Retail Business Analysis: Wal-Mart Marketing Tactics
Why does a business need a marketing strategy? The basic answer is simple: to generate sales. However, the manner in which a business goes about developing its marketing strategy can differ significantly from one business to another. In order to understand what type of marketing strategy works best for a certain company, one must first understand the basics of each specific strategy along with viewing examples of how these types of strategies have worked for companies in the real world. In order to view how the major marketing strategies are at work in a real-world scenario, one can look at the company Wal-Mart to see how both the generic marketing strategy and the segmentation strategies have been implemented in order to garner more sales, and in viewing this implementation, one can assess room for improvement in terms of marketing the retailer's product line.
Marketing Strategies within Wal-Mart
Wal-Mart operates with the use of two of the three main generic marketing strategies, both of which have proven successful. These generic strategies in marketing outline the three main strategic paths for a company to achieve and maintain a competitive advantage, including: "cost leadership (low production costs), differentiation (providing...
Wal-Mart Marketing Mix Wal-Mart Stores (|NYSE: WMT) closed it latest fiscal year with $103.8B in revenues, growing 4% over the previous fiscal year (WalMart Investor Relations, 2012), a remarkable accomplishment given the recessionary climate of the U.S. And other westernized nations. Wal-Mart's ability to withstand economically challenging times is directly linked to how well they synchronize their product, pricing, promotion and distribution strategies using an extensive information systems architecture (Wang, 2006).
Wal-Mart's Competitive Advantage 2003 Wal-Mart stores are the largest retailer of discounted products across the globe with numerous superstores primarily in small towns throughout the United States. It consists of discount stores, supercenters, and neighborhood markets. About 75% of its stores are in the U.S. And due to awakening of globalization; Wal-Mart is also expanding in global markets. (Wal- Mart annual report, 2003) Nature of competitive strategy According to Daniel MillSap,(2009), every business
Bargaining power of customers: Our main question here is whether Wal-Mart customers can walk away from buying a product at Wal-Mart and find it cheaper elsewhere. For the most part, the answer is no. Wal-Mart has built its reputation by providing products at a considerably lower price than its competitors (Is Wal-Mart good, 2005). Certainly, customers can try to find lower prices at other retailers; and the proliferation of the
Wal Mart Organizational Analysis WalMart Stores (NYSE: WMT) is the worlds leading mass merchandiser with global supply chain partners and a logistics network that rivals United Parcel Service and Federal Express. The market structure of the global mass merchandising industry continues to favor those retailers who have deep expertise in logistics, supply chain, pricing and vendor management (Zhu, Singh, Manuszak, 2009). WalMart excels on all of these dimensions, which provides international
Management Wal-Mart's challenges in the Global market Wal-Mart as the world's leading retailer has been spreading very fast extending its power across the world market. This began with the nine countries in South America, Asia, and Europe. This expansion is likely to extend even in the near future. As the company attempts at penetrating the hypermarket culture in different countries, it has encountered a battery of severe problems in the process of
As part of the research triangle, Raleigh has a significant portion of its population that fits the target market. For the Farmery to succeed, it only needs to capture a small portion of the market share. This is especially true because the store has a small footprint, and has the flexibility to set up on vacant lots without the costs of either renting or developing fixed real estate. The
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now