Walmart's Marketing Methodology
Throughout this course, you have learned about the elements of a marketing plan. This assignment will provide you with the opportunity to research the marketing methodology of an existing publicly traded company; using a publicly traded company will provide you with access to a greater amount of information to complete this assignment. As you research this company, apply the theoretical learning from this course.
Include the sections below in your marketing plan.
Introduction: Include a brief introduction of the company.
Competitive Analysis: Who are your company’s competitors, and how is each differentiated? Identify two or three strengths and two or three weaknesses of your company compared to a minimum of two of your company’s competitors.
Marketing Strategies: What are the marketing strategies used by your company in the management of the global customer brand? Use the four Ps in your analysis, which are listed below.
Product: Begin with a theoretical definition of a product. What is the product/service offering by your company? How did the development of these new products affect your company’s marketing strategy?
Place: Begin with a theoretical definition of place. What are the distribution channels used by your company?
Price: Begin with a theoretical definition of price. What is the pricing strategy used by your company?
Promotion: Begin with a theoretical definition of promotion. What are the traditional and digital methods of marketing promotion used by your company? Explain a minimum of three traditional and three digital methods.
Competitive Advantage: Identify whether your company has a competitive advantage in each of the areas of the four Ps. Remember that your company could have a competitive advantage in one area and not in another. Include supporting rationale.
Your submission must be in essay format and use subheadings. You need to include a minimum of five scholarly sources (no blogs, no Wikipedia), and three must be peer-reviewed sources. Your scholarly activity must be at least six pages in length, not counting the title page and references page. APA format is required.
Week 7 Business
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Week 7 Business
Introduction
In 1962, Sam Walton started Walmart, a global retail giant. Walmart operates discount stores, supercenters, and other outlets globally. Walmart is famous for its low prices and selection. The company succeeds because of its excellent supply chain, efficient distribution networks, and strategic marketing. Despite its global prominence and wide product range, Walmart needs help with workforce and environmental issues. This essay examines Walmart's competition assessments, including Target and Amazon, and how its four Ps marketing strategies provide an edge in the evolving retail business. Companies in competitive markets must comprehend Walmart's broad marketing strategy.
Competitive Analysis
Finding and analyzing Walmart's main competitors and their differentiators is essential to evaluating its competitive environment. Amazon and Target are two of Walmart's most notable competitors. Like Walmart, Target is a well-known American retail business with a wide selection of goods. Conversely, Amazon is a massive worldwide e-commerce company that has increased its market share in the retail industry.
Walmart's Strengths
Global Presence: One of Walmart's main advantages is its wide-ranging global reach. It enjoys economies of scale from operating in several nations, which enables competitive pricing and a broad consumer base.
Product Assortment: Walmart offers various products, including apparel, electronics, consumables, and more. This one-stop shop strategy offers clients convenience and variety while serving a broad demographic.
Supply chain: Its firmly structured supply network is critical to Walmart's success (Vu et al., 2023). Effective inventory management, cost savings, and competitive pricing are all made possible by the company's efficient logistics.
Walmart's Weaknesses
Perceptions of Employee Treatment: Walmart's labor practices, which include low pay and few perks, have drawn criticism. Unfavorable opinions about how employees are treated may impact customer loyalty and the company's reputation.
Impact on the Environment: Walmart's extensive operations exacerbate environmental problems, such as those with sustainability and carbon emissions. Although the organization has taken action to resolve these issues, there are still potential weak points.