Marketing Mix Of Walmart Store Inc.

849 WordsJun 7, 20164 Pages
Main Post E. Jerome McCarthy in the 1960s – introduced the marketing mix of Product, Price, Promotion, and Place to marketing education (Yudelson, 1999). The concept constitutes the range of incorporated decisions made in terms of marketing to ensure success for related business entities. Typically, these decisions are made in four vital areas known as the 4 Ps of marketing, that is – product, price, place, and promotion – issues like, the variety of merchandise to be marketed, brand name, pricing, advertising, publicity, geographic coverage, retailing, and distribution - are covered therein (marketing mix, 2007). With an appreciation of the term marketing mix in mind, in what follows the author endeavours to examine each component of the marketing mix and how each element contributes to the success of Walmart Store Inc. Product Burnett (2008) imparted that whatever is offered by a business entity to provide customer some form of satisfaction is known as a “product” which can be tangible or intangible. It can be a solitary item, a mix of products, a blend of product-service, or several goods and services that are related (p.152). In terms of Walmart, Ferguson (2015) imparted that the retailing giant attracts shoppers by furnishing convenient and effective service. For instance, Walmart’s sales associates are trained to effectively help consumers in finding the products they require. Convenience is attained as Walmart provides a massive variety of merchandises in its

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