Strategy Adopted By Wal-mart In Marketing
Product[/b]
The company should have an idea of attracting the affluent client.
These stores offered jewelry, expensive wine and other expensive commodities.
The reason why this did not work very well because the change was introduced rather drastically.
The company should introduce expensive products only in stores located in affluent neighborhoods.
The company needs to exercise selectivity in the types of products chosen.
The company should stay away from designer clothes or organic foods because these did not yield good results in the past.
The focus should be on electronics.
By securing well-known suppliers, the corporation can offer better quality products thus attracting the eye of the affluent clients who are particularly interested in these items.
Place[/b]
Since the Company has already saturated the local market, then the focus should be on international markets.
However, entry into those international markets should be done tactfully. Walmart should choose economically secure countries.
The stores found in these areas need to be located strategically.
Price[/b]
The pricing aspect of Walmart's marketing mix is part of the reason.
The company should maintain their low pricing strategies but they should merge this with product choices.
They need to improve on the quality of service and their items in order to make themselves more appropriate in this scenario.
Promotion[/b]
The company takes part in charitable events and has marketed itself as a community based institution.
However, there have been a number of accusations in the media that Walmart exploits its employees.
The company has had to grapple with lawsuits centering on this poor image. The company has already embarked on this program by marketing the company as a fair employer; it provides its employees with a good health insurance pan.
The following issues have been highlighted in an advertisement posted in support of Walmart's corporate responsibility
The retailer is the nation's largest employer
Its offers affordable health plans starting from $ 23
The company contributes close to 245 million dollars in charitable events annually.
A good employer does not need to advertise their employment practices as they will speak for themselves. The company should boost its health insurance plans because other companies offer better health programs yet they earn less than Walmart.
The Company need not convince the public that its employees are actually happy to work for the company.
These employee opinions should not be communicated to the public.
The company should embrace the idea of hospital partnerships for its retail clinics.
The company already announced that it plans on expanding the number of in-store clinics from fifty five to a whooping four hundred by the year 2010.
While it may be a good idea in itself, there is still room for improvement. Walmart has been in the news for a number of wrong reasons.
One of the accusations labeled against the retail giant is the fact that their employee health insurance plans do not fit their status as market leaders.
Consequently, the company needs to look for ways of improving this image through a number of avenues.
First of all, they could offer their employees access to the in-house clinics.
This will go long way in enhancing their employment practices.
Product[/b]
The company should have an idea of attracting the affluent client.
These stores offered jewelry, expensive wine and other expensive commodities.
The reason why this did not work very well because the change was introduced rather drastically.
The company should introduce expensive products only in stores located in affluent neighborhoods.
The company needs to exercise selectivity in the types of products chosen.
The company should stay away from designer clothes or organic foods because these did not yield good results in the past.
The focus should be on electronics.
By securing well-known suppliers, the corporation can offer better quality products thus attracting the eye of the affluent clients who are particularly interested in these items.
Place[/b]
Since the Company has already saturated the local market, then the focus should be on international markets.
However, entry into those international markets should be done tactfully. Walmart should choose economically secure countries.
The stores found in these areas need to be located strategically.
Price[/b]
The pricing aspect of Walmart's marketing mix is part of the reason.
The company should maintain their low pricing strategies but they should merge this with product choices.
They need to improve on the quality of service and their items in order to make themselves more appropriate in this scenario.
Promotion[/b]
The company takes part in charitable events and has marketed itself as a community based institution.
However, there have been a number of accusations in the media that Walmart exploits its employees.
The company has had to grapple with lawsuits centering on this poor image. The company has already embarked on this program by marketing the company as a fair employer; it provides its employees with a good health insurance pan.
The following issues have been highlighted in an advertisement posted in support of Walmart's corporate responsibility
The retailer is the nation's largest employer
Its offers affordable health plans starting from $ 23
The company contributes close to 245 million dollars in charitable events annually.
A good employer does not need to advertise their employment practices as they will speak for themselves. The company should boost its health insurance plans because other companies offer better health programs yet they earn less than Walmart.
The Company need not convince the public that its employees are actually happy to work for the company.
These employee opinions should not be communicated to the public.
The company should embrace the idea of hospital partnerships for its retail clinics.
The company already announced that it plans on expanding the number of in-store clinics from fifty five to a whooping four hundred by the year 2010.
While it may be a good idea in itself, there is still room for improvement. Walmart has been in the news for a number of wrong reasons.
One of the accusations labeled against the retail giant is the fact that their employee health insurance plans do not fit their status as market leaders.
Consequently, the company needs to look for ways of improving this image through a number of avenues.
First of all, they could offer their employees access to the in-house clinics.
This will go long way in enhancing their employment practices.