Marketing Research, Markets, And Developing A Strategy For Target Marketing

951 words - 4 pages

People everywhere, from all walks of life may have varied demands, needs, and tastes of goods and products, but can all agree that one of the biggest hassles arising from "running errands" is the sheer amount of time that even routine shopping trips can take. By the time you have bought the groceries, run to the post office, picked up diapers for the kids, gone clothes shopping, and bought the dogs and cats there food the day is pretty much shot. Retailers know this, and to ease customers shopping days there has been a marketing shift towards "one stop shopping". You can now go to Wal-Mart or Target and buy most anything you need without going anywhere else. While it sounds like great news for the consumer, this paradigm shift, like most things in life, does not come without its drawbacks. Specialty stores once renowned for their selections and expertise in that market segment, are being marginalized by stores that can duplicate their efforts while offering so much more. The case we will examine today involves Wal-Mart and there new ploy to target specific cultures in a specific area.In this Case Study we are asked the question…Instead of or in addition to the markets it currently serves, should Wal-mart target the following markets: African-Americans, the Affluent, Empty Nesters, Hispanics, Suburbanites and Rural Residents? In today's world and the ongoing dilemma of illegal immigrants, I will focus more of this case on Wal-Mart and the targeting of Hispanics. This could be looked at in both a positive and a negative way depending on your stance on the issue.Wal-Mart Stores Inc. has been the largest retailer in Mexico for five years. But until recently, its approach to targeting Hispanics in the U.S. has been low key. Now the world's largest retailer is stepping up efforts to attract America's fastest-growing immigrant group.In 2005, the NOP World announced results from its Hispanic OmniTel Retail Study revealing where Hispanic Americans are shopping and why. Asked to name their favorite store, Wal-Mart was far and away the top selection at 36% with JCPenney, Sears and Target tying for second place at a meekly 4%. When asked what factors are most important when deciding where to shop, Hispanic-Americans cited the same priorities that other Americans have when choosing retailers: convenience, low prices and a wide range of selection. Like the new Chicago based Wal-Mart a critical second-tier priority is that the Hispanic market is cited by half of Hispanics as being "very important," including store employees speaking Spanish, products relevant to Hispanic consumers and Spanish language signage. A little over a year ago, Wal-Mart began printing its monthly ad circulars in English and Spanish. It also launched its own Hispanic magazine, called Vivien do [Living], which it distributes free at 1,300 stores heavily shopped by Hispanics. The glossy quarterly magazine features profiles of Latino leaders and celebrities next to ads highlighting...

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