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Marketing Plan For Wal Mart Essay

6596 words - 26 pages

Marketing Plan: Phase IV PAGE \* MERGEFORMAT 3
Marketing Plan: Phase IV - Wal-MartDecember 1, 2008Marketing Plan: Phase IV - Wal-MartOrganizational OverviewWal-Mart has departed on an unprecedented journey of growth and prosperity since its inception in 1962 by Sam Walton. Wal-Mart Stores, Inc. has achieved the distinction of being the largest retailer in the world and based on assets and revenue, the largest company in the world. Wal-Mart has over 1 million people in its employ in the United States alone, at 3,400 stores. The worldwide total is approximately 1.4 million people in 10 countries, at 4,500 outlets globally, including the United States, Canada, Argentina, Puerto Rico, Mexico, Korea, China, Brazil and the U.K. (United Kingdom).The first Wal-Mart store was opened in Rogers, Arkansas. Wal-Mart is traded publicly (WMT) at the New York Stock Exchange. Wal-Mart is headquartered in Bentonville, Arkansas (Walmart, 2008).Overview - Mission StatementWal-Mart saves people money so they can live better. One of the key factors of success to any business is to satisfy the demands of the customer while making sure that product quality is maintained, at an agreeable cost to the consumer. Wal-Mart tirelessly works on this credo day in and day out, year after year.Overview - Industry AnalysisWal-Mart touts an extensive chain of discount stores that sell a wide variety of merchandise from electronics to music, food to clothes and patio and garden equipment to auto services. Wal-Mart has ownership of the Sam's Club chain of membership stores, as well. The main competitors for customers of Wal-Mart are rival discount chains such as Target Corporation, Costco and the Sears Holdings Corporation, or Kmart.Overview - Organizational GoalsIn addressing possible hurdles on the path to success in regard to implementing new marketing initiatives, Wal-Mart can avoid possibly detrimental situations in the retail industry in four methods. These include partnerships with third parties, reconciliation of any outstanding global issues, acquiring businesses with similar technologies, and through internal development of personnel and policies. Wal-Mart is committed to continue its growth by expansion of its Supercenter locations globally and concentrating on categories that will allow it to gain revenue from non-core products as well as the merchandise it already profits from (Deloitte, 2004, p. 8 #8).An aspect of the economy of scale known as the aggregation effect, i.e., difference and variety in merchandise that is sold, all complementing the whole, is used by Wal-Mart as well. As this promotes more sales out of the same store, this helps Wal-Mart to accumulate revenue over their fixed cost base (Walmart, 2008).The continued focus on infrastructure, technology and purchasing power is how Wal-Mart intends to maintain leadership in the market to service their customers and stakeholders.Product DescriptionExpansion is more risky where political, economic and cultural...

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