Walmart Marketing Strategy

1485 Words Apr 17th, 2012 6 Pages
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 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
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* WIN: this means that a product has all three qualities, they are great products Walmart can offer at low prices. I.e. electronics (flat screens) prescription drugs. * PLAY: Products exists in markets where Walmart can easily compete without dominating; like clothing. Quick selling items that can be sold for a flat rate. * SHOW: These are essentials that Walmart must carry to maintain its “one stop” shopping reputation, i.e. hardware. Walmart’s alternative pricing strategy is the “everyday low pricing and discount pricing” by offering short term price cutting tactics in form of coupons, rebates and their guaranteed ‘match it’ they have successfully maintained low pricing on their products. 5. RELATIONSHIP MARKETING: In this competitive era, companies are always looking for ways to develop and maintain a long lasting relationship with customers, employees and even suppliers. Relationship marketing is two way traffic; it goes beyond just making ‘sales’ and companies are beginning to realize. Good relationship with customers is a strategic weapon for any company, this is because long term customers buy more, do referrals and give back valuable and truthful feedback. Keeping a customer requires an extra effort. According to the founder of Walmart: “There is only one boss, the customer, and he can fire
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