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Wal Mart/Marketing Plan Phase I Essay

1934 words - 8 pages

Marketing Plan: Phase IOne important aspect of marketing is the development of a sound marketing plan. A marketing plan summarizes what a marketer has learned about a particular marketplace and indicates how the organization plans to reach its marketing objectives (Kotler and Keller, 2006). The contents of the market plan may include an executive summary, situational analysis, a marketing strategy, financial projections, and implementation controls (Kotler and Keller, 2006). The purpose of this project is to begin a market plan for the popular retail chain, Wal-Mart, and the introduction of a new rental car service. The beginnings of this plan will introduce the retail chain, provide an overview of a possible car rental service, and will provide an explanation of the importance of marketing to Wal-Mart's success. This project will also conduct an analysis of the strengths, weaknesses, opportunities, threats and trends (SWOTT), as well as describe the marketing research approach the researchers will use to develop the marketing strategy and tactics for this new product and service.Wal-Mart: An OverviewWal-Mart is a large corporation started as a little store in Rogers, Arkansas. Now Wal-Mart has over 8,100 stores and clubs worldwide. Sam Walton, Wal-Mart's founder, was able to build 15 stores between 1962 and 1972 (Wal-Mart, 2009). As the years progressed Mr. Walton was able to build more stores and add Wal-Mart stock into the New York Stock Exchange. Wal-Mart has more than 2.1 million associates and serves more than 138 million customers weekly (Wal-Mart, 2009). The corporation has an income of $312.4 billion each year (Wal-Mart, 2009).Most Wal-Mart stores are super-centers that include a full grocery section and many other departments. These departments include clothing, jewelry, electronics, pharmacies, toys, pets, garden centers, automotives, and various others. The automotive section supports most automotive needs including an in-house garage, which employs in-store mechanics that perform such functions as oil changes, tire changes and rotations, and other mechanical services. This provides a perfect setting for an in-store car rental service!Wal-Mart is not only located within the United States, but the company has also reached international markets in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea, and the United Kingdom (Wal-Mart, 2009). Wal-Mart has evolved over the years to achieve the goal of satisfying the customers, which is exactly the intentions of its founder, Sam Walton.Rental Car Service OverviewWal-Mart, the name rings in every household throughout the US and other countries. Everyone recognizes the brand name and the store advertises the lowest prices around. Currently, Wal-Mart works with National Car Rental and offers a 20% discount by using a rate code (Wal-Mart 2009). Consumers can contact the car rental and give them the code in...

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