Wal-Mart Marketing Strategy

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.

Wal-Mart is one of the world's greatest assets to most people. It provides consumer's a place they can go to virtually get anything they need from, car repairs, to groceries, prescription's, even the latest toys and electronics. With all that said, this paper relates to the different forces in business that affects business: competitive, economic, political + legal + regulatory, technological, cultural + social, demographic, and natural forces. Although there are technically seven we are going to focus on competitive, political, technological, and natural forces.

The generic strategy that Wal-Mart employs is mainly a low-cost leader. This is evident by the company’s purpose: “saving people money so they can live better”. Wal-Mart believes that having a lower price matters to their customers. They continuously seek to reduce costs throughout their company, which will in turn reduce costs for

Marketing in today’s day and age has become much more complex. Stores have many different strategies to appeal with its consumers. Whether it means concentrating on convenience, a particular product, or a certain price, everything is adjusted to the customer’s preference. Focusing on the consumers, Walmart, Shoprite, and Walgreens all have different marketing strategies in terms of sales, sense appeal, and convenience. Did you know that even if Walmart doesn’t have the lowest price, they will match it and pay the difference?

Wal-Mart 's growth in the United States’ market has sparked increasing debate about the economic impact of its expansion. As a contribution to this debate, Wal-Mart commissioned Global Insight to undertake an independent research effort to analyze this issue. The goal of this research was to independently and credibly document the national- and local-area impacts in terms of jobs, wages, prices and consumer.

The development of the Internet and more specifically the business website has seen brand recognition by consumers escalate to never before seen heights. Because of this brand recognition, it has become important for businesses to design their websites to reflect their overall marketing strategies. This is especially important in the retail world. All retail businesses have a similar overall marketing strategy of generating sales and retaining the customer for future sales. Most of the retail giants still greatly rely on the success of their brick and mortar stores to turn a profit. However, internet sales for these brick and mortar stores have increasingly risen over the last few years to compete with the retail stores like Amazon that are strictly internet based businesses. Brick and mortar retail stores, such as Walmart, Target, Kmart, and Nordstrom, have each designed their websites to reflect the overall retail marketing strategy as well as the individual marketing strategies that have made their brick and mortar businesses successful.

The key facts and critical issues in the Wal-Mart Revised Its Marketing Strategy, is that Wal-Mart must do better with their pricing. Wal-Mart is declining sales and reducing profits. If Wal-Mart wants their loyal customer to return, things need to change. Wal-Mart has been ranked the number one non–oil company on the Fortune500 for the past nine years (Huang, Hansen, Anderson 2012). Critical issues are that the CEO is looking at other grocery chains. Wal-Mart promise to keep its everyday low prices. The company is looking to increase its promotion. For example, radio advertising increase, radio messages, and invest more in social media. Some key facts are Wal-Mart competitors are trying to compete. The company has even change their shelf space

In the United States the southern states generate the most income when Behavioral Segmentation for Wal-Mart is changing. In the past the behavior pattern for customers were that they wanted low prices but now the focus is moving to customer that not only want low prices but also value seekers. After a recent research Wal-Mart has now considered that they have three types of customers; customers with low income, customers that are wealthier but love deals, and customers that like low prices. This being said Wal-Mart will now add to its product line to cover all aspects of its customer by now having an assortment of brand names to their

Target uses a network of distribution centers, third 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; Savannah, Georgia; Lacey, Washington and Suffolk, Virginia to receive overseas suppliers’ shipments.

Founded in 1962 by Sam Walton, Wal-Mart followed an amazing pattern of success and growth, eclipsing all other U.S. department store retailers by the early 1990’s. In early spring 2001, Wal-Mart enjoyed a huge market capitalization of over $230B, which was down from highs of nearly $300B in early 2000. Wal-Mart Stores, Inc. is the world 's largest retailer and the largest company in the world based on revenues, ignoring profits (income), assets, and market capitalization. In the fiscal year ending January 31, 2002, Wal-Mart had $219 billion in sales and $6.6 billion in net income. It employs over 1 million people in the United States at 3,400 stores and 1.4 million people worldwide at 4,500 retail units in 10

Wal-Mart was founded in 1962 by Sam Walton in Roger, Arkansas. Wal-Mart has 4,100 stores and clubs in the U.S. and a total of 7,300 unit’s world wide. It employed about 2 million associate’s world wide and approximately 1.4 million in the United States. Wal-Marts average annual total revenue rate was slightly more than 10% for the three years from the fiscal year ending 2006 to the fiscal year ending 2008. They also had a stock split of 100 %; they saw this split 11 times during the periods of 1971 through 1999. They have received numerous awards and were ranked 5th in Fortune magazine’s “Global Most Admired All-Stars” as the third most admired company in America (Wal-Mart, 2008).

According to a report by Retail Info Systems News (2013), Wal-Mart is currently redefining the next generation of retail growth and is the best-positioned retailer to win at the convergence of digital and physical retail. In fiscal 2015, the company plans to continue to grow the multi-format portfolio. The core supercenter fleet serves the stock-up trip and accounts for the majority of the market share leadership. The rollout of Neighborhood Markets to serve the quick-trip needs is being accelerated as well as the pilot of Wal-Mart Express focusing on the rural quick-trip. Neighborhood Markets and Express deliver convenience and customer access to fresh foods, pharmacy and fuel. Overall, Wal-Mart plans to add between 21 and 23 million retail square feet, representing between 385 and 415 units

To be the world 's largest low cost store that carries all types of merchandise for all possible consumers.

Wal-Mart Stores Inc. helps individuals around the globe spare cash and live better - at whatever time and anyplace - in retail locations, online and through their cell phones. Every week, more than 245 million clients and individuals visit our almost 11,000 stores under 65 flags in 28 nations and e-trade sites in 11 nations. With financial year 2015 net offers of $482.2 billion, Wal-Mart utilizes 2.2 million partners around the world. (Wal-Mart Corporate) Wal-Mart is a superpower in the business world and has been that way for 50+ years. Understanding how it got to this point and how it has maintained its successful business model starts with its

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 is one thing to identify your “target market” and another to satisfy them. Walmart’s credo is, “save money, live better” this summaries their target market, the lower-middle class and the poorer. (Low income consumers). Walmart is the only retail