Marketing Excellence Walmart Assigment 2 PDF

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MARKETING EXCELLENCE: WALMART

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Marketing Excellence: Walmart Carlos Antonio Campos Cruz Sullivan University MGT570: Marketing Strategy and Implementation October 05, 2020

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Marketing Excellence: Walmart Evaluate the evolution of Walmart’s marketing campaign and tagline over the years. What does the company continue to do well? What are the pros and cons of its most recent strategic marketing plan? Walmart is the largest retailer company in the world that sell products of about $ 245 billion per year. The best marketing strategies help Walmart have the highest share of sales in the market, which allows the company to make a lot of profits. The evolution of Walmart's marketing campaign and tagline over the years is that the company introduced a critical marketing approach with a tagline that allows customers to save money and live a better life. Walmart introduced this strategy in the market to promote its business growth. The primary aim of Walmart's marketing campaign was to reduce consumers’ expenses and increase their savings. Walmart Company also achieved its success through its good core values such as excellence, respect, and service. For instance, the company always thinks of the best methods to ensure their customers obtain the best products and services while promoting excellence in their activities. The company also ensures they treat their customers with compassion and dignity without considering their beliefs and backgrounds. Walmart's new marketing strategy also ensures that customers obtain quality merchandizes and other services from the company. The other core competencies of the Walmart Company involve logistic advantages and supply chain management. Walmart achieved success when it removed middlemen processes and obtained services directly from manufacturers (Kotler & Keller, 2015). Walmart also uses technology to predict inventory and demands and to track the supply of the products. The pros of Walmart's most recent marketing plans involve low product prices and an increase in Walmart store size. The company provides products to its customers at a lower price,

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which helps its customers improve their savings and increases company sales due to the competitive advantage effect. The lower price also promotes Walmart's growth as results of increase in their sales. The other advantage of Walmart's marketing plans is that a wide range of goods and services exists in a single shop, unlike its competitors. Most customers often prefer to purchase products in one shop because it reduces their traveling costs and saves time. Walmart's new marketing plan also encourages social media use, which helps the organization build loyalty with its customers, increase connection with different customers, and obtain feedback. The cons of Walmart's marketing plan include ethical concerns and small storage size. The ethical issue is Walmart workers faced a poor condition, immensely when the company expanded (Palmatier & Sridhar, 2017). Walmart's small store sizes might also contribute to an adverse reaction since most people recognize it to have large stores. Walmart performs very well when the economy turns sour. How can it protect itself when the economy is on the rise? Explain. Walmart Company can protect itself when the economy is on the rise by utilizing various marketing strategies, particularly those that help the company gain customers’ trusts and those that promote the market of their products and services. Walmart can apply MIS or marketing information system because it is useful for the company to obtain regarding their customers and products and services. Marketing information system also help the company to make accurate and timely information regarding marketing decision making process. MIS can also help the company appropriate actions on how they should do, specifically when the economy is in recession. Walmart Company also need to develop and secure a strong market base, to ensure a continuous flow of their product sales despite economic fluctuations. Walmart can achieve a strong market base through effective marketing strategies, which will help them have a constant

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product sale without the effect of economic changes. Walmart Company can also protect itself when the economy rises by using marketing intelligence system. Marketing intelligence system should involve set of sources and procedures that the company managers obtain useful information regarding marketing environment development. Walmart can also develop innovative strategies that promote their sales growth and attracts consumers’ purchasing power.

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References Kotler, P., & Keller, K. L. (2015). Marketing management, global edition. Pearson Education UK. Palmatier, R. W., & Sridhar, S. (2017). Marketing strategy: Based on first principles and data analytics. Macmillan International Higher Education....