CASE INCIDENT 2 – THE YOUNGEST BILLIONAIRE (Page 238) SUMMARY Welcome to Spanx, a slimming underwear company owned by one of the youngest self-made female billionaire in the world – Sara Blakely. Before Sara turned into a very successful entrepreneur, she already confronted a great deal of disappointments. She failed the LSAT test for admission to graduate school twice. She sold fax machines door to door for 7 years before she had the idea for Spanx. Not to forget, she was rejected by every manufacturing
suppliers and other retailers to become all about the costumer too (Useem). Wal-Mart’s principal aim and most important marketing secret weapon are saving consumers’ money. That is why the company’s slogan, “Everyday low prices,” became the perfect summary for Wal-Mart’s corporate culture and business model. The retail giant owes its success to large amounts of money reduced in manufacturing expenses over the years. It is estimated that Wal-Mart helped American consumers save around $100 billion last