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STR 581 Week 5 Strategic Plan: Implementation Plan, Strategic Controls, and Contingency

When a person thinks of Wal-Mart, the first thing that comes to mind is low prices. This strategy has carried the multinational retail store for over 20 years. Wal-Mart was known as the retail company with everyday low prices with a variety of products and services. The chief Jill Barshay thought Wal-Mart needed a new slogan and strategy. Wal-Mart advertisement and slogan now says, “Save More, Live Better. The slogan ties into their mission statement, “Saving people money so that they can live better.” Although Wal-Mart mission statement is connected to their slogan, there has been controversy with its competitor Target. Target’s slogan is “Expect More. Pay Less.” Wal-Mart is having a difficult time with increasing revenue because other stores such as Target had been cutting prices too. If Wal-Mart decided to introduce upscale goods, the company will not be able offer low prices all the time. Wal-Mart need to implement plan to win more customers and maintain current customers while embracing strategies to save the customers money and time……….Continued (10 Pages with References)