...The Marketing Mix Holly Brown MKT/421 April 24, 2013 Mary Hinds The Marketing Mix Starting in 1962 by Sam Walton, Wal-Mart grew into a major corporation that serves in 15 international markets, including more than 3,600 stores in the United States alone. In 2012, it was ranked #1 for the second year in a row on the Fortune 500 list. Wal-Mart is a widely known corporation that offers just about anything and everything a person could ask for. Known for their customer service, wide variety of selection, convenient locations, and ability to make customers happy, it is easy to see why the marketing mix that they use is a key factor in the continuing growth and success of the business. The marketing mix of a company consists of four components, or the four P’s: Product, Price, Place, and Promotion. Each part is something that is a part of the product’s marketing plan and is controlled. The four P’s are created and edited in order for the company to produce a marketing plan that serves the needs of customers and produces the most attainable income for the company. Product describes the types of products a company is marketing to increase sales. The price of these products determines how well a company will do compared to that of its’ competitors. The place in which the company is located will determine what types of customers will shop from the consumer. Last, the way in which a company promotes its’ products will determine the attention the company gets. For instance, if a...
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...Marketing Mix Janea’ Jackson MKT/421 Stephanie Jenson April 25, 2011 Introduction A marketing strategy provides an in depth look at what a company can do within the market. When creating a marketing strategy, the company must first identify the target audience and a related marketing mix. According to businessdictionary.com, the target audience is “a particular group of people, identified as the intended recipient of an advertisement or message.” The four P’s make up what is commonly referred to as the marketing mix, “a set of controllable tactical marketing tools - product, place, price and promotion - that the firm blends to produce the response it wants in the target market” (Armstrong & Kotler, pg. 51). Focusing on a specific audience can help a company develop a marketing mix that will satisfy the needs of this audience better than the competition. It is quite useful to reduce all of the elements in the marketing mix down to just these four basic marketing tools. These four tools are essential to the development of organizations' marketing strategies and tactics. This paper will describe the elements individually, as well as looking at an organization such as Wal-Mart, a national retailer, who individualizes the marketing mix to fit the company’s specific strategies and tactics. Breakdown of Elements So now let’s discuss the four Ps in further detail. The product tool is based upon the development of the right product. This product has to be appealing to the...
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...Powell Wal-Mart MKTG305-1301A Applications in Marketing Project Type: Unit 5 Individual Project March 17, 2013 Abstract For this assignment, Wal-Mart was chosen as my Fortune 500 Company. Let’s begin by describing Wal-Mart’s main line of business and provide the name of four different countries that Wal-Mart operates. Then clarify the putting into practice the 4Ps marketing mix theory by Wal-Mart and explain any differences following the carrying out of this theory from country to country. Wal-Mart Wal-Mart stores has maintained being at the top of the corporate ladder and had been on top for two years in a row for Fortune 500 and Global 500 (CNN Money, 2013). Sam Walton opened a Walton’s 5 & 10 store on Bentonville Town Square in Arizona in 1950; this little dime store was the beginning for Wal-Mart. This location is now Wal-Mart’s Visitor Center. Sam Walton opened the first Wal-Mart in 1962 in Rogers, Arkansas (Wal-Mart, 2012). Wal-Mart is all about helping people to save money so that they are able to live better lives. People are able to shop anytime, anywhere whether it is online, from their mobile devices, or in retail stores (Wal-Mart, 2012). Wal-Mart has locations operating in 27 different countries under 69 different banners. Four countries in which Wal-Mart operates are: United States, China, Argentina, and Japan. In the United States, there are Wal-Mart Supercenters, Sam’s Club, Wal-Mart Express, Neighborhood Markets, and Wal-Mart Discount...
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...organization’s marketing strategy? 8-179 13 What is the organization’s financial position and financial strategy? 8-182 14 What are the organization’s production and purchasing strategies? 8-186 15 What are the current strategies in other functional areas such as HR and information systems? 8-189 16 What strengths exist for the organization? 9-204 17 What weaknesses exist for the organization? 9-204 18 What opportunities exist for the organization? 9-205 19 What threats exist for the organization? 9-205 What is the organization’s marketing strategy? Wal-Mart is the leader in the retail industry in the United States. It has been the leader in its industry for a long time now. One of the prime reasons for this is that it has been able to provide the customers with one stop shop approach What is the organization’s marketing strategy? Wal-Mart is the leader in the retail industry in the United States. It has been the leader in its industry for a long time now. One of the prime reasons for this is that it has been able to provide the customers with one stop shop approach. A particular customer will be able to find every needs of the daily life within a Wal-Mart location. Saying this Wal-Mart uses the 4p’s of marketing mix to a competitive level in order to gain and maintain the customer level. The 4p’s of marketing mix which consists of price, place, product and promotion has been well followed and taken into consideration by Wal-Mart. Wal-Mart has been...
