Environmental Factors Affecting Walmart's Marketing Strategies

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Factors Affecting Walmart Marketing Strategies Walmart is the best-known retail stores in the world. It has grown from a single-family store opening in 1967 to becoming the nation’s number one seller in 1990 (Our History, n.d.). It now earns in the billions of dollars each year and continues to grow. The success of the store in part is due to the marketing strategies used by the company. The focus of this paper will be on the internal, micro and macro environmental factors that have affected Walmart. Internal environmental factors are those factors which are controlled inside the company. These factors include policies and procedures, employees and the company’s capital assets and materials (Marketing Environment Definition Factors & Examples, 2016). Walmart now employees over 2.3 million people worldwide and 1.5 million people in the United States (Company Facts, n.d.). Through its employee training and the company’s policies and procedures, one of the best marketing strategies Walmart uses is through its employees. By training their employees in delivering the best customer service possible they create an environment where shoppers are drawn to the store in part due to the treatment delivered by the employees. Another internal environmental factor Walmart has in their favor is the variety of materials or products they offer. Customers like to shop in a store where a variety is offered to them at the same prices. Micro environmental factors create one of two parts of the external environment of a company. Micro environmental factors include suppliers, resellers, customers, competition and the general public (Marketing Environment Definition Factors & Examples, 2016). Market competition has played a tremendous role in Walmart’s success. The idea of selling the same product at a lessor price is what put Walmart on the proverbial map of stores and according to the company’s financials, continues to put them in the number one ranking of retail stores. Walmart is not always the most convenient choice for some especially if it is just one item needing to be purchased but in a general comparison, it is the smartest choice when it comes to saving money. The public has the power and ability to make a

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