Walmart's Marketing Strategy
Wal-Mart’s Marketing Strategy
The store in the competitive retail industry that is referred to as the giant is Wal-Mart. This store has leaded the retail industry’s market of profit and sales for years. The stores expanded to every nook and cranny and became a household name. The stores went from only retail items to grocery stores, to having restaurants such as McDonalds and Subway, to having hair salons, optical stores, and mechanic services. The retail giant boomed, and soon found itself at its peak and then consistently falling behind the competition. It has been found that in order for a business to succeed in a competitive market, it must shift with the market and not fight against it. This is something that Wal-Mart has failed to completely do.
Wal-Mart, being a company that is known for its lower prices on everyday value, has struggled in the recent years in the competitive market it is in. A portion of their problem comes from the lack of being able to keep up with the competition around them. The competition has caught on to the marketing tactics of Wal-Mart and soon stores such as Kohl’s and Target have become a huge threat to the once retail giant. Another issue that Wal-Mart has always struggled with is employee rights. There has always been the controversy of fair pay rate and the company treating its employees fairly. This is bad publicity and does horrible and opposite outcomes to the challenge of the marketing team. Another complaint among consumers is the size of the store. The store is not easily navigated and the customer is not able to easily get the item they intended to get. The store’s size makes it a hassle versus a convenience and soon going to the store down the street and paying a little more is more of a convenience. Wal-Mart’s original marketing plan was to put the stores where they were needed most, eventually this resource dried up (Hartung, 2012). The stores were added where the research said that they were
The store in the competitive retail industry that is referred to as the giant is Wal-Mart. This store has leaded the retail industry’s market of profit and sales for years. The stores expanded to every nook and cranny and became a household name. The stores went from only retail items to grocery stores, to having restaurants such as McDonalds and Subway, to having hair salons, optical stores, and mechanic services. The retail giant boomed, and soon found itself at its peak and then consistently falling behind the competition. It has been found that in order for a business to succeed in a competitive market, it must shift with the market and not fight against it. This is something that Wal-Mart has failed to completely do.
Wal-Mart, being a company that is known for its lower prices on everyday value, has struggled in the recent years in the competitive market it is in. A portion of their problem comes from the lack of being able to keep up with the competition around them. The competition has caught on to the marketing tactics of Wal-Mart and soon stores such as Kohl’s and Target have become a huge threat to the once retail giant. Another issue that Wal-Mart has always struggled with is employee rights. There has always been the controversy of fair pay rate and the company treating its employees fairly. This is bad publicity and does horrible and opposite outcomes to the challenge of the marketing team. Another complaint among consumers is the size of the store. The store is not easily navigated and the customer is not able to easily get the item they intended to get. The store’s size makes it a hassle versus a convenience and soon going to the store down the street and paying a little more is more of a convenience. Wal-Mart’s original marketing plan was to put the stores where they were needed most, eventually this resource dried up (Hartung, 2012). The stores were added where the research said that they were
Cited: Bhasin, H. (2010, Novemeber 10). MIS: Marketing Information System. Retrieved October 2012, from Marketing91.com: http://www.marketing91.com/mis-marketing-information-system/ Hartung, A. (2012, January 12). Wal-Mart 's Wrong-Headed Reorganization. Retrieved October 2012, from Forbes: http://www.forbes.com/sites/adamhartung/2012/01/30/wal-marts-wrong-headed-re-organization/ Smith, C. (2010, February 28). Marketing Management In Walmart. Retrieved October 2012, from ArticlesBase: http://www.articlesbase.com/management-articles/marketing-management-in-walmart-1919747.html