Retail business analysis wal mart marketing

Wal Mart, Market Segmentation, Idea Analysis, Global Leadership

Excerpt from Dissertation:

Retail Business Evaluation: Wal-Mart Promoting Tactics

Why does a business need a marketing strategy? The essential answer is not hard: to generate sales. However , the manner in which a business goes about developing their marketing strategy may differ significantly from one business to a different. In order to understand what type of web marketing strategy works best to get a certain business, one need to first be familiar with basics of each specific strategy along with viewing examples of how these types of strategies been employed by for corporations in the real life. In order to look at how the key marketing strategies are at work in a real-world scenario, one can go through the company Wal-Mart to see how both the universal marketing strategy as well as the segmentation tactics have been implemented in order to get more product sales, and in viewing this implementation, one can determine room to get improvement with regards to marketing the retailer’s products.

Marketing Strategies within Wal-Mart

Wal-Mart operates with the aid of two of three main general marketing strategies, both these styles which have verified successful. These kinds of generic approaches in promoting outline three main tactical paths for the company to accomplish and maintain a competitive advantage, including: “cost leadership (low production costs), differentiation (providing for an underserved client need), and focus (market size and scope)” (Haley, 1995, l. 62). First, Wal-Mart stands out in making use of cost leadership, or preserving its place as low price leader amongst competitors. Wal-Mart is able to make or import its products by prices significantly lower than contending retailers, plus the company can then be able to sell these products inexpensively in order to create a profit. Dartmouth’s Tuck Institution of Business (2002) remarks that seeing that Wal-Mart’s starting point as a company, its marketing strategy was to “guarantee everyday low prices as a way to pull in customers, while traditional discount retailers relied only on advertised ‘sales'” (p. 2). This strategy has always been much the same since time has gone on, and Wal-Mart has never wavered in its dedication to keep prices below those of additional retailers.

Following, Wal-Mart offers succeeded in operating in its focus technique of choosing to compete within a broad range in the mass market. Although some firms choose to “compete in a more slim targeted or niche market, ” Wal-Mart is now highly good in expanding its product line and customer-focus to a much larger scale (Mattson, 1997, p. 449). Wal-Mart further utilizes segmentation strategies or perhaps those that “design a marketing plan to appeal