Question

The dominance of Walmart can be attributed to Sam Walton's realization that:

1) most of any product's cost gets added after the item is produced.
2) consumers desire great selection and are willing to pay higher prices to obtain that selection.
3) most consumers prefer to complete all of their shopping in one store to minimize their overall shopping time.
4) most consumers would prefer to shop in large stores rather than small stores as they believe that larger stores offer higher customer service.
5) the company's primary focus should be on its profits.

Answer 1

The dominance of Walmart can be attributed to Sam Walton's realizations about consumer preferences and cost structures, allowing the company to offer low prices, a wide selection, and a convenient shopping experience.

Step-by-step explanation:

The dominance of Walmart can be attributed to Sam Walton's realization that:

1. most of any product's cost gets added after the item is produced
2. consumers desire great selection and are willing to pay higher prices to obtain that selection
3. most consumers prefer to complete all of their shopping in one store to minimize their overall shopping time
4. most consumers would prefer to shop in large stores rather than small stores as they believe that larger stores offer higher customer service
5. the company's primary focus should be on its profits

These realizations allowed Walmart to develop a business model that provided low prices, a wide selection of goods, and a convenient shopping experience all in one store, catering to the preferences and needs of consumers. By understanding that consumers value convenience, variety, and competitive prices, Walmart was able to establish its dominance in the retail industry.