Analysis of Innovation Strategies for Walmart's Customer Satisfaction

This research project investigates the critical role of innovation in achieving customer satisfaction and ensuring long-term market sustainability, using Walmart as a case study. The study addresses key issues such as the impact of innovation on customer satisfaction, Walmart's innovation strategies, and the relationship between innovation and its market position. The methodology involves a literature review, analysis of industry size and major competitors, and strategic analysis of Walmart's current position. The report explores various innovation methods, including those related to customer experience, technological advancements, and operational efficiencies. The findings highlight the importance of innovation for retaining customers, increasing productivity, and maintaining a competitive edge in the retail sector. The report concludes with recommendations for Walmart to enhance its innovation strategies and improve customer satisfaction, providing insights for future studies and addressing research limitations.

Research Project
1

ABSTRACT
Main purpose of conducting this dissertation is to identify the role and importance of
innovation to achieve customer satisfaction and to sustain in market for long run. Innovation
is important and beneficial for achievement of long term growth and success of company
within predetermined time period. In order to conducting dissertation, there are some issue or
problems faced by the researcher such as time and cost. To overcome this issue investigator
need to develop an action plan and future study. There are various methods such as primary
research, secondary research, research design, philosophies, approaches and many other are
used to collect accurate amount of information from the respondents. Therefore, all these
methods are play important and vital role in accumulation of accurate data about the research
topic. Along with this, innovation is more beneficial and significant for the each and every
organisation to increase their productivity and profitability. Therefore, innovation is more
essential and important for Walmart by increasing satisfaction among customer's and also
assist an organisation to retain long term position at marketplace. Different number of
methods are used for collecting accurate data and information about the topic such as
secondary source, philosophies etc. Secondary source was effective method for company to
collect accurate and relevant data as well as it also provided effective outputs to do their
business operations in more successful and effective way. Walmart was a chosen organisation
for this project and they developed innovation at workplace with the purpose of increasing
customer's satisfaction and maintaining strong and long term position at market. Main
purpose was selecting Walmart company for this research project is, it is a retailer and
provide their product and services at different counties.
2

Table of Contents
ABSTRACT...............................................................................................................................2
ACKNOWLEDGEMENT.........................................................................................................6
INTRODUCTION......................................................................................................................7
1.1 Background of the study................................................................................................7
1.2 Rationale of the research..............................................................................................8
1.3 Research aim...................................................................................................................9
1.4 Research objectives........................................................................................................9
1.5 Research problem from the case...................................................................................9
1.6 Research questions.......................................................................................................10
1.7 Methodology.................................................................................................................10
1.8 Structure of the work...................................................................................................10
1.9 Conclusion.....................................................................................................................11
CASE BRIEF AND A REVIEW OF THE RELEVENT LITERATURE...............................12
2.0 Introduction..................................................................................................................12
2.1LITERATURE REVIEW ON RESEARCH QUESTIONS......................................12
What are the main features of innovation strategies in Retail industry?..........................12
What is the relationship between innovation and customer satisfaction.?.......................14
What is meant by innovation ?.........................................................................................15
What are the strategies to stay long run sustainability and improve customer satisfaction
through innovation methods?...........................................................................................16
2.2 Industry size..................................................................................................................18
2.3 Growth rate...................................................................................................................19
2.4 Major players or competitor's analysis......................................................................19
2.5 Situation Analysis.........................................................................................................20
2.6 Proposed plan for analysis...........................................................................................20
2.7Conclusion......................................................................................................................21
METHODOLOGY FOR STUDY............................................................................................22
3