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...that 285 million Americans are mobile subscribers, which translates to about 91% of Americans. The same survey found that revenues in 2009 totaled nearly 150 billion dollars, with an average monthly bill of $48.16. (Association, 2009) All those numbers have spiked the interest of the folks at Wal-Mart, who recently unveiled their own brand of mobile phone service, Straight Talk. However unlike most of the competition Wal-Mart is offering a simple two plan, no contract service that is sure to draw customers looking to save money and remove the long-term contracts from around their necks. Straight Talk has one plan for $30 a month that comes with 1000 minutes, 1000 text messages and 30 megabytes of data, and the other plan for $45 a month comes with unlimited minutes, text messages, and data. Wal-Mart is seeking a customer base that is one looking for an inexpensive and reliable phone service, and two wishes to remove the restrictiveness of the typical long-term contracts. Wal-Mart has used the marketing matrix to successfully launch their new phone service. The marketing matrix (often referred to as the four P’s) is outlined below. Product Strategies- the heart of the marketing mix, the starting point, is the product offering and product strategy. It is hard to design a place strategy, decide on a promotion campaign, or set a price without first knowing the product to be marketed. The product includes not only the physical unit but also its package, warranty, after-sale service...
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...WALMART WESLEY LEATHERWOOD MARKETING 205 AIU ONLINE SEPTEMBER 29, 2013 ABSTRACT The main line of business of Wal-Mart is allowing customers to shop anywhere anytime online, on mobile devices, and in stores. The vision is to create opportunities and bring value to customers and communities around the world. The marketing mix strategy changes in the different locations of business and it is important to know how to effectively and efficiently give the consumers what they need and want. Using a strategic marketing mix will make the company flourish and maintain a good business production. THE GLOBAL COMPANY OF WALMART Wal-Mart is a global company that is very popular from their slogan of “Every Day Low Prices”. The main goal of Wal-Mart is to provide the public with quality goods for lesser price than the competition. Wal-Mart has over 245 million customers with locations in 27 different countries and e-commerce websites in 10 countries. With employment of 2.2 million associates worldwide, you would expect for profits to be $466 billion in the year 2013 (Corporate Wal-Mart 2013) The main line of business of Wal-Mart is allowing customers to shop anywhere anytime online, on mobile devices, and in stores. The vision is to create opportunities and bring value to customers and communities around the world (Corporate Wal-Mart 2013). The company of Wal-Mart is the world’s largest retailer and is very popular with lower and middle class families. Wal-Mart started as a small discount...
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...without selling the businesses’ products or services. The field of marketing was established to aid the process of this idea of selling. Selling has several different interpretations but today’s business environment focuses in on creating, communicating, and delivering value to the customer. Without a transfer of value, a customer doesn’t feel welcomed and may shy away from a specific business. A firm’s honesty plays a major role in establishing a customer base and retaining one. This idea of ethics in the field of marketing is incredibly important as dishonesty is frowned upon and the marketplace will respond negatively to a dishonest firm. Firms are in a constant battle competing with one another trying to create the best marketing mix. Having a solid mix, companies have a well-established product, price, promotion, and placement to attract customers and maintain them for years. Wal-Mart, well known for their cost leadership strategy providing goods at the cheapest price has taken it a step further with their new online price comparison tool. An article in the money section of The Intelligencer, a local newspaper for Bucks County, Pennsylvania on Sunday, March 23rd explained the tool. The article is titled “Wal-Mart’s New Pricing Game. As stated before, Wal0mart competes in a cost leadership strategy. Cost leadership, in basic words, means the lowest cost of operation in the industry. Wal-Mart has been known for many years to offer the lowest prices giving their...
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...Any business must consider the marketing mix. This is a combination of factors, which helps a business sell its product. “The major marketing mix tools are classified into four broad groups, called the four Ps of marketing: product, price, place, and promotion (Armstrong, 2011).” “To deliver on its value proposition, the firm must first create a need-satisfying market offering (product).It must decide how much it will charge for the offering (price) and how it will make the offering available to target consumers (place). Finally, it must communicate with target customers about the offering and persuade them of its merits (promotion) (Armstrong, 2011).” The four elements of the marketing mix will discuss the impact in the development of a variety of companies marketing strategy and tactics. “The Product means the goods-and-services combination the company offers to the target market (Armstrong, 2011).” This offering may involve a physical good, a service, or a blend of both. A product is any combination of goods and services offered to satisfy the needs and wants of consumers. Apple iPod comes in different colors and memory sizes. You can get a white iPod with 8gb, 16gb, 32 gb etc. or choose a different color and memory space. Than there’s the insurance or warranty offers which just as important as the product its self. “Price is the amount of money customers must pay to obtain the product (Armstrong, 2011).” Within the pricing concept are pricing strategies that determine...
