Business principles | Final paper | | Deborah kwaghko | 12/12/2011 | I selected WALMART and fully discussed 5 of the 8 marketing strategies for groceries, apparel and electronics. Also discussed is its credo/code of ethics and lastly its social responsibility. | 1. TARGET MARKET: As discussed, target market is a group of potential customers in which a company directs its marketing efforts. A company should always anticipate consumers’ needs and work towards fulfilling these needs. It
This is a great marketing strategy, because it doesn’t allow the consumer to feel that they are walking throughout the store without constant assistant. There are also employees who job is to provide the consumer with samples of products throughout the store on a daily basis, this allows the consumer to try the product before they buy it (Sang-Hung, 2006). This marketing strategy can be used as a survey technique that measure whether the product is worth selling. Although Walmart was sold to E-mart
parties, and its online website to distribute these merchandise. Target currently has 37 distribution centers located in 22 states with more than 16000 team members. As a major competitor of Walmart, Target runs differently in Distribution. For an example, the grocery selection of Target is little different from Walmart. Target uses distribution centers to provide the grocery selection rather than uses the partner companies. On the other hand, Target uses four facilities located near ports at Rialto, California;
WAL-MART'S MARKETING STRATEGY Wal-Mart was founded by Sam Walton, the first Wal-Mart store opened in Rogers, Arkansas, in 1962. Seventeen years later, annual sales toped $1 billion. By the end of January 2002, Wal-Mart Stores, Inc. was the world's largest retailer with $218 billion in sales. Wal-Mart's winning strategy in the U.S. was based on selling branded products at low cost, which enables the lower class and middle class consumers to shop for products and save. Due to the advances in
Introduction 1 Company background and situational analysis in the context of international marketing environment 1 Impact of culture on international marketing strategy 1 Current marketing strategies of the corporation by taking into account the context of marketing research 2 Companies international market selection and entry strategies and marketing mixes 2 The influence of Electronic and digital marketing in an international context on the company’s current and future activities 2 Future directions
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
Diversity Walmart strongly believes that they do their best to promote diversity across their supply chain. Their suppliers have access to the 250 million customers who shop at each Walmart store around the world each week. They encourage diverse companies to explore different and new possibilities with Walmart. They have a network of more than 3,000 diverse suppliers, and they continue to search for new ones with industry expertise and the ambition to deliver products and services to each of their
2.2 Environmental audit of Walmart Political factors • Walmart helps the country in providing jobs and the customers has the facility of the products of Walmart • The government of every country supports the Walmart because it provides the products at the discounted price • Walmart required the large amount of capital for the development of the new store Economic factors • The customers are attracted more towards the economic goods • Walmart helps to provide the welfare support and incentives
Strengths • The market position of Walmart is very strong in the United States and in the other countries • The data mining system of Walmart is IT based • The reputation of Walmart is very strong • The marketing capabilities of Walmart are effective Weaknesses • The inbound logistics of Walmart • Walmart is multinational but its stores are limited in the world • The IT system of Walmart is expensive • Legal issues and the recession problems Opportunities • The economy of the United States is
The Relevance of Sustainability in Marketing Decision Making Introduction Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while preserving and enhancing the ability of future generations to meet their needs (Kotler & Armstrong 2012, p. 582). The aim of sustainable marketing is to satisfy the customer’s the needs and wants while also putting high emphasis on the environment and the social issues and thus