect to earn a profit. For purposes of this book, meeting and
exceeding expenses pretty much constitute the foremost criteria
for defining a business.
Walmart.com goal — providing easy access to more Wal-Mart — is evident in the more than 1,000,000 products available online and in the innovative businesses that Walmart.com continues to develop, such as Music Downloads and 1-Hour Photos, which gives customers the convenience of ordering products online and picking them up at a local Wal-Mart.
www.Walmart.com
is passionate about combining the best of two great worlds — technology and world-class retailing — to give customers a wide assortment of their favorite products, Every Day Low Prices, guaranteed satisfaction, friendly service, convenient hours (24 hours, 7 days a week) and a great online shopping experience.
Marketing
Perhaps in the 1800s, when Mr. Emerson said this, it was true;
but in the 21st century, it is decidedly a recipe for small business
disaster. Every company must market its product or service.
Many people equate marketing with advertising or promotion.
In reality, advertising and promotion are only a few of the
elements of marketing. Others are distribution (getting the product
or service to the customer), price, and the product itself. Not
every company needs media advertising, and some don’t need to
advertise at all in the traditional sense. But every company does
need to consider the ways in which its prospective customers will
2 / What Is a Business? (Basic Elements) 29
learn about its products and services, how it will get the services
to its customers, and the prices it will charge for those products
and services. There is a huge range of methods that companies
employ to market their offerings, and the most obvious—advertising—
is only the tip of the iceberg.
www.Walmart.com
taps into many things that have made Wal-Mart a universally known brand — like excellent supplier relationships, highly efficient systems, an unswerving commitment to Sam Walton's "Always Low Prices" philosophy and unrivaled retailers who strive to make the customer No. 1.
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