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...Wal-Mart is the number one retailer in the United States. Geographical growth opportunities are shrinking within the boundaries of the United States.The company needs to evaluate multiple options to determine the best strategy to deploy. The challenge is “keeping the world’s biggest retailer on its phenomenal roll and delivering the huge sales and earnings increases that investors had come to expect from Wal-Mart over the years” (Camerius& Hunger, p. 19-30, 2006). The company’s current strategic plan is tothrive in the followingareas: • Low costs, high customer service, and always low prices • Product mix • Logistics and supply-chain management • International markets • Domestic growth • Public relations I have developed multiple strategic alternativesfor the company. They are as follows: • Stability – Pause And Proceed: Pause physical growth then proceed with growth domestically and globally • Growth – Concentration: Concentrated Internet program to target domestic and foreign markets • Growth – Concentration: Horizontal Growth with International Entry for global geographical internal expansion The plan deployed must be consistent with the corporate strategy. Per Sam Walton (1918-1992), the company’s founder, “Our goal has always been in our business to be the very best and, along with that, we believe that in order to do that, you’ve got to make a good situation and put the interests of your associates first. If we really do that consistently, they in turn...
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...Running head: Five Year Marketing Five Year Marketing Plan Walmart Sherry Smith Baker College Table of Contents I. Title Page 1 II. Table of Contents 2-3 III. Executive Summary 4 IV. Company Description 4-5 V. Strategic Focus and Plan 5 a) Mission Statement (Current) 5 b) New or Revised Mission Statement 5 i. Vision Statement (Current) 5 ii. New or Revised Vision Statement 5-6 c) Goals 6 1) Non-financial Goals 6 2) Financial Goals 6 d) Core Competency and Sustainable Competitive Advantage 6 VI. Situation Analysis 7 a) SWOT Analysis 7 b) Industry Analysis 7-8 c) Competitors 8 d) Company Analysis 8-9 e) Customer Analysis 9 VII. Market Product Focus 9 a) Marketing and Product Objectives 10-11 b) Target Markets 11 c) Points of Difference 11 d) Positioning 11-12 VIII. Marketing Program 12 a) Product Strategy 12 i. Product Line 12 ii. Unique Product Quality 12-13 iii. Packaging 13 b) Price Strategy 13 c) Promotion Strategy 13-14 d) Place (Distribution) Strategy 14 IX. Financial Data and Projections 14 a) Past Sales Revenues...
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...University MKT501 - Strategic Marketing Module 5 SLP Dr. Darlene Jaffke INTRODUCTION Wal-Mart Stores, Inc. The company I choose to write about is Wal-Mart Stores Inc. Wal-Mart Stores, Inc. is an American public corporation that runs a chain of large, discount department stores. It is the world’s largest public corporation by revenue. Wal-Mart is a household word in the U.S., but it is quickly becoming a well-noted name in the international realm. Wal-Mart is one of the leading multinational and multibillion dollar companies in the US for most sale and most employees. They focus on low prices and making sure everyone is treated like family. The Wal-Mart story began in 1962, when Sam Walton opened the company’s first discount store in Rogers, Ark. Five years later, there were 24 Wal-Mart stores in Arkansas ringing up $12.6 million in sales. Wal-Mart employed 1,500 Associates working in 38 stores, with sales of $44.2 million. In 1970, Wal-Mart also began selling shares over the counter as a publicly held company. In 1991, Wal-Mart became an international company when they opened a Sam’s Club near Mexico and Wal-Mart international was created. By the year, 2006 Wal-Mart weekly customers had grown to more that 176 million around the world with 6,779 locations. Wal-Mart has had records sales of over $345 billion. Wal-Mart increased its ownership stake in Seiyu in Japan to 53 percent and its ownership of Carhco to 51 percent renaming the company Wal-Mart Central America. While many...
