In terms of general strategy, companies need to either:

1. "Wow" the customer, thereby justifying higher prices; or,
2. Be a low-price (and thus low cost) competitor.

Walmart has revolutionized the retail industry, and made many companies either shift strategic focus or close their doors. This discussion question is large in scope so as to spark interesting discussion. Your response will focus on one of the following:

1. How can Walmart offer such low prices and still make large profits? Is everything they do completely ethical? What can other companies learn from this?
2. Discuss another company that has used price to capture large markets and still retain profits. How have they done this?
3. Discuss a company that demand premium prices that customers are willing to pay. How do they do this?