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Price

How is a store such as Wal-Mart able to sell name brand products at lower prices than they are to be sold in any other store? What is it that gives Wal-Mart this marketing power? Especially when its employees are not usually well skilled in informing customers about their products and what there store has to offer. In my experience I have always felt Wal-Mart is a cheap store with cheap and most often chinsy products. Yet so many people are driven to shop there and more and more stores continue to be built due to Wal-Marts popularity. Does all of this motivation lay in their marketing power to sell name brand products at such low prices?

They buy their products for much less than competitors.

How flexible should the price setters be when they are considering changing their prices that are more consumer friendly?

I do not know what your mean by price setter. If you mean the people in the company that determine what they will charge and when. Pricing is a very interesting area. When one product is lowered another must offset that loss.

What considerations should the decision makers of a company take when they are deciding to change their method of production to be more price efficient?

Just because a company can pay less for a product does not mean that they will pass that along to customers.