The paper "Wal-Mart Marketing Plan" is a great example of a marketing case study. The principal position of marketing in any business is to empower a firm in gaining market leadership through understanding the associated dynamics such as customer needs and competitors positioning & strategies and thus allowing a firm to execute strategies that generate superior quality, value and service. Marketing aims at building value-based relations with a company’ s customers, as well as with various internal and external business units of a company (Moorman & Rust, 1999, p. 180). Thus, marketing plan acts as a guide to the entire business company.
A business company’ s marketing strategies are usually executed through a marketing plan (Veludo-de-Oliveira, 2006, p. 26). The aim of this report is to outline a marketing plan for the Wal-Mart Company. In this regard, the report analyses the marketing strategies of Wal-Mart and offers recommendations in regard to the same. Within this context, the report frames the plan in a five-point approach basis. First, the report examines the marketing issues faced by Wal-Mart based on the emerging gaps derived from PESTEL, SWOT and Porter’ s Model analysis, the report outlines the objectives to be addressed by the plan.
Secondly, a brief review of the company background is presented so as to act as a bridge for future proposals. Thirdly, situational analysis is conducted to establish challenges, opportunities and gaps in the marketing strategies and other operational functions that impacts on marketing. The first is the macro analysis through PESTEL approach and the second is the SWOT analysis which incorporates Porter’ s model especially under the threat (T) factor. Lastly, under this subsection, how the firm does its market segmentation is analysed.
Based on the above analysis, the fourth step is to offer recommendations on the way forward on how to overcome the marketing issues identified and thus being able to address the objects and subsequently contributing to the firm’ s market leadership. Finally, a budget proposal is provided on how the same can be supported financially. 2.0 Marketing Issues and Objectives 2.1 Major Marketing Issues The issues outlined below are informed by the PESTEL, SWOT and Porter’ s model analysis. One of the marketing issues impacting on the firm is the existing and large number of competitors with similar product and service line in the US and other countries who are out to undercut Wal-Mart in terms of prices, cost and product differentiation so as to reduce market leadership of the firm by attracting the customers to their chain stores and therefore giving Wal-Mart a run for their money.
This would imply the switch of the loyalty of customers. These competitors include Costco, Target, K-mart and so on (see appendix 1). For instance, Target Stores differentiate itself from Wal-Mart by advancing low price option and mass producer like Wal-Mart, but with an equally stylish range of products that are affordable (Mahopper, 2012). Additionally, there has been the concern of Wal-Mart placing their focus and market share on consumable and thus a ‘ consumable-centric market share’ .
While the firm acknowledges that consumable has been core to its growth since it drives the numbers for store traffic, there is an increasing concern that this segment is getting saturated as a result of increased competition. This is because numerous competing outlets are having the same approach of focusing on fresh food and consumables.
This calls for balanced or less focus on consumables and differentiating more into other product categories (Souza, 2013). Thus the onus would be how they can do it better than their competitors.
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