3.0 Introduction..................................................................................................................22
3.1 Explanation to research philosophy, design, approach methods.............................22
Research Approach........................................................................................................24
3.2 Secondary market research.........................................................................................25
3.3 Reliability......................................................................................................................26
3.4 Validity..........................................................................................................................26
3.5 Ethical issues.................................................................................................................27
3.6 Conclusion.....................................................................................................................27
RESULTS AND DISCUSSIONS............................................................................................27
4.0 Introduction..................................................................................................................27
4.1 Strategic analysis..........................................................................................................28
4.2 Assessment of current position....................................................................................31
4.3 Integrated assessment of analysis by generating ideas and giving alternative
solutions...............................................................................................................................32
4.4 Selection of strategies for success................................................................................32
4.6 Solutions to research problems...................................................................................33
4.7 Conclusion.....................................................................................................................33
CHAPTER 5: CONCLUSION AND RECOMMENDATION................................................34
5.0 Introduction..................................................................................................................34
5.1 Conclusion.....................................................................................................................34
5.2 Recommendation..........................................................................................................34
5.3 Decision on action plan................................................................................................35
5.4 Need for the future study.............................................................................................36
5.5 Research Limitation.....................................................................................................36
REFERENCES.........................................................................................................................38
Books and journals...............................................................................................................38
4

5

ACKNOWLEDGEMENT
I might want to stretch out healthily on account of my supervisor Mr Roger Telfer who
allowed me this chance to work upon this fascinating point as a venture task. Further, a
sincere on account of Dr. Rajendra Kumar who constantly urged me to work upon this
venture at first from the proposition organize and finish it effectively.
A major on account of my folks without whose help, the undertaking couldn't have been
done. Much obliged to my companions who constantly upheld me guided me so every single
critical viewpoint is canvassed in the venture. At last, I might I want to than my cousin,
helping me in making this task an effective one.
6

“To Analyse the role of innovation to achieve customer satisfaction and to sustain in
market for long run. A case study on Walmart.
INTRODUCTION
Business is the place where number of people are working in order to attain goals and
objectives i.e. business expansion and profit earning. There is requirement of proper planning
and then policies must be conveyed to employees. This helps to perform business operations
in systematic manner. These days there is much competition in industry, so it is essential to
make strategies which are effective and significant for maintaining good image in industry.
Innovation is one of the essential component which assist in coming with new things in
market.
Innovation refers to modifications and change to an existing idea, service or product
(Aaker, 2012). This report is based on Walmart which is an American multinational retail
corporation. It has various outlets in different parts of country. This association was
established in 1962 by Sam Walton. Walmart is big brand in retail industry in terms of
turnover and revenue. For this, manager play vital role in developing innovative tools and
techniques in organisation. Thus, it assist them in achievement of long term goals and
objectives in given time duration.
Sensing devise to shopping cart, online business expansion, detecting machines which
detects actions of users, etc. are some examples of innovation performed by Walmart. It is
important for company to analyse cost of innovation and measures has to be taken in order to
reduce it. Innovation is continuous process carried out through market analysis and use
resources which are suitable and readily available (Aarikka-Stenroos and Jaakkola, 2012).
1.1 Background of the study
Walmart is the super market discount chain deals in electronics, home furnishing,
clothing, health and beauty, craft supplies, grocery, jewellery, toys, footwear, etc. this
organisation was established by Walton family. This organisation was established in 1962 but
incorporated in 1969, 31st October. Walmart has around 11718 stores in 28 different countries
and operates under various 59 names. It is headquartered in Bentonville, Arkansas. In retail
sector, there are many competitors of Walmart such as ASDA, TESCO, ALDI, Sainsbury,
Kingfisher, etc. There are around 3.3 million employees under this brand. Walmart is the
world's biggest and well-established organisation by revenue—over US$500 billion, as per
the statement of Fortune Global 500 list in 2018—as well as the sizable private employer in
the globe with 2.3 million workers. It is a publicly traded family-owned organisation, as the
7