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...Wal-Mart MKTG305-06 Marketing Management Abstract Wal-Mart is a Fortune 500 international country with 5,651 stores in 26 countries. Wal-Mart is located in different countries, possibly under a different name. This paper will discuss the four Ps of marketing and any differences observed in making this company international. Wal-Mart Wal-Mart is a Fortune 500 international business. Wal-Mart employs 780,000 associates in 5,651 stores in 26 countries. The main corporate office of Wal-Mart is in Bentonville, Arkansas. Wal-Mart first opened in Rogers, Ark in 1962. The idea of discount retailing was not new, but Sam Walton, the founder, wanted a new type of store. To only name four countries in which Wal-Mart stores can be found Argentina, Honduras, South Africa, and Swaziland, but they may be seen under a different name in each country. In Argentina, Wal-Mart may be known as Changomas. In Honduras, Wal-Mart may be seen as Centroamérica. In South Africa, Wal-Mart may be seen as Massmart. In Swaziland, Wal-Mart may be seen as Massmart (Wal-Mart, 2012). The Four P Components of the Marketing Mix were Product, Place, Promotion, and Price. The product is the items or services the company sales. The place is the location of the company. The promotion is the ads used to sale the products or service to the customers. The price is the amount of money that the customers are willing to pay for the product or service while the company can still make money. The Evolution...
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...Bus 610: Managerial Marketing Instructor: Dr. Susan Sasiadek Assignment 3: Marketing Assessment Templeton C. Crawford January 23, 2012 Marketing Strategy of Wal-Mart The marketing strategy of the Wal-Mart is one of that is generic marketing within the retail discounters industry however; since Wal-Mart has changed their target audience it is doing segmentation marketing to capture the refined customer and moved into metropolitan areas instead of rural areas the design of the store has changed to attract the new upscale customer. Targeting marketing, as popular marketing strategy, refers to the concentrated marketing of a product to a segment of consumers due to the attractiveness of the group in terms of such factors size and growth. (Cui, Choudhury, Pravat, 2003, pg.367) The marketing mix 4P’s framework of Wal-Mart product, price, promotion and place. Some critics believe that the Wal-Mart brand can no longer be considered to be a discount store because of the changes which have affected prices. The product has not changed but the packaging of the product has been revamped the great value logo of Wal-Mart by changing the font on packaging. The displays of the products are similar in the new model of Wal-Mart which is to appeal to the new target audience. The old policy of Wal-Mart was to accept any item from any Wal-Mart to replace an item or exchange the item. Now the policy is to buy a replacement plan to cover the items bought from Wal-Mart. The store is now...
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...Case Study : “Wal-Mart’s Global Expansion” Marketing Role: * The company is driven by a commitment to business excellence. * Particapation of employees in this business goal. * Cultivated a culture of perfection. * Marketing manager has said that Wal-Mart’s major business objective is to ensure that their sales are always increasing. * The company ensures their growth rate does not stagnate. * Wal-Mart is driven by the pursuance of technological improvements. * Creativity and Innovation is another business objective for the company. * They aims at maintaining their market positions by brainstorming and looking for new ways of attracting potential clients. * Wal-Mart values being considered as strategic company partner. * Saving money to live better is there mission. * Consumers consider Wal-Mart as a consumer friendly retailer. * Consumer friendly prices. * Satisfactory customer service. * One stop shopping center. Segment: * The company has been associated with the middle class or low-income earners. * Affluent clients tend to shy away from the retail giant due to misconception that Wal-Mart’s product are of lower quality. Target: * Wal-Mart plans on targeting those affluent consumers aside from the middle class and low-income earners. * Wal-Mart did a thorough market analysis to find out the most appropriate manner of attracting these clients. * The affluent market is crucial in the company’s...
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...Wal-Mart’s Promotion Mix and Integrated Marketing Communications Wal-Mart is a top ranked company with high financial performance. The giant is a none other-than a retailer of general and consumable goods. They are an envied company that seem to do everything right. As a company, they position themselves to address the needs of customers by operating retail stores around the world focusing saving people money so people so can have additional financial resources for other things. Combined efforts in Advertising, Direct marketing, internet marketing, sales promotion public relations and personal selling investigated to learn about their success. Wal-Mart operation is broken in three areas Wal-Mart US, Wal-Mart International and Wal-Mart international they also have Wal-Mart.com to shop and use free shipping. “The Wal-Mart International segment consists of the company’s operations outside of the United States and Puerto-Rico. The Sam’s club segments include warehouse membership clubs in the United States and Puerto Rico as well as Sam’s Club.com” (Arkansas, 2011). Wal-Mart international net sales, US sales and Sam’s sales were $109 billion, $260 billion $49 billion respectively for fiscal year 2011; Wal-Mart plan on growing stronger by opening new stores and selling more items. Wal-Mart is currently No 1. On the fortune, 500 companies; in 2010, sales were $ 422 billion, and they increase profits during the recession competing retailers struggling. Wal-Mart provides awareness...
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