I think I went into this weeks topic about Wal-Mart a little bit biased. I have a Wal-Mart literally two minutes down the street from me and I love going there for almost anything that I need. I would say the only thing I don't get from Wal-Mart is jeans and shirts, because of the styles that they have. Also, when I am away at school there is a Wal-Mart within walking distance, so a lot of people, including me, go there for groceries and any other necessities. Part of this is due to convenience, but I also think a lot of it, at least for me, is the price of name brand products they have at Wal-Mart. They always have low prices.
Watching this video, what I've thought for some time now was confirmed, that Wal-Mart is good for America or at least good for other manufacturers. In the video Wal-Mart was portrayed as a bully at times, but the fact of the matter is that they are helping other brands sell products like crazy. This will also positively result in more goods manufactured to sell, the possibility of more jobs, and an increase in sales. Although it seems like Wal-Mart has a bit of a monopoly going on, and this could cause them to hike prices up considerably, they still manage to keep prices extremely low, beating other competitors like K-Mart and Target. I think this speaks volumes, just because of how easily prices could be raised by Wal-Mart.
One of the men who spoke on the video said that Wal-Mart strives to have the best product for the best value and best price and I think this holds true. Although it may not be for every product, Wal-Mart has extremely low prices. The products that are sold are name brand items like Sony, Hanes, and Dell (just to name a few), they are not obscure brands that are sold for cheap. And since these are good products that are sold, the life expectancy is high and the likelihood of problems occurring down the road is slim. With the factors mentioned above, this makes for a recipe for a good, successful company, which Wal-Mart has continually proven to be.
Watching this video, what I've thought for some time now was confirmed, that Wal-Mart is good for America or at least good for other manufacturers. In the video Wal-Mart was portrayed as a bully at times, but the fact of the matter is that they are helping other brands sell products like crazy. This will also positively result in more goods manufactured to sell, the possibility of more jobs, and an increase in sales. Although it seems like Wal-Mart has a bit of a monopoly going on, and this could cause them to hike prices up considerably, they still manage to keep prices extremely low, beating other competitors like K-Mart and Target. I think this speaks volumes, just because of how easily prices could be raised by Wal-Mart.
One of the men who spoke on the video said that Wal-Mart strives to have the best product for the best value and best price and I think this holds true. Although it may not be for every product, Wal-Mart has extremely low prices. The products that are sold are name brand items like Sony, Hanes, and Dell (just to name a few), they are not obscure brands that are sold for cheap. And since these are good products that are sold, the life expectancy is high and the likelihood of problems occurring down the road is slim. With the factors mentioned above, this makes for a recipe for a good, successful company, which Wal-Mart has continually proven to be.
I feel like Walmart is good for American citizens now but i really do worry the future. I am worried that Walmart is doing such a great job of having low prices that other companies are going to really have a hard time keeping up. I worry that stores like Kmart and Target will not be able to compete with walmart and eventually close, then walmart will have complete control of prices. Although there business is now based on low prices I worry that once they get all the power that would change. Also it does bother me that people in other countries are getting paid poorly to produce the goods that Walmart sells. I don't think Walmart is the sole reason for this but I think there competition for low prices has played a big role in this problem. That being said I can't say I am doing anything to help the problem. I continue shopping at Walmart because I enjoy the low prices. I guess I am a bit of a hypocrite.
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