business is controlled and managed by the Walton family. This business was listed on the
New York Stock Exchange in year 1972.
Walmart has good brand image in industry because managers of organisation analyse
external factors and modify their goods and services accordingly. They accept changes which
helps to satisfy customers’ needs and make long term relations with customers. As there is
competition in retail sector, so it is essential for managers of Walmart to come with new and
innovative approaches. Innovation is an idea which is different from others and this must be
time and cost effective. In business terms, innovation must be beneficial for customer
satisfaction and provides edge over competitors (Abdulai Mahmoud and Hinson, 2012). If
innovation is not done in product and services, then there are possibilities that Walmart may
run out of competition and this makes their brand out of industry. Hence it is clear that
innovation is important to be compatible in industry.
As compared to initial days, there is much innovation, so role and responsibility of
research and development department gets enhanced. It is important to analyse market,
customer demand, competitor's policies and then accept new approaches for working.
Walmart is the organisation which take feedback from customers in order to know
perception. In case of negative outcome appropriate measures has to be taken. In order to be
long run in industry, it is important to improvise working style through which there is ease in
performing commercial activities and employees also work with latest technique which keeps
them satisfied. This helps to maintain good and long term relations with employees and
reduces possibilities of labour absenteeism and turnover.
1.2 Rationale of the research
Main reason behind conducting this research is to analyse role of innovation in
customer satisfaction and to sustain in industry for long run. There is requirement of proper
planning while innovating new ideas in market (Abdulai Mahmoud and Yusif, 2012). There
are possibilities of failure as well, if innovation is not up to the mark. Walmart operates all
around the world and there is difference in demand as per change in culture, so this factor
must be considered by managers of Walmart. This increases possibilities of getting positive
outcome from innovation.
In innovation there is requirement of resources such as time, cost, employees,
technology, etc. so managers must plan in effective manner. If innovation is costly, then this
affects profits of organisation. Innovation can be done in working style which ease in
performing commercial activities. This reduces waiting time of customers and provide
satisfaction. External environment of business dynamic, so it is essential to accept changes.
8

These days’ consumer wants latest and good quality product because consumers are brand as
well as quality conscious. Hence in whole innovation, quality aspect must also be considered.
1.3 Research aim
It is to identify one of the main and important part of the research because entire
research activities is based on research aim (Ahmed and Rafiq, 2013). It is made with the
help of two variables one is dependent and other one is independent. Both variables play
essential and vital role and help an enterprise to achieve better results. One of the foremost
aim of this research dissertation is “To analyse the role of innovation in achieving customer
satisfaction and to sustain in market for long run”. A case study on Walmart.
1.4 Research objectives
It is another essential and foremost aspect of the dissertation which is based on
research aim. It is divided into two variables such as dependent and independent. In research
aim role of innovation is independent variables and higher level of customer satisfaction and
business reputation is dependent variables. In this customer satisfaction and long term
position of company is mainly depend on innovation. There are some important and essential
objectives which are determined as under:
 To explore the general relationship between innovation and customer satisfaction..
 To evaluate the role of innovation in Walmart.
 To develop the link between innovation and level of customer satisfaction in
Walmart.
 To recommend strategies for Walmart to stay the long run sustainability and improve
customer satisfaction through innovation methods.
1.5 Research problem from the case
In this case, innovation is more significant for the Walmart to achieve maximum level
of customer satisfaction and keep long term goodwill at marketplace. In order to develop
innovation in the organisation, company face some issue such as employee's are not
empowered to innovate, lack of collaboration, lack of diversity, missed connections with
customers and many other. All these are effect on performance and productivity of company
in a direct manner (Auka, 2012). Role of innovation is important and essential part for the
Walmart to attract large number of customers and to sustain in market for long time period. It
is beneficial for the growth and success of an enterprise but some time changes in technology,
products, services and many other activities hinder on employee's performance and
productivity. It will also impact on the trust and loyalty of customer's. Thus, changes in the
business products or services are one of the main issue for the business.
9

