Hi, I am doing a research paper that's due this weekend on how and why Wal-Mart revised its marketing strategy. I have compiled a few questions of my own that will help me develop information to compose my paper. I am at a lost and hard to find additional topics or views to elaborate on the paper, so I came here to look for help. I would love your input and assistance. Thanks in advance.
A little about what i'm looking for and need to help me along my research paper:
Overall, All questions should total to a minimum of 1200 words (not including the questions itself). Each individual question does not have a specific word count, just the whole overall assignment. All wording has to be original, (no plagiarism) and provide at least 2 references with in text citations.
1. Elaborate in a paragraph how the key facts and critical issues are presented on how Wal-Mart revised it'd marketing.
2. What in the competitive environment caused Wal-Mart to rethink its marketing strategy?
3. Wal-Mart does well in a recessionary economy, will the same marketing strategy work during a thriving economic environment?
4. As CEO of Wal-Mart, would I focus more on customers that are very price conscious or would you also focus on higher margin, higher priced items that are often purchased in department stores?
1. The key facts and critical issues relating to how Wal-Mart revised its marketing strategy. Wal-Mart is faced with the prospect of declining sales and reducing profits. In this context Wal-Mart has decided to revise its marketing strategy. It seeks to consolidate its everyday low price promise. Every day low cost marketing is important to the customers of Wal-Mart. In addition, the company seeks to increase its promotions. Advertising on radio is increased. Further, the radio messages will be localized. These will be directed at specific segments of customers. Wal-Mart will invest more in social media. Wal-Mart will have Facebook pages for individual stores. The objective is to engage with the customers. There will be e-commerce and smaller stores for urban areas.
2. The competitive environment which faces Wal-Mart is such that competitors are offering products at lower than Wal-Mart's prices (1). The effect of cost cutting is so drastic that Wal-Mart is finding it difficult to keep all its shelves full. The other aspect of competition is online stores. Amaxon.com and other online stores are eating into the share of Wal-Mart through fast same day deliveries and competitive prices. The convenience of not walking into a Wal-Mart store is very attractive (3). The customers do not want to push trolleys and wait in the check out queue. The other source of competition is dollar stores. These stores are cutting into the low end customer base. Customers have found that the neighborhood dollar store is offering lower priced products than Wal-Mart. Other local stores identify the needs of the local residents and offer products that are lower priced and competitive. Wal-Mart has also targeted high end customers but its sales in the segment have not picked up satisfactorily. The customer perception of Wal-Mart is a low cost store. The positioning has not changed. Further, with the sluggishness of the economy, high end stores are not likely to pick up sales. One of the greatest thrusts of Wal-Mart had been to expand abroad, but these efforts have suffered several setbacks. For example, Wal-Mart has not met with success in expanding abroad. The reverses have led to a rethink in the US strategy. Further, there is strong competition from other departmental chain from the ...
The answer to this problem explains the new marketing strategy of Wal-Mart . The references related to the answer are also included.
Marketing Strategy: Media Plan
Look at the marketing for your favorite department store. Write an analysis describing the media plan it uses and how it achieves the marketing strategy for the store. Discuss what works effectively and what you would do differently. Describe the techniques you would use to benchmark and monitor the media plan. Search for business reports (news items in Forbes, Fortune or other mass media publication) or university case studies that discuss the department store's marketing initiatives for support or additional information about the store. Use specific examples to support your analysis.View Full Posting Details