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Marketing for Managers | Retail marketing strategy

WAL-MART:

Abstract:

Wal-mart takes the policy of lowest price ever. Their target customers are middle-class people. So always keeping their price low is a good strategy for Wal-mart. They flourish well during poor economic conditions. During good economic condition they have to undertake various strategies like offers on bulk purchase to maintain their sales.

Table of Contents

Answer to question 1. 3

Answer to question 2. 3

Reference. 5

Answer to question 1

Wal-mart is the second largest company in the world. Sam Walton launched it in 1962. He kept the profit margin low and sold the same products at a lower price than his competitors sell. It follows an EDLP (Everyday Low Price) strategy. Wal-mart has revised its marketing strategy throughout its lifetime. At first its marketing efforts were based on positive PR, aggressive store expansion, word of mouth, etc. Wal-mart introduced its tagline, "Always Low Price. Always" in 1992. This tagline is effective in a case of Wal-mart. Tagline helps to communicate the brand promise. It reminds the brands about their brand promise. The tagline is a kind of signature (Reynolds, Cuthbertson & Bell, 2004). It is unique. It must clearly convey the primary motive of the brand (Kerin, Hartley & Rudelius, 2009). Wal-mart's main motive is to deliver the customers products at cost, which is always lower than their competitors. On an average, it saves $3100 a year, for an average family. During holidays, it reduced prices of electronics and popular toys. All these point out to the fact that it has kept its promise. It has always kept its price low. Therefore, the tagline is apt for them (Berkhout, n.d.). It serves the purpose. The brand is in li ........

ous strategies like offers on bulk purchase to maintain their sales.

Table of Contents

Answer to question 1. 3

Answer to question 2. 3

Reference. 5

Answer to question 1

Wal-mart is the second largest company in the world. Sam Walton launched it in 1962. He kept the profit margin low and sold the same products at a lower price than his competitors sell. It follows an EDLP (Everyday Low Price) strategy. Wal-mart has revised its marketing strategy throughout its lifetime. At first its marketing efforts were based on positive PR, aggressive store expansion, word of mouth, etc. Wal-mart introduced its tagline, "Always Low Price. Always" in 1992. This tagline is effective in a case of Wal-mart. Tagline helps to communicate the brand promise. It reminds the brands about their brand promise. The tagline is a kind of signature (Reynolds, Cuthbertson & Bell, 2004). It is unique. It must clearly convey the primary motive of the brand (Kerin, Hartley & Rudelius, 2009). Wal-mart's main motive is to deliver the customers products at cost, which is always lower than their competitors. On an average, it saves $3100 a year, for an average family. During holidays, it reduced prices of electronics and popular toys. All these point out to the fact that it has kept its promise. It has always kept its price low. Therefore, the tagline is apt for them (Berkhout, n.d.). It serves the purpose. The brand is in line with the ideas that its tagline conveys.

Answer to question 2

 CMO of Wal-mart, Mr. Stephen Quinn said that Wal-mart is fortunate that the recession occurred. He admitted that their success is more related to the external environment, and they have no credit in this achievement. This situation has made Wal-mart insecure. Wal-mart offers goods at a lower price. That is their main motto. For that, Wal-mart grows in poor economic condition. This is a known fact. In rising economy Wal-mart takes a different strategy. They can lower the price other items. They can be emphasis more on advertising. They can give the offers on bulk purchase. In poor economic condition, people tend to by less. They curtail their cost (Reynolds, Cuthbertson & Bell, 2004). They are much inclined towards bulk purchase. They want to spend less amount of money. Offers on bulk purchase are good during a boom period. They can devote more money on product differentiation. They can widen their range of goods (Kerin, Hartley & Rudelius, 2009).