1.6 Research questions
This part of the research is mainly based on research objectives. It is reffered as a
fundamental and essential core of a dissertation, study, project or review of literature. It
emphasis the study, analysis the methodology and lead entire stages of reporting, enquiry and
evaluation. There are some main research questions which are shown as under:
 What is the importance of innovation in maintaining long run sustainability in
industry?
 What is the role of innovation in customer satisfaction?
 What is the relationship between innovation and customer satisfaction?
 What are main features of innovation strategies in Retail sector?
1.7 Methodology
Methodology is to identify an effective and essential process of collecting data and
information so that accordingly results can be presented with conclusions (Baker, 2014). It is
main part of the research which has different methods, process and instruments to complete
each and every activities of research project in given time period and cost. The methodology
may include survey, interviews, publication research etc. It could also cover both types of
information such as historical and present. Therefore, methodology in research play vital and
critical role for completion of dissertation successfully and timely.
1.8 Structure of the work
The structure of the work or dissertation is based on five chapter such as introduction,
literature review, methodology, results and discussion, recommendation and conclusion. All
these play critical role for completing each activity of research in allotted time and cost. In
introduction part, it includes entire information related to the business, topic and its
importance to an organisation. Under methodology, different methods are used to collect
information and data from the respondents (Bhattacharyya, 2012). Literature review is a main
part in which different number of writers and authors are given their point of view about
research topic. On the other hand, results and discussion are foremost element of research in
which investigator prepare a questionnaire by using primary source. Beside this, researcher
ask different questions to the selected respondents about topic, its advantages and
disadvantages to the organisation. Lastly, conclusion and recommendation includes the
results about response of respondents and help the research users to get a complete idea about
the topic (Bianchi, Pike and Lings, 2014). There are certain recommendations also provided
to the company how to achieve better outcomes by applying innovation at their workplace.
10

1.9 Conclusion
From the above mentioned information, it can be concluded that introduction chapter
of the research is important for the researcher. It helps them to identify research aim,
objectives, questions, rational, methods, background of the company and many other
activities. There is different issue of research which is faced by the investigator such as time,
cost, collection of relevant information and many other data about the topic.
11

CASE BRIEF AND A REVIEW OF THE RELEVENT LITERATURE
2.0 Introduction
In today's business scenario, innovation has led opportunities for development of
customer services through more and more involvement of technology role to make services to
customer in era manner. Cost & time saving is the major result of innovation over effective
customer services. The data of year 2017 has revealed 22 percent growth of innovation has
seen in Walmart, when they uses artificial intelligence to manage & hold customer queries to
deliver best of their ability. Innovation has been resulted in solving customer queries or issues
in 24 hours duration. This has been possible through artificial intelligence such as mobile
apps based feedback or post service after delivery. Hence, it needs to be continue for longer
period of time.
Case brief is mainly related with the Walmart which is an American multinational
retail organisation that operates different chains of discount department stores, grocery stores
and hypermarkets. (Bowie et. al., 2016). Therefore, innovation is more significant and
beneficial for the company to attract large number of customers and accomplish better
outcomes within predetermined time period.
A literature review surveys scholarly articles, books and many other sources relevant
and applicable to a specific issue, theory, area of research and so on. It gives a detail
description, critical evaluation and summary of these works in link to the research issue being
investigated. Review related literature is to identify as an evaluative report of data. The
review should summarise, describe, clarify and evaluate this literature (Chen and Tsou,
2012). It should provide a theoretical or historical base for the study and assist the author to
determine the nature of their research.
A literature review refers to a scholarly paper which covers the actual knowledge considering
substantive evaluation, as well as methodological and theoretical contributions to a research
topic (Kim et. al., 2012). In addition, it is a secondary source of data collection and do not
report original and new experimental work. This section of the dissertation is based on
research objectives in which different number of authors and writers are given their opinion
about the topic of research
2.1LITERATURE REVIEW ON RESEARCH QUESTIONS.
What are the main features of innovation strategies in Retail industry?
Retail industry is the most significant sector of economy because it has provided
different job opportunities to the unemployed people. Innovation strategy is refer as an
12