1 2 10 15 16 17 18 24 25.1Walmart was founded in 1962 by Sam Walton when he opened the first store in Arkansas. Its main goal was to provide products to consumers at the lowest possible prices. This strategy was embedded in the company's mission statement: "We save people money so they can live better." Walmart operates using this strategy. Over the years, this has worked to their advantage. Walmart's strategy of locating in small towns rather than condensed urban areas was one of the first ways Walmart gained a competitive advantage over its competitors during its early days. Realizing that people were willing to go the extra mile for what they saw as good value was a strategy that landed Walmart on the Fortune 500 list of America's largest companies in 2002. Currently, they are number 2 on Fortune 100. Walmart maintains relationships with consumers to ensure that they get the best quality of products at the lowest possible price. Thanks to Walmart's high market share, this was made possible. Most suppliers happily modify their products so they can sell to Walmart at a lower rate. Walmart suppliers know that a good relationship with Walmart will ensure that a significant percentage of their revenue is not lost. Walmart is able to maintain the number one position in the industry by owning its supply chain processes. Walmart has a large number of warehouses and advanced technology to reduce costs by eliminating middlemen. Walmart also prides itself on its excellent customer service. For example, upon entering a Walmart store, one would immediately be greeted at the door by smiling staff. It is such strategies that are neglected by Walmart's competition and that Walmart uses to stay...... middle of paper...... fish and other seafood, Wal-Mart stores of this country began to display discovered meat and installed aquariums for the Chinese to browse and choose their favorites. This approach is very beneficial as it ensures that even the most local population is reached and served. Through this business strategy, Wal-Mart is able to meet national operational requirements, market requirements, flexibilities and product quality to satisfy customers in different countries differently. This approach has helped Wal-Mart achieve many profits, especially keeping in mind that the governments of different countries are different. Based on this, customers from different countries are served differently according to their tastes. This approach requires a lot of marketing research to ensure that the cultural factors of a country's citizens are thoroughly researched..