Marketing Strategy Essay

920 words - 4 pages

Marketing strategy ofMarketing strategy includes identifying and analyzing a target market mix to meet the needs of individuals in that market. A marketing strategy includes a plan of action for developing, distributing, promoting and pricing products that meets the need of the target market.Walmart sales products, which are a part of everyday life and the products can satisfy customers with all possibility needs. In Walmart stores, there are electronics, entertainment, home, pharmacy, photo, sports, toys, videos, games etc. findable.Walmart is making daily promotions to the customers to increase the sales and motivate the customers. For example; this week Walmart made a promotion, ''50 % of the top 50 books''.For satisfy the customer, the products must be available at the right time in convenient locations. Walmart opened in-store health clinics for routine medical services such as sport physicals, flu shots and strep-throat tests for their customers without an appointment. Walmart tries to make transportation and storage costs as low as possible to deal with the distribution variable.Price is a critical item of the marketing mix because customers have opinions about the value. Walmart always tries to provide customers with low prices.The levels of strategic planning are as follows; Mission statement-(Corporate strategy(Business-Unit strategy(Marketing strategy(Marketing mix Elements(Product, Distrubition, Promotion, pricing)A mission statement is a long term view or vision of what the organization wants to become.The mission statement of Walmart is ''to give ordinary folk the chance to buy the same thing as rich people''Walmart's slogan is: 'Always low prices, always'.Corporate strategy: It determines the means for utilizing resources in the various functional areas to reach the organizations goals.Walmart has four steps to his corporate strategy;-First, Walmart is triying to become the market dominance-Secondly, Walmart opened out in the USA and international markets.Walmart has the biggest market share in the world.-Walmart creaetes a positive brand and company acknowledgement.- Lastly, Walmart is getting into new sectors of retail.Wal-Mart Stores is not only the largest retailer in the world out; it also ranks as the largest corporation in the world.Business-Unit strategy: Markets need to define future business directions and develop strategies for individual business units.Market share of a market is the percentage of a market that buys a specific product from a particular company.Walmart's market share in the world is;

Market Share 2003

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A products market growth rate and its market share are important substitutes in determining marketing strategy.Stars are product with a dominant share of market and good prospects for growth.Stars are using more cash than they...

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