dolution

Please read carefully the case senario and respond appropriately. Double space your work.

Competing Against Wal-Mart

Discuss methods small businesses will use to compete against retail giants like Home Depot or Wal-Mart.

Now consider this situation. You own a profitable optical outlet in a town with a population of about 12,000. Your store is in an excellent location near the downtown business district. You’ve just learned that a Wal-Mart Supercenter will open just outside of town in a few weeks. One of the departments in the Supercenter will be a Wal-Mart Optical Center, providing many of the same services your store does.

You know that your customers have been loyal to you throughout the 10 years you’ve been in operation, but you also realize that Wal-Mart will be able to undercut your prices significantly. The location of the outlet within a Wal-Mart store will give potential customers the added convenience of one-stop shopping.

1. Analyze the strengths and weaknesses of your business right now. What do you do well? Are there any gaps in services provided? Does your small business have any strategic advantages in the marketplace? Who are your customers and what do they want? NOTE: Outline format required
2. Prepare a six-month plan for meeting the Wal-Mart competition. How can you differentiate your business? Describe any changes you plan to make. What are the core characteristics of your enterprise that could be used to meet the competition? NOTE: Outline format required
3. At the end of the six-month period, what impact do you think Wal-Mart’s Optical Outlet will have on your business? Will you still be profitable?