Introduction
We’ve all heard those commercials with the companies’ slogan; my personal favorite is “better ingredients; better pizza, Papa Johns” I love pizza. Like wise large retail discount stores and chains such as Wal-Mart, Target and Kmart for example all have a company mission, vision, and value’s statements which help them to perform at optimum levels of operations. Missions, vision and value statements: the overall goal is to provide the organization with their purpose; which is the case for these retail chains in the U.S. The mission, vision and value statements aid each chain to define their brand, culture, and consumer relations. Each retail chain differentiates them-selves by providing unique good and services to their consumers, more-over their mission, vision and values statement must also be unique, enabling them to stand out form each other. The big players in the discount retail market are Wal-Mart, Kmart, and Target. (retailindustry.about.com)
Supporting Paragraphs Both mission and vision relates to an organization’s purpose and are typically communicated in some written form. Mission and vision are statements from the organization that answer questions about which we are, what we value, and where we’re going. (Coffman, Freire, Heaver, & Soltis, 2002) Mission statements are often longer than vision statements. Sometimes mission statements also include a summation of the firm’s values. (Cady, Wheeler, DeWolf, & Brodke, 2011, p. 70) Values are the beliefs of an individual or group, and in this case the organization, in which they are emotionally invested. A vision statement, describes what an organization’s purpose and aspirations will possibly be in the future. The mission statement gives meaning and purpose to the organization’s vision. The strategy should flow directly from the vision, since the strategy is intended to achieve the vision and thus satisfy the organization’s mission. (Horn, 2014, p. 5) In general, a vision statement is a short tag line that consumers will remember; they have the same effect as a jingle. In the case of Wal-Mart’s tag-line version of its vision statement is “Save money. Live better.” Target’s version is “expect more, pay less”. Similarly, K-mart’s tag-line is; "there's smart, then there's K-mart." (retailindustry.about.com) These types of stores generally cater to customers who value convenience, and these retail giants offer a wide variety of low cost goods and services within one central location. Mission and value statement helps these companies to create a particular branding; this helps the consumer to distinguish between the three companies. Each company has achieved this in different ways; Wal-Mart offers huge stores with consistently low prices, Kmart has partnered with designers such as Kathy Ireland and Martha Stewart, and Target has become the place to find fashionable items and brand names, such as “Mossimo”, at low prices. (retailindustry.about.com) Wal-Mart’s Mission / Vision Statement: Both Wal-Mart's mission statement and advertising slogan convey the same message; “people, saving money, and a better life.” In order to fulfill its mission, Wal-Mart has developed some unique, policies, principles, rules, processes and procedures, the sum total of which form the Wal-Mart stores corporate culture. (retailindustry.about.com) Target Mission / Vision Statement:
Target’s corporate mission statement focuses its leaders and employees on fulfilling the promise of the Target brand. Specific priorities and decisions of Target leaders and employees are also guided by four major Target values, which the company refers to as “commitments." (retailindustry.about.com) Kmart’s Mission / Vision Statement:
Their committed to improving the lives of their customers by providing quality services, products and solutions that earn their trust and build lifetime relationships. Even after Kmart was purchased, its brand remained intact, and its vision for serving its customers stayed unique. (retailindustry.about.com)
The Five Key Pillars of Kmart’s Strategy are:
1. Creating lasting relationships with customers by empowering them to manage their lives.
2. Attaining best in class productivity and efficiency.
3. Building our brands.
4. Reinventing the company continuously through technology and innovation.
5. Reinforcing “The SHC Way” by living our values every day" (Floyd, 2002) The war between Wal-Mart, Target, and Kmart for the consumers' dollars, the prize goes to the retailer with the best and the most bargains. (Conover, 2012) According to a recent survey Wal-Mart came out on top with having cheaper prices and larger selection of goods and services is offered to its consumers. Wal-Mart holds its own in other realms that frugal and savvy customers consider important, convenience, a pleasant shopping environment, and products they consider a good value. (Conover, 2012). When a study conducted at all three retailers to compare prices the results showed that when 30 identical and like items, including clothing, electronics, groceries, health and beauty supplies, home goods, and toys were purchased, the bill came to $1,776.15 at Wal-Mart, $1,866.10 at Target, and $2,092.82 at Kmart. (retailindustry.about.com) on price alone Wal-Mart had the lower prices. This is due to the fact that Wal-Mart's price-matching policy doesn't require consumers to show a competitor's print ad in order to pay a lower price. Price is only one factor among many others that consumers look for when hunting for a bargain. The prices are may be slightly higher on many items at Super Target, but consumers seem to like the way Target has a reputation providing quality goods and services at a reasonable price. Target is know for their line of fashionable clothing, which is popular amounts all age groups. Wal-Mart carries a more basic selection of clothing, including heavy work clothes such as coveralls and thermal flannel shirts. Kmart showcases a couple of celebrity lines, but its offerings didn't register with consumers. (Conover, 2012) Atmosphere plays an important part according to Coffman, 2002. The atmosphere varies by location, generally shoppers perceive Target as well-organized, tidy, and calm. Wal-Mart strikes some consumers as frenzied and crowded, a tad overwhelming, and occasionally in need of a quick cleanup, according to research. Kmart disappoints with under stocked shelves, messy displays, poor signage, and generally scruffy facilities. Wal-Mart and Target set the standards for adequate employees in the facility that can be somewhat friendly as well as accommodating when approached by a consumer. Kmart, on the other hand does not meet the consumer standards. Consumers described Kmart as being vastly understaffed, workers that were present didn’t seem egger to consumers during their visit, and a limited supply of stocked shelves and products variety and availably did not cross over well with customers. One common irritant for consumers at all three discount retailers were long waits and other problems at checkout. (Conover,2012)When the companies were compared to their mission, vision and value statements they were somewhat lacking in areas, but in general stuck to their core values to provide quality good and services to the general public.

Conclusion In conclusion, Wal-Mart and Target have strategically planned how to provide their customers exceptional valued customer service. Both retailers have done a SWOT analysis and have tapped into knowing how to maneuver in their types of market using a planned strategy. We define capabilities not as “people capabilities,” but as the interconnected people, knowledge, systems, tools and processes that create differentiated value. (Horn, 2014) Kmart, the least successful of the group, is struggling to define its strategic plan, describing itself as a “mass merchandising company that offers customers quality products through a portfolio of exclusive brands and labels.” Yet, that definition could describe just about any retailer. (Schambers, 2014) Wal-Mart customer, have come to expect and they will save money and feel catered to by friendly employees. At Target, consumers expect to have the latest trends in fashion at a reasonable price feeling they left the store with quality products at a bargained price.
What, then, is Kmart’s niche? The lack of a clear strategic plan on how to navigate in their market type has cost Kmart its customer. SWOT analysis would help Kmart to focus on their areas of strengths and areas of weakness. It would help them to know how to reach their targeted market. Without a clear mission, vision, and capabilities to support it, a company cannot achieve the coherence it needs to truly excel at what it does, and thus outpace competitors. (Coffman, Freire, Heaver, & Soltis, 2002, p. 19)

Reference:

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Coffman, R., Freire, A., Heaver, S., & Soltis, J. (2002). The Discount Retail Industry: Wal-Mart vs. Kmart. 1-21.

Conover, R. (2012, November 19). Target, Wal-Mart, and Kmart: Who has the best deal? Retrieved November 16, 2014, from http://www.today.com/money/target-wal-mart-kmart-who-has-best-deal-6C9676427

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